End Of Financial Year Update

ANNOUNCEMENT

ADMEDUS END OF FINANCIAL YEAR UPDATE
 CardioCel® now being used in 12 centres in Europe
 US centres ordering CardioCel® ahead of schedule
 Closing the financial year with strong cash balance
 Income of over $9m expected for the full financial year
Brisbane, Australia, 26th June 2014
Admedus (ASX: AHZ) today announced an update on activities across the Group. The
company highlighted that total income, including revenue grants and other income, for
the Group is expected to be over to $9M for this financial year, up from the previous
year, with a closing cash balance of over $20M. These results place the Company in a
strong position to progress towards our key milestones of growing revenue and
progressing our platform technologies in regenerative medicine and next generation
immunotherapies.
“The past 12 months have been extremely successful, with European and US marketing
clearance for our lead regenerative tissue product CardioCel® and the completion of the
HSV-2 vaccine Phase I study” said Admedus CEO Mr. Lee Rodne.
“The initial target is to get CardioCel® into 15 key centres in Europe and in the US and
as we scale up our manufacturing we will increase the number of new centres coming
on-stream and continue to grow our revenue.” Mr. Rodne said
The Company currently has 12 key centres in Europe using the product and has received
sales orders from US key centres earlier than scheduled.
“We’ve had a very encouraging initial launch period for CardioCel® and the key for us
during this early phase is centre penetration” said Mr. Rodne. “This will provide the base
to continue to grow revenue for the company as surgeons begin to experience the
benefits of using CardioCel® first hand for the repair and reconstruction of cardiovascular
defects in both children and adults” he added.
In addition, the Company is seeking marketing approvals for CardioCel® in other
jurisdictions and expansion of use for CardioCel®, not only for additional cardiovascular
applications, but also for other areas of surgical repair. The Company will make
additional updates on these planned programmes during the 2014/15 financial year.
CardioCel® continues to be used in Australia under the Authorised Prescriber Scheme
with over 200 patients successfully implanted to date.
At the beginning of 2014 Admedus acquired a state-of the art manufacturing site in
Western Australia to provide manufacturing capability for the global supply of
CardioCel® and it is anticipated that production of CardioCel® for the US market will
commence in July this year.