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Admedus using capital raised to advance product development and share price growth

Admedus Ltd (ASX:AHZ) chief executive Wayne Paterson updates Proactive Investors on product development, a major agreement, key executive appointments, and strategic financing decisions.

The global medical technologies company recently completed a $6 million capital raise. "On what is our strategy to move that share price; I realised that if we developed the portfolio, the share price would move much more quickly, and would certainly flush out any dilution impact of a small cap raise... I think [we're] probably going to bring forward the progress of the company by a couple of years," says Paterson.

Admedus has recently appointed key staff members with big pharma backgrounds. Paterson comments, "we've got very good assets, we've got a clear sense of strategy, we're growing the business dramatically, and we are now getting those folks; both in the field force [and in] key positions."

The drug development Immunotherapies Division has attracted a financing partner which will hold a majority stake moving forwards. Paterson explains that shareholders will "get to participate in the upside without putting any more money into that project, so it's a very good outcome."  

Meanwhile, development of the company’s flagship portfolio of 3D moulded surgical solutions continues. "If you imagine Admedus three years from now it will be the only company in the world, as far as I'm aware, that can make 3D surgical collagen solutions," says Paterson.

 
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Newswire
November 01 2018

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