GPL Graft Polymer (uk) Plc

TIDMGPL

RNS Number : 1330K

Graft Polymer (UK) PLC

23 August 2023

23 August 2023

Graft Polymer (UK) PLC

Graft Bio signs manufacturing services agreement for production of haemostatic wound care products

Graft Polymer (UK) plc ("Graft Polymer", LSE: GPL), the specialist chemicals company offering modified and alloyed polymer and bio-polymer solutions for refiners, compounders and processors, announces the signing of a manufacturing service agreement with a prominent partner (the "Partner") in the Israeli pharma market, including GPL acting as a lead contract manufacturing organization ('CMO').

Under the agreement, Graft Polymer is to provide manufacturing services from its GraftBio production facility in Slovenia, which is now fully operational. Graft Polymer has been contracted by the partner to produce its patented haemostatic powder following a recent, successful pilot scheme.

The customer has an innovative product whose manufacturing requires deep-seated understanding of and experience with polymers. The benefits of the product are its ability to change from a self-emulsifying powder to a gel on contact with blood, meaning that it can penetrate a wound and clot the blood effectively from within. As such, it has a wide range of applications and Graft Polymer will work with our partner to enhance the product in due course, leveraging its SNEDDS (self-nanoemulsifying drug delivery system) technology.

The benefits of this service agreement to Graft Polymer are:

-- Leveraging the company's GraftBio production facility to produce bio polymers as drug delivery systems for the pharma industry and allowing GPL to become a formal CMO.

   --    Harnessing GPL's strong R&D capabilities for further development of the haemostatic product. 
   --    Delivering a new material revenue stream for GraftBio. 
   --    Evidence of cost effectiveness and fast delivery capabilities. 

This pioneering product, developed by Professor Danny Baranes from Ariel University, is a haemostatic agent which effectively stops minor to severe bleeding. Catering to a wide range of needs and applications, the product is intended use in emergency medical services, tactical and security sectors, and military medical settings, as well as for personal wound care. The Partner has a firm commitment to enhancing healthcare outcomes and is dedicated to making significant contributions to developing haemostasis and wound care solutions.

Commenting on the agreement, Graft Polymer CEO & CTO Victor Bolduev said: "This represents a significant opportunity for the Company's Graft Bio division, and evidence of our strong innovation capabilities in producing medical device products for the pharma industry".

ENDS

For further information, visit www.graftpolymer.com ,follow on Twitter @PolymerLtd or contact:

Graft Polymer (UK) Plc

   Roby Zomer, Non Executive Chairman                                       Via Flagstaff 

Yifat Steuer, CFO and Executive Chairman

Turner Pope Investments Tel:+44 (0) 20 3657 0050

James Pope

Andy Thacker

   Flagstaff Strategic and Investor Communications                    Tel + 44 (0) 207 129 1474 

Tim Thompson graftpolymer@flagstaffcomms.com

Mark Edwards

Alison Allfrey

Anna Probert

About Graft Polymer

Graft Polymer is a London Stock Exchange listed company (GPL.L) with a cutting-edge research and development (R&D) and manufacturing facility based in Slovenia which has already introduced more than 50 products to the market. The core business of the Group comprises polymer modification and drug delivery system developments. The Group has developed a proprietary set of polymer modification technologies which uses recycled raw materials and a closed loop system to reduce waste. Graft Polymer's technology can improve existing products and processing methodologies by enhancing performance, simplifying manufacturing, reducing material consumption, widening the choice of feedstocks, and reducing costs.

Graft Polymer has three divisions: the first division focuses on polymer modification; the second is GraftBio which develops IP for Bio/Pharma applications (including a drug delivery system to support and provide solutions to the market, which had been heavily impacted by the COVID-19 pandemic); and the third is the Group's food supplement division. A significant milestone was reached in May 2022 when the Slovenian manufacturing facility was granted a Hazard Analysis and Critical Control Point (HACCP) Certificate. The HACCP Certificate allows it to enter the lucrative Business-to-Consumer market and commercialise its IP for bio/pharma applications, developing active pharmaceutical ingredients and drug delivery platforms for use in the food supplement market, thereby introducing a further revenue stream to its business.

Environment, Social and Governance is at the forefront of the Group's strategy and the facility in Slovenia has been granted ISO 14001 accreditation in recognition of the environmental management systems in place to reduce waste. Graft Polymer only uses REACH and ROHS certificated raw materials instead of toxic raw materials, and its extensive R&D programme has also developed specialised recycling polymer additives which increases the strength of recycled blends and plastic products whilst also reducing plastic waste by between 40 and 50 per cent.

Graft Polymer is debt free.

ENDS

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August 23, 2023 02:00 ET (06:00 GMT)

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