Australian innovative structured heart disease listed company Anteris Technologies (ASX: AVR) officially announced today that it has launched its initial public offering (IPO) in the United States, planning to issue 14.8 million shares at a price of $6.78 per share to raise $100 million.

According to the proposed price, the market value of Anteris Technologies will reach $244 million (approximately RMB 1.77 billion). The funds raised will fully promote the research and development process of its innovative DurAVR transcatheter heart valve technology.

This product is the world's first integrated leaflet aortic valve using a single piece of biological tissue engineering, resulting in lower mechanical stress, optimal hemodynamics, and the ability to mimic the performance of healthy human aortic valves. The company calls it the TAVR that shapes the future and is highly regarded in the medical community.

The IPO plans to issue 14.8 million ordinary shares and grant underwriters the right to subscribe for an additional 2.22 million shares within 30 days. The company has submitted its listing application to NASDAQ Global Market, with the stock code AVR.

01. First of its kind, TAVR market challenger has arrived
DurAVR is a transcatheter heart valve used to treat aortic valve stenosis. As one of the first transcatheter aortic valve replacement products manufactured using a single piece of bioengineered tissue, its biomimetic design perfectly replicates the excellent performance of healthy human aortic valves.

DurAVR adopts Anteris' exclusive patented anti calcification tissue technology - Adapt Tissue, ADAPT technology can transform animal tissue into a structure very close to human native tissue. This organization is a patented bovine pericardium tissue that has been clinically proven to be calcium free for up to 10 years and has been distributed to over 55000 patients worldwide for use as heart and vascular patches. ADAPT ® The organization has good plasticity and can be shaped for use in DurAVR ® Heart valve.

What is even more remarkable is that the DurAVR heart valve is precisely delivered through the advanced ComASUR delivery system. The system relies on controllable deployment technology and precise placement capability, using balloon dilation delivery to ensure perfect alignment between the valve and the native leaflets of the heart, achieving ideal valve positioning results.
DurAVR can also be used for in valve surgery. In July 2023, Anteris announced that as part of the Canada Special Access Program (SAP), DurAVR ™ THV was first used for mid valve (ViV) surgery. For patients with life-threatening conditions, if their current bio artificial aortic valve fails due to calcification or structural deterioration and a new heart valve must be implanted in the failed valve, ViV surgery is required.

Dr. Anita Asgar, Co Director of the Structural Heart Disease Program at the Montreal Heart Research Institute (Montreal, Canada), has submitted a request to Health Canada to include DurAVR ™ THV is used for a patient with valve failure who requires optimal hemodynamic results and lower valve stent height, as traditional transcatheter valve replacement (ViV) poses a high risk for this patient. Dr. Asgar ultimately performed surgery on an 84 year old male patient, implanting DurAVR into the valve during the failed Surgical Aortic Valve Replacement (SAVR) procedure ™ THV.

The surgery was very successful. For such a complex patient, the hemodynamic performance of this valve is extremely excellent. The average pressure gradient of the patient decreased by 88%, which almost restored the patient to a normal physiological state. After valve implantation, the final pressure gradient was only 6 mmHg. These results are consistent with DurAVR ™ The results observed in the extensive study of Transcatheter Valve Replacement (ViV) for Transcatheter Heart Valve (THV) are consistent.

02. Transform the track from 50 million to a AUD 15 billion market
Anteris Technologies is an Australian listed company that originated from the merger of Allied Medical and BioMD. Allied Medical is a company that separated from mining company Fortescue Metals Group in 2005, specializing in the sale of medical equipment such as catheters. In July 2010, the company acquired 38.6% of Coridon's shares in Brisbane for AUD 3 million, thus entering the biotechnology field. In February 2011, Allied Medical agreed to a reverse merger with listed company BioMD, and the merged company Allied Healthcare Group was listed on the Australian Securities Exchange (ASX).

In September 2012, Allied raised AUD 10.4 million to launch CardioCel products in Europe. CardioCel ® It is a decellularized matrix tissue engineering bovine pericardium that utilizes ADAPT ® The cutting-edge regenerative tissue technology. In November 2013, Allied Healthcare was renamed Admedus. In October 2019, Admedus sold its CardioCel and VascuCel patch businesses to the American company LeMaitre Vascular.

In May 2020, Admedus was renamed Anteris Technologies. At this time, the company is still focused on applying the "ADAPT Tissue Treatment" tissue engineering technology.

However, when Wayne Paterson became the CEO and Managing Director of this groundbreaking company in June 2020, he quickly realized that the full value of this technology had not been unleashed.

Wayne said, "The ADAPT tissue therapy technology has 10 years of clinical evidence to prove that it can remove inflammatory triggers while making tissues highly resistant to calcification. However, when I joined Anteris, the company was only applying this technology to the field of surgical repair, which has a global value of only about 50 million Australian dollars.

Therefore, I have the opportunity to participate in ADAPT and create many new innovations based on it. This transformation has led to the development of transcatheter heart valves, which is the only anatomically correct 3D one-piece valve design, resulting in less mechanical stress and optimal hemodynamics. I see a huge unmet need and opportunity to provide new solutions for patients and doctors. This decision now enables Anteris to compete in the field of AUD 15 billion (approximately RMB 69.576 billion)

In 2023, the estimated global market size for Transcatheter Aortic Valve Replacement (TAVR) is expected to reach $6.3 billion, and is projected to continue growing at a compound annual growth rate of 7.2% from 2024 to 2030. Behind this growth trend, there are multiple factors driving it together: the increasing number of patients with aortic stenosis (AS), the growing preference for minimally invasive surgery among patients, and the continuous expansion of the global aging population. It is worth mentioning that according to data from the Journal of Cardiovascular Business, in 2021 alone, the United States successfully implanted 92000 TAVR valves, demonstrating the vibrant vitality of this market.

The growth rate in China is even more astonishing, with an average annual compound growth rate of over 20% in TAVR surgery volume over the past five years. However, under the influence of multiple factors, TAVR is still in the initial stage of enlightenment in the domestic market, with relatively low penetration rate, and urgently needs long-term careful cultivation and nurturing. With the increase in product volume, the domestic TAVR "three swordsmen" Qiming Medical, Peijia Medical, and Xintong Medical have achieved a narrowing of losses in 2023. It is worth looking forward to whether they will enter a turning point of profitability.

Source: http://qixieke.com/Font/index/detailPage.html?id=3289-19