Anteris Technologies Global Corp. (AVR: ASX), a structural heart company focused on designing advanced medical devices, has announced a private placement to raise approximately A$38.5 million (US$25.2 million). The funds will be raised through the issuance of 5,135,000 shares and CHESS Depositary Interests (CDIs). Anteris Technologies is committed to designing, developing, and commercialising cutting-edge medical devices to restore healthy heart function. Their lead product, the DurAVR Transcatheter Heart Valve (THV), is designed to treat aortic stenosis.
The placement comprises an offer of 2,346,936 new shares at US$4.90 per share, raising approximately US$11.5 million (A$17.6 million). Each share includes a warrant to acquire a share at US$7.50, expiring in five years. Additionally, 2,788,064 new CDIs will be offered at A$7.50 per CDI, raising approximately A$20.9 million (US$13.7 million), each with a warrant to acquire a CDI at A$11.50, also expiring in five years. The offer received strong support from existing shareholders such as L1 Capital, Sio Capital, and Nantahala Capital Management, as well as new investor Second Line Capital Management LLC.
The raised capital will primarily support the advancement of Anteris’ DurAVR Transcatheter Heart Valve (THV) global pivotal clinical strategy. This includes recruitment for the PARADIGM trial, effective study execution, and the expansion of manufacturing capabilities. Furthermore, a portion of the funds will be allocated to ongoing research and development for v2vmedtech, inc., with the remaining balance intended for working capital and general corporate purposes.
Anteris anticipates several key milestones, including the expansion of the PARADIGM trial across the United States, Europe, and Canada, following regulatory clearance secured in Denmark. The company has also submitted an Investigational Device Exemption (IDE) to the U.S. Food and Drug Administration (FDA) for the PARADIGM Trial, with approval expected in the near term, which will allow initiation of US study sites. Strategic capital deployment will also focus on expanding manufacturing capacity through diversified tissue sourcing channels in the United States and Australia.
