Proactiveinvestors Australia Admedus Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia Admedus Ltd RSS feed en Mon, 27 May 2019 02:12:47 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Admedus divesting non-core business; to focus on ADAPT product portfolio ]]> https://www.proactiveinvestors.com.au/companies/news/220085/admedus-divesting-non-core-business-to-focus-on-adapt-product-portfolio-220085.html Admedus Ltd (ASX:AHZ) has entered into an agreement to sell part of its Infusion business to a subsidiary of BTC Health Ltd (ASX:BTC) for $6.3 million.

This will complete the first phase of the Infusion business divestiture. Completion of the sale is subject to certain conditions being satisfied with the sale expected to complete in late May 2019.

 

Admedus generated $11 million in revenue from its ADAPT® products in 2018, and has steadily been reducing the selling, general and administration costs relative to revenue, as global sales of the ADAPT® product portfolio increases.

The spin-off of Infusion will allow the company to pursue its global growth strategy to focus the business on the commercial growth and development of ADAPT®.

Once the transaction is complete, Admedus’ headcount is expected to reduce by about 19%.

Phase I of the Infusion divestiture is part of the overall company restructuring plans that are underway.

READ: Admedus to spin-off immunotherapies business; shares surge

Admedus managing director and CEO Wayne Paterson said: “The restructure will enable us to improve working capital management and reduce cash burn through reduction in headcount and focus on the ADAPT® portfolio - which is delivering revenue growth and offers significant potential for future value creation as we grow global sales and advance the TAVR device into human clinical trials.”

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Mon, 13 May 2019 11:09:00 +1000 https://www.proactiveinvestors.com.au/companies/news/220085/admedus-divesting-non-core-business-to-focus-on-adapt-product-portfolio-220085.html
<![CDATA[News - Admedus enters into agreement with SIO Partners for $1 million debt facility ]]> https://www.proactiveinvestors.com.au/companies/news/219870/admedus-enters-into-agreement-with-sio-partners-for-1-million-debt-facility-219870.html Admedus Ltd (ASX:AHZ) has entered into a facility agreement with SIO partners LP (SIO) for a secured debt facility of $1 million.

The proceeds of the SIO facility will provide funds for general working capital and operational costs.

The company will continue with the restructure of its business operations to reduce certain overhead costs and a proposed divestment of the infusion business to capitalise on its growing ADAPT business.

READ: Admedus in trading halt pending update on Admedus Immunotherapies transaction

The key terms of the SIO facility are:

18-month term;

12% interest rate compounding monthly; and

One-off $125,000 facility fee, which will be capitalised to the loan balance and repayable at maturity.

If Admedus launches a rights issue while the loan is outstanding, SIO may elect to offset all or part of the outstanding balance against its entitlement and any underwriting commitment.

If shareholder approval is obtained, the outstanding balance may at SIO’s election be converted to ordinary shares in AHZ at the lesser of:

2 cents per share; and

80% of the volume weighted average market price for ordinary shares calculated over 5 trading days before the date on which the shares are to be issued.

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Wed, 08 May 2019 04:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/219870/admedus-enters-into-agreement-with-sio-partners-for-1-million-debt-facility-219870.html
<![CDATA[News - Admedus in trading halt pending update on Admedus Immunotherapies transaction ]]> https://www.proactiveinvestors.com.au/companies/news/218543/admedus-in-trading-halt-pending-update-on-admedus-immunotherapies-transaction-218543.html Admedus Ltd (ASX:AHZ) has been granted a trading halt by the ASX with an announcement pending in regards to the Admedus Immunotherapies sale transaction.

The trading halt will remain in place until the beginning of trading on April 17, 2019, or when an announcement is made to the market.

Admedus securities last traded at 6 cents.

READ: Admedus to spin-off immunotherapies business; shares surge

Last week the company made further progress towards securing up to $18 million in funding for its immunotherapies business, Admedus Vaccines Pty Ltd.

The company entered into a share sale agreement with Constellation Therapeutics and other shareholders of Admedus Vaccines whereby Constellation would acquire all the shares of Admedus Vaccines.

On completion of the transaction:

Admedus Vaccines will be a wholly-owned subsidiary of Constellation;

The company will hold a 29.13% interest in Constellation through AIPL;

Other shareholders will hold a 10.8% stake in Constellation;

Sun Bright Holding will hold a 60% interest in Constellation;

Sun Bright will contribute up to $18 million to Admedus Vaccines over the period to November 2022 to meet ongoing funding requirements; and

Admedus chief executive Wayne Paterson will be appointed as the chairman of Constellation and Professor Ian Frazer will be appointed as a consultant to oversee the vaccine and immunotherapies development.

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Mon, 15 Apr 2019 14:42:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218543/admedus-in-trading-halt-pending-update-on-admedus-immunotherapies-transaction-218543.html
<![CDATA[News - Admedus to spin-off immunotherapies business; shares surge ]]> https://www.proactiveinvestors.com.au/companies/news/218288/admedus-to-spin-off-immunotherapies-business-shares-surge-218288.html Admedus Ltd (ASX:AHZ) has made further progress towards spinning off and securing up to $18 million funding for its immunotherapies business, Admedus Vaccines Pty Ltd.

AHZ’s wholly owned subsidiary Admedus Investments Pty Ltd (AIPL) has entered into a share sale agreement with Constellation Therapeutics and the other shareholders of Admedus Vaccines whereby Constellation would acquire all the shares of Admedus Vaccines.

READ: Admedus progressing towards securing $18 million investment for immunotherapies division

On completion of the transaction:

• Admedus Vaccines will be a wholly-owned subsidiary of Constellation;

• AHZ will hold a 29.13% interest in Constellation through AIPL;

• Other current Admedus Vaccines shareholders (excluding AIPL) will hold 10.8% of Constellation;

• Sun Bright Holdings, an associated entity of Star Bright Holding will hold a 60% interest in Constellation (note that Star Bright and its related entities own 22.5% of the issued shares in AHZ);

• Sun Bright will contribute up to $18 million to Admedus Vaccines over the period to November 2022 to meet ongoing funding requirements; and

• AHZ chief executive Wayne Paterson will be appointed as the chairman of Constellation, and Professor Ian Frazer will be appointed as a consultant to oversee the vaccine and immunotherapies development.

Payments on achieving milestones

The subscription agreement provides that Sun Bright must pay five instalments of $3.6 million each linked to Constellation achieving certain milestones.

If Sun Bright fails to pay all or part of an instalment, then for each instalment not fully paid, 12% of its shares in Constellation will be transferred to AIPL and the other existing shareholders in Admedus Vaccines.

The immunotherapies transaction remains subject to a number of conditions, including the signing of the subscription agreement, which means it is not currently certain the transaction will proceed.

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Wed, 10 Apr 2019 15:14:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218288/admedus-to-spin-off-immunotherapies-business-shares-surge-218288.html
<![CDATA[News - Admedus in trading halt with sale transaction news pending ]]> https://www.proactiveinvestors.com.au/companies/news/218285/admedus-in-trading-halt-with-sale-transaction-news-pending-218285.html Admedus Ltd (ASX:AHZ) is in a trading halt pending an announcement regarding an Admedus Immunotherapies sale transaction and a response to price query from the ASX.

The company’s securities will remain in trading halt until Friday April 12, 2019 or when the announcement is made to market.

READ: Admedus delivers results with heart-driven corporate strategy

Early last month Admedus received regulatory approval in the form of the CE Mark for its CardioCel 3D product portfolio and its collagen bioscaffold VascuCel in Europe.

The company intends to begin the first phase of its commercial launch of CardioCel 3D after having worked with selected key opinion leaders familiar with the technology.

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Tue, 09 Apr 2019 23:22:00 +1000 https://www.proactiveinvestors.com.au/companies/news/218285/admedus-in-trading-halt-with-sale-transaction-news-pending-218285.html
<![CDATA[News - Admedus delivers results with heart-driven corporate strategy ]]> https://www.proactiveinvestors.com.au/companies/news/217329/admedus-delivers-results-with-heart-driven-corporate-strategy-217329.html Admedus Ltd (ASX:AHZ) (FRA:DDF) (OTCMKTS:AMEUF) is an Australian medical technology company. It is run by Wayne Paterson, a biotechnology industry professional with more than 25 years healthcare industry experience.

Paterson serves on a number of biotech boards and was previously president of Merck Ltd (NSE:MERCK) (NYSE:MRK) (ETR:MRK) (IDX:MERK) Serono’s operations in Australia, Europe, Canada, Japan and emerging markets and global head of cardiovascular medicine. Prior to his time with Merck, Paterson was a country director of pharmaceutical and marketing operations for Roche Holding Ltd Genussscheine (SWX:ROG) (OTCMKTS:RHHBY) (EPA:RBO) (ETR:RHO) pharmaceuticals in the Asia-Pacific, South Korea and China. He has 20 years healthcare industry management experience.

What does Admedus own?

The medtech’s key asset is the ADAPT technology invented by field-leading research & development pioneer vice-president Professor Leon Neethling, Admedus’ cardiovascular science vice-president.

ADAPT biomaterial scaffolds are mostly used in valve repairs and are notably resistant to calcification, with the company holding more than nine years data showing no degradation or calcification.

The resistance bodes well for valve repairs in younger patients, with Admedus also looking to grow its revenue base in the adult valve repair market after enjoying support from surgeons in the paediatric cardiac space.

The company’s next-generation collagen scaffold VascuCel is one example of a technology based on ADAPT.

VascuCel has been used in cardiac repairs and reconstruction procedures for many years.

Two weeks ago Admedus received European CE mark certifiation for VascuCel and CardioCel 3D, opening up the European market to product sales.

CardioCel is a bio-scaffold used to repair congenital heart deformities

Toowong, Queensland company Admedus has its own state-of-the-art biomanufacturing facility which has substantial capacity to expand and includes an in-house research and development laboratory.

The company also has office locations in the Dakota County city of Eagan in the US state of Minnesota and in Zurich, Switzerland.

Admedus has undergone a corporate restructure and refocused its operation, aided by funds from its cornerstone investor Star Bright Holding Ltd and a number of capital raisings.

As part of that restructure the company agreed to divest its immunotherapy business — 60% of the business was to go to Star Bright or a related party for $18 million — and it is also considering moving out its infusions business, allowing its focus to be firmly on the “structure of the heart”, Admedus president & CEO Wayne Paterson told Proactive Investors last week.

Star Bright’s support allowed Admedus to progress a medical technologies strategy to allow it to expand and progress its strategic projects while working to accelerate its 3D product portfolio from development to commercialisation.

Admedus hired chief medical officer Dr Kiran Bhirangi in December 2018 to prioritise growth opportunities and device development, launch and evaluation.

Bhirangi was to take a leading role in driving Admedus’ transcatheter aortic valve replacement (TAVR) and surgical aortic valve replacement (SAVR) projects as well as other catheter-based projects to help expand the ADAPT portfolio of products.

Former KPMG partner Matthew McDonnell had joined the company as its interim chief financial officer a month earlier in November 2018.

What is Admedus’ capital backing?

Admedus delivered its 2018 fiscal year results on March 1, 2019, reporting a $4.2 million or 20% year-on-year increase in total group revenue to $25.6 million, when compared to 2017.

Gross profit for the group for the year was up $800,000, or 7%, to $12.4 million to represent a gross profit margin of 49%. Net loss after tax was $24.7 million.

Most of the company’s revenue growth was driven by ADAPT technology sales, sourced from the repairs of congenital heart deformities and more complex heart defects.

ADAPT sales were up $3.9 million or 55% year-on-year to $11.1 million.

The company had $12 million cash at the end of 2018, a $5.7 million, or 91%, increase on the cash holdings it had at the end of the September quarter of 2018, and a $3.7 million, or 45%, increase on cash holdings at the end of 2017.

During the December quarter of 2018 Admedus raised $19 million for its efforts with a capital drive, banking $12 million after paying offer fees and paying back a $5 million Star Bright loan in full.

The capital drive brought 2018 calendar year capital raisings to $32.3 million.

In January the company collected a further $8.6 million of funds, welcoming new substantial holder in the form of Sio Partners and Capital Management which had an initial 22.2% stake.

Admedus’ next quarterly report is expected at the end of April 2019.

Inflection points

Continued growth in active markets and market growth in Europe

Ongoing financing activities and major shareholder activity

Results from animal and in-human testing, and speed to human trials

President & CEO Wayne Paterson highlights progress

“The company has had a lot of clean-up to do, even more than I imagined when I took over,” President & CEO Wayne Paterson told Proactive Investors last week.

“Key to us right now is, of course, getting the portfolio expanded, moving into these adult indications, getting deals done on the right projects and getting our science out there.

“One key point for the stock price, the company has had a long history of moving up and down — we missed guidance last year, we grew … but that missing guidance was disappointing and we had more capital requirements than we thought we would.

“And the reason we had those capital requirements was these development projects cost money but they are the future of the company in very big spaces.

“So put that together and we’ve got a lot of things that need to be organised moving forward but I think we’re really on the right track now — we’re in a point where the stock can really start to recover as the good news continues to come out.”

Admedus expects to hold its upcoming annual general meeting on May 14, 2019, in Brisbane.

