Listing
Biomedical engineering company Carmat has been admitted to the NYSE Euronext in Paris, raising the funds it needs for clinical trials of its fully implantable artificial heart in humans.
Paris-based Carmat was founded in 2008, to commercialise 15 years of research and between cardiovascular surgeon Alain Carpentier and aerospace engineering giant EADS.
To date the company has been financed by Carpentier, with backing from EADS, the venture capital firm Truffle Capital and France’s innovation agency OSEO.
The admission of was by the listing of 2,811,950 existing shares, 161,107 new shares resulting from the conversion of convertible bonds, the exercise of equity warrants and 827,002 new shares. The shares were proiced at €18.75 each, giving a market capitalisation of €71.3 million on admission.
Marcello Conviti, Chief Executive of Carmat, said, “We are delighted with the success of our share offering, which is one of the biggest on NYSE Alternext since the beginning of the year. Funds raised will enable us to test implants of a completely artificial heart in humans from 2011 onwards, aiming for a full-scale rollout in 2013.”
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