November 2nd 2020
Paris, November 2, 2020 – 7 am CET
CARMAT (FR0010907956, ALCAR), the designer and developer of the world’s most advanced total artificial heart, aiming to fulfill an unmet medical need by providing a therapeutic alternative to people suffering from end-stage biventricular heart failure, today announces that it has obtained, from a banking syndicate, a €10 million loan in the form of a State-Guaranteed Loan.
This loan is 90% guaranteed by the French State with an initial maturity of 12 months and an extension option enabling CARMAT to defer the reimbursement of the principal amount for an additional period of up to 5 years.
Stéphane Piat, Chief Executive Officer of CARMAT, says: “We would like to thank the French government and our partner banks for this non-dilutive financing that allows us to continue our activities with confidence. In an environment made uncertain by the COVID-19 crisis, this financial facility contributes to securing our cash position and extends our financial visibility through to the third quarter of 2021”.