Affluent Medical signs agreements for mitral valve technologies with EUR 15M upfront payment

DJ Affluent Medical signs agreements for mitral valve technologies with EUR 15M upfront payment.

Affluent Medical 
Affluent Medical signs agreements for mitral valve technologies with EUR 15M upfront payment. 
12-Jul-2024 / 07:45 CET/CEST 
Dissemination of a French Regulatory News, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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PRESS RELEASE 
 
 
 
 
 
Affluent Medical signs agreements for mitral valve technologies with EUR 15M upfront payment 
 
Aix-en-Provence, July 12, 2024 - 7:45 am - Affluent Medical (ISIN: FR0013333077 - Ticker: AFME - "Affluent"), a French 
clinical-stage medical technology company specializing in the international development and industrialization of 
innovative medical devices, today announced that it has signed several agreements with Edwards Lifesciences ("Edwards") 
related to Affluent's structural heart products (adjustable mitral annulus KaliosT) and technologies (mitral valve 
technology). Under the terms of these agreements, Affluent will receive EUR 15 million upfront as a cash payment. The 
agreements are as follows: 
   -- An upfront payment of EUR 5 million for an exclusive option to acquire Kephalios, Affluent's wholly owned 
  subsidiary supporting the KaliosT innovative adjustable mitral ring, based on clinical outcomes from its study. The 
  operational activities for the development of KaliosT will continue to be managed exclusively by Affluent during 
  the life of the option. 
   -- An upfront payment of EUR 5 million for the global, non-exclusive license of Affluent's intellectual 
  property for the biomimetic cardiac mitral valve replacement technology, restricted to open-heart surgery. Affluent 
  is eligible to receive additional future royalties on all potentially commercialized products using the licensed 
  patents for the lifetime of these patents. Affluent retains full patent rights for transcatheter valves, including 
  its Epygon mitral valve currently in clinical development. 
   -- An upfront payment of EUR 5 million for an equity stake in Affluent. The subscription agreement will be 
  carried out via a capital increase with cancellation of shareholders' preferential subscription rights through an 
  offer reserved for categories of beneficiaries (the "Capital Increase"). The subscription price of EUR1.38 (including 
  EUR0.10 nominal value and EUR1.28 share premium) per new share represents a 15% discount to the volume-weighted average 
  price of the Company's shares over the last 20 trading days preceding July 11, 2024. Upon successful closing of the 
  transaction, Edwards will become a 9.21% shareholder in Affluent. FPCI Truffle Medeor and Ginko Invest will also 
  participate in the Capital Increase by setting off their shareholder loans, granted to Affluent in April 2024 (see 
  press release dated 25 April 2024). As a result of the Capital Increase, 6,190,831 new ordinary shares of the 
  Company will be issued, for a total cumulative amount, including issue premium, of EUR8,543,346.78. Following the 
  transaction, the share capital of Affluent Medical will be composed of 39,336,524 shares. Based on the Company's 
  share capital at the date of the Prospectus and on an undiluted basis, a shareholder owning 1% of the share capital 
  before the transaction would be diluted to 0.84% of the share capital after completion of the Capital Increase. The 
  Capital Increase will be subject to the filing and approval of a prospectus by the Autorité des marchés financiers 
  for technical reasons pursuant to Article 1, paragraph 5a, of Regulation (EU) No. 2017/1129. A separate press 
  release announcing the approval of the prospectus will be issued by Affluent. 
 
Sébastien Ladet, CEO of Affluent Medical, said "We are proud to sign these agreements with the global leader in 
structural heart innovation. We look forward to welcoming Edwards as a shareholder in our company. Edwards' strong 
global market presence and commercial infrastructure holds the potential for our product KaliosT to help doctors and 
their patients worldwide, while creating a strong partnership for KaliosT and surgical mitral valves using our 
technology. Affluent will continue to develop its transcatheter mitral valve Epygon and its urinary incontinence 
artificial sphincter Artus." 
KaliosT is the only mitral valve annuloplasty device that can be percutaneously - and in a minimally invasive manner - 
adjusted by a cardiologist (or surgeon) to treat residual and recurrent mitral insufficiency at any time after 
implantation, repeatedly and on a beating heart, thereby avoiding another open-heart surgery. 
Affluent Medical's mitral valve technology mimics the anatomy and physiology of a human valve, thereby potentially 
reducing the left ventricle workload and improving the heart hemodynamics, restoring the natural blood flow vortex in 
the left ventricle. It is expected to promote faster recovery of patients with a seriously impaired cardiac condition. 
 
About Affluent Medical 
Affluent Medical is a French MedTech company, founded by Truffle Capital, with the ambition to become a global leader 
in the treatment of structural heart diseases, one of the world's leading cause of mortality, and urinary incontinence, 
which currently affects one in four adults. 
Affluent Medical develops next-generation, minimally invasive, innovative, adjustable, and biomimetic implants to 
restore critical physiological functions. The product candidates developed by the Company are all currently in ongoing 
human clinical studies. 
Subject to raising the necessary funds to finance its strategy and to positive results from ongoing clinical studies, 
the Company's ambition is to gradually commercialize its products in 2026, directly or indirectly. 
For more information, visit www.affluentmedical.com 
 
 
Contacts: 
AFFLUENT MEDICAL       SEITOSEI.ACTIFIN 
               Financial communications / press relations 
Sébastien Ladet        Ghislaine GASPARETTO / Jennifer JULLIA 
Chief Executive Officer    [phone] / [phone] 
[e-mail] [e-mail] / [e-mail] 
               MC SERVICES AG 
PRIMATICE 
               Media relations Europe 
Media relations France 
Thomas Roborel de Climens   Caroline Bergmann / Kirsten RÜHL 
[phone] 
               [phone] / [phone] 
[e-mail] 
               [e-mail] 

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Regulatory filing PDF file File: 20240712_Affluent Medical_Agreements vFinal

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Language:    English 
Company:     Affluent Medical 
         320 avenue Archimède, Les pléiades III Bâtiment B 
         13100 Aix en Provence France 
         France 
Phone:      [phone] 
E-mail:     [e-mail] 
Internet:    https://www.affluentmedical.com/ 
ISIN:      FR0013333077 
Euronext Ticker: AFME 
AMF Category:  Inside information / Issuer activities (acquisitions, sales...) 
EQS News ID:   1944767 
 
End of Announcement EQS News Service 
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1944767 12-Jul-2024 CET/CEST

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July 12, 2024 01:45 ET (05:45 GMT)