December 19th 2022
Obtention of a €2.5m grant and potential equity investments of €15m
Paris, December 19, 2022 – 5:45 pm CET
CARMAT (FR0010907956, ALCAR), the designer and developer of the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from end-stage biventricular heart failure, today announced that it has been selected by the European Council to join its acceleration program (EIC Accelerator), which awards the most innovative companies in Europe.
EIC Accelerator is a funding program for innovative companies that aims to support the creation of European unicorns by helping them bring disruptive innovations to market.
Following a highly selective and rigorous evaluation process, the Aeson® artificial heart has been recognized as a high-quality medical innovation aimed at providing a relevant solution to a public health issue with significant unmet needs.
As a result, CARMAT has been awarded the maximum possible funding amount under this program, i.e. a non-dilutive grant of €2.5 million, intended in particular to support the industrialization of Aeson®, and optional equity financing of €15 million from the European Innovation Council Fund (EIC Fund), notably intended to support the marketing of Aeson® in Europe. The terms and conditions of the optional equity financing will be specified later.
Stéphane Piat, Chief Executive Officer of CARMAT, said: “We are proud and grateful to have been awarded within this prestigious program. The EIC’s decision confirms the very high quality and strong potential of our innovation and gives us access to substantial funding to support our development. I would like to thank all the CARMAT teams involved in this challenging call for projects, which once again highlights the urgent need for an innovative solution to treat advanced biventricular heart failure.”
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About CARMAT
CARMAT is a French MedTech that designs, manufactures and markets the Aeson® artificial heart. The Company’s ambition is to make Aeson® the first alternative to a heart transplant, and thus provide a therapeutic solution to people suffering from end-stage biventricular heart failure, who are facing a well-known shortfall in available human grafts. The world’s first physiological artificial heart that is highly hemocompatible, pulsatile and self-regulated, Aeson® could save, every year, the lives of thousands of patients waiting for a heart transplant. The device offers patients quality of life and mobility thanks to its ergonomic and portable external power supply system that is continuously connected to the implanted prosthesis. Aeson® is commercially available as a bridge to transplant in the European Union and other countries that recognize CE marking. Aeson® is also currently being assessed within the framework of an Early Feasibility Study (EFS) in the United States. Founded in 2008, CARMAT is based in the Paris region, with its head offices located in Vélizy-Villacoublay and its production site in Bois-d’Arcy. The Company can rely on the talent and expertise of a multidisciplinary team of more than 200 highly specialized people. CARMAT is listed on the Euronext Growth market in Paris (Ticker: ALCAR / ISIN code: FR0010907956).
For more information, please go to www.carmatsa.com and follow us on LinkedIn.
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CARMAT Stéphane Piat Chief Executive Officer
Pascale d’Arbonneau Chief Financial Officer Tel.: +33 1 39 45 64 50
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Alize RP Press Relations
Caroline Carmagnol Tel.: +33 6 64 18 99 59 |
NewCap Financial Communication
Dusan Oresansky Quentin Massé Tel.: +33 1 44 71 94 92
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Name: CARMAT ISIN code: FR0010907956 Ticker: ALCAR |
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Disclaimer
This press release and the information contained herein do not constitute an offer to sell or subscribe to, or a solicitation of an offer to buy or subscribe to, shares in CARMAT (the “Company”) in any country. This press release may contain forward‐looking statements that relate to the Company’s objectives and prospects. Such forward‐looking statements are based solely on the current expectations and assumptions of the Company’s management and involve risk and uncertainties including, without limitation, the Company’s ability to successfully implement its strategy, the rate of development of CARMAT’s production and sales, the pace and results of ongoing and future clinical trials, new products or technological developments introduced by competitors, changes in regulations and risks associated with growth management. The Company’s objectives as mentioned in this press release may not be achieved for any of these reasons or due to other risks and uncertainties.
The significant and specific risks pertaining to the Company are those described in the Universal Registration Document (“Document d’Enregistrement Universel”) filed with the Autorité des Marchés Financiers (AMF, the French stock market authorities) under number D. 22-0332. Readers and investors’ attention is, however, drawn to the fact that other risks, unknown or not deemed to be significant or specific, may or could exist.
Aeson® is an active implantable medical device commercially available in the European Union and other countries that recognize CE marking. The Aeson® total artificial heart is intended to replace the ventricles of the native heart and is indicated as a bridge to transplant in patients suffering from end-stage biventricular heart failure (INTERMACS classes 1-4) who are not amenable to maximal medical therapy or a left ventricular assist device (LVAD) and are likely to undergo a heart transplant within 180 days of the device being implanted. The decision to implant and the surgical procedure must be carried out by healthcare professionals trained by the manufacturer. The documentation (clinician manual, patient manual and alarm booklet) should be read carefully to understand the characteristics of Aeson® and information necessary for patient selection and the proper use of Aeson® (contraindications, precautions, side effects). In the United States, Aeson® is currently exclusively available within the framework of an Early Feasibility Study authorized by the Food & Drug Administration (FDA).