 

 

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Thu, 28 Mar 2019 17:30:00 +1100 https://www.proactiveinvestors.com.au/companies/news/217329/admedus-delivers-results-with-heart-driven-corporate-strategy-217329.html
<![CDATA[Media files - Admedus CEO in New York to update on recent key milestones ]]> https://www.proactiveinvestors.com.au/companies/stocktube/12628/admedus-ceo-in-new-york-to-update-on-recent-key-milestones-12628.html Sun, 17 Mar 2019 20:16:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/12628/admedus-ceo-in-new-york-to-update-on-recent-key-milestones-12628.html <![CDATA[News - Admedus receives European CE Mark for CardioCel 3D® and VascuCel® ]]> https://www.proactiveinvestors.com.au/companies/news/216130/admedus-receives-european-ce-mark-for-cardiocel-3d-and-vascucel-216130.html Admedus Ltd (ASX:AHZ) has received regulatory approval in the form of the CE Mark for its CardioCel® 3D product portfolio and its collagen bioscaffold VascuCel® in Europe.

Regulatory approval is an important step forward as the company continues to increase global sales.

Admedus intends to commence the first phase of its commercial launch of CardioCel 3D® later this month, initially working with selected key opinion leaders familiar with the technology.

Professor Tomasz Mroczek of Poland said: “After our initial positive experience with ADAPT® we are excited to have the choice of these 3D shaped products that will produce better reconstructions for complex aortic arch repair surgeries.

READ: Admedus delivers $25.6 million in total group revenue for the 2018 financial year

Admedus’s CEO Wayne Paterson said: “Obtaining CE Mark approval for the 3D portfolio is a further endorsement of the medical need and effectiveness of our 3D shaped collagen bioscaffold; a world first technology with proven anticalcification properties and zero DNA.

“Today’s approval of the 3D portfolio in Europe further reinforces the company’s focus on global strategic growth with geographic expansion into key markets and portfolio expansion of ADAPT® tissue technology products.”

Admedus’s ADAPT® products are sold globally under the product names CardioCel®, CardioCel Neo®, CardioCel 3D®, and VascuCel®.

Proven and peer-reviewed clinical benefits

The ADAPT® tissue technology portfolio has published scientifically proven and peer-reviewed clinical benefits leading to better outcomes for patients, surgeons and savings to overall healthcare expenditure.

Paterson added: “The 3D single piece aortic valve is unique in the industry and forms the backbone of the company’s TAVR developmental project which has been expedited.

“We have now confirmed that human clinical trials will commence earlier than planned, and the development project has already generated great interest within the global medical community as the ADAPT® portfolio of products expand from mainly paediatric use to a wider patient population in the future.”

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Mon, 11 Mar 2019 09:38:00 +1100 https://www.proactiveinvestors.com.au/companies/news/216130/admedus-receives-european-ce-mark-for-cardiocel-3d-and-vascucel-216130.html
<![CDATA[News - Admedus delivers $25.6 million in total group revenue for the 2018 financial year ]]> https://www.proactiveinvestors.com.au/companies/news/215576/admedus-delivers-256-million-in-total-group-revenue-for-the-2018-financial-year-215576.html Admedus Ltd (ASX:AHZ) has delivered revenue of $25.6 million for the financial year ending December 31, 2018, up 20% year-on-year versus the total group revenue of $21.4 million in 2017.

In December 2017 Admedus changed its financial year-end from June 30 to December 31 to align the company’s financial reporting with its global business sales cycle.

Most of the revenue growth was driven by ADAPT technology sales, which is used to repair congenital heart deformities and more complex heart defects.

ADAPT sales grew 55% year-on-year to $11.1 million compared to $7.2 million in 2017.

The increase was driven by sales in North America, which is the first market where the expanded 3D product range including CardioCel, CardioCel Neo and VascuCel launched last year.

READ: Admedus reports $6.3 million revenues amid $12.7 million Star Bright backing

Admedus managing director and chief executive officer Wayne Paterson said: “The developments over the past year form a solid basis for a sustainable global business.

“ADAPT revenue growth was 55% over the previous year which is significantly higher than cost growth.

“Uptake throughout 2018 continued to increase, as more key opinion leaders and surgeons have started to use or increased their utilisation of ADAPT treated products.

“The company continues to take market share away from large and more established competitors via superior clinical data, increasing KOL advocacy and an expanding portfolio of unique products.”

READ: Admedus receives first data from animal study on heart valve device

Selling, general and administration expenses (SG&A), including research and development spend, was $34.3 million for 2018.

In 2018 SG&A costs for ADAPT declined as a percentage of revenue from 142% to 122%, with gross profit for the group for the year being $12.4 million, representing a gross profit margin of 49%.

Net loss after tax was marked at $24.7 million and the closing cash balance on December 31, 2018, was $12 million, up from $8.3 million on December 31, 2017.

READ: Admedus secures $8.6 million as Sio Partners becomes substantial holder

Paterson added: “Our 3D aortic valve, the central component of our TAVR device is also progressing and we’re working closely with our TAVR medical advisory board who are helping direct our engineers to develop a unique and competitive TAVR device.

“The current market worth is estimated to be upwards of US$12 billion by 2025 and these new products will help the company continue to expand into the larger adult market while maintaining high levels of adoptions in the niche paediatric segments.” 

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Thu, 28 Feb 2019 21:14:00 +1100 https://www.proactiveinvestors.com.au/companies/news/215576/admedus-delivers-256-million-in-total-group-revenue-for-the-2018-financial-year-215576.html
<![CDATA[News - Admedus receives first data from animal study on heart valve device ]]> https://www.proactiveinvestors.com.au/companies/news/214825/admedus-receives-first-data-from-animal-study-on-heart-valve-device-214825.html Admedus Ltd (ASX:AHZ) has received interim data from the animal study of its single-piece 3D aortic valve, which involved five sheep being implanted and monitored for five months.

Data collected from the first four sheep suggests that the device can be implanted safely and has the potential to deliver meaningful clinical benefits.

Following the positive findings in this feasibility study, Admedus now confirms it could initiate a first-in-human clinical trial earlier than expected.

The study has demonstrated that these stentless valves can be implanted with reasonable ease, without any major adverse event.

READ: Admedus secures $8.6 million as Sio Partners becomes substantial holder

Admedus chief medical officer Dr Kiran Bhirangi said: “The purpose of this feasibility study is to assess whether there is merit to progress to a larger animal study, and human clinical trials – and the results we have so far strongly support this.

“The findings are very encouraging for several reasons. The sheep model is well accepted and a good predictor of the effectiveness of the technology.”

Proven resistance to calcification

Admedus CEO Wayne Paterson said: “Calcification is a major issue for surgeons and patients today when treating valvular disease.

“Our ADAPT® tissue is the only product of its kind that has data demonstrating ten years without calcification or degradation. Combining this unique benefit with the first and only single piece 3D valve could be a major disruption in the treatment strategies for patients in the future.

Potential market leader in US$12 billion market

“ADAPT® TAVR would be a breakthrough for patients needing valve replacement.

“The TAVR market is expected to be $US12 billion by 2025. If the earlier results translate to true clinical superiority, ADAPT® TAVR could be well placed to be the market leader.

Preliminary data but well-studied

“It’s important to acknowledge the preliminary nature of this data. However, the combination of a novel single-piece 3D aortic valve and the ADAPT® technology which has been studied for ten years and is already used in over 16,000 patients is showing demonstrable clinical benefits.”

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Tue, 19 Feb 2019 11:13:00 +1100 https://www.proactiveinvestors.com.au/companies/news/214825/admedus-receives-first-data-from-animal-study-on-heart-valve-device-214825.html
<![CDATA[News - Admedus secures $8.6 million as Sio Partners becomes substantial holder ]]> https://www.proactiveinvestors.com.au/companies/news/212919/admedus-secures-86-million-as-sio-partners-becomes-substantial-holder-212919.html Admedus Limited (ASX:AHZ) has secured a further $8.6 million in funding through shares placed to an initial substantial holder in its underwriting agreement from late November.

The new substantial holder Sio Partners and Capital Management have obtained 131,120,851 fully paid ordinary shares in Admedus, representing a 22.2% interest in the bio-tech company.

The company’s partially underwritten renounceable pro-rate entitlement offer was completed last quarter and raised a total of $19 million.

Admedus had a closing cash balance of $12 million at the end of last year.

READ: Admedus directors show faith in company by participating in rights issue

Revenue for the quarter was $6.5 million, nearly half made up by ADAPT sales which represents growth of 46% over the prior corresponding period.

This has been driven by double-digit growth in all regions as well as favourable US dollar foreign exchange movements.

The North American business grew by 61% and featured the launch of Admedus’ expanded CardioCel 3D product range.

ADAPT in Europe grew 17% and Admedus’ Infusion division delivered sales of $3.5 million, growing 17% excluding the termination of its GO Medical distribution agreement.

READ: Admedus appoints new chief medical officer to focus on growth opportunities

ADAPT is a pioneering technology that enables the manufacture of biomaterial scaffolds that mimic human tissue.

It has been used to create scaffolds, such as the next generation collagen scaffold VascuCel, used in cardiac repairs and reconstruction procedures for many years.

The rights issue marks an important step in Admedus’ recapitalisation plan that it has been working towards since August 2018.

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Sun, 20 Jan 2019 21:28:00 +1100 https://www.proactiveinvestors.com.au/companies/news/212919/admedus-secures-86-million-as-sio-partners-becomes-substantial-holder-212919.html
<![CDATA[News - Admedus directors show faith in company by participating in rights issue ]]> https://www.proactiveinvestors.com.au/companies/news/211696/admedus-directors-show-faith-in-company-by-participating-in-rights-issue-211696.html Admedus Ltd (ASX:AHZ) directors have demonstrated their confidence in the company’s medical technology strategy by participating in a rights issue which has raised $18.96 million.

The partially underwritten issue closed earlier this month after receiving 5.37 million worth of applications with an additional $13.58 million worth of shares placed with underwriters.

Admedus also has the right to place the shortfall valued at $1.2 million within three months of the closure of the rights issue.

READ: Admedus closes rights issue, secures $18.9 million

Chairman John Seaburg acquired 700,000 shares with a value of $56,000 and now holds 885,703 shares.

President and CEO Wayne Paterson also acquired 700,000 shares and now holds 916,667 shares.

Entities associated with new director Lishan Zhang acquired almost 62.9 million shares with a total value of more than $5.03 million:

- Carron Services Limited acquired more than 1.190 million shares and now holds more than 2.857 million; - Star Bright Holding Ltd acquired more than 14.528 million shares and now holds almost 17.368 million; - Constellation Immunotherapy Limited purchased more than 16.753 million and now holds more than 40.209 million; and - Constellation International (Group) Holdings bought more than 30.424 million and now holds more than 73.019 million.

Another new director, Dr Yanheng Wu, also holds indirect interests in Constellation Immunotherapy and Constellation International Group.

An equal number of options were allocated to rights issue participants at an exercise price of 8 cents, expiring on December 18, 2021.

READ: Admedus appoints Star Bright nominees as non-executive directors

Both were recently appointed to the board as non-executive directors representing major investor Star Bright Holding Ltd.

Zhang is a highly successful businesswoman and entrepreneur with a significant network in China that is expected to greatly benefit Admedus.

She is the chair of Constellation International, a Hong Kong-based company with multiple interests in the development of new biotechnology assets including vaccines, nanotechnology, biomedical materials and minimally invasive tumour treatments.

Dr Wu is president and managing director of Constellation International and has a PhD in tumour immunotherapy and nanocarrier technology from The University of Queensland.

In 2016, he established Guangzhou Hearty-Care Biotechnology Ltd, a medical technology company that is now owned by Constellation International.

Constellation International is strengthening its capabilities in the research and development of medical technology and commercialising innovative products.

The company plans to build a world-class life science industry complex in Shenzhen.

It intends to form a joint venture with Admedus to help commercial operations in China and fund clinical development programs.

Developing ADAPT portfolio

Funding secured from the capital raising will support Admedus in consolidating and further developing its ADAPT portfolio and position itself for the development of new products in 2019.

ADAPT is a pioneering technology that enables the manufacture of biomaterial scaffolds that mimic human tissue.

It has been used to create scaffolds, such as the next generation collagen scaffold VascuCel, used in cardiac repairs and reconstruction procedures for many years.

The rights issue marks an important step in Admedus’ recapitalisation plan that it has been working towards since August 2018.

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Mon, 24 Dec 2018 10:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211696/admedus-directors-show-faith-in-company-by-participating-in-rights-issue-211696.html
<![CDATA[News - Admedus closes rights issue, secures $18.9 million ]]> https://www.proactiveinvestors.com.au/companies/news/211270/admedus-closes-rights-issue-secures-189-million-211270.html Admedus Ltd (ASX:AHZ) closed its partially underwritten rights issue last Thursday receiving $5.37 million worth of applications.

An additional $13.58 million worth of shares will be placed with the underwriters meaning a total of $18.96 million in funding has been secured.

Eligible shareholders were able to subscribe for five new shares priced at 8 cents for every seven existing shares held.

New shares also came with an attaching option exercisable at 8 cents expiring three years from the date of issue.

