Successful A$15m Placement
| Stock | ARTRYA Ltd (AYA.ASX) |
|---|---|
| Release Time | 14 Feb 2025, 9:18 a.m. |
| Price Sensitive | Yes |
Artrya Raises A$15m in Placement
- Binding commitments received for A$15 million placement at A$0.73 per share
- Proceeds to accelerate regulatory applications, customer implementation, clinical studies, R&D, and a flagship plaque study
- Placement supports ongoing commercialisation of Artrya's patented AI platform for detecting coronary artery disease
Artrya Limited, an applied artificial intelligence healthcare company, has announced that it has received binding commitments for a A$15 million two-tranche placement at A$0.73 per share. The placement will support the acceleration of the ongoing commercialisation of the company's patented AI platform that detects key coronary artery disease imaging markers. The placement proceeds will be applied to accelerate regulatory applications for Salix® Coronary Plaque (SCP) and Salix® Coronary Flow (SCF), customer implementation, clinical studies, research & development, regulatory costs, and working capital. Additionally, the funds will be used to commence a flagship plaque study (SAPPHIRE) to support broad clinical credibility and accelerate commercial adoption of the Salix® Software in new US hospital centres. The company expects to receive clearance from the US Food and Drug Administration (FDA) for its Salix® Coronary Anatomy product in March 2025 and is continuing the regulatory pathway to expand FDA approvals this year. The placement will be completed in two tranches, with the first tranche of 6,798,498 shares to be issued under the company's existing placement capacity, and the second tranche of 13,749,448 shares subject to shareholder approval. The company will also issue 2,054,795 new options to the lead manager, Petra Capital, with an exercise price of A$1.095 and a 2-year expiry, subject to shareholder approval.
The placement proceeds will be used to accelerate the company's regulatory applications, customer implementation, clinical studies, research and development, and the commencement of a flagship plaque study to support the commercial adoption of its Salix® Software in new US hospital centres.