AGM Statement and Trading Update

RUA Life Sciences PLC

17 March 2026

 

RUA LIFE SCIENCES PLC

("RUA", the "Company" or the "Group")

AGM Statement and Trading Update

RUA Life Sciences (AIM: RUA), the medical device businesses focused on implantable textiles and the leading biostable polymer (Elast-Eon™), provides the following update on trading and business developments since the audited results for the 18 months to September 2025 (the "September Results") to coincide with the Company's Annual General Meeting taking place later today.

As intimated at the time of announcing the September Results in January, activity levels have continued into the current period, and the Board is encouraged by recent developments.

Contract Development and Manufacturing (CDMO)

The UK based Contract Development and Manufacturing business generates revenues from both development contracts and manufacturing contracts, with a business model in which successful development projects have the potential to transition into manufacturing contracts.

The majority of CDMO revenue is generated by two Manufacturing contracts which continue to perform with similarly strong activity levels seen in the final six months of the September Results period. Importantly, in that six-month period, the business was successful in executing development projects which generated revenues of c.£175,000. The current period has seen further progression of this Contract Development work and agreed proposals and open purchase orders now total approximately £500,000 which should be billed during the current financial year but will be weighted towards the second half of the financial year. It is positive that around 60% of the projects relate to approved products or products in the final stage of regulatory approval providing the opportunity for Contract Manufacturing revenues to follow on in the shorter term. The potential annual contract value for the manufacture of these products if they progress from Contract Development to Manufacturing is expected to be in excess of £5 million per annum.

Abiss, the Group's France-based manufacturer of implantable devices, is trending under budget at present as a major customer seeks to reduce its inventory position. RUA is currently in discussions with the customer to align inventory holdings whilst providing revenue visibility for two years.

Separately, Abiss has its own portfolio of medical devices, including a next-generation mini-sling for the treatment of Stress Urinary Incontinence and is developing a strategy to exploit these product opportunities.

Biomaterials

During the Period, RUA Biomaterials has traded broadly in line with the corresponding months of the September Results period. Further growth is anticipated through a new contract for the use of Elast-Eon and the outcome of an audit of historical royalties from licensees.

Heart Valve Development

As stated in the Annual Report, the Company is undertaking development work within RUA Structural Heart in support of interest expressed for the use of AurTex^TM for a specific heart valve need. At the time, the Board also confirmed its objectives of having future activities funded by third parties. RUA is pleased to confirm that the Company is close to achieving this objective through the recent signing of a Heads of Terms to secure funding to undertake the pre-clinical development of a novel heart valve incorporating AurTex. Shareholders will be further informed of this development at the appropriate time.

Bill Brown, Group CEO commented "RUA has reached a key inflexion point in its growth having achieved our initial targets of doubling the scale of the CDMO business, we now have the visibility for this rate of growth to continue. It is also a credit to the RUA team that the value of the IP and products being developed are being recognised by customers and partners alike and we look forward to further step changes in the business."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK version of the EU Market Abuse Regulation (2014/596) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended and supplemented from time to time.

For further information contact:

RUA Life Sciences
Bill Brown, CEO	Tel: [phone]
Lachlan Smith, CFO

Cavendish Capital Markets Limited

(Nominated Adviser and Broker)                                             Tel: [phone]

Giles Balleny/Isaac Hooper (Corporate Finance)                                  

Harriet Ward (Broking)

Nigel Birks (Healthcare Specialist Sales)

Michael Johnson (Sales)

 

END