?Investment in Admedus highlights growing interest from US investors
? Raised funds to be used to progress existing therapeutic vaccine and regenerative medicine programs
? Placement bolsters Admedus’ financial position entering into 2016
Brisbane, Australia 22nd December 2015
Admedus Limited (ASX: AHZ) is pleased to announce that it has completed a private placement of ordinary shares to a dedicated US healthcare institutional investor to raise approximately US$5 Million at AU$0.66 per share. The Company will also issue one warrant, to purchase an additional share at an exercise price of AU$0.79, for each two shares issued. Maxim Group LLC acted as sole placement agent in the US for the transaction.
“The funds raised from this private placement of our shares provides a significant boost to the Company’s financial position as we enter the New Year and reflects growing interest in Admedus by US investors. 2015 has been a very positive year for Admedus as we’ve continued to show strong successes in our programs and we’re expecting to achieve a number of key milestones in 2016” said Company CEO, Mr Lee Rodne.
Funds raised from the placement will be used to support ongoing programs within the Company, which fall within the uses specified for issues made under Listing Rule 7.1A in the notice for the Company’s 2015 AGM. This includes the progression of the HPV immunotherapy program towards a clinical study in 2016 and continued expansion of the ADAPT® regenerative medicine product portfolio.
The Company, in conjunction with Professor Ian Frazer, is developing a therapeutic vaccine platform, with programs targeting HSV-2, HPV and HPV related cancers. The HSV-2 program is currently in a Phase II clinical study and the HPV program has shown exceptional results to date and Admedus anticipates that it will enter into a Phase Ib clinical study in HPV infected subjects in the coming year.
In 2015, the Company continued its successful global launch of CardioCel®. CardioCel is now used in over 135 centers globally for the repair and reconstruction of cardiovascular defects and disease in both children and adults. In addition, Admedus has recently initiated a post market clinical study with leading heart institutions to show improved patient outcomes in reconstructing aortic heart valves versus the need to use bioprosthetic valves that need to be replaced during the patient’s lifespan.
“Admedus has had another very productive year and is looking forward to reporting the achievement of a number of key milestones in both its immunotherapy programs and regenerative medicine portfolio during 2016.” said Mr Rodne.
The placement of shares has been completed within the Company’s placement capacity under listing rule 7.1 and the placement of warrants has been made within the Company’s placement capacity under listing rule 7.1.
As part of the transaction the Company also intends to issue an additional 760,000 shares plus 380,000 warrants (on similar terms) to further raise approximately $500,000. This placement includes subscribers voluntarily entering into a 90 day escrow period for all securities currently held and any further securities acquired during the escrow period. The Company will provide further details of this placement once it is complete.
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For more information, please contact:
Dr Julian Chick | Chief Operating Officer | Admedus Limited
Tel: +61 (0)8 9266 0100
Media:
Shevaun Cooper | PR Manager | Admedus Limited
Tel: +61 (0) 417 985 599 | Email: scooper@admedus.com
Media Europe
FTI Consulting
Simon Conway / Victoria Foster Mitchell
Tel: +44 (0) 20 3727 1000
admedus@fticonsulting.com
US Investor
Rx Communications Group, LLC
Melody A. Carey
+1 917 322 2571
mcarey@rxir.com
About Admedus Limited
Admedus (ASX: AHZ) is a specialist healthcare company. Our 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 our existing, profitable medical sales and distribution business. The company has assets from research & development through clinical development as well as sales, marketing and distribution. Admedus has commercialised its innovative tissue engineering technology for regenerative medicine in four continents. We also have a major interest in developing the next generation of vaccines with a Brisbane-based research group led by Professor Ian Frazer. The vaccine programmes target disease with significant global potential, such as Herpes and Human Papillomavirus. Further information on the company can be found on www.admedus.com
