Graft progress reflected in new valuation
RUA Life Sciences has announced that their graft products have moved into the final long-term animal testing stage. This is the point that proceeds the submission and then FDA approval (during which the graft could be partnered). We have therefore modified the risk-adjustment in our valuation to reflect a 5% higher probability of success. This tangible progress in the development of RUA’s most advanced products validates the acquisition of RUA Medical as all the value from these products now resides in the combined company.Our valuation methodology attributes most of the valuation of RUA Life Sciences to its grafts, patches and heart valve products. As such, we have updated our valuation to reflect the recent progress announced by RUA Life Sciences. This increases our valuation to £111.2m or 765p per share, from £99.3m or 676p per share.
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