25 June 2024

TruSpine Technologies plc

("TruSpine" or the "Company")

Heads of Terms Agreed for European Partnership with HD Hospital Device S.R.L.

TruSpine Technologies plc, the medical device company focused on the spinal (vertebral) stabilisation market is pleased to announce that it has signed Heads of Terms for a European partnership with HD Hospital Device S.R.L. ("HD"), a long-established medical device business in Italy.

The signed Heads of Terms outlines a plan for TruSpine and HD to work together on research and development, developing a European business plan to include potential distribution and manufacturing agreements, subject to agreement on final commercial terms between TruSpine and HD.

Whilst the Company continues to engage with the U.S. Food and Drug Administration ("FDA") in relation to its FDA 510(k) application for its Cervi-LOK product, as flagged at the Company's recent AGM, strategic partnerships are a key part of the Company's development.

A key element to the strategic partnership strategy will be working with HD, firstly to seek approval for its products and then to develop a commercial business plan.  

TruSpine Chairman Geoff Miller commented: "We are excited to have agreed a Heads of Terms with HD, a European business which can trace its history back more than 80 years.  This agreement is a significant step forward for the newly restructured TruSpine, and I look forward to working with HDS management to jointly develop our European strategy."

HD Director David Nobili added: "We are happy to support TruSpine in developing a generation of life and market changing devices for the good of patients and surgeons."

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