Affluent Medical, a French medtech player specialized in innovative, minimally invasive implants designed to restore key physiological functions for patients suffering from heart and vascular diseases, as well as urinary incontinence, today announces that it has signed up to EUR 12 million structured debt financing with Kreos Capital.

Henri Lefebvre, Chief Financial Officer of Affluent Medical, said:

“This financing with Kreos Capital is instrumental in reaching major clinical milestones for each of our medical devices in 2019. It will allow the Company to pursue its business development activities with a view to launching its first medical device by end of 2020.”

Daniele Zanotti, Chief Executive Officer of Affluent Medical, said:

“Having secured our financial path, we now have cleared the way to create significant value in the coming months. Clinical activities for each of our technologies will be executed as planned. The next 18 months will allow us to progress significantly and structure the company to become a key player in transcatheter technologies.”

This EUR 12 million financing comprises three tranches of EUR 4 million straight bonds, with the first tranche already paid. Second tranche to be drawn upon achievement of milestones, and third tranche to be agreed on mutual consent before October 31, 2019 subject to the financial needs of the Company.

The funds received by Affluent Medical will be allocated mainly to achieve :

- Recruitment of patients for OPTIMISE II pivotal trial of KALIOS, the first fully adjustable mitral valve repair device,
- First-in-Human implantation of EPYGON, the first transcatheter mitral valve aimed at restoring physiologic blood flow and safeguard the ventricle,
- Recruitment of patients for the pivotal trial of ARTUS, the first electronically activated sphincter to treat urinary incontinence,
- First-in-Human implantation of KARDIOZIS, the first endovascular prosthesis aimed at preventing endoleaks in abdominal aortic aneurysm.

About Kreos Capital

Kreos was founded 20 years ago with the single mission of pioneering unique financing solutions for high-growth companies across Europe and Israel. Since then, Kreos has committed more than €2 billion in over 500 portfolio company transactions, in a variety of industry sectors across 14 countries. Kreos understands the needs of high-growth companies and the unique challenges that they face. Kreos has worked with companies at all stages of development offering everything from operational runway extensions to acquisition financing. The common threads of the approach include operational flexibility, patience and commitment to creating value. The Kreos team has the experience to understand what companies across all stages require and is able to provide debt funding facilities that meet the real-world demands of growing businesses, equity sponsors and investors.

About Affluent Medical

Affluent Medical is a new French medtech player with the ambition to become a European leader in the treatment of heart and vascular diseases, which are the world’s leading cause of death, and of urinary incontinence, which today affects one in four adults. Affluent Medical is developing innovative, next-generation minimally invasive implants to restore key physiological functions in these areas. The company’s four major technologies are currently in preclinical and clinical phases, and a first medical device is expected to be launched by the end of 2020. For more information: www.affluentmedical.com