Artrya Limited (ASX:AYA) Successfully Completes A$15 Million Placement
Successful A$15 Million Placement
Artrya Limited (ASX:AYA) announced it has secured A$15 million through a two-tranche placement at A$0.73 per share. The placement attracted binding commitments from professional and sophisticated investors, representing a 10.4% discount to the 5-day volume weighted average trading price.
Use of Proceeds
The placement proceeds will accelerate regulatory applications for Salix® Coronary Plaque (SCP) and Salix® Coronary Flow (SCF). Funds will also support customer implementation, clinical studies, research and development, regulatory costs, and working capital. Additionally, the company will commence the SAPPHIRE study to enhance clinical credibility and promote commercial adoption of the Salix® Software in new US hospital centres.
Executive Comments
CEO Mathew Regan stated, “The team is delighted to be raising capital at such an important inflection point in the Company’s history. Clearance from the US Food and Drug Administration (FDA) in relation to regulatory approval for the Salix® Coronary Anatomy product is expected in March 2025. The Company continues the regulatory pathway to expand FDA approvals this year with a portion of Placement proceeds applied to accelerate regulatory applications for our SCP & SCF products, along with customer implementation costs including the Sonic Healthcare Australia Radiology commercial agreement announced on 12 February 2025.
A portion of Placement proceeds will also be applied to commence the SAPPHIRE study, expected to expand the Salix® software to additional centres in the US, providing further credibility for commercial roll out whilst locking the centres into the Company’s software. We look forward to continuing to update the market with our ongoing progress.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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