TruSpine Technologies PLC FDA approval and working capital (7520J)
24 Dezembro 2020 - 4:00AM
UK Regulatory
TIDMTSP
RNS Number : 7520J
TruSpine Technologies PLC
24 December 2020
TruSpine Technologies plc
("TruSpine" or the "Company")
FDA approval and working capital
Tru Spine Technologies plc (AQSE: TSP), the medical device
company focused on the spinal (vertebral) stabilisation market,
announces that the application for FDA clearance for its Cervi-LOK
product which it expected to make by Q4 2020 has been delayed for
up to three months. The delay is a result of being unable to secure
cadaver lab time and testing due to COVID-19 restrictions. However,
the Company have been able to computer model the Cervi-LOK product
in situ, and this has enabled the Company to make minor
modifications to the Cervi-LOK product.
These modifications should see a significant improvement to the
current design and enable the Cervi-LOK product suite to be
accessible to a wider range of patients once launched.
Cadaver lab time and testing has been booked for February 2021,
pending further COVID-19 restrictions.
Further to the announcement on 12 November 2020, the Company
continues to be in dialogue with Evrensel Capital Partners Limited
("Evrensel") and expects Evrensel's subscription for 694,444 new
ordinary shares in the Company at a price of 36 pence per share to
complete by 5 January 2021, providing the Company with an
additional GBP250,000 of gross proceeds.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
The Directors of the Company take responsibility for this
announcement.
Enquiries:
TruSpine Technologies Plc Tel: +44 (0)20 3638 5025
Ian Roberts, CEO
Cairn Financial Advisers LLP (AQSE Corporate Tel: +44 (0)20 7213
Adviser) 0880
Liam Murray / Ludovico Lazzaretti
WH Ireland (Broker) Tel: +44 ( 0)20 7220 1666
Adam Pollock
Walbrook PR (Financial PR Tel: +44 (0) 20 7933 7870 or +44
& IR) (0) 7876 741 001
Anna Dunphy truspine@walbrookpr.com
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
variations or comparable expressions, including references to
assumptions. These forward-looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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END
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(END) Dow Jones Newswires
December 24, 2020 02:00 ET (07:00 GMT)
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