Genomic Vision Doubles Its Installed Base of FiberVision® Platforms and Quadruples Its Sales of Products and Services in 2016
January 09 2017 - 12:33PM
Business Wire
- Full-year sales of products and
services up 346% to €1.2 million, driven by strong growth momentum
in both LSR and IVD markets in the second half of 2016
- Doubling of installed FiberVision®
platform base over the year
- Cash position of €6.9 million at year
end, complemented by a potential funding of up to €10 million in
the form of convertible notes with warrants
Company to Present Today at the
9th Annual Biotech Showcase in San
Francisco
Regulatory News:
Genomic Vision (Paris:GV) (Euronext: FR0011799907 – GV),
the DNA molecular combing specialist that develops diagnostic tests
and advanced DNA analysis platforms, today reports its revenue and
cash position1 at December 31st, 2016.
Revenue from sales for the 4th quarter and full
year 2016
FY 4th quarter In
thousands of euros – IFRS
2016 2015
2016
2015 Revenue from R&D Collaboration with Quest
Diagnostics 315 2,066 79 936 Sales of Products and
Services
1,240 278 829 36
of which Life Science Research (LSR) 874 164 544 15
of which in-vitro diagnostics (IVD) 366 114 285 21
Total Revenue from Sales 1,555 2,345
908 971
Over the fourth quarter of 2016, sales of products and services,
which accounted for 91% of the Company’s total revenue compared
with 4% in the fourth quarter of 2015, significantly increased to
€829 thousand. This performance reflects the ramping up of Genomic
Vision’s overall commercial activity, mainly driven by:
- sales of instruments and consumables
for the study of DNA replication;
- innovative solutions offering for
quality control and optimization of gene editing;
- installation of 3 FiberVision® combing
platforms in diagnostics and research centers over the last quarter
of the year.
1 Unaudited data
Over the full year 2016:
- number of installed platforms doubled
from 4 to 9;
- sales of products and services
increased by 346% to €1.2 million;
- total revenue from sales reached €1.6
million, down 34% due to the end of milestone payments from Quest
Diagnostics following the completion in 2015 of the joint
development programs.
Cash position at December 31st, 2016
At December 31st, 2016, Genomic Vision had cash and cash
equivalents of €6.9 million, versus €9.5 million at September 30th,
2016.
Additionally, Genomic Vision can rely on a flexible financing
line via the reserved issuance of convertible notes with warrants
(OCABSA) for a nominal value of €10 million, as approved by the
Shareholders’ Meeting on December 5th, 2016. A prospectus regarding
this financial instrument will be filed with the French financial
market authority (Autorité des marchés financiers - AMF) (see press
release from October 28th, 2016).
Aaron Bensimon, CEO of Genomic Vision, said: “In the
second half of 2016, we rolled out our strategy to target the life
sciences research market, which we believe constitutes an important
new commercial opportunity for Genomic Vision alongside our IVD
business. As a result of the substantial traction in the LSR
market, we succeeded in doubling our overall installed base. We are
confident that demand in this market segment will remain brisk,
while we continue the commercialization effort of our IVD
portfolio, accelerating our growth in 2017 and beyond.”
Upcoming financial events
- Presentation at the 9th Annual Biotech
Showcase in San Francisco (CA), on January 9th, 2017
- 2016 annual results, on April 27th,
20172 (after trading)
ABOUT GENOMIC VISION
Genomic Vision (Euronext: GV) leverages its proprietary DNA
molecular combing platform in the IVD and life sciences research
markets. DNA combing is an extremely powerful, yet easy-to-use tool
for the direct visualization of individual DNA molecules at a very
high resolution to uncover quantitative and qualitative genome
variations that are telltale signs of cancer and other severe
diseases. The Company’s IVD portfolio includes tests for breast and
colon cancer, and rare myopathies, such as facioscapulohumeral
dystrophy (FSHD), and spinal muscular atrophy (SMA). In the life
sciences research market, the Company deploys its FiberVision®
platform, supporting academia, and the pharma, biotech, and crop
sciences industries in their drug discovery and development
efforts. For further information, please visit
www.genomicvision.com
2 Tentative date
Member of CAC® Mid & Small and CAC®
All-Tradable indexes
FORWARD LOOKING STATEMENT
This press release contains certain forward-looking statements
concerning Genomic Vision and its business.
Such forward-looking statements are based on assumptions that
Genomic Vision considers to be reasonable. However, there can be no
assurance that such forward-looking statements will be verified,
which statements are subject to numerous risks, including the risks
set forth in the prospectus on which the French Financial Market
Authority (AMF) granted its visa n° 14-087 on March 19, 2014 and
the appendix C of the 2015 financial report and to the development
of economic conditions, financial markets and the markets in which
Genomic Vision operates. The forward-looking statements contained
in this press release are also subject to risks not yet known to
Genomic Vision or not currently considered material by Genomic
Vision. The occurrence of all or part of such risks could cause
actual results, financial conditions, performance or achievements
of Genomic Vision to be materially different from such
forward-looking statements.
This press release and the information contained herein do not
constitute and should not be construed as an offer or an invitation
to sell or subscribe, or the solicitation of any order or
invitation to purchase or subscribe for Genomic Vision shares in
any country. The distribution of this press release in certain
countries may be a breach of applicable laws. The persons in
possession of this press release must inquire about any local
restrictions and comply with these restrictions.
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version on businesswire.com: http://www.businesswire.com/news/home/20170109006112/en/
Genomic VisionAaron Bensimon, +33 1 49 08 07
50Co-founder, Chairman &
CEOinvestisseurs@genomicvision.comorCapricorn OneMedia &
IRHans Herklots, +41 79 598
7149Capricorn1@bluewin.chorNewCapInvestor Relations /
Strategic CommunicationsDušan Orešanský / Emmanuel Huynh, +33 1 44
71 94 92gv@newcap.euorLHAU.S. Investor RelationsAnne Marie
Fields, 212-838-3777afields@lhai.com
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