- Anteris Technologies (AVR) has launched a US$20 million (A$27.5 million) placement to US-based investment management firm Perceptive Advisors
- The healthcare stock penned an agreement with Perceptive Life Sciences Master Fund for the placement, which will see Perceptive become Anteris’ largest shareholder
- Anteris will issue 1.84 million shares at $15 each, representing a 20 per cent discount to its last closing price on February 28
- The funds will be used to develop its 3D single-piece aortic valve replacement, DurAVR, to treat patients with aortic stenosis in upcoming clinical trials
- Anteris shares are up 3.11 per cent to trade at $19.25
Anteris Technologies (AVR) has entered a binding agreement with Perceptive Life Sciences Master Fund, managed by Perceptive Advisors, to raise US$20 million (A$27.5 million).
Under the placement, Anteris will issue 1.84 million new shares to the institutional investor at A$15 per share, which represents a 20 per cent discount to AVR’s closing price on February 28.
Founded in 1999, Perceptive Advisors is a New York-based investment management firm
focused on supporting the life sciences industry by identifying opportunities and directing financial resources toward what it deems as promising technologies in modern healthcare.
Upon the completion of this transaction, Perceptive Advisors will be Anteris’ largest shareholder, with an approximate 14 per cent ownership.
Anteris CEO Wayne Paterson said the company “appreciates the confidence Perceptive has in our ground-breaking technology” and was pleased to welcome it as a shareholder.
“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.”
Anteris will use the money from the placement to develop its 3D single-piece aortic valve replacement, DurAVR, for the treatment of aortic stenosis. The company is working on a clinical study designed to test the safety and feasibility of DurAVR‘s THV system on patients with severe aortic stenosis.
The US-based multicenter, phase two early feasibility study will begin sometime this year as part of Anteris’ goal to get DurAVR approved by the US FDA. The company also hopes to undertake clinical trials in Europe to gain apply for CE Mark approval in 2023.
Anteris was up 3.11 per cent to trade at $19.25 at 1:15 pm AEDT.