A long way in a short time

just thought i would remind a few of a mention in The Australian 18 months ago...undeniable that AHZ has come a long way.....200 patients, a handful of centres using it....then throw in all the other developments since .....the vax will be nice bonus....patience will reward imo

Admedus set to profit from biotech patch

• THE AUSTRALIAN
• MAY 14, 2014 12:00AM

Tim Boreham

Criterion Columnist

Admedus (AHZ) 10.7c
IN a biotech field littered with regulatory glitches, the Andrew Forrest-backed Admedus stands as a beacon of hope, given its CardioCel cardiac repair patch has been approved in the US and Europe.
The tricky part now is to convince change-averse cardiothoracic surgeons to advocate the scaffold to their peers. The saving grace is that they hang around the same conferences, where the power of persuasion is magnified.
While CardioCel does the work of existing tissue-based patches, selling points are the lack of scarring and calcification.
In the case of pediatric conditions such as hole in the heart, the CardioCel grows with the heart and repeat procedures are not required.
“It’s there forever and as a result it takes time for the surgeons to get comfortable,’’ says chief operating officer Julian Chick.
Chick says 200 patients so far have been treated with CardioCel, notably under the auspices of surgeon Tom Karl at Brisbane’s Mater Hospital.
CardioCel is also being used in eight European centres and first US sales have also been procured.
Admedus this week completed an $8m insto placement raising at 10c a piece, plus a share purchase plan as a sop to retail holders. The funds will be used partly to ramp up the US and European sales teams.
Chick expects meaningful revenues within 12 to 18 months, with an addressable market of 500,000 cardiovascular procedures in the US alone. The patch costs about $1500.
In the meantime, Admedus pulls handy revenue — $7.5 million last year — from selling third-party products such as medical pumps.
In February, Criterion opined — correctly — that the much-loved Admedus (formerly Allied Health) was overcooked at 17.5c.
The share retraction gives rise to a heartfelt revision and a spec buy call