RUA Life Sciences on Wednesday said it agreed with medical device company Corcym SRL, which focuses on the human heart, to bring RUA’s range of large bore vascular grafts to market.
The medical device firm, focused on the patented long-term implantable biostable polymer Elast-Eon, said the global distribution agreement has granted Corcym exclusive rights to commercialise its large bore straight and aortic root grafts for heart surgeons.
Shares in RUA Life Sciences were up 37% to 62.80 pence each in London on Wednesday morning.
It said a partnership model has been agreed where each party will share the gross margin on global sales on a 50:50 basis, instead of agreeing specific price points by territory, to provide Corcym with the necessary flexibility to maximise market penetration.
Corcym has a commercial presence servicing heart surgeons in over 100 countries, according to RUA Life Sciences.
RUA Life Sciences said it has a pipeline of vascular grafts in development for the repair of diseased and damaged blood vessels, including the thoracic aorta, with the total global market size for these products estimated to be around $1 billion annually.
The regulatory strategies and plans for the pipeline products have been agreed, with RUA Life Sciences anticipating a number of regulatory approvals from 2025 through 2027.
This allows Corcym to commercialise the grafts, RUA Life Sciences said.
‘The mutual benefits of this partnership with Corcym are transformational for RUA,’ said RUA Life Sciences Chair Bill Brown. ‘Not only does it validate our belief in the product range but it is backed up with Corcym’s capacity and capabilities to make the graft range available to heart surgeons globally.’
Christian Mazzi, chief executive officer of Corcym, added: ‘Corcym is excited to partner with an innovative company like RUA to commercialise the aortic graft range.
‘Corcym’s mission is to help cardiac surgeons treat patients better, today and in the future, and RUA’s aortic graft range will be an important addition to the product portfolio we can offer heart surgeons worldwide.’
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