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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. Carmat anticipates potential break-even by FY27 and plans to expand its annual manufacturing capacity to 500 units by 2024 and 1,000 units by 2027.
Chief Medical Officer
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Carmat announced in November 2022 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 a voluntary suspension of Aeson implantations in Q421. Carmat recorded €2.3m in FY21 revenue and is guiding for €10–13m in FY23 sales. After raising €40.5m in gross proceeds in April 2022 and €31m in December 2022, the company expects its cash runway to fund operations until July 2023.
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