Curetis Group:
Ares Genetics Receives Funding Commitment For EUR 1.6 Mio. Project;
Curetis Announces Non-Audited Financial Results for 2017
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Curetis subsidiary Ares
Genetics receives funding commitment from Austrian Research
Promotion Agency (FFG) for EUR 1.6 million project "The Digital
Microbe"
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"The Digital Microbe" project
builds on GEAR platform to develop machine learning tools to combat
antibiotic resistances
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Curetis Group announces
preliminary, non-audited financial results for 2017
Amsterdam, the Netherlands, and
Holzgerlingen, Germany, February 05, 2018;
published at 13:00 EST -- Curetis N.V. (the "Company" and, together
with Curetis GmbH, "Curetis"), a developer of next-level molecular
diagnostic solutions, today announced that Ares Genetics GmbH
(Vienna, Austria), a wholly-owned subsidiary of Curetis, has
received notice from the Austrian Research Promotion Agency (FFG)
that it has been awarded a grant for a EUR 1.6 million research
project . Ares Genetics received the funding commitment for its
"The Digital Microbe" project, a substantial extension of its GEAR
(Genetic Antibiotic
Resistance & Susceptibility Database)
platform for the development of novel solutions for the
biopharmaceutical and diagnostics industry.
The project "The Digital Microbe" aims at
developing deep machine learning tools and advanced bioinformatics
algorithms for the modeling, diagnostics and prediction of
antibiotic resistances. The Company will use the algorithms for the
rapid development of novel commercial solutions to support medical
efforts in combatting antibiotic resistances. The solutions will
address molecular diagnostics in microbiology as well as inform and
accelerate the development of novel drugs to combat microbial
infections.
"Following the introduction of novel methods for
the molecular diagnostics of infectious diseases such as
next-generation sequencing (NGS), genomic information on microbes
and antibiotic resistances has become more and more important,"
said Dr. Andreas Posch, a Managing Director of Ares Genetics. "As
pathogens and resistances are constantly evolving, it is of utmost
importance to observe, analyze, monitor and anticipate these
developments. Therefore, we are delighted about the support from
the Austrian Research Promotion Agency in tackling antibiotic
resistance and developing novel bioinformatics tools. These tools
will improve the rapid diagnosis of antibiotic resistances in
patients and will speed up the development of novel
antimicrobials."
Dr. Achim Plum, also Managing Director of Ares
Genetics and Chief Business Officer of the Curetis Group, added:
"This non-dilutive grant from FFG allows us to advance the
strategic agenda of Ares Genetics faster and to develop
high-caliber offerings in particular for the pharmaceutical
industry, a customer segment which is an important element for a
sustainable business model of Ares Genetics."
Moreover, Curetis Group reported preliminary,
non-audited financials for its business year 2017. Revenues in 2017
were EUR 1.2 million (vs. EUR 1.3 million in 2016). EUR 0.7 million
thereof were generated by cartridge sales (vs. EUR 0.56 million in
2016) and EUR 0.5 million by system and services sales (vs. EUR
0.75 million in 2016).
Cash and cash equivalents as of December 31, 2017,
amounted to EUR 16.3 million excl. EUR 0.3 million for a VAT refund
receivable. Therefore, total year-end liquidity was EUR 16.6
million. This number includes a EUR 10 million tranche of a debt
financing facility provided by the European Investment Bank
(EIB).
The worldwide installed base of Unyvero Analyzers
as of December 31, 2017, was 175, slightly deviating from the
original guidance of 200 Unyvero Analyzers for 2017. The main
reason for this deviation is the shift of the expected FDA
clearance and the corresponding U.S. product launch to 2018.
"We expect a near-term clearance decision for our
Unyvero System and LRT Cartridge by the FDA," said Oliver Schacht,
CEO of Curetis N.V. "The U.S. product launch is fully prepared and
can be initiated immediately after clearance. We have built a team
of 17 marketing, sales and service professionals in the U.S. and
our warehouse in San Diego is stocked with systems and cartridges
in order to install the first products very rapidly."
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About Curetis and Ares
Genetics
Founded in 2007, Curetis is a molecular diagnostics company which
focuses on the development and commercialization of reliable, fast
and cost-effective products for diagnosing severe infectious
diseases. The diagnostic solutions of Curetis enable rapid
multi-parameter pathogen and antibiotic resistance marker detection
in only a few hours, a process that today can take up to days or
even weeks with other techniques.
To date, Curetis has raised EUR
44.3 million in an IPO on Euronext Amsterdam and Euronext Brussels
and private equity funds of over EUR 63.5 million. Furthermore,
Curetis has entered into a debt financing facility with EIB for up
to EUR 25 million. The company is based in Holzgerlingen near
Stuttgart, Germany. Curetis collaborates with Heraeus Medical,
pharmaceutical companies, and has entered into several
international distribution agreements covering many countries
across Europe, the Middle East and Asia.
In 2017, Curetis established Ares
Genetics GmbH, a wholly-owned subsidiary of Curetis GmbH in Vienna,
Austria. Ares Genetics is dedicated to maximize the R&D and
related scientific and business opportunities of the GEAR assets
acquired in 2016 for the entire Curetis Group.
For further information, please
visit www.curetis.com.
Legal Disclaimer
This document constitutes neither an offer to buy nor to subscribe
securities and neither this document nor any part of it should form
the basis of any investment decision in Curetis.
The information contained in this
press release has been carefully prepared. However, Curetis bears
and assumes no liability of whatever kind for the correctness and
completeness of the information provided herein. Curetis does not
assume an obligation of whatever kind to update or correct
information contained in this press release whether as a result of
new information, future events or for other reasons.
This press release includes
statements that are, or may be deemed to be, "forward-looking
statements". These forward-looking statements can be identified by
the use of forward-looking terminology, including the terms
"believes", "estimates", "anticipates", "expects", "intends",
"may", "will", or "should", and include statements Curetis makes
concerning the intended results of its strategy. By their nature,
forward-looking statements involve risks and uncertainties and
readers are cautioned that any such forward-looking statements are
not guarantees of future performance. Curetis' actual results may
differ materially from those predicted by the forward-looking
statements. Curetis undertakes no obligation to publicly update or
revise forward-looking statements, except as may be required by
law.
Contact Details
Curetis GmbH
Max-Eyth-Str. 42
71088 Holzgerlingen, Germany
Tel. +49 7031 49195-10
pr@curetis.com or ir@curetis.com
www.curetis.com
International Media &
Investor Inquiries
akampion
Dr. Ludger Wess / Ines-Regina Buth
Managing Partners
info@akampion.com
Tel. +49 40 88 16 59 64
Tel. +49 30 23 63 27 68
U.S. Media & Investor
Inquiries
The Ruth Group
Lee Roth
lroth@theruthgroup.com
Tel. +1 646 536 7012
20180205_Curetis_PR_EN