Anteris Technologies Ltd (ASX:AVR) (FRA:DDF) non-executive director and company secretary Stephen Denaro has shown his faith in the company's biotech strategy with an on-market purchase.
Denaro acquired 5,000 shares in the company for total consideration of $40,047 on June 7.
This acquisition for an indirect interest represents Denaro's initial purchase of fully paid ordinary shares.
R&D tax incentive
The company recently received $1.49 million under the Australian Government’s Research and Development (R&D) Tax Incentive Scheme for the year ended December 31, 2020.
Anteris will now repay the short-term facility entered into with Mitchell Asset Management Pty Ltd at the end of 2020 for the advance of $1.22 million, which provided immediate funds equivalent to its forecasted R&D tax incentive offset for the majority of the 2020 calendar year.
Aortic replacement valve
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.
The proven benefits of its ADAPT® tissue technology, paired with DurAVR™’s unique 3D single-piece aortic valve design, have the potential to deliver a functional cure to aortic stenosis patients and provide a much-needed solution to the challenges facing heart surgeons today.