Admedus Ltd (ASX:AHZ) is entering the next stage in the development of its Transcatheter Aortic Valve Replacement (TAVR) project by signing an agreement to commence animal trials in a leading European laboratory.
Beginning in July, the experimental study will use sheep to examine the safety and feasibility of Admedus’ unique 3D single-piece moulded valve.
After an initial trial period of about three months, the study will extend to larger animals (calves) for testing the valves in a TAVR setting.
The experiments are expected to be completed by early 2019.
The TAVR device offers benefits to patients and physicians through novel engineering and leveraging the unique capabilities of the company’s clinically-superior ADAPT® tissue.
Admedus chief executive officer Wayne Paterson said: “Admedus’ development portfolio continues to gain momentum as we push into new product areas and expand on the application of our clinically-superior ADAPT® technology.
“Our unique ability to create shaped collagen tissue (3D) has opened the door to unprecedented levels of opportunity as we investigate potential new products and applications.
“The 3D valve recently passed a critical viability test, successfully completing more than 200 million simulated cycles which has allowed us to progress to animal trials.”
The company recently raised about $6 million from institutional and sophisticated investors in a placement at 30 cents per share.
Funds raised will enable the company to expand and progress its strategic projects, including the acceleration of its 3D product portfolio from development to commercialisation.
Admedus is aiming to enter the global TAVR market, currently worth an estimated US$3 billion and projected to reach US$5 billion by 2020.