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Last close As at 25/01/2023
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Carmat is developing a biocompatible, artificial heart to satisfy the lack of donor hearts available for terminal heart failure patients. Management is taking corrective actions with recent quality challenges.
The Aeson artificial heart is being developed as a permanent replacement or destination therapy for chronic biventricular heart failure or acute myocardial infarction patients who do not have access to a human donor heart.
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Carmat announced in November that it has resumed implantations of its Aeson physiologic heart replacement therapy in a commercial setting, and it expects to continue resuming implant sales in Europe at a gradual pace as it replenishes inventory. The company had implemented controls to improve Aeson quality and safety, in response to defects identified in two components that affected some of its prostheses and led to a voluntary suspension of Aeson implantations in Q421. Carmat recorded €2.3m in FY21 revenue from the sale of seven Aeson devices in Germany and Italy and three in the United States as part of an early feasibility study. After raising €40.5m in gross proceeds in April 2022, it reported a 30 June cash position of €47m, which provides a cash runway until March 2023.
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