Anteris Technologies Ltd (ASX:AVR, OTC:AMEUF, FRA:DDF) has signed a further agreement with LeMaitre Vascular Inc to extend the manufacturing of CardioCel™ and VascuCel™ at its Malaga facility in Western Australia.
The agreement includes a nine-month extension to the current manufacturing contract, which will now conclude in July 2023.
Anteris will continue to receive existing agreed pricing over the extension period amended to remove the foreign exchange risk.
It also continues to retain sole control of the entire IP portfolio for ADAPT®, the tissue technology on which the company’s DurAVR™ single-piece 3D aortic valve is built, which is licensed to LeMaitre for specified fields of use.
LeMaitre Vascular Inc is a provider of devices, implants and services for the treatment of peripheral vascular disease, a condition affecting more than 200 million people worldwide.
The company develops, manufactures and markets disposable and implantable vascular devices to address the needs of its core customer, the vascular surgeon.
To help maximise capacity utilisation
AVR CEO Wayne Paterson said: “This extension helps maximise the capacity utilisation of our facility in Australia as we continue to manufacture our DurAVR valves alongside the CardioCel range.
“This additional extension will expire at the point where commercial production of DurAVR is increasing in scale.”
The CardioCel product portfolio is the world's first 3D shaped and proven fully acellular collagen bio-scaffold.
Both CardioCel and VascuCel were developed by leveraging the company’s anti-calcification ADAPT tissue technology.
This extended manufacturing agreement follows the sale of Anteris’ CardioCel and VascuCel product range to LeMaitre in 2019 and delivers the company additional ongoing revenue from its internally developed proprietary products.
Regulatory approvals
In addition, LeMaitre will assume the responsibility for applying for the regulatory approvals under European Medical Devices Directorate Regulation.
The associated costs will also be assumed by LeMaitre and deducted from the A$3 million earn-out and payable in instalments upon receipt of each product approval under European Medical Devices Directorate Regulation.