READ: Admedus appoints Star Bright nominees as non-executive directors

Admedus also has the right to place the shortfall valued at $1.2 million within three months of the closure of the rights issue, being last Thursday.

The new shares and new options issued under the rights offer are expected to be allotted today and begin normal trading tomorrow.

READ: Admedus appoints new chief medical officer to focus on growth opportunities

The rights issue marks an important step in Admedus’ recapitalisation plan that it has been working towards since August 2018.

Funding secured from the capital raising will support Admedus in consolidating and further developing its ADAPT portfolio and position itself for the development of new products in 2019.

ADAPT is a pioneering technology that enables the manufacture of biomaterial scaffolds that mimic human tissue.

It has been used to create scaffolds, such as the next generation collagen scaffold VascuCel, used in cardiac repairs and reconstruction procedures for many years.

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Mon, 17 Dec 2018 08:24:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211270/admedus-closes-rights-issue-secures-189-million-211270.html
<![CDATA[News - Admedus appoints Star Bright nominees as non-executive directors ]]> https://www.proactiveinvestors.com.au/companies/news/211011/admedus-appoints-star-bright-nominees-as-non-executive-directors-211011.html Admedus Ltd (ASX:AHZ) has appointed Lishan Zhang and Dr Yanheng Wu as non-executive directors, representing its major investor Star Bright Holding Ltd.

READ: Admedus reports $6.3 million revenues amid $12.7 million Star Bright backing

Zhang is a highly successful businesswoman and entrepreneur with a significant network in China that is expected to greatly benefit Admedus.

She is the chair of Constellation International Group Holdings Ltd., a Hong Kong-based company with multiple interests in the development of new biotechnology assets including vaccines, nanotechnology, biomedical materials and minimally invasive tumour treatments.

Dr Wu is the president and managing director of Constellation International and has a PhD in tumour immunotherapy and nanocarrier technology from The University of Queensland.

In 2016, he established Guangzhou Hearty-Care Biotechnology Ltd., a medical technology company that is now owned by Constellation International.

READ: Admedus returns to exchange and launches a $20.2 million capital raising

Admedus chief executive officer Wayne Paterson said: “I am very excited to welcome both Ms Zhang and Dr Wu to our board of directors.

“As a major investor, Star Bright’s interest is aligned with our shareholders, and they are committed to furthering the commercial and development success of Admedus.

“China is a very important market within our global growth strategy. Both Ms Zhang and Dr Wu bring commercial and scientific experience and networks, which will be of great value.”

New joint venture in China

Constellation International is strengthening its capabilities in the research and development of medical technology and commercialising innovative products.

The company plans to build a world-class life science industry complex in Shenzhen.

It intends to form a joint venture with Admedus to help commercial operations in China and fund clinical development programs.

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Wed, 12 Dec 2018 12:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/211011/admedus-appoints-star-bright-nominees-as-non-executive-directors-211011.html
<![CDATA[News - Admedus appoints new chief medical officer to focus on growth opportunities ]]> https://www.proactiveinvestors.com.au/companies/news/210431/admedus-appoints-new-chief-medical-officer-to-focus-on-growth-opportunities-210431.html Admedus Ltd (ASX:AHZ) has appointed Dr Kiran Bhirangi as its chief medical officer, responsible for accelerating the biotech company’s research projects to generate new product launches.

Bhirangi will take a leading role in driving Admedus’ transcatheter aortic valve replacement (TAVR) and surgical aortic valve replacement (SAVR) projects as well as other catheter-based projects to expand the ADAPT portfolio of products.

The company will also today send its company prospectus together with personalised entitlement and acceptance forms to eligible shareholders to participate in a renounceable pro-rata entitlement offer.

The partially underwritten offer will be for five new shares for every existing seven held at an issue price of 8 cents per new share, raising up to $20.2 million.

Each new share includes one free attaching new option with an exercise price of 8 cents, expiring three years from issue.

READ: Admedus returns to exchange and launches a $20.2 million capital raising

Admedus chief executive officer Wayne Paterson said: “We are very pleased to welcome Dr Bhirangi to Admedus as the chief medical officer.

“His extensive global experience in the cardiovascular area, both as a clinician and corporate executive, is a great asset to the company.

“With the addition of a truly global talent like Dr Bhirangi to our leadership team, we are moving the company and our industry-leading technology into a new era of scientific and commercial development.

READ: Admedus reports $6.3 million revenues amid $12.7 million Star Bright backing

As a qualified vascular surgeon, Bhirangi will bring substantial leadership experience in medical affairs and clinical research in the field of cardiology.

Bhirangi will be responsible for coordinating global medical affairs strategies, clinical compliance, global clinical study programs and developing Admedus’ clinical publications and scientific presentations strategies.

His previous roles include: global head of medical and vice president clinical development and medical affairs for Cardiome AG; head of medical affairs for Shire Human Genetic Therapies; and medical director for Johnson and Johnson subsidiary OrthoBiotech Products.

Bhirangi has a Bachelor of Medicine, Bachelor of Surgery and Master of Surgery from Bombay University and fellowship of the Royal College of Surgeons in Ireland.

He is widely published and has conducted extensive industry-sponsored research.

READ: Admedus secures strategic cornerstone investor from Hong Kong

ADAPT was invented by Admedus’ cardiovascular science vice-president Professor Leon Neethling and is a pioneering technology to enable the manufacture of biomaterial scaffolds that mimic human tissue.

It has been used to create scaffolds, such as the next generation collagen scaffold VascuCel, used in cardiac repairs and reconstruction procedures for many years.

Major shareholder Star Bright, which has a 19.99% stake in Admedus, has acknowledged the potential of the ADAPT technology to deliver tangible benefits for the global medical community and its patients.

ADAPT sales grew by 63% to $3.1 million in the September 2018 financial quarter when compared to the previous corresponding period, driven by US, EU and emerging market growth, and favourable exchange rate movements.

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Mon, 03 Dec 2018 20:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210431/admedus-appoints-new-chief-medical-officer-to-focus-on-growth-opportunities-210431.html
<![CDATA[News - Admedus returns to exchange and launches a $20.2 million capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/210087/admedus-returns-to-exchange-and-launches-a-202-million-capital-raising-210087.html Admedus Ltd (ASX:AHZ) (OTCMKTS:AMEUF) has been reinstated to the Australian Securities Exchange after launching a partially-underwritten capital raising to attract up to $20.2 million.

The company expects to raise at least $12 million with its international entitlement offer, taking into account underwriting fees and repayment of a $5 million loan

BIG PICTURE: Admedus reports $6.3 million revenues amid $12.7 million Star Bright backing

The medical technologies company’s core business is to help healthcare professionals create life-changing outcomes for patients.

Admedus is offering five fully paid new shares for even seven held by its investors.

The new shares are priced at 8 cents each, a 40.74% discount to the 13.5-cent last-traded price of shares on August 1, 2018.

The price is a 38.6% discount to the volume-weighted average issue price paid by its major shareholder Star Bright Holding Ltd under an 11.2-cent placement completed on September 5, 2018.

Each new share will come with a free-attaching option with an 8-cent exercise price that expires three years from the issue date.

READ: Admedus appoints experienced finance executive as interim CFO

Admedus chief executive officer Wayne Paterson highlighted the offer’s importance to the company’s recapitalisation efforts.

He said: “The entitlement offer marks an important step in Admedus’ recapitalisation plan that it has been working towards since August 2018.

“Capital raised from this rights issue will provide funding for Admedus to consolidate and further develop the ADAPT portfolio and position itself for the development of new products in 2019.”

READ: Admedus appoints Steve Denaro to the board

ADAPT was invented by Admedus’ cardiovascular science vice-president Professor Leon Neethling and is a pioneering technology to enable the manufacture of biomaterial scaffolds that mimic human tissue.

It has been used to create scaffolds, such as the next generation collagen scaffold VascuCel, used in cardiac repairs and reconstruction procedures for many years.

Major shareholder Star Bright, which has a 19.99% stake in Admedus, has acknowledged the potential of the ADAPT technology to deliver tangible benefits for the global medical community and its patients.

ADAPT sales grew by 63% to $3.1 million in the September 2018 financial quarter when compared to the previous corresponding period, driven by US, EU and emerging market growth, and favourable exchange rate movements.

The entitlement offer is partially underwritten by several investors for $9.1 million before underwriter fees.

READ: Admedus completes placement to strategic cornerstone investor Star Bright Group

Admedus’ chief highlighted the confidence shown by the parties who had chosen to underwrite the company’s offer.

Paterson said, “Investors should gain confidence from the funding that has been committed to the entitlement offer through underwriting from majority shareholder Star Bright Holding Limited and SIO Partners, LLC, a US-based healthcare-dedicated institutional investment fund.”

Star Bright is a private investment company owned by Zhang Lishan, whose business interests are primarily global asset and equity investments.

Admedus shareholders registered to Australian, New Zealand, Hong Kong, Singaporean and Philippines addresses have until 7pm market time on Monday next week, December 3, to subscribe for new shares.

Shareholders may sell all of their entitlements, part of them or transfer them to another person.

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Wed, 28 Nov 2018 00:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/210087/admedus-returns-to-exchange-and-launches-a-202-million-capital-raising-210087.html
<![CDATA[News - Admedus appoints experienced finance executive as interim CFO ]]> https://www.proactiveinvestors.com.au/companies/news/209875/admedus-appoints-experienced-finance-executive-as-interim-cfo-209875.html Admedus Limited (ASX:AHZ) has appointed experienced finance executive and former KPMG partner Matthew McDonnell as its interim chief financial officer.

With more than 24 years at KPMG, including 10 years as a partner, McDonnell brings a broad range of industry experience and corporate governance acumen to Admedus, which is currently voluntarily-suspended.

Appointment welcomed

McDonnell’s experience will be welcomed by Admedus as he has delivered audit, accounting and advisory services across a wide range of sectors.

READ: Admedus reports $6.3 million revenues amid $12.7 million Star Bright backing

Admedus CEO Wayne Paterson said, “I am very pleased to welcome a manager of Matthew’s calibre to our executive team.

“His presence in the management team will add significant value to the strategic finance process.

“Matthew’s multi-industry global experience will help us execute our capital management strategy as we enter our next phase of growth and development.

“Being highly skilled in governance, managerial finance, technical accounting matters and risk management, Matthew’s input will bring enormous advantage to Admedus and its shareholders, as we continue to grow global sales of our ADAPT® portfolio and advance our product development program.”

READ: Admedus appoints Steve Denaro to the board

At KPMG, McDonnell worked in Australia and the US, covering financial services, transport, industrial markets, health, childcare and energy.

The chartered accountant who holds a Bachelor of Economics from Macquarie University in NSW, has experience in restructures, acquisitions, divestments, privatisations and other significant financial transactions.

McDonnell was notably involved in Queensland Government restructures and privatisations; Linc Energy’s re-listing on the Singapore Exchange; and acquisitions such as Virgin Australia’s purchase of Skywest.

He is also director of the State Library of Queensland and was chair of the Audit and Risk Management Committee for eight years.

READ: Admedus completes placement to strategic cornerstone investor Star Bright Group

Admedus is a medical technologies company delivering clinical solutions that help healthcare professionals create life-changing outcomes for patients.

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Mon, 26 Nov 2018 13:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209875/admedus-appoints-experienced-finance-executive-as-interim-cfo-209875.html
<![CDATA[News - Admedus reports $6.3 million revenues amid $12.7 million Star Bright backing ]]> https://www.proactiveinvestors.com.au/companies/news/209049/admedus-reports-63-million-revenues-amid-127-million-star-bright-backing-209049.html Admedus Ltd (ASX:AHZ) (OTCMKTS:AMEUF) wrote $6.3 million in revenues in the September 2018 financial quarter after raising $7.7 million from cornerstone investor Star Bright Holding Ltd this year.

A $3.425 million sum was received from equity investor Zhang Lishan’s wholly-owned investment vehicle Star Bright in the September quarter.

READ: Admedus appoints Steve Denaro to the board

Strategic cornerstone investor Star Bright now holds about 19.99% of Admedus, which the Hong Kong investor has built up this year.

The Queensland company, which has a market capitalisation of $47.6 million, also attracted a three-year unsecured $5 million loan facility with a 5% annual coupon from its strategic investor.

Admedus’ latest facility allowed it to pay off a higher interest Partners for Growth facility that had a $10 million face value.

Star Bright’s support has allowed Admedus to progress a medical technologies strategy to allow it to expand and progress its strategic projects while it worked to accelerate its 3D product portfolio from development to commercialisation.

Admedus is pleased to have received regulatory approval for #CardioCel in Vietnam and #CardioCel3D in the United Arab Emirates. Read more here — https://t.co/LlWd3oAOq1 pic.twitter.com/MjkVNDaGZu

— Admedus (@Admedus) September 13, 2018

The Milton, Brisbane-based medical technologies company has operations in Singapore, Geneva and Minneapolis and is undertaking a strategic review and recapitalisation plan.

Its securities have been suspended from quotation since August 6, 2018, with the extension being extended on September 3, 2018 at the company’s request as it finalised a “broader recapitalisation plan”.

Admedus chief executive officer Wayne Paterson said in September that Zhang and Star Bright were “aligned with our mission to deliver clinically superior solutions to patients.”

