Last Updated on March 2, 2022 by GlobeNewsWire
BRISBANE, Australia and EAGAN, Minn., March 02, 2022 (GLOBE NEWSWIRE) — Anteris Technologies Ltd (Anteris or the Company) Limited (ASX: AVR) announces the Company has entered a binding agreement to place 1,840,000 new Ordinary Shares (New Shares) raising USD 20 million ($A 28 million) to Perceptive Life Sciences Master Fund, Ltd and managed by Perceptive Advisors (Perceptive) at $A15 a share, representing a 20% discount to the closing price on 28 February 2022.
This transaction makes Perceptive Advisors Anteris’ largest shareholder with an approximate 14% holdership and follows months of scientific due diligence on the ADAPT(R) tissue technology and DurAVR(TM), the Company’s 3D single-piece aortic valve for treating aortic stenosis.
Founded in 1999 and based in New York, Perceptive Advisors is an investment management firm focused on supporting progress in the life sciences industry by identifying opportunities and directing financial resources toward the most promising technologies in modern healthcare. Today, the firm manages approximately $US9.5 billion across its strategies. (www.perceptivelife.com)
“We are thrilled to have Perceptive join our shareholder base as the fund’s physician led approach to investing and track record of supporting portfolio companies over the long-term helps ensure we can deliver on the goal of bringing our exceptional TAVR product to market. This transaction represents the Company’s largest investment from a fund and we appreciate the confidence Perceptive has in our ground-breaking technology,” Anteris CEO, Wayne Paterson, said.
The proceeds will be used primarily for the clinical development of DurAVR(TM), the Company’s 3D single-piece aortic valve for the treatment of aortic stenosis. The Company is working on its clinical study program designed to test the safety and feasibility of DurAVR(TM)’s THV system on patients with severe aortic stenosis.
Anteris starts its US multicenter, phase 2 Early Feasibility Study (EFS) of DurAVR(TM) in patients with aortic stenosis this year as part of its FDA approval process. Simultaneously, the Company is embarking on European clinical trials in an equivalent patient population towards a potential CE Mark filing in 2023.
The issue of New Shares will be made using the Company’s available placement capacity under ASX Listing Rules 7.1 and 7.1A.
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 reproduce consistent life-changing outcomes for patients.
Anteris’ DurAVR(TM) 3D single-piece aortic heart valve replacement addresses the needs of tomorrow’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(R) tissue technology, paired with the unique design of our DurAVR(TM) 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 authorised by Mr. Wayne Paterson, Chief Executive Officer.
For more information:
Blueprint Life Science Group
P: +1.415.375.3340 Ext. 4
P: +61 4 5064 8064