CARMAT Obtains a €1.4 Million Grant as Part of the “Industrial Recovery Plan – Strategic Sectors” Call for Projects

Regulatory News:

CARMAT (Paris:ALCAR) (FR0010907956, ALCAR), the designer and developer of the world’s most advanced total artificial heart, aiming to fulfill an unmet medical need by providing a therapeutic alternative to people suffering from end-stage biventricular heart failure, today announces that is has obtained a €1.4 million grant as a winner of the Ministry for Industry’s “Industrial recovery plan – Strategic sectors” call for projects.

This non-dilutive financing will contribute to the “CAP 23” industrialization program that aims to size the production of the Aeson heart for its commercial phase, notably by:

• increasing CARMAT’s production capacity on its Bois-d’Arcy industrial site;
• digitalizing this site; and
• strengthening the Company’s network of industrial suppliers in France.

Stéphane Piat, Chief Executive Officer of CARMAT, says: “We are delighted that our industrial program has been selected by the jury within the framework of this call for projects. This funding, combined with the proceeds generated by our recent capital increase, will support the ramp-up of our production capacity in order to reach an output of hundreds of Aeson hearts a year by 2023. CARMAT will thus be in a position to meet the demand of hospitals across Europe while continuing its clinical trials on a broader scale, notably in the United States”.

●●●

About CARMAT: the world’s most advanced total artificial heart project

A credible response to end-stage heart failure: CARMAT aims to eventually provide a response to a major public health issue associated with heart disease, the world’s leading cause of death: chronic and acute heart failure. By pursuing the development of its total artificial heart, Aeson, composed of the implantable bioprosthesis and its portable external power supply system to which it is continuously connected, CARMAT intends to overcome the well-known shortfall in heart transplants for the tens of thousands of people suffering from irreversible end-stage heart failure, the most seriously affected of the 20 million patients with this progressive disease in Europe and the United States.

The result of combining two types of unique expertise: the medical expertise of Professor Carpentier, known throughout the world for inventing Carpentier-Edwards heart valves, which are the most used in the world, and the technological expertise of Airbus Group, world aerospace leader.

The first physiologic heart replacement therapy: given the use of highly biocompatible materials, its unique self-regulation system and its pulsatile nature, the CARMAT total artificial heart could, assuming a successful clinical development, potentially save the lives of thousands of patients each year with no risk of rejection and with an enhanced quality of life.