January 23rd 2023
Paris, January 23, 2023 – 5:45 pm CET
CARMAT (FR0010907956, ALCAR,), designer and developer of Aeson®, the world’s most advanced total artificial heart, aiming to provide a therapeutic alternative for people suffering from advanced biventricular heart failure, provides a business update, and communicates its financial targets for the first time.
Sales forecast of €10 to €13 million in 2023
CARMAT resumed commercial implants of its Aeson® artificial heart in November 2022. The Company continues to train additional hospitals very actively, and targets 30 operational centers in Europe by the end of 2023, primarily in Germany and Italy.
In France, Aeson® will be made available to patients via the EFICAS study, which was initiated last December, in 6 hospitals: Lille Regional University Hospital, Pitié Salpêtrière University Hospital and Georges Pompidou European Hospital in Paris, Rennes University Hospital, Strasbourg University Hospital and Lyon University Hospital (Hospices Civils de Lyon). The Company aims to complete the study in 2025.
The production ramp-up will be gradual and should allow more than 100 artificial hearts to be produced in 2023.
Based on this, the Company forecasts sales of €10 million to €13 million in 2023.
Break-even anticipated in 2027
Moreover, in order to support a strong demand for Aeson® in Europe, and its commercial launch in the United States, anticipated in 2026, CARMAT has planned an ambitious industrial plan which should enable the Company to achieve a manufacturing capacity of 500 prostheses in 2024 and 1,000 prostheses by 2027.
Based on this, the Company anticipates to be in position to achieve break even within 5 years, i.e. in 2027.
Stéphane Piat, Chief Executive Officer of CARMAT, commented: “The last few months have been full of valuable learnings and have allowed us to fine-tune our market access and our industrial strategies. Given the progress made in various areas (commercial, manufacturing, quality, clinical, etc.), we are now in a position – for the first time – to communicate financial targets, and in particular revenue guidance of 10 to 13 million euros for 2023. Strong interest in, and demand for Aeson® make us particularly confident about the development of our sales. Our entire team is more determined than ever to make Aeson® the new benchmark treatment in advanced biventricular heart failure, to successfully ramp up our production, and so embark on the journey to profitable growth”.