Implanet confirms clinical benefits of Jazz implants after three years of patient follow-up
​Implanet released additional clinical data showing the good performance of the Jazz band implant in correcting large spine deformitiesinadolescents.Datawerepublishedinawhitepaper by French KOLs, giving Implanet additional arguments to convince more surgeons to adopt the company’s product, while expandingitsscopeofapplication.Implanet recently secured a € 6.9Mfollow-onfinancing.Theoperationreceivedastrongsupportfromseinstitutionalinvestorsdespitedifficultmarketconditions.The funds will supportthestrategicdeploymentinitiated by the company to accelerate sales of its spinal implants, which have experienced strong growth since the beginning of the year. According toourestimates,additionalfundswillprovide Implanet about 24 months of financial visibility. Our valuation of Implanet remains unchanged, but we adjusted our target price to €2.34/share, taking into account the newly issued shares and cash raised ubsequent to the follow-on offering.
Implanet is a medical technology company based in France. Co. is engaged in the manufacturing, marketing and commercial development of implants and medical devices used in orthopedic surgery. Co.'s products range covers knee surgery with a full range of total knee prosthesis and sport medicine implants. Co.'s flagship product, the JAZZ technology platform, provides immobilization and fusion of spinal segments in the reduction of large deformities as well as the treatment of aging population. JAZZ is an adjunct to fusion implant of cervical, thoracic and lumbar spine.
First French company dedicated to life sciences and healthcare company financing, Aurgalys assists private or listed companies during capital increase, provides equity research or valuation services, takes care of investor relations and assists the management for their strategy and business development. Listing Sponsor Alternext (NYSE Euronext). Conseil en Investissement Financier ORIAS - ACIFTE.
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