SUNNYVALE, Calif .– (COMMERCIAL THREAD) – Australian investors’ strong appetite for healthcare stocks continues with the $ 110 million listing of cardiovascular medical device company EBR Systems at 11 a.m. AEDT on November 24 on the Australian Securities Exchange (ASX).

EBR Systems, based in Silicon Valley, is a pioneer in wireless stimulation technology. The Company’s WiSE ™ CRT System is the world’s first and only wireless cardiac pacing system inside the left ventricle for heart failure, and is approved for use in Europe.

The capital raised from next week’s listing will provide EBR Systems with the equity to complete its pivotal study, targeting U.S. Food & Drug Administration (FDA) submission for approval in 2023, followed by a rapid commercial launch at United States, Australia and other key markets.

Many heart failure patients require cardiac resynchronization therapy (CRT), which uses lead-based cardiac pacing devices to coordinate the beating of the left and right sides of the heart. WiSE provides a treatment option for patients unable to receive CRT from a traditional lead-based system or for those at high risk of an upgrade procedure. Without effective CRT, these patients suffer from a poor clinical prognosis, poor quality of life and reduced life expectancy.

“It’s wonderful to see such investor support for EBR’s initial public offering, ”said John McCutcheon, President and CEO of EBR Systems. “With Australia’s long tradition as a global innovator in cardiology technology, it is fitting that Australian investors provide the financial backing as we pioneer lead-free LV stimulation so that it can help improve performance. lives of heart failure patients in Australia and around the world.

In October, EBR successfully finalized a subscribed capital increase of AU $ 110 million, which was strongly supported by new and existing institutional shareholders. Existing Australian institutional investors, including Brandon Capital, MH Carnegie & Co, Hostplus, TelstraSuper and HESTA, contributed more than A $ 30 million to the funds raised under the offer.

“EBR’s WiSE wireless pacemaker technology is one of the most exciting cardiology technologies in development, and it is fantastic that more Australian investors can now support it, ”said Dr Chris Nave, Founding Partner from Brandon Capital, manager of the Medical Research Commercialization Fund (MRCF), Australia’s largest life sciences investment fund. “Early clinical data from RBE is very promising, and for heart failure patients who cannot receive traditional cardiac resynchronization therapy, it is life changing: the difference between living a normal life, as opposed to being constantly short of breath, often confined to home and unable to perform simple daily tasks.

“EBR’s highly experienced management team has achieved significant business success in medical devices and cardiology. This list is great news for Australian heart failure patients and investors. ”

EBR initially targets patients who cannot receive CRT from existing devices, or who are at high risk for conventional upgrades, representing an estimated addressable market of US $ 2.1 billion. The WiSE technology platform can potentially be leveraged and extended to other patient groups, expanding EBR market opportunities to US $ 7.1 billion.

Australia is a world leader in clinical cardiology research programs and the country has been a pioneer in the development of pacemaker technology, making it an integral part of the global EBR clinical program and a clear location for the EBR list. The company has already partnered with leading Australian doctors for clinical trials at institutions including Royal Adelaide, Monash Medical Center and Prince of Wales, with Australia’s first WiSE patient treated in February 2018.

In a world premiere last year, a team of world-renowned cardiologists from Monash Health used EBR’s WiSE system, in combination with an intracardiac pacemaker, to achieve the world’s first implantation of a heart rate system. Completely leadless pacemaker in a patient who had not previously had an implanted pacemaker. Following the success of the procedure, a clinical study in Australia and Europe is planned next year to expand the use of the WiSE CRT system, in combination with an intracardiac pacemaker, to achieve completely leadless CRT as the first preferred option. for heart failure. the patients.

Australian investors have shown a strong appetite for healthcare investments in recent years. Healthcare accounts for around 10 percent of the Australian stock market companies listed on ASX. ASX ranks third in the world for healthcare listings over the past five years, growing 200% in healthcare market capitalization since 2016.I

Biotech giant CSL is one of the top three ASX-listed companies. Cochlear and ResMed are other high performing global medical device companies listed on ASX.

The world’s first pacemaker was made in Sydney in 1929 and successfully used to resuscitate a newborn baby in 1929.I

EBR Systems WiSE Technology

EBR Systems’ CRT WiSE ™ System is the world’s only wireless endocardial (inside the heart) stimulation system used clinically to stimulate the left ventricle of the heart. This has long been a goal of cardiac pacing since internal pacing of the left ventricle is viewed as a potentially superior and more anatomically correct pacing location. WiSE technology enables cardiac stimulation of the left ventricle with a new heart implant that is about the size of a large grain of rice. The need for a pacing wire outside the heart’s left ventricle – and the associated problems – is potentially eliminated.

WiSE is an experimental device and is not currently available for sale in the United States.

About EBR systems

EBR Systems, based in Silicon Valley, is dedicated to the superior treatment of heart rhythm disease by providing physiologically more effective stimulation through wireless heart stimulation. The Company’s patented Wireless Endocardial Pacing (WiSE) technology was developed to eliminate the need for pacing leads, historically the primary source of complications and reliability issues in the management of heart rhythm disease. The company’s initial product is designed to eliminate the need for coronary sinus leads to stimulate the left ventricle in heart failure patients requiring CRT. Future products will address wireless endocardial stimulation for bradycardia and other non-cardiac indications. EBR Systems is backed by respected private investors including MH Carnegie & Co., Brandon Capital Partners, Split Rock Partners, Ascension Ventures and Emergent Medical Partners.

I ASX-listed healthcare sector deepens and strengthens

I https://www.heartlungcirc.org/article/S1443-9506(11)01188-7/pdf