SCHAFFHAUSEN, CH / ACCESSWIRE / April 5, 2023 / Occlutech Holding AG Occlutech Holding AG ("Occlutech"), one of the world's leading providers of minimally invasive structural heart disease devices, receives subscription commitment subject to certain conditions, of bonds to an aggregated amount of EUR 40 million. Bonds amounting to EUR 20 million were issued as a first tranche on March 31, 2023, under a total frame of EUR 75 million. The Bonds mature on 31 December 2027.
The proceeds from the committed amount of EUR 40 million, will be partly used to finance the upcoming launch of the Atrial Septal Defect (ASD) Occluder in the US and continued growth in Occlutech's established markets. The ASD Occluder is expected to receive FDA approval in 2023 and Occlutech is currently preparing for commercialization together with its distribution partner B. Braun Interventional Systems Inc.
The proceeds from the bonds will also be used to finance the ongoing global FDA studies related to the Atrial Flow Regulator (AFR) device (FROST-HF) treating heart failure patients and the Patent Foramen Ovale (PFO) Occluder (OCCLUFLEX) for Stroke Prevention. Occlutech recently enrolled its first patient in the FROST-HF study which has the aim to improve the lives of more than 12 million people in the initial target group suffering from heart failure in the US and EU. The market potential is estimated to be worth several billion euros[1] and is steadily growing.
"I am delighted that we have seen such interest in our business plan for our products and studies, and that we have successfully secured a strong financing partner. With this funding we can confidently pursue our important studies and enter the large US market, as well as accelerate our high set growth ambitions," says Sabine Bois, CEO, Occlutech.
All the bonds are subscribed by funds advised by Ture Invest Partners AB.
Carnegie Investment Bank has acted financial advisor to Occlutech.
[1] Roland Berger Market Study
Sabine Bois
CEO
Email: [email protected]
About Occlutech
Occlutech is a leading specialist provider of minimally invasive structural heart implants, with a mission to improve the quality of life for people with heart conditions. The vision is to become a leading global specialist in cardiac implants, addressing congenital heart defects, stroke prevention and heart failure. Since 2003, the company has developed, manufactured, and commercialized occluders and interatrial shunt products. Occlutech has a broad and proven portfolio, based on proprietary technology, and over 200 patents with more than 155,000 products sold. The company markets and sells its products in around 85 countries. The company has around 290 employees and is a public limited liability company registered in Switzerland. For more information: www.occlutech.com.
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SOURCE: Occlutech Holding AG