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Admedus has capital raising news imminent, granted ASX trading halt

The halt will remain in place until the start of trade on August 6 or earlier if an announcement is released.
ASX sign
Admedus’ medical technologies are aimed at creating life-changing outcomes

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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