BRISBANE, Australia & MINNEAPOLIS--(BUSINESS WIRE)--Anteris Technologies Ltd, (Anteris or the Company) (ASX: AVR, OTC: ANTTY) reported today that it has established a sponsored Level 1 American Depository Receipt (ADR) program in the United States. The ADR program has been set up to improve U.S. investor access to Anteris ordinary shares.
The ADRs representing Anteris ordinary shares will trade on the over-the-counter (OTC) market. The ADR ticker symbol is ANTTY and Deutsche Bank has been appointed as the Depositary Bank for Anteris Technologies’ ADR program.
The Company’s ADR program does not involve the issuance of new ordinary shares or the raising of new capital. ADRs will be tradeable by licensed U.S. brokers in the ordinary course of trading on the OTC market.
ADRs are a financial instrument that allow U.S. investors to hold shares of a foreign company without the need for cross-border or cross-currency transactions. Each ADR issued by Deutsche Bank represents an interest in one Anteris ordinary share that has been deposited with Deutsche Bank. ADRs are denominated in U.S. dollars.
The program intends to simplify and streamline U.S. investors' access to investing in Anteris by eliminating the need to deal with foreign currencies or the complexities of trading on foreign stock exchanges.
Anteris CEO, Wayne Paterson, said:
“Establishing an ADR program through a partnership with Deutsche Bank will increase the Company's visibility and recognition among U.S. investors, analysts, and financial media. This exposure will raise awareness about the Company and our leading DurAVR™ technology with key stakeholders in the world's largest capital market. The program will broaden our shareholder base, increasing trading volumes and liquidity and attracting more institutional investors. The program will also further support our commercial strategy in delivering greater value to our shareholders.”
About Anteris Technologies Ltd (ASX: AVR)
Anteris Technologies Ltd (ASX: AVR) is a structural heart company committed to designing, developing, and commercializing innovative medical devices. Founded in Australia, with a significant presence in Minneapolis, USA, a MedTech hub, Anteris is science driven, with an experienced team of multidisciplinary professionals delivering transformative solutions to structural heart disease patients.
The Company’s lead product, DurAVR™ is a transcatheter heart valve (THV) for the treatment of aortic stenosis. DurAVR™ THV has been designed in partnership with the world’s leading interventional cardiologists and cardiac surgeons and is the first transcatheter aortic valve replacement (TAVR) to use a single piece of bioengineered tissue. This biomimetic valve is uniquely shaped to mimic the performance of a healthy, human aortic valve.
DurAVR™ THV is made using ADAPT® tissue, Anteris’ patented, anti-calcification tissue technology. ADAPT® tissue has been used clinically for over 10 years and distributed for use in over 50,000 patients worldwide.
The ComASUR™ Delivery System is designed to provide controlled deployment and accurate placement of the DurAVR™ THV with balloon-expandable delivery, allowing precise alignment with the heart’s native commissures to achieve desired valve positioning.
Anteris Technologies is set to revolutionise the structural heart market by delivering clinically superior solutions that meet significant unmet clinical needs.
Authorisation and Additional information
This announcement was authorised by the Board of Directors.