Anteris Technologies completes placement to raise $35 million

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Anteris Technologies (ASX:AVR) has raised $35 million through a placement of 1.458 million new ordinary shares to various sophisticated and professional investors at an issue price of $24.

The company said its two largest shareholders, Perceptive Advisors and L1 Capital, have cornerstoned the placement with each subscribing beyond their existing pro-rata shareholding.

It said the placement proceeds will be used primarily for the clinical development of DurAVR and general working capital purposes. DurAVR is the company’s 3D single-piece aortic valve for the treatment of aortic stenosis.

Participants in the Placement will also receive one attaching unlisted option to acquire an ordinary share in Anteris for each new share. The option expires two years from the date of issue with an exercise price of $29.

The company also announced that the US FD has granted expanded approval for the DurAVR THV System in Subjects with Severe Aortic Stenosis: Early Feasibility Study (EFS).

The expanded approval removes the previous conditions placed on the study and will allow Anteris to accelerate certain activities related to study execution.

CEO and managing director Wayne Paterson said, “The DurAVR THV clinical program continues to gather significant momentum with the removal of conditions by the FDA further paving the way for our ground-breaking technology. We are excited to continue building our remarkable real-world evidence base amongst patients receiving DurAVR in the United States as we progress on our path to regulatory approval.”