Business
Spinout and Completion of Financing of RSH
RUA Life Sciences plc has completed the spinout and financing of its subsidiary, RUA Structural Heart, which raised £3 million through a convertible note issued to the Leducq organization, alongside the capitalization of £4.8 million in intercompany debt into convertible notes for RUA Life Sciences. This transaction allows RUA Life Sciences to cease consolidating RUA Structural Heart's results, treating it as an investment, and is expected to result in a non-cash accounting gain of approximately £4.9 million and a positive annual financial impact of around £750,000 by eliminating operating costs and recognizing PIK interest. RUA Structural Heart will now focus on developing a novel surgical mitral valve for underserved markets using its proprietary AurTex™ material, with the funding designated for design optimization, testing, and preparation for clinical studies. Disclaimer*
About this update from Rua Life Sciences Plc
[{"type":"text","content":"\n\n12 May 2026\n \nRUA LIFE SCIENCES PLC\n(\"RUA\", the \"Company\" or the \"Group\")\nSpinout and Completion of Financing of RUA Structural Heart\nRUA Life Sciences plc (AIM: RUA), the medical device group focused on the exploitation of long-term implantable biostable polymers, is pleased to announce the successful spinout and completion of a fundraise by its subsidiary, RUA Structural Heart Limited (\"RUA Structural Heart\" or \"RSH\"), led by the Leducq organization (\"Leducq\").\nTransaction Highlights\n· RSH has raised £3 million through issue of convertible note to Leducq.\n· Intercompany debt of £4.8 million capitalised in convertible note to RUA Life Sciences (\"RLS\").\n· RUA currently retains 100% equity interest, but Board is independent of RLS.\n· RSH will develop a heart valve for underserved market.\n· RLS no longer funding RSH allowing focus on profitability through CDMO business.\nRUA Structural Heart will issue £3.0 million of Convertible Unsecured Loan Stock (\"CULS\") to Leducq (on the terms set out below) to fund it through the next stage of the development of its novel surgical mitral valve programme, targeted at rheumatic heart disease patients in low- and middle-income countries (\"LMICs\"). The valve will use RSH's proprietary AurTex™ material, a biostable polymer composite engineered to meet the long-term demands of heart valve leaflets.\nSpecifically, the funding will cover valve design optimisation, durability and fatigue testing, and animal studies, in preparation for the initiation of a first-in-human clinical study.\nAbout Leducq\nThe Leducq organization is dedicated to improving human health through international efforts to combat cardiovascular disease. The organization includes The Leducq Charitable Trust and Leducq Foundation, both based in the Bahamas, the Leducq Foundation for Cardiovascular Research based in Houston, and Broadview Ventures, a venture philanthropic program working out of Boston. \nIn 2019, The Leducq Charitable Trust and foundations created a new initiative in rheumatic heart disease (RHD), a significant unmet medical need which disproportionately affects children and young adults. RHD is predominantly found in low- and middle-income countries. Leducq's RHD pr...