TruSpine Technologies Plc

Management Reports • Jul 31, 2020

National Storage Mechanism | Additional information

RNS Number : 8181U

TruSpine Technologies PLC

31 July 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

This announcement is not a prospectus and does not constitute an offer of securities for sale in any jurisdiction, including in or into the United States, Australia, Canada, Japan or South Africa.

Neither this announcement, nor anything contained herein, shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not subscribe for or purchase any ordinary shares (the "Shares") referred to in this announcement or in any final Admission Document except solely on the basis of the information contained in any such Admission Document including the risk factors set out therein, that may be published by the Company in due course in connection with a possible or subscription in the Company and the possible admission of the Company's entire issued ordinary share capital to the Aquis Stock Exchange. A copy of any Admission Document published by the Company will, if so published, be available for inspection from the Company's registered office and on the Company's website at www.truspine.org subject to certain access restrictions.

31 July 2020

Truspine Technologies plc

("Truspine" or the "Company")

Announcement of intention to float on the Aquis Stock Exchange Growth Market

UK and US based spinal stabilisation company seeks £1.5m Aquis listing

Truspine Technologies plc (Ticker: TSP), the medical device company focused in the spinal (vertebral) stabilisation market, announces the Company's intention to seek admission ("Admission") to trading on the Aquis Stock Exchange Growth Market ("Aquis"). The Company intends to raise up to £1.5 million by way of a subscription ("the Subscription") and is expected to have a market capitalisation on Admission of approximately £31.5m.

Investment Highlights

·      Truspine is focused on the USD$10.3 billion per annum spinal (vertebral) stabilisation market

·      The market is expected to grow at a compound annual growth rate of 5 per cent. to USD$13.8 billion by 2025[1]

·      Initially developing three pioneering spinal stabilisation devices; 

o  Cervi-LOK

o  GRASP Laminoplasty

o  Faci-LOK

·      Truspine devices represent a quantum shift in spinal fixation, fusion and laminoplasty techniques

·      Following positive pre-submission feedback from the US Food and Drug Administration ("FDA"), Cervi-LOK is expected to complete FDA submission during Q4 2020 with commercial sales commencing in 2021

·      Truspine has a pipeline of additional products exploiting the anatomic preservation which does not implant any hardware into the bone

·      Highly experienced management team and advisory board with proven track record in medical device development and commercialisation

·      HMRC advanced assurance for EIS investment

Ian Roberts, CEO, commented: "We are delighted to be announcing our intention to float on the Aquis Stock Exchange Growth Market. Access to further funding as a listed company will enable us to accelerate the development of our portfolio of spinal stabilisation devices. Our mission is to build a leading independent medical devices company that is at the forefront of reshaping the way clinicians approach spinal (vertebral) stabilisation and therefore alter and significantly improve how severe back pain is treated.

"The market for spinal stabilisation is estimated at $10.3 billion globally and we are well positioned to disrupt this with our suite of products. The Company's strategy is complemented by a first-class management team with a background in medical device manufacture, sales, distribution and marketing in addition to market disruption and taking products from an idea to a successful commercialisation."

Enquiries:

Truspine Technologies Plc		Tel: +44 (0)20 3638 5025
Ian Roberts, CEO
Cairn Financial Advisers LLP (AQSE Corporate Adviser)			Tel: +44 (0)20 7213 0880
Liam Murray / Ludovico Lazzaretti
WH Ireland (Broker)		Tel: +44  (0)20 7220 1666
Adam Pollock
Walbrook PR (Financial PR & IR)	Tel: +44 (0) 20 7933 7870 or +44 (0) 7876 741 001 or
Anna Dunphy		[email protected]

---

[1] Source: Maia Research Analysis

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

END

NRAWPUQGMUPUGCG