He said in May, “Since the implementation of our new strategy, the company has worked diligently across all areas to improve efficiencies, reduce expenses and elevate the reputation and credibility of the business within the global medtech sector.”

READ: Admedus secures strategic cornerstone investor from Hong Kong

Star Bright and Admedus are currently negotiating a long-term funding agreement for the company’s vaccines subsidiary Admedus Immunotherapies.

An execution of their recent memorandum of understanding (MoU) for the vaccines business would see Star Bright take a 60% share in the Admedus subsidiary for an initial investment of $18 million.

Admedus today announced HK-based strategic investor, Star Bright Holding Ltd, will increase its investment in the Company to 19.99% and nominate new representatives to the BOD. Read the full ASX Announcement here — https://t.co/gZ6wqaLO6h

— Admedus (@Admedus) September 3, 2018 Revenue generators

Admedus ADAPT technology is one of its major income earners, with the other being its infusion division business.

ADAPT underpins the company’s CardioCel bio-scaffold material which is used to repair congenital heart deformities and more complex heart defects.

The bio-scaffold is also used to reconstruct dysfunctional heart valves and valve leaflets.

Other uses include arch repair; pulmonary valve annulus transannular patching; aortic root expansion/repair; intracardiac baffles; right ventricular outflow tract reconstruction; great vessel reconstruction; and addressing holes in the heart, such as those seen in atrial septal defects (ASDs) and ventricular septal defects (VSDs).

CardioCel is cleared for sale in Europe, the US, Canada, Hong Kong, Malaysia, Singapore, New Zealand, India and Middle East and North Africa region.

A July deal with Italy-based Medical Instruments S.p.A allowed the partner to exclusively market and distribute the product in the European Union (EU) nation.

@Admedus was pleased to take part in the 7th Congress of the Asia
Pacific Paediatric Cardiac Society where our KOLs presented the benefits of #adapt and #cardiocel and hosted a special Asia Pacific Congenital Heart
Experts meeting. pic.twitter.com/gBnyjbEx52

— Admedus (@Admedus) September 4, 2018

Admedus reported ADAPT sales grew by 63% to $3.1 million in the September 2018 financial quarter when compared to the previous corresponding period, driven by US, EU and emerging market growth, and favourable exchange rate movements.

The company’s European ADAPT business experience 24% growth when compared to the previous corresponding period after four consecutive quarters of decline despite delays to regulatory approvals in the region and emerging markets.

Admedus’ North American ADAPT business delivered strong 80% sales growth in the September quarter when compared to the previous corresponding period, as the company prepared to launch an expanded ADAPT 3D portfolio in the US expected early on in the fourth quarter.

The company reported in its September 2018 quarter report: “These launches (to surgeons) represent an important milestone in our product portfolio as we strengthen our offerings and execute the strategy to pursue additional indications where high unmet need requires a durable scaffold and complex shapes.

“Across all three segments — coronary heart disease, vascular, and adult structural heart — 18 new accounts were opened (last quarter).

“This resulted in double-digit growth across our product portfolio, including CardioCel 3D and VascuCel.”

Another product based on the ADAPT technology is CardioCel Neo.

The Infusion division meanwhile delivered $3.2 million sales of for the quarter, a 3% growth compared to the previous corresponding period.

We loved taking part in the recent @MLH_CHD symposium! Meeting those affected by #chd motivates us to keep finding innovative #ADAPT solutions and treatment options. Thanks to our team member Jackie Ingram who did a great job representing #AHZ! https://t.co/8BrnJXtLrx

— Admedus (@Admedus) July 25, 2018

During the period GO Medical’s contract was terminated and Admedus renewed its exclusive distribution agreement with Summit Medical for an eight-year period.

Admedus wrote in its quarterly report released on October 31, 2018, “The performance of the Infusion business this quarter reflects the near full impact of our previous announcement regarding the termination of our distribution agreement with GO Medical.

“Performance during the quarter reflects underlying growth which substantially offsets the impact of the GO Medical contract termination.”

Earlier in the year, in the July quarter, Admedus renewed its exclusive distributorship agreement with Utah-based Summit Medical Products Inc that will allow it to continue distributing the US partner’s medication and pain-relief ambIT infusion pumps in Australia and New Zealand.

$AHZ Admedus extends successful distribution deal for medication delivery pumps https://t.co/dkQ5zDmji3 via @proactive_au @ADMEDUS #AHZ #brighterir #Doporto #CapitalNetwork1

— Proactive Investors (@proactive_au) August 9, 2018 Pipeline project

Admedus is progressing a transcatheter aortic valve replacement (TAVR) project which it reported in late October “continues to progress with the advisory board unanimously endorsing the acceleration of this groundbreaking product.”

The company’s project team is hitting milestones ahead of schedule, achieving key outcomes during the September 2018 quarter.

By using its ADAPT cardiac shaping technology and its precision thinning technology Admedus produced what it calls the first single-piece heart valves “from significantly thinner tissue than what is currently available”.

The company also progressed the engineering of its placement and deployment mechanisms, lodging three patents for along a catheter and one for a valve deployment mechanism.

Admedus is taking a partnership approach to the project’s development and commercialisation, identifying key target partners.

Members of the company’s advisory board have contacted the prospective project partners, pencilling in discussions for the December 2018 quarter.

The TAVR market is worth about US$3.5 billion a year and is expected to grow to US$5 billion by 2020.

Admedus Sees Success with Initial Live Animal Testing of #3DPrinted TAVR Heart Valve https://t.co/N2ZpoHI8i3#3Dprinting @Admedus

— 3DPrint (@3DPrint_com) July 12, 2018 Expansion to China and research plans

Admedus is looking to establish a commercial base in China with Star Bright’s help.

The company has reported it has started negotiations with the strategic partner, saying “A JV with a credible partner, and additional resources, will enable Admedus to enter the market in a way that was not previously possible and allow for the shared cost of the upcoming ADAPT product registration study.”

A meta-analysis of a series of 600 patients and 830 implants enrolled in a multicentre study in Australia and the UK was completed in the September 2018 quarter.

The company said it had “demonstrated superior results across the entire spectrum of indications within congenital heart defect repair.”

Admedus that when compared to research into competing products, the peer-reviewed and presented study results showed a “meaningful clinical benefits for patients and physicians” from its technology.

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Mon, 12 Nov 2018 20:00:00 +1100 https://www.proactiveinvestors.com.au/companies/news/209049/admedus-reports-63-million-revenues-amid-127-million-star-bright-backing-209049.html
<![CDATA[News - Admedus appoints Steve Denaro to the board ]]> https://www.proactiveinvestors.com.au/companies/news/208273/admedus-appoints-steve-denaro-to-the-board-208273.html Admedus Ltd (ASX:AHZ) has appointed experienced tax professional Streve Denaro to sit on its board as a non-executive director and company secretary.

The chartered accountant and registered tax agent has more than 30 years of senior and board level experience across publicly listed companies serving at CFO, director and company secretary.

Admedus’s chairman John Seaberg said: “We are very pleased to welcome Steve to the Admedus board.

“His comprehensive experience in financial management and deep understanding of the Australian and global financial regulatory environments make him a valuable addition to the company’s leadership as we pursue exciting new strategic opportunities.”

READ: Admedus completes placement to strategic cornerstone investor Star Bright Group

Substantial investor, Star Bright Holding Ltd and its associated companies recently increased its shareholding to 19.99%.

The ownership is a result of participation in 2018 capital raisings which came in the form of share placements.

Admedus is also negotiating with Star Bright in respect of a long-term funding agreement for Admedus Immunotherapies.

The two parties entered a memorandum of understanding (MoU) for a 60% share of the vaccines business for an initial investment of $18 million.

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Thu, 01 Nov 2018 08:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/208273/admedus-appoints-steve-denaro-to-the-board-208273.html
<![CDATA[News - Admedus completes placement to strategic cornerstone investor Star Bright Group ]]> https://www.proactiveinvestors.com.au/companies/news/205083/admedus-completes-placement-to-strategic-cornerstone-investor-star-bright-group-205083.html Admedus Limited (ASX:AHZ) has completed the placement of more than 70 million shares to Hong Kong-based significant investor Star Bright Group.

The latest investment takes Star Bright’s total interest in the company to 19.99% of issued shares for a total investment of almost $7.7 million.

READ: Admedus secures strategic cornerstone investor from Hong Kong

The placement follows Star Bright’s recent subscription for shares valued at $500,000 as part of an Admedus placement in May 2018 and another placement raising almost $4.26 million, issued on August 22, 2018.

Admedus is also negotiating with Star Bright in respect of a long-term funding agreement for Admedus Immunotherapies.

In this regard, the company has entered an MOU for a 60% share of the vaccines business for an initial investment of $18 million

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Tue, 18 Sep 2018 15:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/205083/admedus-completes-placement-to-strategic-cornerstone-investor-star-bright-group-205083.html
<![CDATA[News - Admedus receives $3.425 million in funds from further Star Bright placement ]]> https://www.proactiveinvestors.com.au/companies/news/204191/admedus-receives-3425-million-in-funds-from-further-star-bright-placement-204191.html Admedus Limited (ASX:AHZ) has received more than $3.425 million in funds from a placement of more than 26 million shares to new Hong Kong-based significant investor Star Bright Holding Ltd.

This completes the placement to Star Bright announced on Monday.

It takes Star Bright’s total interest in the company to 19.99% of issued shares for a total investment of almost $7.7 million.

READ: Admedus secures strategic cornerstone investor from Hong Kong

The investment follows Star Bright’s recent subscription for shares valued at $500,000 as part of an Admedus placement in May 2018 and another placement raising almost $4.26 million, issued on August 22, 2018.

Admedus is also negotiating with Star Bright in respect of a long-term funding agreement for Admedus Immunotherapies.

In this regard, the company has entered an MOU for a 60% share of the vaccines business for an initial investment of $18 million.

Star Bright will assist in China

As well as the equity investments, Star Bright has indicated their interest in helping to establish an Admedus commercial base in China in the near term.

Star Bright is a private investment company owned by Madam Zhang Lishan, whose business interests are primarily global asset and equity investments.

These include investments in the medical and healthcare industry, with a mission to support the long-term development of global medical care and to help patients in need.

READ: Admedus extends successful distribution deal for medication delivery pumps

Star Bright recognises the potential of Admedus’ ADAPT technology to deliver tangible benefits for the global medical community and its ability to improve the lives and health outcomes of patients.

Admedus is a medical technologies company delivering clinically superior solutions that help healthcare professionals create life-changing outcomes for patients.

The focus is on investing in and developing next-generation technologies with world-class partners, acquiring strategic assets to grow product and service offerings and expanding revenues from its existing medical sales and distribution business.

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Wed, 05 Sep 2018 15:06:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204191/admedus-receives-3425-million-in-funds-from-further-star-bright-placement-204191.html
<![CDATA[News - Admedus secures strategic cornerstone investor from Hong Kong ]]> https://www.proactiveinvestors.com.au/companies/news/204009/admedus-secures-strategic-cornerstone-investor-from-hong-kong-204009.html Admedus Ltd (ASX:AHZ) continues to build its relationship with strategic investor and shareholder Star Bright Holding Ltd, who will increase its holding to 19.99%.

Star Bright has agreed to subscribe for up to an additional 68.9 million shares in Admedus as part of a share placement raising up to $7.7 million.

Admedus has also entered into a $5 million unsecured loan facility with Star Bright for the purposes of repaying the existing, higher interest loan from Partners For Growth.

READ: Admedus extends successful distribution deal for medication delivery pumps

Admedus’s CEO Wayne Paterson said: “Having already indicated a commitment to provide $18 million of long-term funding to our Immunotherapies business, and having participated in the last capital raise, Star Bright have demonstrated their belief and interest in our company.

“Madam Zhang, and her company, are aligned with our mission to deliver clinically superior solutions to patients and we welcome a significant strategic investor onto our register.”

A gateway to China

Star Bright is a Hong Kong-based private investment company 100% owned by Madam Zhang Lishan whose business interests are primarily global asset and equity investments,

Star Bright recognises the potential of Admedus’ ADAPT technology to deliver tangible benefits for the global medical community and its ability to improve the lives and health outcomes of patients.

As well as their equity investment, Star Bright has indicated their interest in helping to establish an Admedus commercial base in China in the near term.

Star Bright’s shares will be issued in two tranches

The first tranche of 42.59 million shares priced at 10 cents raising $4.25 million was issued on 22 August 2018.

The second tranche of 26.28 million shares will be priced at 13.03 cents will raise an addition $3.42 million and is yet to be issued.

Notably, Star Bright has agreed not to sell the placement shares for 12 months from their issue date.

Beneficial loan facility terms

The new Star Bright $5 million unsecured loan facility has a three year term on a 5% annual coupon payable quarterly with the potential for shares to be issued in lieu of the coupon payment.

The previous loan facility has now been repaid and had a much higher interest rate of 11.75%.

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Mon, 03 Sep 2018 09:48:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204009/admedus-secures-strategic-cornerstone-investor-from-hong-kong-204009.html
<![CDATA[News - Admedus extends successful distribution deal for medication delivery pumps ]]> https://www.proactiveinvestors.com.au/companies/news/202539/admedus-extends-successful-distribution-deal-for-medication-delivery-pumps-202539.html Admedus Ltd (ASX:AHZ) has renewed its exclusive distribution agreement with Utah-based Summit Medical Products Inc for a further eight years.

