Anteris Technologies halted with capital raising announcement upcoming
Securities will remain halted until Monday, August 2, 2021, or when an announcement is released to the market.
Company
ASX:AVR
Anteris Technologies Pty Ltd is a global structural heart company committed to designing, developing, and commercializing cutting-edge medical devices to restore healthy heart function. Founded in Australia, with a significant presence in Minneapolis, USA, Anteris is a science-driven company with an experienced team of multidisciplinary professionals delivering restorative solutions to structural heart disease patients.
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Securities will remain halted until Monday, August 2, 2021, or when an announcement is released to the market.
Having a specialised, proprietary sterilization system enhances the intellectual property barrier around Anteris’ key technologies.
CEO Wayne Paterson said: “Having DurAVR™ recognized at this very important meeting is a clear demonstration of support for our potential within the Structural Heart Faculty.”
The proven benefits of its ADAPT® tissue technology, paired with DurAVR™’s unique 3D single piece aortic valve design, have potential to deliver a functional cure to aortic stenosis patients and provide a much-needed solution to the challen
“As we continue to advance our program and gain prestigious recognition such as being accepted for this presentation, we are increasingly confident that DurAVR™ will be a major market entrant into the global TAVR market,” says CEO.
Results from the study validate ADAPT® ’s anti-calcification properties in highly problematic areas of surgery and move the company closer to a viable alternative for patients of coronary by-pass surgery.
The company is focused on investing in, researching and developing its ADAPT® technology and product development pipeline including DurAVR™, its 3D single-piece aortic valve.
It will repay the short-term facility entered into with Mitchell Asset Management for the advance of $1.22 million for its forecasted R&D tax incentive.
The capital raising validates the structural heart company’s next-generation technologies including The Anteris DurAVR™ aortic replacement valve and ADAPT® tissue technology.
A series of animal studies have been completed to demonstrate the feasibility of the DurAVR™ THV (prosthetic aortic valve) and its bespoke ComASUR™ delivery system.
Anteris’ DurAVR™ prosthetic valve has the potential to solve the problems associated with current aortic valve replacement options, offering a functional valve for life in an estimated US$10 billion market by 2025.
The funding provides additional working capital as Anteris advances the development of DurAVR™, its 3D single-piece aortic valve for the treatment of aortic stenosis.
Results correlated with existing clinical data and those of the prior head-to-head study with a similar protocol which produced significant differentials between ADAPT® tissue and Edwards Life Sciences’ Thermafix™ tissue.
The ‘structural heart’ biotech has gained 182% since the start of the year, following a big investment in the development of its flagship product, DurAVR™.
The Anteris DurAVR™ aortic replacement valve addresses the acute need in terms of superior hemodynamic profile as well as chronic needs in its ability to sustain that profile longer over the lifetime of the patient.
New York-based investment fund, Mercer Street Global Opportunity Fund LLC will provide a $16.5 million discretionary drawdown facility
The R&D refund confirms the company’s ongoing commitment to invest in, research and develop its technology and product development pipeline.
Anteris’ 3D single-piece aortic valve, DurAVR™, was selected as a “Best Innovation” at the PCR London Valves 2020 virtual conference, with data from the company’s first-in-human trial presented.
The company’s three-dimensional single-piece aortic valve DurAVR™ was selected as a 'Best Innovation' at last month’s PCR London Valves 2020 virtual conference.
Proven benefits of the ADAPT® tissue technology, paired with the unique 3D single piece aortic valve design of DurAVR™, has the potential to deliver a functional cure to aortic stenosis patients and provide a much-needed solution to challen