[Funding alert] Artificial Heart Maker Carmat Raises $7.4 Mn Funding from Existing Shareholders

To provide a therapeutic option to patients with advanced biventricular heart failure, CARMAT, the creator and developer of the most sophisticated total artificial heart in the world, has completed a capital increase totaling 7 million euros, which was primarily subscribed by several of its long-time financial shareholders.

Carmat, whose shareholders include European aircraft manufacturer Airbus (AIR.PA), estimated that it will still need to secure additional financing of approximately 50 million euros ($52.6 million) to fund its operations and investments through the end of October 2024.

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Stéphane Piat, Managing Director of CARMAT, declares: “While the beginning of the sales dynamic of Aeson® is confirmed in recent weeks, I am very happy with the mark of confidence of three of our historic shareholders (Lohas, Santé Holdings and Therabel Invest) in our project. Their financial support will allow us to continue, over the coming months, the deployment of our strategic plan, and in particular to support the acceleration of our sales and our EFICAS clinical study in France.

We are also working very actively on other financing solutions and measures which, combined with strict financial discipline, should allow us to further extend our financial visibility.

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We are confident in the robustness and safety of our artificial heart, and in its strong potential, and determined to lead CARMAT on the path to commercial success and profitability, with the support of our teams, our shareholders and our partners. , for the benefit of patients with advanced biventricular heart failure.

About Carmat

The Aeson® artificial heart is designed, produced, and sold by the French MedTech company Carmat. With a well-known shortage of human grafts, the Company's goal is to make Aeson® the first heart transplant substitute and thereby offer a therapeutic option to those with end-stage biventricular heart failure.

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