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Admedus Comments On Successful 2013, Outlines Growth Path Ahead

Diversified healthcare company Admedus (ASX: AHZ) provided an update across the company following a successful 2013, with the company anticipating continued growth in 2014.

Lee Rodne, chief executive officer, commented: "Admedus had a very successful year in 2013 as we hit all of our major milestones and growth objectives for the company.

"We're looking forward to continuing this growth in 2014 as we build our global healthcare group and making a positive difference to patient lives."

Rodne added that Admedus remains in a strong financial position entering 2014.

R&D Tax Rebate

Admedus anticipates to receive approximately $691,072 back from its R&D tax rebate from the 2012 tax year. This furthers strengthens the company's financial position heading into 2014.

Admedus Sales

Admedus sales of our infusion medical devices continue to show growth over the previous year and the company expects CardioCel® to contribute to sales this financial year as it continues to launch CardioCel® at key centers in Europe - and will be participating at key medical conferences during the first half of 2014.

The company also continues to pursue its FDA approval for CardioCel® in the US, which is anticipated mid-2014 and extending CardioCel®'s applications in heart valve repairs and vessel reconstructions in 2014.

Phase I study

As an update on the Phase I HSV-2 study, all patients have completed dosing and all follow up blood samples have been taken. The full results are due around mid-2014 with interim results expected to be reported in the first quarter of 2014.

HPV Pre-clinical studies

The company, in collaboration with Professor Ian Frazer and the research team, are continuing the pre-clinical studies into the therapeutic vaccine against HPV infection and associated cancer.

In 2014 the company anticipates providing additional information on the progress of these ongoing studies.

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