LONDON: AOTI, INC., a leading medical technology group dedicated to improving the lives of people with chronic conditions, has successfully listed its common stock on the AIM market of the London Stock Exchange Group plc.
The company raised £19.5 million through the issuance of 14,772,918 newly issued Common Shares at a placing price of 132 pence per share. Additionally, existing shareholders raised £15.6 million by placing 11,818,336 Common Shares at the same price.
At the placing price, AOTI’s market capitalization upon admission will be approximately £140 million. Trading of the company’s shares under the ticker symbol “AOTI” and ISIN “US03690C1027” begins Tuesday.
AOTI dominates the nascent topical oxygen wound therapy segment, boasting an impressive 80% market share. Recent endorsements from clinical associations, including the American Diabetes Association, the Wound Healing Society, and the International Working Group on the Diabetic Foot, have underscored the value of topical oxygen therapy as an adjunct to standard care.
The IPO generated net proceeds of £13.5 million for AOTI. These funds will support the expansion of the company’s US sales team and facilitate entry into new territories, while also allowing for debt repayment.
Peel Hunt LLP serves as the Nominated Adviser and Broker to AOTI.
Dr. Mike Griffiths, Chief Executive Officer of AOTI, INC. commented: “We are delighted to be admitted to trading on AIM, which is in line with the Board’s strategy to further accelerate the Group’s commercial roll-out, enabling us to reach our full potential whilst fulfilling our mission of helping all people with chronic conditions get back to living their lives to the fullest.
The Board believes that AOTI has all of the building blocks in place to secure expanded market access and commercialisation of our TWO2 Therapy and to continue the staged roll-out of the NEXA NPWT System, the Company’s independently differentiated wound care platforms. On behalf of the Board, I would like to thank all our new investors who have joined the AOTI journey today and we look forward to updating them on delivering on our scale-up strategy, underpinned by a continued trajectory of profitable growth.”
AOTI, INC. was founded in 2006 and is based in Oceanside, California, US and Galway, Ireland, providing innovative solutions to resolve severe and chronic wounds worldwide. Its products reduce healthcare costs and improve the quality of life for patients with these debilitating conditions.
The Company’s patented non-invasive Topical Wound Oxygen (TWO2®) therapy has demonstrated in differentiating, robust, double-blinded randomised controlled trials (RCT) and real-world evidence (RWE) studies to more-durably reduce the recurrence of Diabetic Foot Ulcers (DFUs), resulting in an unprecedented 88 per cent reduction in hospitalisations and 71 per cent reduction in amputations over 12 months.
TWO2® therapy can be administered by the patient at home, improving access to care and enhancing treatment compliance. TWO2® therapy has received regulatory approvals from the US (FDA), Europe (CE Mark), UK (MHRA), Health Canada, the Chinese National Medical Products Administration, Australia (TGA) and in Saudi Arabia.
Leave a Reply