The updated arrangement confirms the long-standing relationship between the two companies, which began in 2007, and secures a key component of Admedus’ infusion supply chain.

Under the terms of the extended agreement, Admedus remains the exclusive distributor of Summit’s ambIT® infusion products in Australia and New Zealand until 2026.

The range of ambIT infusion pumps are suitable for the delivery of medications and pain relief.

 

Admedus head of infusion Glenn Gilchrist said: “Admedus has enjoyed a long and successful partnership with Summit Medical and we are delighted to renew this commitment for another eight years.

“Our team is proud to represent Summit’s range of innovative ambIT products that deliver better outcomes for patients and add significant value to our infusion portfolio.”

READ: Admedus has capital raising news imminent, granted ASX trading halt

The company’s shares are in trading halt since August 2, 2018, pending news of a capital raising.

Admedus expects the suspension to last until the earlier of the commencement of normal trading on August 13, 2018,  or the release of an announcement by the company.

READ: Admedus signs exclusive distribution agreement in Italy for its unique heart tissue product

Last month, the company signed an exclusive distribution agreement with Medical Instruments S.p.A. to market and distribute its clinically-superior ADAPT® technology in Italy.

Under the agreement, Medical Instruments will initially distribute Admedus’ non-toxic and non-calcifying flagship ADAPT bio-scaffold CardioCel®.

The bio-scaffold is used to repair congenital heart deformities and more complex heart defects. It is also used to reconstruct dysfunctional heart valves and valve leaflets.

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Thu, 09 Aug 2018 12:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202539/admedus-extends-successful-distribution-deal-for-medication-delivery-pumps-202539.html
<![CDATA[News - Admedus has capital raising news imminent, granted ASX trading halt ]]> https://www.proactiveinvestors.com.au/companies/news/202059/admedus-has-capital-raising-news-imminent-granted-asx-trading-halt-202059.html Admedus Ltd (ASX:AHZ) has been granted a trading halt by the ASX pending news of a capital raising.

The halt will remain in place until the start of trade on ASX on Monday, August 6, or earlier if an announcement is released to the market.

Shares last traded at 13.5 cents before the halt.

READ: Admedus commences animal trials for heart valve device

During July the company released news regarding progress with its patented transcatheter aortic valve replacement (TAVR) project and its ADAPT® technology.

Admedus has commenced animal trials by completing the first successful live implantation of its unique single-piece aortic heart valve, representing a key milestone in development of the TAVR project.

Five-month trial

The company has partnered with a European lab to examine the safety and feasibility of the unique valve in live sheep.

Implanting of the first single-piece valve officially marked the start of the trial period, which is expected to last for around five months.

READ: Admedus signs exclusive distribution agreement in Italy for its unique heart tissue product

Earlier in July, the company signed an exclusive distribution agreement with Medical Instruments S.p.A. to market and distribute its clinically-superior ADAPT® technology in Italy.

Under the agreement, Medical Instruments will initially distribute Admedus’ non-toxic and non-calcifying flagship ADAPT bio-scaffold CardioCel®.

The bio-scaffold is used to repair congenital heart deformities and more complex heart defects.

It is also used to reconstruct dysfunctional heart valves and valve leaflets.

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Thu, 02 Aug 2018 12:40:00 +1000 https://www.proactiveinvestors.com.au/companies/news/202059/admedus-has-capital-raising-news-imminent-granted-asx-trading-halt-202059.html
<![CDATA[News - Admedus commences animal trials for heart valve device ]]> https://www.proactiveinvestors.com.au/companies/news/200528/admedus-commences-animal-trials-for-heart-valve-device-200528.html Admedus Ltd (ASX:AHZ) has commenced animal trials by completing the first successful live implantation of its unique single-piece aortic heart valve.

This represents a key milestone in the development of its patented transcatheter aortic valve replacement (TAVR) project.

Admedus has partnered with a European lab to examine the safety and feasibility of the unique valve in live sheep.

The first single-piece valve was implanted today officially marking the start of the trial period, which is expected to last for around five months.

READ: Admedus board members stand with shareholders and buy shares

Admedus’s CEO Wayne Paterson said: “Today is a significant step for the TAVR project as we move into the next stage of development.

“It was exciting to observe the first-ever of our unique single-piece valves being placed inside a living heart.

“These experiments are being conducted by global leaders in the field and will provide critical insight for our development team as we accelerate towards product commercialisation.”

READ: Admedus signs exclusive distribution agreement in Italy for its unique heart tissue product

Momentum continues to build after recent lab testing of multiple valves were run out to 400 million cycles, which is roughly 10 years of human use.

Whilst the Admedus valves remained functional after 400 million cycles, the competitor valve showed significant fatigue at 250 million cycles.

Paterson added: “This device has the potential to be a game-changer for patients, the Company and the US$3.5 billion TAVR market.”

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Wed, 11 Jul 2018 11:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200528/admedus-commences-animal-trials-for-heart-valve-device-200528.html
<![CDATA[News - Admedus signs exclusive distribution agreement in Italy for its unique heart tissue product ]]> https://www.proactiveinvestors.com.au/companies/news/200318/admedus-signs-exclusive-distribution-agreement-in-italy-for-its-unique-heart-tissue-product-200318.html Admedus Ltd (ASX:AHZ) has signed an exclusive distribution agreement with Medical Instruments S.p.A. to market and distribute its clinically-superior ADAPT® technology in Italy.

Medical Instruments was founded in 1972 and specialises in the fields of cardiac surgery, vascular surgery, interventional radiology and haemodynamics.

Under the agreement, Medical Instruments will initially distribute Admedus’ non-toxic and non-calcifying flagship ADAPT® bio-scaffold CardioCel®.

The bio-scaffold is used to repair congenital heart deformities and more complex heart defects. It is also used to reconstruct dysfunctional heart valves and valve leaflets.

 

Admedus chief operating officer David St Denis said: “Admedus is delighted to partner with Medical Instruments to distribute our unique, world-leading technology to the patients and surgeons of Italy who have already shown keen interest and adoption of our ADAPT® products.

“According to the World Health Organisation, cardiovascular disease causes more than half of all deaths across Europe, causing 46 times the number of deaths and 11 times the disease burden caused by AIDS, tuberculosis and malaria combined in Europe.”

 

More than 17 million people die annually from cardiovascular disease, including heart attacks and strokes https://t.co/IMAiR8opsU #BeatNCDs pic.twitter.com/EaobWnUPWg

— World Health Organization (WHO) (@WHO) February 14, 2017

 

St Denis added: “This creates an enormous need, and opportunity, for the type of innovative health solutions and technology that Admedus is focused on delivering.

“Through our partnership with Medical Instruments, who have more than 40 years of demonstrated experience and success in the Italian medical device industry, we anticipate solid growth and development in this key market.”

READ: Admedus progressing towards securing $18 million investment for immunotherapies division

The company is also making progress towards securing a $18 million investment for its immunotherapies business to support ongoing research and development, as well as operational activities.

Admedus recently signed a Memorandum of Understanding (MOU) with Hong Kong investor Star Bright Holding Ltd who has already paid a non-refundable break-fee of $500,000 to finalise the terms of the investment.

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Mon, 09 Jul 2018 11:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200318/admedus-signs-exclusive-distribution-agreement-in-italy-for-its-unique-heart-tissue-product-200318.html
<![CDATA[News - Admedus board members stand with shareholders and buy shares ]]> https://www.proactiveinvestors.com.au/companies/news/199835/admedus-board-members-stand-with-shareholders-and-buy-shares-199835.html Admedus Ltd (ASX:AHZ) has issued $200,000 worth of shares to three of its board members as part of the recent capital raising priced at 30 cents.

The share issuance required shareholder approval which was received at the extraordinary general meeting held yesterday.

Furthermore, a former director of the board Matthew Ratty was issued $500,000 worth of shares.

READ: Admedus raises $2.76 million from share purchase plan

Chairman John Seaberg purchased $50,000.10 of shares, president and CEO Wayne Paterson purchased $50,000.10, and non-executive director Simon Buckingham purchased $99,999.90.

READ: Admedus progressing towards securing $18 million investment for immunotherapies division

Admedus recently made progress towards securing a long-term funding arrangement for Admedus Vaccines Pty Ltd with Hong Kong investor Star Bright Holding Ltd by executing a Memorandum of Understanding (MoU).

In April, Admedus Vaccines entered into a Letter of Intent with Star Bright who paid a non-refundable break-fee of $500,000 to finalise the terms of an investment of $18 million.

The $18 million investment will be retained in the immunotherapies business to support ongoing research and development, as well as operational activities.

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Fri, 29 Jun 2018 12:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199835/admedus-board-members-stand-with-shareholders-and-buy-shares-199835.html
<![CDATA[News - Admedus progressing towards securing $18 million investment for immunotherapies division ]]> https://www.proactiveinvestors.com.au/companies/news/199624/admedus-progressing-towards-securing-18-million-investment-for-immunotherapies-division-199624.html Admedus Ltd (ASX:AHZ) has made progress towards securing a long-term funding arrangement for Admedus Vaccines Pty Ltd with Hong Kong investor Star Bright Holding Ltd by executing a Memorandum of Understanding (MOU).

In April, Admedus Vaccines entered into a Letter of Intent with Star Bright who paid a non-refundable break-fee of $500,000 to finalise the terms of an investment of $18 million.

READ: Admedus enters into letter of intent to arrange alternative funding for immunotherapies division

The $18 million investment will be retained in the immunotherapies business to support ongoing research and development, as well as operational activities.

Admedus chairman Wayne Paterson said: “Today’s signing of the MOU is an important step in this process and we look forward to continuing negotiations with Star Bright who share our enthusiasm for the work of Professor Frazer and the Admedus Vaccines team.

“We are committed to securing a final agreement that will enable Admedus Vaccines to continue their ground-breaking research into vaccines and alternative treatment options for a variety of cancers and chronic diseases.”

READ: Admedus raises $2.76 million from share purchase plan

Key terms of the MOU with Star Bright include:

• A new company to be established with Admedus retaining a 29.1% shareholding in the new entity.

• Wayne Paterson to serve on the new company board as chairman for a minimum of five years.

• Professor Ian Frazer to provide principal researcher and chief scientific officer services to the company.

• Initial investment to focus on HSV-2 and HPV head and neck cancer vaccines in the first two years.

• An application for listing of the new company on the Hong Kong Stock Exchange to be planned, subject to regulatory requirements.

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Wed, 27 Jun 2018 11:19:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199624/admedus-progressing-towards-securing-18-million-investment-for-immunotherapies-division-199624.html
<![CDATA[News - Admedus to change supplier, aims to be more price competitive ]]> https://www.proactiveinvestors.com.au/companies/news/198413/admedus-to-change-supplier-aims-to-be-more-price-competitive-198413.html Admedus Ltd (ASX:AHZ) and supplier Go Medical Industries Pty Ltd have concluded their relationship.

Go Medical is a manufacturer of medical devices and accessories for the company’s Infusion business.

Admedus’s CEO Wayne Paterson said: “The company believes that this outcome is in the best interest of all stakeholders in the short, medium, and long-term.

READ: Admedus raises $2.76 million from share purchase plan

“While this may have a short-term impact on the timing of breakeven earnings, the company still aims to be profitable for 2019.

“We have a great team in place who consistently deliver above-target sales revenue and offer premium service to our valued customers.”

Adequate supply to meet near-term demand

Admedus is committed to working closely with existing customers and Go Medical as it transitions the business, and confirms it has adequate supply to meet demand during the 45-day completion period.

This change in the supplier arrangement is expected to have a 5.7% impact on top-line revenue for the financial year.

It is important to note that this change relates only to the supply of smaller intravenous consumable medical products, and has no impact on Admedus’ distribution of infusion pumps to major hospitals.

Admedus making changes to be more competitive

Under the leadership of its new business unit head, Glenn Gilchrist, Admedus has been refreshing its long-term strategic plan for the Infusion business.

This includes assessing its capabilities, organisational footprint, and product portfolio.

The review identified certain products and pricing within the portfolio which needed to be more competitive.

Admedus engaged Go Medical on these topics, seeking a mutually beneficial outcome, but unfortunately were unable to reach agreement.

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Thu, 07 Jun 2018 15:21:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198413/admedus-to-change-supplier-aims-to-be-more-price-competitive-198413.html
<![CDATA[News - Admedus raises $2.76 million from share purchase plan ]]> https://www.proactiveinvestors.com.au/companies/news/198147/admedus-raises-276-million-from-share-purchase-plan-198147.html Admedus Ltd (ASX:AHZ) shareholders have subscribed for 9.2 million shares priced at 30 cents raising $2.76 million in funding under a share purchase plan (SPP).

The SPP follows a placement also priced at 30 cents in early-mid May which raised about $6 million.

SPP funds will help to facilitate further expansion and acceleration of its new product pipeline, including TAVR and the unique 3D shaped tissue portfolio.

