Affluent Medical, a French clinical-stage medical technology company specializing in the international development and industrialization of implantable innovative medical devices, reported a net loss of €9.4 million in H1 2024, compared to a net loss of €8.0 million in the prior year period, citing several majors steps developing its three medical devices.
In it’s half year report, Affluent Medical said has taken several major steps in the development of its three medical devices. At the same time, and to meet its operational needs, the Company has secured several financings and signed a strategic partnership with the leader in this space, Edwards Lifesciences. At the end of January 2024, Affluent Medical announced the completion of a €3.5 million bridge financing from its main shareholders (Truffle Capital, LCEA, Ginko Invest, Denos and Hayk Holding), in the form of a capital increase with cancellation of preferential subscription rights of shareholders in favor of a category of beneficiaries. The transaction enables the Company to finance operations, in particular the costs related to regulatory support for interactions with the FDA for KaliosTM, the initiation of the pilot study for Artus and the continuation of the pilot study for Epygon.
The company has signed several strategic agreements in July 2024, with Edwards Lifesciences, a global leader in innovative solutions for cardiovascular diseases, which becomes a reference shareholder.
With the initial cash payment of €15 million received under these agreements, Affluent Medical’s financial runway was extended by more than one year to July 2025.