RUA Life Sciences inks new supply agreement

(Sharecast News) - Medical device business RUA Life Sciences said on Wednesday that it has inked a new supply agreement with an initial value of more than £500,000. RUA said it has now entered a multi-year supply contract with a global customer that covers two product lines, unit volumes and unit pricing.

The AIM-listed firm stated revenue expected during the current calendar year was anticipated to grow over time with a potential value of £3.3m over a five-year period.

RUA also highlighted that the new contract represented a six-fold increase on the level of business undertaken for the customer prior to commencing work on the project.

Chief executive Bill Brown said: "The RUA Quality, R&D and Production teams worked closely with our global customer to exceed their expectations during the project phase which resulted with this long-term partnership."

As of 1020 GMT, RUA shares were up 6.12 % at 13.0p.











Reporting by Iain Gilbert at Sharecast.com