READ: Admedus secures $6 million to expand medical technologies strategy

Transcatheter aortic valve replacement (TAVR) is where a valve is placed into the heart via a catheter (usually inserted through the leg) to replace the aortic valve, eliminating the need for open-heart surgery.

Admedus’ new TAVR device is designed to reduce the risks associated with the insertion and placement of the valve.

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Mon, 04 Jun 2018 14:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198147/admedus-raises-276-million-from-share-purchase-plan-198147.html
<![CDATA[News - Admedus appoints Catherine Costello as interim executive director ]]> https://www.proactiveinvestors.com.au/companies/news/197506/admedus-appoints-catherine-costello-as-interim-executive-director-197506.html Admedus Ltd (ASX:AHZ) has appointed Catherine Costello to the board as interim executive director.

Costello also holds the dual positions of company secretary and chief financial officer.

Her appointment as executive director follows the resignation of Mathew Ratty and fulfils the requirement to have two resident Australian directors.

Admedus has commenced the search for another permanent Australian resident director to replace Ratty.

READ: Admedus files three new patents in the US for heart valve device

The company has filed three new provisional patent applications in the US as part of its transcatheter aortic valve replacement (TAVR) research and development project.

TAVR is where a valve is placed into the heart via a catheter (usually inserted through the leg) to replace the aortic valve, eliminating the need for open-heart surgery.

Admedus’ new TAVR device is designed to reduce the risks associated with the insertion and placement of the valve.

READ: Admedus progressing to animal trials of its unique heart valve device ]]>
Wed, 23 May 2018 15:56:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197506/admedus-appoints-catherine-costello-as-interim-executive-director-197506.html
<![CDATA[News - Admedus files three new patents in the US for heart valve device ]]> https://www.proactiveinvestors.com.au/companies/news/197496/admedus-files-three-new-patents-in-the-us-for-heart-valve-device-197496.html Admedus Ltd (ASX:AHZ)  has filed three new provisional patent applications in the US as part of its transcatheter aortic valve replacement (TAVR) research and development project.

TAVR is where a valve is placed into the heart via a catheter (usually inserted through the leg) to replace the aortic valve, eliminating the need for open-heart surgery.

Admedus’ new TAVR device is designed to reduce the risks associated with the insertion and placement of the valve.

READ: Admedus secures $6 million to expand medical technologies strategy

Underpinned by its clinically-superior ADAPT® tissue technology, Admedus’ TAVR aims to set a new benchmark in cardiovascular science and engineering.

The device will be looking to make an impact in the $3.5 billion market which is predicted to reach $5 billion by 2020.

The patent lodgements follow on from Admedus recently entering into an agreement with a renowned European reference laboratory to commence the first TAVR animal trials in July.

READ: Admedus progressing to animal trials of its unique heart valve device

Admedus’s CEO Wayne Paterson said: “As I’ve said previously, with this project Admedus wants to set a new global standard in innovation and patient care, built on the absolute cutting-edge of medical science and engineering.”

“With the design of each component, we are addressing vast areas of unmet need in durability, position and placement, cost-efficiency and improved patient outcomes - literally developing novel IP from one tip of the TAVR device to other.

“This is what makes the filing of these patent applications so critically important, we need to protect our significant investment and IP as competitors become increasingly aware of, and interested in, our progress.

“We’re creating something special here, and the competition knows it.”

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Wed, 23 May 2018 11:08:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197496/admedus-files-three-new-patents-in-the-us-for-heart-valve-device-197496.html
<![CDATA[News - Admedus progressing to animal trials of its unique heart valve device ]]> https://www.proactiveinvestors.com.au/companies/news/197410/admedus-progressing-to-animal-trials-of-its-unique-heart-valve-device-197410.html Admedus Ltd (ASX:AHZ) is entering the next stage in the development of its Transcatheter Aortic Valve Replacement (TAVR) project by signing an agreement to commence animal trials in a leading European laboratory.

Beginning in July, the experimental study will use sheep to examine the safety and feasibility of Admedus’ unique 3D single-piece moulded valve.

After an initial trial period of about three months, the study will extend to larger animals (calves) for testing the valves in a TAVR setting.

The experiments are expected to be completed by early 2019.

READ: Admedus signs deal to market its heart tissue products in Spain and Portugal

The TAVR device offers benefits to patients and physicians through novel engineering and leveraging the unique capabilities of the company’s clinically-superior ADAPT® tissue.

Admedus chief executive officer Wayne Paterson said: “Admedus’ development portfolio continues to gain momentum as we push into new product areas and expand on the application of our clinically-superior ADAPT® technology.

“Our unique ability to create shaped collagen tissue (3D) has opened the door to unprecedented levels of opportunity as we investigate potential new products and applications.

“The 3D valve recently passed a critical viability test, successfully completing more than 200 million simulated cycles which has allowed us to progress to animal trials.”

READ: Admedus secures $6 million to expand medical technologies strategy

The company recently raised about $6 million from institutional and sophisticated investors in a placement at 30 cents per share.

Funds raised will enable the company to expand and progress its strategic projects, including the acceleration of its 3D product portfolio from development to commercialisation.

Admedus is aiming to enter the global TAVR market, currently worth an estimated US$3 billion and projected to reach US$5 billion by 2020.

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Tue, 22 May 2018 11:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197410/admedus-progressing-to-animal-trials-of-its-unique-heart-valve-device-197410.html
<![CDATA[News - Admedus signs deal to market its heart tissue products in Spain and Portugal ]]> https://www.proactiveinvestors.com.au/companies/news/197148/admedus-signs-deal-to-market-its-heart-tissue-products-in-spain-and-portugal-197148.html Admedus Ltd (ASX:AHZ) has signed an exclusive distribution agreement with leading healthcare group, Cardiva, to market and supply its ADAPT® tissue products in Spain and Portugal.

Under the agreement, Cardiva will initially distribute Admedus’ flagship ADAPT® tissue product CardioCel®, a non-calcifying, non-toxic bio-scaffold used to treat congenital heart defect and disease.

Additional ADAPT® products, VascuCel® and CardioCel 3D®, will be added to the Cardiva distribution portfolio later in the year.

Cardiva is a leading company in the Spanish and Portuguese health system, providing physicians access to a wide range of innovative devices in the areas of interventional cardiology, cardiac surgery and pain management.

Admedus chief operating officer David St Denis said: “Through this partnership with Cardiva, Admedus is thrilled to offer our clinically superior ADAPT® products to patients in Spain and Portugal - one of the five largest markets in Europe.

“With first orders due this month, we anticipate demand in this region to grow steadily as more surgeons are introduced to the unique clinical and health benefits of our ADAPT® technology,”

READ: Admedus secures $6 million to expand medical technologies strategy

Earlier this month, Admedus secured commitments to raise about $6 million from institutional and sophisticated investors in a placement at 30 cents per share.

Funds raised will enable the company to expand and progress its strategic projects, including the acceleration of its product portfolio from development to commercialisation.

Admedus has already submitted multiple patent applications in the US as it targets entry into the lucrative TAVR (transcatheter aortic valve replacement) market, currently worth US$3.5 billion and expected to grow to US$5 billion by 2020.

READ: Admedus has healthy mix of reliable Infusion earnings and strong revenue growth from ADAPT

Admedus has also invited existing shareholders to participate in a share purchase plan (SPP).

This offers the opportunity for each shareholder to subscribe for up to $15,000 worth of new Admedus shares by Monday, 28 May 2018 at a price of 30 cents per share.

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Thu, 17 May 2018 11:13:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197148/admedus-signs-deal-to-market-its-heart-tissue-products-in-spain-and-portugal-197148.html
<![CDATA[Media files - Admedus using capital raised to advance product development and share price growth ]]> https://www.proactiveinvestors.com.au/companies/stocktube/9291/admedus-using-capital-raised-to-advance-product-development-and-share-price-growth-9291.html Tue, 15 May 2018 13:06:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/9291/admedus-using-capital-raised-to-advance-product-development-and-share-price-growth-9291.html <![CDATA[News - Admedus secures $6 million to expand medical technologies strategy ]]> https://www.proactiveinvestors.com.au/companies/news/196696/admedus-secures-6-million-to-expand-medical-technologies-strategy-196696.html Admedus Ltd (ASX:AHZ) has raised about $6 million after securing commitments from institutional and sophisticated investors in a placement at 30 cents per share.

The medical technologies company has also invited existing shareholders to participate in a share purchase plan (SPP).

This offers the opportunity to subscribe for up to $15,000 worth of new Admedus shares at an issue price of 30 cents per share.

READ: Admedus has healthy mix of reliable Infusion earnings and strong revenue growth from ADAPT

Funds raised will enable the company to expand and progress its strategic projects, including the acceleration of its 3D product portfolio from development to commercialisation.

CEO Wayne Paterson said: “The capital raising follows growing interest from sophisticated institutional investors who value Admedus as an exciting and credible investment opportunity recognising the potential of our unique product portfolio.”

Business transformation

Admedus has undergone a dramatic transformation and experienced unprecedented levels of growth during the past 18 months.

The company has delivered record sales and revenue growth across its ADAPT and infusion product lines, and has restructured key business units.

Entry into emerging markets

It has also secured entry into significant emerging markets and expanded product offerings with the introduction of the ground-breaking 3D shaped tissue franchise.

 

 

Paterson said: “Since the implementation of our new strategy, the company has worked diligently across all areas to improve efficiencies, reduce expenses and elevate the reputation and credibility of the business within the global medtech sector.”

Admedus recently submitted multiple IP applications in the US as it targets entry into the lucrative TAVR market, currently worth US$3.5 billion and expected to grow to US$5 billion by 2020.

READ: Admedus appoints medtech expert Michael Oswell as vice president, development

“We are only just beginning to explore the full potential of our unique shaped tissue technology with 16 potential new products in the pipeline, each one leveraging the benefits of our clinically-superior ADAPT technology,” Paterson said.

“Momentum continues to build across the business with recent announcements including the appointment of a new VP - Development, applications for additional product patents and the signing of a letter of intent to provide alternative funding for our immunotherapies division.”

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Thu, 10 May 2018 12:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196696/admedus-secures-6-million-to-expand-medical-technologies-strategy-196696.html
<![CDATA[News - Admedus enters trading halt ahead of capital raising ]]> https://www.proactiveinvestors.com.au/companies/news/196501/admedus-enters-trading-halt-ahead-of-capital-raising-196501.html Admedus Ltd (ASX:AHZ) has been granted a trading halt by the ASX pending the release of further details regarding a capital raising.

Shares in the company will remain halted until further information is released or the commencement of trading on Thursday, whichever occurs earlier.

READ: Admedus has healthy mix of reliable Infusion earnings and strong revenue growth from ADAPT

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Tue, 08 May 2018 11:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196501/admedus-enters-trading-halt-ahead-of-capital-raising-196501.html
<![CDATA[News - Admedus has healthy mix of reliable Infusion earnings and strong revenue growth from ADAPT ]]> https://www.proactiveinvestors.com.au/companies/news/196209/admedus-has-healthy-mix-of-reliable-infusion-earnings-and-strong-revenue-growth-from-adapt-196209.html Admedus Ltd (ASX:AHZ) is reaping the benefits of an impressive year in terms of execution as it delivers on several key initiatives and invests in long-term sustainability.

The medical technologies group laid the foundation for what has been an exciting six-month period in which the company has gained regulatory approvals and launched its flagship products into new markets.

In bringing the market up to date with the company’s progress, Admedus chief executive officer Wayne Paterson said: “During the quarter, our research team continued to identify and test new product concepts with our advisory board doctors and medical engineers.

“The company now has a clear development pathway for 16 3D shaped collagen surgical solutions, making it unique in this space.”

Significant price drivers in 2017

However, there were also some game-changing developments that occurred in 2017 that tend to be forgotten despite the fact that they will be strong revenue drivers in the future.

The following share price chart maps these developments and also shows how challenging it can be as a smaller emerging company operating in the medical technology space.

This is important in terms of projecting how the company is likely to trade in 2018 in light of the step change in consistency of newsflow.

The 40% share price spike in April/May was triggered by FDA approval of the company’s CardioCel 3D.

Admedus traded as high as 43.5 cents on the day of the announcement, but despite the fact that this will be an ongoing revenue driver, investors lost interest in the company until November.

Ironically, it was CardioCel that once again was at the centre of this rerating.

Entry into India triggers 80% share price spike

The company received regulatory approval to launch the product in the $158 million Indian healthcare market where there is a huge need for the technology.

This news triggered an 80% share price rerating, and as the chart indicates the retracement was much more moderate.

However, of even more interest is the way the company has traded in 2018 with the weight of news flow driving substantial, but importantly, sustained share price momentum.

It appears that the company isn’t as prone to lulls in newsflow as it has been in the past.

This suggests acknowledgement that the company is not a speculative play but an emerging global group with predictable earnings and a highly scalable model.

2018 shapes up as a watershed year

With numerous catalysts on the horizon and much of the groundwork completed in 2017, this could be a watershed year for the company.

If the large peaks and troughs of 2017 are now behind Admedus the company could undergo a sustained share price rerating in 2018.

It is worth noting that only last Friday the company’s shares closed at 38 cents almost matching the May 2017 close of 38.5 cents, suggesting a breakout could be imminent.

 

 

To management’s credit, it has focused on developing a business with world-class technologies while also making some structural changes to enhance profitability.

