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

 

Press Releases

18/01/2016

 

2015 sales in line with expectations after all planned milestones with Quest Diagnostics were met

> Revenue from sales for the 4th quarter 2015: +127%

> Solid cash position: €15.6 million

 

Bagneux (France) – Genomic Vision (FR0011799907 – GV), a molecular diagnostics company specializing in the development of diagnostic tests for genetic diseases and cancers based on molecular combing technology, today announces its revenue from sales and cash position at December 31, 2015.

 

Revenue for the 4th quarter and full year 2015

 

Over the 4th quarter of 2015, Genomic Vision recorded revenue from sales of €987 thousand. This revenue, almost 95% of which comes from the Company’s R&D collaboration with Quest Diagnostics, was thus up sharply (+127% compared with the 4th quarter of 2014) thanks to a number of milestones being reached over the period:

delivery of an automatic DNA extractor, incorporated within the platform used for the development of the LDT (Laboratory Developed Test) version of the BRCA (breast cancer) test by Quest Diagnostics, which is in line with the start of the study jointly carried out by the two companies (see the January 14, 2016 press release),
final validation of the HNPCC (Lynch syndrome) assay by Genomic Vision with a view to its development by Quest Diagnostics,
> enrolment by Rouen University Hospital of the first patients in the clinical trial on the infantile SMA (Spinal Muscular Atrophy) test developed by Genomic Vision and selected by Quest Diagnostics as one of the jointly developed tests.

Other revenue (€51 thousand) corresponds to product sales represented by:

> direct sales of the CombHelix FSHD test at the Timone hospital, Marseille;
> royalties paid by Quest Diagnostics, which distributes this test in the United States; and
> direct sales of consumables and instruments to research laboratories.

Over the 2015 financial year as a whole, the total revenue from sales of €2.4 million was in line with the Company’s expectations and includes the Quest Diagnostics payments for all the scheduled milestones over the year.

 

Cash and cash equivalents

At December 31, 2015, cash and cash equivalents totaled €15.6 million, vs. €22.8 million at December 31, 2014, thus illustrating the Company’s excellent management of its expenditure.

 

Erwan Martin, Genomic Vision’s VP Finance & Corporate Development, comments:

“The revenue from sales recorded over the final quarter of 2015 reflects the reaching of major milestones in our strategic collaboration with Quest Diagnostics, in accordance with our commitments. Over the year as a whole, all the milestones planned in the context of this collaboration were thus successfully reached. The study of the BRCA test that we are currently launching together will be a major event in 2016, as it will contribute to strengthening its added value and its differentiation potential for Quest’s BRCA offering. Furthermore, the new automatic DNA extractor will make it possible to complete the platform installed at Quest, thus enabling it to begin the development of the LDT version of the test with a view to its launch in the United States in 2016. At the same time, we are continuing to make progress on the test jointly developed with Quest Diagnostics for detecting “healthy” carriers of infantile Spinal Muscular Atrophy.”

 

Upcoming financial publication

2015 annual results, April 30, 2016* (after trading)

* indicative date that may be subject to change

 

“2015 sales in line with expectations after all planned milestones with Quest Diagnostics were met” 

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CONTACTS

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

LHA Investor Relations US: Anne Marie Fields, SVP, Tel: 2012-838-3777, afields@lhai.com 

NewCap Investor Relations / Strategic Communications Dušan Orešanský / Emmanuel Huynh Tel.: +33 1 44 71 94 92 gv@newcap.fr

 

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

 

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