CARMAT SAS Secures Its Cash Position By Reaching Milestone n°5 Of Its Contract With Bpifrance, And Receives €5.3 Million

CARMAT (FR0010907956, ALCAR), the designer and developer of the world's most advanced total artificial heart project, aiming to provide a therapeutic alternative for people suffering from end-stage heart failure, announces that Bpifrance has today validated the Company's completion of milestone n°5 of the contract for industrial strategic innovation signed in 2009.

The completion of milestone n°5 was notably contingent upon the qualified production of implantable prostheses and the monitoring of technical and medical criteria associated with the first clinical implants.

In accordance with the terms of the contract, the Company has received €5,251,038 in repayable advances corresponding to the eligible expenses incurred in order to meet this milestone.

Marcello Conviti, Chief Executive Officer of CARMAT, comments: "I would particularly like to thank our clinical teams and our industrial teams for enabling us to reach this milestone."

He adds: "Each completed milestone of our contract with Bpifrance confirms the project's progress and brings us another step closer to our objective: to provide patients and their physicians with a credible alternative to transplantation thanks to the first self-regulated bioprosthetic heart."

About CARMAT: the world's most advanced total artificial heart project

A credible response to end-stage heart failure: CARMAT aims to eventually provide a response to a major public health issue associated with heart disease, the world's leading cause of death: chronic and acute heart failure. By pursuing the development of its total artificial heart, CARMAT intends to overcome the well-known shortfall in heart transplants for the tens of thousands of people suffering from irreversible end-stage heart failure, the most seriously affected of the 20 million patients with this progressive disease in Europe and the United States.

The result of combining two types of unique expertise: the medical expertise of Professor Carpentier, known throughout the world for inventing Carpentier-Edwards® heart valves, which are the most used in the world, and the technological expertise of Airbus Group, world aerospace leader.

Imitating the natural heart: given its size, the choice of structural materials and its innovative physiological functions, CARMAT's total artificial heart could, assuming the necessary clinical trials are successful, potentially benefit the lives of thousands of patients a year with no risk of rejection and with a good quality of life.

A project leader acknowledged at a European level: with the backing of the European Commission, CARMAT has been granted the largest subsidy ever given to an SME by Bpifrance; a total of €33 million.

Strongly committed, prestigious founders and shareholders: Airbus Group, Professor Alain Carpentier, the Centre Chirurgical Marie Lannelongue, Truffle Capital, a leading European venture capital firm, and the thousands of institutional and individual shareholders who have placed their trust in CARMAT.

For more information:

Marcello Conviti

Patrick Coulombier

Valérie Leroy
Director of Marketing
& Investor Relations

Tel.: +33 (0)1 39 45 64 50

Alize RP
Press Relations

Caroline Carmagnol
Tel.: +33 (0)1 44 54 36 66

Investor Relations &
Strategic Communications

Dusan Oresansky
Emmanuel Huynh

Tel.: +33 (0)1 44 71 94 94

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