Earnings Release • Jul 22, 2014
Earnings Release
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Dijon, July 22, 2014 - ONCODESIGN, a biotechnology company serving the pharmaceutical industry in the discovery of new therapeutic molecules to fight cancer and other serious illnesses with no known efficient treatment, today announces its revenue and cash position for the 1st half of 2014.
| € millions – unaudited data | H1 2014 | H1 2013 | Δ |
|---|---|---|---|
| Experimentation revenue | 2.58 | 2.23 | +15.7% |
| Discovery revenue | 0.53 | 0.63 | -15.9% |
| Total revenue | 3.11 | 2.87 | +8.4% |
| Other operating revenue | 0.2 | 0.2 | = |
| Total operating revenue | 3.31 | 3.07 | +7.8% |
| Cash position (at June 30) | 10.8 | 0.5 | +10.3 |
At end-June 2014, Experimentation revenue was up 16%, totaling €2.58m over the 1st half of 2014 versus €2.23m over the same period of 2013.
Oncodesign has thus fully benefited from its unique technological platform, which has enabled it to win new contracts in France, but also in Germany, the Netherlands, the United Kingdom, Japan and the United States. In the latter country, new orders were notably multiplied by 3.5.
Over the first six months of 2014, the portion of Experimentation revenue recorded outside France was 79%.
Over the 1st half of 2014, revenue from research collaboration, notably with IPSEN, Sanofi and UCB, totaled €0.53m, compared with €0.63m a year earlier. These figures correspond to the reimbursement of R&D costs paid by Oncodesign on discovery projects developed within partnerships.
Oncodesign's in-house TGFbR2, SIK2 and RIP2 kinases discovery programs were accelerated in accordance with the objectives of the IPO carried out in March 2014.
These R&D efforts will be continued and stepped up over the 2nd half of 2014 in order to accelerate the selection of new drug candidates on these targets of interest in oncology and inflammatory diseases.
At June 30, 2014, Oncodesign had a net cash position of €10.8m taking into account the success of the €12.2m capital increase carried out in March 2014 during the Company's IPO on the Alternext Paris.
PRESS RELEASE Net cash burn, excluding the costs associated with the IPO, totaled €1.5m over the 1st half of 2014. This limited figure is notably the result of Oncodesign's balanced and resilient business model, which combines state-of-the-art R&D activities and repeat revenue from its experimentation services activities.
"This first half of 2014 marked a major milestone in Oncodesign's development. As well as our achievements in our business activities, our IPO enabled us to obtain the necessary financial means to successfully execute our business plan and continue our permanent innovation approach aimed at helping as many patients as possible. We are notably striving to support the acceleration of our discovery programs in the promising field of kinase inhibitors and to strengthen the commercial deployment of our experimentation activities in Europe, and around the world", concludes Philippe Genne, CEO and founder of Oncodesign.
Founded 19 years ago by Dr. Philippe Genne, the Company's CEO and majority shareholder, ONCODESIGN is a biotechnology company that maximizes the pharmaceutical industry's chances of success in discovering new therapeutic molecules to fight cancer and other serious illnesses with no known efficient treatment. Backed by unique experience acquired through more than 500 clients, including the world's largest pharmaceutical companies, and relying on a comprehensive technological platform combining state-of-the-art medicinal chemistry, advanced animal modeling and medical imaging, ONCODESIGN is able to predict and identify for every molecule, very upstream, its therapeutic use and its potential to become an efficient drug. Applied to kinase inhibitors, molecules that represent a market estimated at over 40 billion dollars in 2016 and accounting for almost 25% of the pharmaceutical industry's R&D investments, ONCODESIGN's technology has already enabled the targeting of 7 promising molecules with substantial therapeutic potential, in oncology and elsewhere, and the signing of partnerships, potentially worth €350 million in upfront payments should predefined milestones be reached, with pharmaceutical groups Sanofi, Ipsen and UCB. Based in Dijon, France, in the heart of the town's university and hospital hub, ONCODESIGN has 63 staff.
OncoDesign Philippe Genne CEO Tel.: +33 (0)3 80 78 82 60 [email protected]
Investor Relations & Financial Communication Julien Perez / Emmanuel Huynh Tel.: +33 (0)1 44 71 98 52 [email protected]
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