Artrya Limited (ASX: AYA) has locked in $15 million through a two-tranche placement at $0.73 per share, raising funds to accelerate regulatory approvals, commercial adoption, and clinical studies for its AI-powered coronary disease detection platform.
Why This Matters
The fresh capital injection will help Artrya push ahead with key regulatory applications for its Salix® Coronary Plaque (SCP) and Salix® Coronary Flow (SCF) products, ramp up commercial implementation, and launch the SAPPHIRE study—a flagship plaque study designed to boost credibility and drive adoption in US hospitals.
CEO Mathew Regan highlighted that FDA approval for Salix® Coronary Anatomy is expected by March 2025, marking a crucial milestone. The company is also focusing on expanding its regulatory approvals and delivering on its commercial agreement with Sonic Healthcare Australia Radiology.
Placement Details
- $15M raised at $0.73 per share (a 10.4% discount to the 5-day VWAP).
- Two tranches:
- Tranche 1: 6.8 million shares, settling 19 February 2025.
- Tranche 2: 13.7 million shares, subject to shareholder approval at a meeting on 2 April 2025, with settlement on 7 April 2025.
- Petra Capital acted as the sole lead manager and bookrunner.
What’s Next?
With this funding secured, Artrya is well-positioned to accelerate commercial adoption in the US market, bolster its AI-driven heart disease diagnostics, and strengthen its regulatory standing. If the FDA approvals roll in as expected, the next 12 months could be transformational for the company.
