Carmat, which is developing an artificial heart, has announced the registration of its Document de Base with the Autorité des marchés financiers (AMF), the French stock market authority (reference number I.10-037), on May 21, 2010, for its initial public offering on the Alternext market of NYSE-Euronext Paris.
The money raised in the IPO will advance the commercialisation of the company’s total artificial heart, which is intended to overcome the shortage of donor hearts for transplant, for tens of thousands of people suffering from heart failure.
The artificial heart draws on the medical expertise of Professor Alain Carpentier, known throughout the world for inventing Carpentier-Edwards heart valves, and the technological expertise of EADS, the aerospace company.
Carmat says the size, weight, choice of structural materials and its ability to mimic normal physiological functions, means its artificial heart could, assuming upcoming clinical trials are successful, save tens of thousands of patients’ lives a year without the risk of rejection.
The Carmat artificial heart has already been the subject of thousands of hours of simulations and wear-and-tear tests, giving it a lifespan of more than 5 years.
With the backing of the European Commission, Carmat has been granted the largest subsidy ever given to an SME by the French innovation agency, OSEO, receiving a total of €33 million.
The company also has backing from Truffle Capital, EADS and the Fondation Alain Carpentier.
The Document de Base is available from Carmat, Direction Administrative et financière, 36 avenue de l’Europe, CS 40533, 78941 Vélizy Villacoublay Cedex, France and on the websites of the Autorité des marchés financiers (http://www.amf-france.org) and of Carmet (http://www.carmatsas.com/investisseurs).