Carmat Rises Most in 4 Months as Heart Trial Approved

Carmat SAS (ALCAR) soared the most in four months in Paris trading after winning regulatory approval to test its artificial heart in four patients in France.

Carmat climbed 20 percent to 134.49 euros at 10:06 a.m. local time, giving the company a market value of 560 million euros ($756 million). The stock gained as much as 28 percent, the biggest intraday advance since May 14.

France’s National Medicine Security Agency authorized Carmat to implant the heart in four patients in three hospitals, the company, based in Velizy-Villacoublay, France, said in a statement late yesterday.

“Now we have passed this milestone, we will be able to fully focus on the success of the clinical phase in France and in other countries,” said Alain Carpentier, Carmat’s co-founder and scientific director.

Delays in winning approval to test the heart in France prompted the company to announce in May that it would begin trials in Belgium, Poland, Saudi Arabia and Slovenia. The implantable organ is designed to help patients with terminal heart failure who can’t get a human heart for a transplant.

To contact the reporter on this story: Phil Serafino in Paris at pserafino@bloomberg.net

To contact the editor responsible for this story: Heather Harris at hharris5@bloomberg.net

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