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Anteris Technologies (ASX:AVR) is set to relocate its headquarters to the United States, transitioning to Anteris Technologies Global Corp. (Holdco). This strategic move involves a re-domiciliation process where Holdco will become the new parent company, replacing Anteris.
As part of this transition, Holdco will pursue a primary listing on Nasdaq and a secondary listing of its CHESS Depositary Interests (CDIs) on the ASX. An IPO targeting primarily US investors is also planned, with the goal of completing both the re-domiciliation and IPO by the end of 2024.
Shareholders and option holders of Anteris will need to exchange their current holdings for equivalent securities in Holdco. The IPO proceeds are expected to support the ongoing development of the DurAVR transcatheter heart valve and its pivotal trial with the FDA.
The board of Anteris views this move as an opportunity to access a broader pool of US investors, enhance analyst coverage, and potentially explore acquisitions or partnerships. The re-domiciliation aligns with the company’s existing substantial operations in the US. Holdco aims to raise between US$75 million and US$100 million through the IPO, depending on market conditions and investor interest.
LTR Pharma Partners with Aptar to Advance Spontan
LTR Pharma (ASX:LTP) has announced a Co-Development Agreement with Aptar Pharma to advance its fast-acting, on-demand nasal spray treatment, Spontan, for erectile dysfunction (ED). This partnership leverages LTR’s development expertise and Aptar’s specialized knowledge in nasal spray technology.
Aptar, known for its leadership in drug delivery systems, will provide essential support, including regulatory and analytical services, to navigate the FDA’s expedited 505(b)(2) approval process for Spontan. The goal is to commercialize Spontan in the US and other major international markets.
LTR Pharma’s Chairman, Lee Rodne, highlighted that this partnership not only de-risks the FDA application process but also enhances LTR Pharma’s profile as a long-term partner with a global market innovator. This collaboration could also open doors for future products with alternative indications.
CSL Reports Robust Growth for FY24
CSL Limited (ASX:CSL), Australia’s largest healthcare company, has reported impressive results for the year ending June 30. The company achieved a net profit after tax (NPAT) of $2.64 billion, reflecting a 25% increase on a constant currency basis. Revenue reached $14.8 billion, up 11% at constant currency.
Growth was driven by CSL Behring, which saw a 14% rise in total revenue and a 20% increase in immunoglobulin sales. CSL Seqirus also contributed with a 4% revenue increase, largely attributed to the success of the FLUAD vaccine. CSL Vifor continued to grow despite new competition.
CSL's balance sheet remains robust, with net assets of $19.4 billion and a net debt to EBITDA ratio of 2.2 times. For FY25, CSL expects revenue growth of 5-7% and NPATA to fall between $3.2 billion and $3.3 billion.