It is this ‘get the business right and the share price will take care of itself’ mentality that invariably separates the long-term success stories from the one-hit wonders.

The progress made in improving the business over the last three years is now becoming evident in its financial performance as indicated below.

Proven technologies provide stability and growth

Admedus’ ADAPT and Infusion divisions are its two key revenue drivers.

Each division has different products and end markets, and it is important to understand their individual revenue models.

The Infusion division is relatively straightforward, providing a reliable source of revenue with anticipated organic growth of 13% forecast for 2018.

This division is the exclusive distributor of high-quality surgical infusion pumps and medical products into major Australian and New Zealand health centres.

It has a major supply contract with the new Royal Adelaide Hospital for more than 2,500 AcroMed infusion pumps.

Infusion is a steady earner, generating about $1 million in revenue per month.

It is the ideal foil for the more capital intensive, but higher-growth ADAPT division.

CardioCel is just the start

ADAPT will be the growth engine over the coming years as its established products such as CardioCel are rolled out into new regions and traction is gained in existing markets.

One only has to reflect on the growth momentum that has been achieved in some of Admedus’ more established regions to appreciate the upside in new markets.

This will be further advanced by an agreement that was negotiated in March which took effect from April 1, 2018.

Admedus now has an agreement with a group purchasing organisation covering more than 1,500 hospitals in the US.

This provides the network with access to ADAPT® tissue products, CardioCel® and VascuCel®.

ADAPT revenues to outstrip Infusion

Furthermore, Admedus has only scratched the surface in terms of addressing the wide-ranging applications for the underlying technology.

It is worth noting that ADAPT revenues are forecast to surpass Infusion revenues during 2018, resulting in higher gross margins for the group.

To gain an appreciation of the growth opportunities, one needs to understand the product.

First to ADAPT to new technologies

Admedus’ proprietary ADAPT® technology was invented by its vice president Cardiovascular Science, Professor Leon Neethling.

ADAPT treated tissue has been scientifically proven to more closely mimic the characteristics of normal human tissue which promotes a more tolerant immune response and improved tissue ingrowth.

ADAPT products are sold globally under the product names CardioCel®, CardioCel Neo®, CardioCel 3D®, and VascuCel®.

Revenues driven by high demand heart repair market

Primarily used in restorative structural heart repair and reconstruction, ADAPT® biomaterial scaffolds offer superior resistance to calcification with more than nine years of clinical evidence showing no degradation or calcification.

Not only is this an outstanding achievement in isolation, but it represents proven clinical data that can be acknowledged when using the technology in developing other applications.

Management sees the potential of this technology as almost beyond measure, as it constantly looks to evolve its purpose and application.

All Admedus ADAPT® products are manufactured in, and distributed from, the company’s state-of-the-art biomanufacturing facility.

TAVR demonstrates ability to enter new markets

In October, Admedus submitted IP (intellectual property) applications relating to the development of a new Transcatheter Aortic Valve Replacement (TAVR) device.

The two separate pending patent applications in the US related to the development and manufacture of a three-dimensional replacement heart valve.

This involved the adoption of Admedus’ ADAPT technology that requires minimal suturing and a hydro-packaging system that revolutionises the way TAVR products are assembled and distributed.

It marked the beginning of Admedus’ entry into the $3 billion global TAVR market, which is projected to grow to $5 billion by 2020.

Alternative treatment for heart surgery

TAVR offers an alternative treatment option for patients who are unsuitable candidates for surgical heart valve replacement or repair.

Highlighting the ground-breaking nature of this development, Paterson said: “The benefits of our proprietary ADAPT technology and products are now scientifically proven beyond doubt.

“With published evidence of our durability, and clinically important remodelling and anti-calcification properties and more than nine years of data behind us, we are in a strong competitive position.”

This is reflected in the robust growth projections provided by management which importantly don’t take into account products requiring full registration such as TAVR.

Holistic product offering

While the TAVR breakthrough was crucial in its own right, the implications for Admedus are far-reaching, making them important to understand for potential long-term investors.

The combination of the 3D valve, hydro-packaging and ADAPT technology ensures the Admedus TAVR is far superior to any of its competitors.

Furthermore, it is less expensive to produce, more efficient to use and offers greater health benefits to patients.

Admedus will not only have unique IP around its valve, but also up and down the catheter making it a holistic product that offers high-value opportunities in the future.

The timing couldn’t be better as the company enters an era where the likes of CardioCel 3D as well as one-piece moulded valves will meet physicians and patient’s unmet needs.

Evolving engineering capabilities

In April, the company submitted several new provisional IP applications in the US for further development of the TAVR device.

These relate to three components that have been designed to complement the Admedus single piece moulded valve.

They will address issues in the areas of access site vascular injury, valve positioning and placement, and paravalvular leakage (PVL).

Paterson said: “These new innovations are beyond our tissue science and are based on feedback from the leading physicians who form our permanent TAVR Advisory board.

“Admedus’ TAVR project is an exciting opportunity to highlight our growing confidence and expertise as a credible and bankable medical technology company with evolving engineering capabilities, beyond our world-leading tissue engineering skills.”

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Wed, 02 May 2018 14:15:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196209/admedus-has-healthy-mix-of-reliable-infusion-earnings-and-strong-revenue-growth-from-adapt-196209.html
<![CDATA[News - Admedus appoints medtech expert Michael Oswell as vice president, development ]]> https://www.proactiveinvestors.com.au/companies/news/196098/admedus-appoints-medtech-expert-michael-oswell-as-vice-president-development-196098.html Admedus Ltd (ASX:AHZ) has appointed Michael Oswell to the newly created role of vice president, development.

Based in the U.S., Oswell will be responsible for accelerating the company’s product pipeline, including its portfolio of 3D surgical solutions and the Transcatheter Aortic Valve Replacement (TAVR) device project.

READ: Admedus takes significant step forward in developing unique heart valve device

Oswell brings extensive experience in the medical technology industry, including senior leadership roles with Guidant Corp. (Boston Scientific) and Medtronic Pty Ltd.

His most recent role was as senior program manager at Medtronic (cardiac rhythm and heart failure operations).

Progressing a range of new products in the development pipeline

Admedus chief executive officer Wayne Paterson said: “Michael has a strong track record as a results-driven leader in the medtech environment.

“He will be an excellent addition to the Admedus leadership team and his technical skill and experience will be an enormous advantage as we look to progress our range of new products in our development pipeline.

“His background in product development for some of the leading companies in the medtech industry will bring invaluable new perspective to our portfolio of development projects.”

Admedus recently submitted several new provisional patent applications in the U.S. for further development of its novel TAVR device.

TAVR is where a valve is placed into the heart via a catheter (usually inserted through the leg) to replace the aortic valve, eliminating the need for open-heart surgery.

READ: Admedus enters into letter of intent to arrange alternative funding for immunotherapies division ]]>
Tue, 01 May 2018 11:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196098/admedus-appoints-medtech-expert-michael-oswell-as-vice-president-development-196098.html
<![CDATA[News - Admedus enters into letter of intent to arrange alternative funding for immunotherapies division ]]> https://www.proactiveinvestors.com.au/companies/news/195910/admedus-enters-into-letter-of-intent-to-arrange-alternative-funding-for-immunotherapies-division-195910.html Admedus Ltd’s (ASX:AHZ) subsidiary Admedus Vaccines Pty Ltd has entered into a letter of intent (LOI) with Hong Kong-based investor Star Bright Holding Ltd as part of negotiations for an ongoing funding arrangement.

The LOI includes payment of a non-refundable break fee of $500,000 which secures a six-month exclusivity period.

This will enable finalisation of the terms of an agreement based on a minimum initial investment of $18 million for a 60% interest, with existing shareholders retaining 40%.

Alternative finance for research division

Admedus’ focus is on investing in and developing next-generation technologies with world-class partners.

In meeting this goal, the company acquires strategic assets to grow product and service offerings, and expand revenues from its existing medical sales and distribution business.

The funding agreement aims to provide Admedus Vaccines with alternative finance to continue its research into preventative treatments and vaccines for diseases and cancers.

READ: Admedus takes significant step forward in developing unique heart valve device

Chief executive officer Wayne Paterson said: “After a long period of negotiation, I am pleased that we are moving towards a new funding opportunity for Admedus Vaccines which would see it operate as a new entity with Admedus Limited maintaining an active stake.”

“The due diligence process has been completed, with the terms and construct of the deal to be negotiated over the next six months.

“We look forward to working through these negotiations and will update the market again upon signing a final agreement.”

Alternative funding for immunotherapies division

Once finalised, this agreement will also deliver on management’s earlier commitment to secure an alternative funding source for the immunotherapies division.

This arm of the company’s operations requires significant additional investment to fulfil its potential as the developer of ground-breaking vaccines.

Admedus Vaccines non-executive director Professor Ian Frazer said: “This arrangement will greatly enhance our resources and allow myself and the team to accelerate our projects as we delve further into the science that may ultimately lead to the development of ground-breaking vaccines.”

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Fri, 27 Apr 2018 10:44:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195910/admedus-enters-into-letter-of-intent-to-arrange-alternative-funding-for-immunotherapies-division-195910.html
<![CDATA[News - Admedus takes significant step forward in developing unique heart valve device ]]> https://www.proactiveinvestors.com.au/companies/news/195314/admedus-takes-significant-step-forward-in-developing-unique-heart-valve-device-195314.html Admedus Ltd (ASX:AHZ) has submitted several new provisional patent applications in the US for further development of its novel Transcatheter Aortic Valve Replacement (TAVR) device.

TAVR is where a valve is placed into the heart via a catheter (usually inserted through the leg) to replace the aortic valve, eliminating the need for open-heart surgery.

Admedus’ new TAVR device is designed to reduce the risks associated with the insertion and placement of the valve.

READ: Admedus heart valve device in development passes key milestone

The provisional patents relate to the engineering of key TAVR device components; two of which are designed to improve the fit, as well as valve placement and positioning.

The third component is designed to reduce the incidence of paravalvular leakage (PVL) which can lead to higher morbidity and poor health outcomes for patients.

Shares are up almost 10% to 34.5 cents.

Admedus’ specially engineered delivery system offers greater precision deployment and placement mechanisms which allow the surgeon to achieve a more optimal fit and reduce the risk of PVL.

US$5 billion market by 2020

TAVR is considered the best alternative treatment for patients unable to undergo surgical aortic valve replacement (SAVR).

The demand for TAVR devices is growing rapidly - current market value is estimated at US$3.5 billion and expected to increase to US$5 billion by 2020.

Building on the success of ADAPT® tissue technology

The company had previously submitted patent applications for a unique 3D moulded single-piece valve, using its novel ADAPT tissue technology.

The new components have been designed to complement the single-piece moulded valve, and to address significant unmet needs in the areas of valve placement and positioning.

Admedus chief executive Wayne Paterson said: “This is another significant step forward for Admedus as these patent applications take the company into new territory.

“The benefits of our clinically-superior ADAPT technology and tissue products are now scientifically proven beyond doubt with a decade of clinical data to demonstrate its superior resistance to calcification and toxicity.”

READ: Admedus enters agreement opening sales channel to 1,500 hospitals

Admedus recently entered a purchasing agreement allowing it to promote its flagship ADAPT tissue products, CardioCel® and VascuCel®, to more than 1,500 hospitals in the US.

CardioCel and VascuCel are used to treat heart defects and for heart valve, vessel and cardiovascular repairs.

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Thu, 19 Apr 2018 11:36:00 +1000 https://www.proactiveinvestors.com.au/companies/news/195314/admedus-takes-significant-step-forward-in-developing-unique-heart-valve-device-195314.html
<![CDATA[Media files - Admedus advances in North America with more products and markets on the horizon ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8904/admedus-advances-in-north-america-with-more-products-and-markets-on-the-horizon-8904.html Tue, 20 Mar 2018 12:11:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8904/admedus-advances-in-north-america-with-more-products-and-markets-on-the-horizon-8904.html <![CDATA[News - Admedus heart valve device in development passes key milestone ]]> https://www.proactiveinvestors.com.au/companies/news/192950/admedus-heart-valve-device-in-development-passes-key-milestone-192950.html Admedus Ltd (ASX:AHZ) has passed a key development milestone for its transcatheter aortic valve replacement (TAVR) device project.

TAVR is where a valve is placed into the heart via a catheter (usually inserted through the leg) to replace the aortic valve, eliminating the need for open-heart surgery.

The US$3.5 billion market is expected to grow to US$7.5 billion by 2024.

Admedus’s TAVR device has advantages over current products

Current TAVR products on the market contain three separate pieces of tissue held together by more than 100 sutures.

In comparison, the Admedus TAVR prototype device is a uni-body 3D moulded aortic valve design.

Durability benchmark of 200 million cycle tests completed

The TAVR device project passed a key developmental milestone by achieving the durability benchmark of 200 million cycle tests.

Wayne Paterson, CEO, said: “Passing the 200 million valve cycle test is a critical step in this pre-clinical stage of development as it confirms the valve meets the required standard of durability - fundamental to the overall viability and progression of the project.

“There’s still a lot of work to be done in the development and testing phases but successfully completing the cycle durability test gives us the green light to continue our investment in this strategically important initiative.

