Anteris Announces Completion of A$35 Million Capital Raise and Provides 2023 Goalposts
16 February 2023 - 12:00AM
Business Wire
Company Funded Through Results of U.S. Early
Feasibility Study of DurAVR™
Anteris Technologies Ltd (ASX: AVR), a structural heart company
developing DurAVR™, the world’s only balloon-expandable, 3D
single-piece biomimetic aortic valve, announced today the
completion of a A$35M equity fundraising initiated on February 9th
2023. In this transaction the Company has issued 1.458 million new
ordinary shares to at an issue price of $24.00 per New Share, to
raise the A$35 million amount. Newly issued shares will commence
trading today.
The company’s two largest share-holders Perceptive Advisors and
L1 Capital corner-stoned the Placement, each subscribing beyond
their existing pro-rata shareholding. The transaction also saw
returning investors Sio Capital, and CEO Wayne Paterson.
Additionally, the Company welcomes New York based Affinity Asset
Advisors, a healthcare dedicated fund, into this syndicate. This
raise also marks the first US-Australian joint fundraise for the
Company.
Proceeds from the Placement will be used primarily for the
clinical development of DurAVR™, the Company’s 3D single-piece
aortic valve (TAVR) for the treatment of aortic stenosis and for
general working capital purposes.
Participants in the Placement will also receive one attaching
unlisted option to acquire an ordinary share in Anteris for each
New Share, expiring two years from the date of issue with an
exercise price of $29.00. The face value of these options, if
exercised, can bring in a maximum of A$56M funding into the company
over the following two year period.
Anteris also takes this opportunity to announce the milestones
in front of the Company in the next 6-12 months. The Company
announces that its 15 aortic stenosis patient US Early Feasibility
Study (EFS) will commence across 7 TAVR Centers of Excellence in
early 2Q2023 and will report interim and final 30-day data in
3Q2023. This trial will also report 3-month data in 4Q2023 and then
proceed to its 12-month safety and efficacy milestone for
2Q2024.
In parallel, in 1H2023 the company will report 12-month data
from the second cohort of patients (n=8) from its 13 patient ex-US
pilot study. This data will build upon the successful 12-month data
that was already reported for the first cohort of patients (n=5 of
13) in Jan 2023. With 12-mo ex-US data and 30-day and 3-month data
from the US EFS study, Anteris will approach the FDA to finalize
the design of their premarket authorization (PMA) trial of US
approval of DurAVR™. Additional clinical milestones will be
announced through the course of 2023.
CEO Wayne Paterson commented “With the lineup of clinical work
that Anteris has to accomplish in 2023 I am incredibly pleased the
Company has strong support from new and existing investors through
today’s $A35M raise. 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 2Q2023, the A$35M 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 commercialization.”
About Anteris Technologies Ltd (ASX: AVR)
Anteris Technologies Ltd is a structural heart company that
delivers clinically superior and durable solutions through better
science and better design.
Its focus is developing next-generation technologies that help
healthcare professionals deliver consistent life-changing outcomes
for patients.
Anteris’ DurAVR™ 3D single-piece aortic heart valve replacement
addresses the needs of today’s younger and more active aortic
stenosis patients by delivering superior performance and durability
through innovations designed to last the remainder of a patient’s
lifetime.
The proven benefits of its patented ADAPT® tissue technology,
paired with the unique design of our DurAVR™ 3D single-piece aortic
heart valve, have the potential to deliver a game-changing
treatment to aortic stenosis patients worldwide and provide a
much-needed solution to the challenges facing doctors today.
Authorisation and Additional information
This announcement was authorized by Mr Wayne Paterson, Chief
Executive Officer.
www.anteristech.com Twitter: @AnterisTech Facebook:
www.facebook.com/AnterisTech LinkedIn:
https://www.linkedin.com/company/anteristech
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version on businesswire.com: https://www.businesswire.com/news/home/20230215005374/en/
Investor contact Deanne Curry GRACosway E:
investors@anteristech.com M: +61 414 388 997
Media contact Nick Howe GRACosway nhowe@gracosway.com.au
M: +61 407 183 221
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