Affluent Medical: share price rises following update on progress

(CercleFinance.com) - French medical technology company Affluent Medical gained ground on the Paris Bourse on Friday, after providing an update on its recent operational advances.


During their appearance on a Boursorama program, Michel Therin, Chairman of the Board of Directors, and Sébastien Ladet, Chief Executive Officer, talked in particular about the agreements recently signed with American company Edwards Lifesciences.

The two executives also presented the latest advances in ongoing clinical studies for three medical devices, including positive feedback from the US FDA concerning the Kalios adjustable mitral ring.

It should be noted that the health agency has not asked for any additional patients to be added to the ongoing clinical study, says Affluent.

Michel Therin and Sébastien Ladet also mentioned the validation of the innovative design of the Epygon valve through one of the agreements signed with Edwards Lifesciences, and the assessments of Epygon's hemodynamic advantage by the Mayo Clinic in the USA.

They also reported progress in the clinical trial, with an increase in the number of investigation centers in the Minerva study, with 11 centers now active and 5 awaiting validation.

Progress is also being made on the pilot clinical trial for the Artus device, the first remote-controlled mechanical urinary sphincter, with five patients currently implanted and encouraging initial performance results.

The company aims to finalize the implantation of 10 patients in the last quarter of 2024.

The company also shared that it had recently secured 1.1 million euros in non-dilutive funding, mainly in the form of grants, for the development of its Epygon transcatheter valve.

Finally, during the interview, it was recalled that the analysts covering Affluent Médical's share price had all revised upwards their target price, which now averages 4.04 euros, reflecting, according to its management, their confidence in the company's prospects.

Listed on the Paris Bourse, Affluent Medical's share price advanced by over 2% on Friday in the wake of these announcements.

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