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Genomic Vision is a publicly-traded company on the Euronext regulated market in Paris

 

Press Releases

GENOMIC VISION DOUBLES ITS INSTALLED BASE OF FIBERVISION® PLATFORMS AND QUADRUPLES ITS SALES OF PRODUCTS AND SERVICES IN 2016

 

  • 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

 

Bagneux, France – Genomic Vision (Euronext: FR0011799907 – GV), the DNA molecular combing specialist that develops diagnostic tests and advanced DNA analysis platforms, today reports its revenue and cash position[1] at December 31st, 2016.

 

[1] Unaudited data

 

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.

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, 2017[2] (after trading)

[2] Tentative date

 

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

 

Contacts

Genomic Vision
Aaron Bensimon
Co-founder, Chairman & CEO
Tel.: +33 1 49 08 07 50
investisseurs@genomicvision.com

 

Capricorn One

Media & IR

Hans Herklots

Tel.: +41 79 598 7149

Capricorn1@bluewin.ch

 

LHA
Investor Relations US
Anne Marie Fields, SVP
Tel.: 212-838-3777
afields@lhai.com NewCap

 

NewCap

Investor Relations / Strategic Communications

Dušan Orešanský / Emmanuel Huynh
Tel.: +33 1 44 71 94 92
gv@newcap.eu

Member of CAC® Mid & Small, CAC® All-Tradable and EnterNext© PEA-PME 150 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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