Anteris Technologies Ltd (ASX:AVR, OTC:AMEUF) has raised $30 million to support the ongoing development of DurAVR® THV, a novel first-in-class biomimetic heart valve that restores near-normal flow dynamics.
These funds were raised via a single-tranche placement of new fully paid ordinary shares in Anteris at $16 per share to new and existing institutional and sophisticated investors.
The placement will see Anteris issue approximately 1.875 million new shares to raise $30.0 million (before costs). The $16 issue price represents a 6.2% discount to the last closing price, on July 19, of $17.05 per new share.
Along with the ongoing development of DurAVR® THV, the funds raised will be used for:
- preparatory activities for the DurAVR® THV pivotal registration study and additional first-in-human studies;
- upscaling in-house manufacturing;
- continued v2vmedtech research and development; and
- general working capital.
Anteris continues to progress towards achieving FDA approval for the DurAVR® global Phase 3 pivotal study. Positive biomimetic outcomes continue to provide confidence that the trial is on track to enrol quickly.
Anteris is now positively positioned to commence the FDA submission, conduct ongoing pre-market commercialisation activities and stay abreast of discussions with potential partners.