Partnership with HD Hospital Device S.R.L.

TruSpine Technologies PLC

25 June 2024

 

25 June 2024

TruSpine Technologies plc

("TruSpine" or the "Company")

Heads of Terms Agreed for European Partnership with HD Hospital Device S.R.L.

TruSpine Technologies plc, the medical device company focused on the spinal (vertebral) stabilisation market is pleased to announce that it has signed Heads of Terms for a European partnership with HD Hospital Device S.R.L. ("HD"), a long-established medical device business in Italy.

The signed Heads of Terms outlines a plan for TruSpine and HD to work together on research and development, developing a European business plan to include potential distribution and manufacturing agreements, subject to agreement on final commercial terms between TruSpine and HD.

Whilst the Company continues to engage with the U.S. Food and Drug Administration ("FDA") in relation to its FDA 510(k) application for its Cervi-LOK product, as flagged at the Company's recent AGM, strategic partnerships are a key part of the Company's development.

A key element to the strategic partnership strategy will be working with HD, firstly to seek approval for its products and then to develop a commercial business plan.  

TruSpine Chairman Geoff Miller commented: "We are excited to have agreed a Heads of Terms with HD, a European business which can trace its history back more than 80 years.  This agreement is a significant step forward for the newly restructured TruSpine, and I look forward to working with HDS management to jointly develop our European strategy."

HD Director David Nobili added: "We are happy to support TruSpine in developing a generation of life and market changing devices for the good of patients and surgeons."

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Enquiries:

TruSpine Investor Hub	https://investorhub.truspinetech.com
TruSpine Technologies Plc	Tel: [phone]
Geoff Miller, Non-executive Chairman
Peterhouse Capital Limited (Broker & Financial Adviser)	Tel: [phone]
Lucy Williams / Duncan Vasey
Novus Communications (PR and IR)	Tel: [phone]
Alan Green / Jacqueline Briscoe	[e-mail]

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

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