Anteris Technologies Ltd (ASX:AVR, OTC:AMEUF) has secured A$35 million in funding from a share placement offered to various sophisticated and professional investors at an issue price of A$24.00 per share.
The placement was cornerstoned by AVR’s two largest shareholders, Perceptive Advisors and L1 Capital, each subscribing beyond their existing pro-rata shareholding.
Anteris also welcomes interest from returning investors Sio Capital and CEO Wayne Paterson, and attracted New York-based Affinity Asset Advisors, a healthcare-dedicated fund, into the syndicate.
Participants in the placement also received one attaching unlisted option, expiring two years from the date of issue at an exercise price of A$29.00 per option.
Solid capital assurance gained
“With the line-up of clinical work that Anteris will accomplish in 2023, I am very pleased the company has succeeded in securing multiple routes of capital, through today’s A$35 million raise,” Anteris Technology CEO Wayne Paterson said.
“This kind of capital assurance enables us to march forward confidently with our novel, biomimetic, first-in-class TAVR technology DurAVR™.
“With our US EFS study initiating in early Q2 2023, the A$35 million raise completed today funds the company through the completion of that trial, release of data and conversations with the FDA towards a plan for the pivotal (PMA) trial for US commercialisation.”
AVR intends to use the proceeds to advance the clinical development of its DurAVR™ THV, the company’s first-in-class, biomimetic TAVR valve technology for the treatment of aortic stenosis, and general working capital purposes.