“If successful, the Admedus TAVR will reinvent the way these devices are used and manufactured.”

READ: Admedus enters agreement opening sales channel to 1,500 hospitals

Recently, Admedus entered a purchasing agreement allowing it to promote its flagship ADAPT® tissue products, CardioCel® and VascuCel®, to more than 1,500 hospitals.

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Mon, 12 Mar 2018 08:58:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192950/admedus-heart-valve-device-in-development-passes-key-milestone-192950.html
<![CDATA[News - Admedus enters agreement opening sales channel to 1,500 hospitals ]]> https://www.proactiveinvestors.com.au/companies/news/192889/admedus-enters-agreement-opening-sales-channel-to-1500-hospitals-192889.html Admedus Ltd (ASX:AHZ) has entered a purchasing agreement allowing it to promote its flagship ADAPT® tissue products, CardioCel® and VascuCel®, to more than 1,500 hospitals.

CardioCel and VascuCel are used to treat heart defects and for heart valve, vessel and cardiovascular repairs.

WATCH: Admedus Ltd moving up the value chain and preparing for 'pivotal' year

The purchasing agreement will last three years and takes effect from 1 April 2018.

Direct access to more than 1,500 hospitals

The purchasing agreement is with a major Group Purchasing Organisation (GPO) in the US.

It provides Admedus direct access to promote CardioCel and VascuCel to more than 1,500 hospitals who are members of the GPO’s purchasing network.

Notably, this network has an estimated purchasing power of $US35 billion.

Delivers on company’s strategy to expand market share

Wayne Paterson, CEO, said: “This agreement is a significant opportunity for Admedus and delivers on a commitment that was made at our AGM in November 2017 to expand our market share in the US through a partnership with a major compliant GPO.

“In our most recent financial report we signalled aggressive US growth targets for 2018 and this agreement strengthens our ability to achieve that.”

Admedus is one of only two parties awarded the agreement

Admedus is one of only two parties awarded a purchasing agreement to share the estimated $US5.2 million per annum spend.

This agreement demonstrates the quality of the ADAPT® line of products, which in turn highlights the future value they can generate for Admedus shareholders.

READ: Admedus secures regulatory approval in Canada for heart tissue products ]]>
Fri, 09 Mar 2018 10:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192889/admedus-enters-agreement-opening-sales-channel-to-1500-hospitals-192889.html
<![CDATA[News - Admedus secures regulatory approval in Canada for heart tissue products ]]> https://www.proactiveinvestors.com.au/companies/news/192723/admedus-secures-regulatory-approval-in-canada-for-heart-tissue-products-192723.html Admedus Ltd (ASX:AHZ) has received regulatory approval to introduce its CardioCel 3D® and VascuCel® products in Canada, alongside CardioCel® which is already available.

CardioCel 3D is a shaped tissue product representing a disruptive technology in the high-complexity congenital defect repair space.

WATCH: Admedus Ltd moving up the value chain and preparing for 'pivotal' year

Wayne Paterson, chief executive officer, said: “We welcome today’s announcement and are pleased to be able to expand our product offering in Canada, giving physicians and patients access to the numerous health benefits of our latest clinically-superior technology.

“This opportunity presents Admedus with a valuable opportunity to move up the value chain and increase our presence and market share in North America.”

Unique product mimics the characteristics of normal human tissue

CardioCel 3D offers patients the long-term health benefits of Admedus’ ADAPT® technology.

ADAPT treated tissue has been proven to more closely mimic the characteristics of normal human tissue which promotes a more tolerant immune response and improved tissue ingrowth.

CardioCel 3D’s pre-shaped curve provides physicians access to an optimised arch reconstruction solution with non-antigenic response and unique calcification resistance.

CardioCel 3D and VascuCel are already sold in the U.S.

CardioCel 3D is the latest product from Admedus’ proprietary ADAPT portfolio and was officially launched in the U.S. on 1 February 2018.

Canada is the second market to have access to this technology.

Admedus’ VascuCel scaffold is also bioengineered using the ADAPT technology and provides enhanced procedural efficiency for a broad spectrum of vascular surgical procedures.

READ: Admedus introduces heart tissue technology to India

The company recently introduced its ADAPT engineered tissue technology to India, a country with circa 50 million cardiac patients and 280,000 babies born annually with a congenital heart defect.

ADAPT achieved sales revenue of $2.1 million for the December 2017 quarter, up 18% on the previous quarter, largely driven by increased sales in the European and emerging markets regions.

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Wed, 07 Mar 2018 11:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192723/admedus-secures-regulatory-approval-in-canada-for-heart-tissue-products-192723.html
<![CDATA[News - Admedus appoints new company secretary and general counsel ]]> https://www.proactiveinvestors.com.au/companies/news/192228/admedus-appoints-new-company-secretary-and-general-counsel-192228.html Admedus Ltd (ASX:AHZ) has appointed Tanya Mangold as company secretary and general counsel.

She will be based in Brisbane and replaces Maja McGuire in the roles.

The new executive brings to the role circa 20 years of relevant experience, gained in South Africa and Australia.

This has included working with listed companies as a general counsel, company secretary and in top-tier private practice.

WATCH NOW: Admedus Ltd moving up the value chain and preparing for 'pivotal' year

Admedus, a medical technologies company, increased 10% mid-afternoon to $0.275.

Mangold has postgraduate taxation qualifications, was admitted as a solicitor in Australia in 2008, and is a member of the Queensland Law Society and Australian Institute of Company Directors.

Admedus delivers solutions that help healthcare professionals create life-changing outcomes for patients.

Next generation technologies

The company’s focus is on investing in and developing next-generation technologies with world-class partners as well as acquiring strategic assets to grow product and service offerings.

It also aims to expand revenues from its existing medical sales and distribution business. Admedus has assets from research and development through clinical development as well as sales, marketing and distribution.

READ: Admedus introduces heart tissue technology to India

The company recently introduced its ADAPT® engineered tissue technology to India, a country with circa 50 million cardiac patients and 280,000 babies born annually with a Congenital Heart Defect.

Physicians in India now have access to the benefits of the disruptive ADAPT technology and Admedus’ flagship product CardioCel® to provide life-changing outcomes for patients.

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Tue, 27 Feb 2018 15:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192228/admedus-appoints-new-company-secretary-and-general-counsel-192228.html
<![CDATA[News - Admedus introduces heart tissue technology to India ]]> https://www.proactiveinvestors.com.au/companies/news/190862/admedus-introduces-heart-tissue-technology-to-india-190862.html Admedus Ltd (ASX:AHZ) is introducing its ADAPT® engineered tissue technology to India, a country with circa 50 million cardiac patients and 280,000 babies born annually with a Congenital Heart Defect.

Physicians in India now have access to the benefits of the disruptive ADAPT technology and Admedus’ flagship product CardioCel® to provide life-changing outcomes for patients.

The Indian healthcare segment is worth $158 billion and is growing rapidly.

Products manufactured in Australia

Wayne Paterson, chief executive officer, said: “CardioCel has been available in North America and Europe for some time but this is the first time Indian physicians and patients have had access to Admedus’ world-class ADAPT technology.

“Our clinically superior ADAPT products have been invented and are manufactured in our state-of-the-art manufacturing facility in Australia.

“They are the only ones to have achieved nine years without calcification or degradation, providing Indian surgeons with a potential lifetime solution for their patients.”

Admedus closed at $0.265 on Tuesday, almost 33% higher than mid-November, supported by 26% growth in revenue to $6.3 million during the December quarter.

READ: Admedus receives approval to sell CardioCel in India

Regulatory approval to launch CardioCel, a bio-scaffold for the management of congenital and adult structural heart abnormalities, in India was granted in November 2017.

Primarily used in restorative structural heart repair and reconstruction, ADAPT treated tissue provides unparalleled resistance to calcification.

It delivers transformative repair with long-term durability that enables native cells to successfully grow and differentiate through the entire repair, without calcification or toxicity.

Indian commercial partner appointed

Admedus has appointed Syncronei Medical India Pvt Ltd as its exclusive commercial partner managing all sales, marketing and distribution.

Introduction of the technology to India is supported by the Australian Trade and Investment Commission (Austrade).

To support the launch, ADAPT inventor Professor Leon Neethling will deliver a series of meetings and presentations with physicians in major health centres across India.

This will demonstrate the product’s clinical applications and benefits.

Professor Neethling is also Admedus vice president of Cardiovascular Technologies.

Solid growth in revenue

Admedus achieved solid revenue growth in the December 2017 quarter and throughout the year.

ADAPT achieved sales revenue of $2.1 million for the quarter, up 18% on the previous quarter, largely driven by increased sales in the Europe and emerging markets regions.

Admedus also entered a secured debt facility of up to $10 million with Partners for Growth.

The end of 2017 concluded a cycle of change for Admedus as it finalised a corporate restructure, implemented improvement initiatives, reset strategic direction and continued to gain momentum in the path to profitability.

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Wed, 31 Jan 2018 09:20:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190862/admedus-introduces-heart-tissue-technology-to-india-190862.html
<![CDATA[Media files - Admedus Ltd moving up the value chain and preparing for 'pivotal' year ]]> https://www.proactiveinvestors.com.au/companies/stocktube/8683/admedus-ltd-moving-up-the-value-chain-and-preparing-for-pivotal-year-8683.html Tue, 30 Jan 2018 22:28:00 +1100 https://www.proactiveinvestors.com.au/companies/stocktube/8683/admedus-ltd-moving-up-the-value-chain-and-preparing-for-pivotal-year-8683.html <![CDATA[News - Admedus receives approval to sell CardioCel in India ]]> https://www.proactiveinvestors.com.au/companies/news/187668/admedus-receives-approval-to-sell-cardiocel-in-india-187668.html Admedus Ltd (ASX:AHZ) has received regulatory approval to launch the company’s flagship CardioCel® product in the Republic of India.

This approval allows for the immediate commercial sale of CardioCel in India, a healthcare market worth $158 billion and growing rapidly.

CardioCel is the company’s flagship product and is becoming a surgeon-preferred biomaterial for heart valve repair surgeries.

Admedus has appointed Syncronei Medical India Pvt Ltd as its exclusive commercial partner managing all sales, marketing and distribution.

Wayne Paterson, chief executive, said

“We are excited to partner with Syncronei Medical to offer Indian hospitals and surgeons our clinically superior ADAPT® technology with CardioCel.

“This is a clinically meaningful offering for them and a significant long-term opportunity for Admedus.”

A market with a need for CardioCel

India has circa 50 million cardiac patients.

Heart problems continue to be a challenge for the Indian healthcare system with 280,000 babies being born annually with a congenital heart defect.

The Indian market is a growth opportunity

The regulatory approval is a result positive pre-market research to determine the demand for CardioCel.

Results showed strong interest from Indian key opinion leaders who are eager to start using CardioCel as soon as possible.

Furthermore, pre-market assessment for VascuCel® and CardioCel 3D is now in the final stages.

During 2018, Admedus plans to move up the value chain with the entire platform of ADAPT products in the large Indian market.

An emerging healthcare company

Admedus has two key revenue streams which totalled $22.3 million in FY17.

These include ADAPT®, the company's clinically superior regenerative tissue technology.

Sales for the ADAPT® portfolio of products for the period climbed 30% to $6.9 million

The second is the company's infusion business in Australia and New Zealand, where revenue increased 74% to $15.5 million.

READ: Admedus secures debt funding to expand business ]]>
Thu, 23 Nov 2017 07:11:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187668/admedus-receives-approval-to-sell-cardiocel-in-india-187668.html
<![CDATA[News - Admedus secures debt funding to expand business ]]> https://www.proactiveinvestors.com.au/companies/news/186235/admedus-secures-debt-funding-to-expand-business-186235.html Admedus (ASX:AHZ) has entered into an agreement with Partners for Growth (PFG) for a secured debt facility of up to A$10 million to support continued expansion.

The facility consists of a $5 million revolving line of credit (RLOC) at an interest rate of 9.75% and a $5 million term loan at an interest rate of $11.75%.

Both the RLOC and term loan are repayable in 36 months and the company will fully draw the term loan facility.

Wayne Paterson, CEO, commented

“The outlook for Admedus has never been more confident than it is today; we are on track to ambitiously expand our business.

“PFG have a strong track record supporting high-growth Australian companies such as ours and we look forward to working with them as we take Admedus to the next level globally.

“Today’s agreement is consistent with our longstanding commitment to avoid raising capital in a way that would unduly dilute the position of our very patient and enormously supportive shareholders.”

Partners for Growth (PFG)

Based in the San Francisco Bay area, PFG is a partnership that provides capital funding debt solutions to private and public technology and life science companies.

PFG has been granted a first-ranking security for the loans on all of Admedus’s assets and most wholly-owned group companies.

Admedus gives certain covenants and warranties typical for a facility of this nature, including maintenance of certain financial ratios.

In conjunction with receiving the loan facility from PFG, Admedus has agreed to issue PFG a 7-year warrant for the issue of 4.9 million shares exercisable at $0.25.

READ NOW: Admedus submits patent application and enters trading halt ]]>
Thu, 26 Oct 2017 14:46:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186235/admedus-secures-debt-funding-to-expand-business-186235.html