An Eagan-based company developing a device to replace a heart’s aortic valve has raised about $24 million.
Anteris Technologies (Australian Securities Exchange Ltd: AVR) raised the post-IPO equity funding earlier this month, the company, which is incorporated in Australia, recently announced. The round was initiated Feb. 9.
The round was led by Perceptive Advisors and L1 Capital. Returning investors included Sio Capital and CEO Wayne Paterson. New York-based healthcare-focused fund Affinity Asset Advisors participated as a new investor, the announcement said.
The round is Anteris’ first U.S.-Australian joint fundraise, the company says.
The funds will be used for the development of DurAVR, the company’s three-dimensional, single-piece aortic valve replacement that can be used for the treatment of aortic stenosis, a type of heart valve disease that reduces or blocks blood flow to the body. It is based on a regenerative bio-scaffold platform technology called Adapt.
Funds will also go toward the company’s ongoing clinical trials for its device. The data compiled from such trials will be used to approach the U.S. Food and Drug Administration in the future to finalize the design of a pre-market authorization trial for U.S. approval of DurAVR, the company says.
Additional clinical milestones are expected throughout the year.
“With the lineup of clinical work that Anteris has to accomplish in 2023 I am incredibly pleased the Company has strong support from new and existing investors through today’s … raise, Paterson said in the announcement.
Anteris, formerly known as Admedus until it changed its name in 2020, was founded in 2006, according to LinkedIn. It has 29 full-time employees based in Minnesota, with one office in Eagan and two in Maple Grove.
