PolyNovo says R&D facility fire damage fully insured

The news: Medical devices group PolyNovo has told the exchange that the damage caused by a fire at an R&D facility in November 2025 was fully insured and it has received a written note of indemnity.

The numbers: The book value of assets written off due to the fire is $4.4 million. Estimated insurance proceeds of $4.6 million will be included in the first-half financial statements.

The context: The insurance claim is expected to be finalised by 30 June, with further amounts to be recorded in the second-half financial statements. Rebuilding of the facility is expected to be completed by September 2026.

The fire affected a “small section of the facility” but following a specialist investigation it was identified that smoke damage “has rendered the significant majority of the R&D equipment, including the specialised [heating, ventilation and air conditioning] system, unusable”.