RUA Life Sciences (AIM:RUA) PLC shares rocketed 38% after it announced a distribution agreement with medical devices group Corcym to market its range of large bore straight and aortic root grafts for heart surgeons.
In late morning trade, the stock was up 17.4p at 63.3p, valuing the business at just over £10mln.
Earlier RUA said the Corcym agreement grants the latter exclusive rights to commercialise RUA's grafts, with gross margins achieved on sales being split in half between the two companies.
Chairman Bill Brown told investors: "The mutual benefits of this partnership with Corcym are transformational for RUA.
“Not only does it validate our belief in the product range but it is backed up with Corcym's capacity and capabilities to make the graft range available to heart surgeons globally."