good news

Brisbane, Australia, 12th December 2013
Admedus, formerly Allied Healthcare Group (ASX: AHZ) today announced that it has
signed a share purchase agreement to acquire an established manufacturing site from
Genzyme Australasia, a Sanofi Company, to facilitate scaled-up production of its lead
regenerative tissue product CardioCel® and to meet future growth in demand for this
breakthrough new treatment for the repair and reconstruction of congenital heart
defects. The transaction is expected to be completed as of the 31st
of December, 2013.
The site in Malaga Western Australia, built in 2009, will provide fully operational
infrastructure that will enable the company to service the expected global market for
CardioCel®. It will also provide additional facilities to support the development and
commercial manufacture of additional regenerative tissue products currently in the
Admedus pipeline that utilise its platform ADAPT® tissue engineering process.
“This established site is an important acquisition for us as it allows Admedus to
accelerate its manufacturing capabilities in anticipation of growing CardioCel® sales
over the next 12 months and beyond,” said Admedus CEO Mr Lee Rodne.
As part of the acquisition Admedus will retain the necessary staff to run the recently
completed multi-million dollar state of the art facility. The leased site is fully fitted
with the required clean room facilities and supporting infrastructure for Admedus to
manufacture CardioCel®. The purchase price of the manufacturing facility company is
nominal and includes all existing equipment at the site.
The acquisition will also provide access to highly skilled staff to support both
manufacturing requirements and new product development. The staff retained are
trained in operating clean room facilities as well as experienced in producing medical
products for human treatments.
“This acquisition represents an important step forward for Admedus as it gives us
immediate access to a fully functional facility, the necessary equipment and trained,
experienced staff. As a result this will accelerate our ability to increase the
manufacturing of CardioCel® as market demand grows” said Mr Rodne.
Admedus received CE mark for CardioCel® in August 2013 and anticipates approval of
CardioCel® in the US in 2014.