Dear Investor, I hope you are doing well today. We wanted to take the opportunity to share some exciting updates from Osprey Medical from the start of the year.This week we announced a total raise of A$12.7M from the exercise of options by option holders under the final exercise date of the entitlement offer and an underwriting agreement from the Statewide Superannuation Trust and the Hostplus Pooled Superannuation Trust. This brings the total raised through the exercise of options under the prospectus to A$14.5m.These proceeds will go towards funding the ongoing commercial growth of Osprey, including the following milestones in 2021:GE Healthcare, Osprey’s distributor in Europe, will launch the DyeVert in Italy, France, Spain, Germany, Canada and the UK in CY 2021.A cost-effective US sales expansion with the addition of more Independent Sales Agents (ISAs), adding coverage in up to 14 additional US States which are not currently covered by Osprey’s direct sales force. The combined coverage of ISAs and direct representatives is anticipated to cover 30 US states by July 2021.In the UK, the DyeVert System is under review for recommendation by National Institute for Health and Care Excellence (NICE) and a decision is expected in CY 2021.Following the grant of the CE Mark in August 2020, FDA clearance and US commercial launch of the DyeVert Power XT for use with automated power injectors is anticipated in CY 2021. It is expected that the DyeVert Power XT System will expand Osprey’s US market opportunity by 25%.You can check out some of the media coverage we received on this below.In early January, Osprey Medical had the chance to provide a company overview and commercial update at the H.C. Wainwright Virtual BioConnect Conference. Our presentation covered the highlights of investing in Osprey, our commercial approach, and our clear future growth strategy. Throughout 2020, we remained focused on driving shareholder value and you can read more about how we did that in the slides below.H.C. Wainwright Virtual BioConnect Conference slidesIt has been a busy start to the year here at Osprey Medical and we anticipate that will continue throughout 2021.
OSP Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
