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Biocorp
Earnings Release • Feb 12, 2020
1151_iss_2020-02-12_fa422078-7ba0-4a2b-a0e3-a05b40b078f4.pdf
Earnings Release
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BIOCORP: strong revenue growth in 2019
- · Business is up 117% at €8.45 million (vs. €3.89 million in 2018)
- · Strong cash position at € 2.007 million on December 31, 2019
· Significant post-closing event with the signature of a new Sanofi contract and the payment of a €1 million upfront
Issoire, February 12th, 2020, at 07:30 am CET - BIOCORP (FR0012788065 - ALCOR / Eligible PEA PME), a French company specialized in the development and manufacturing of medical devices and smart drug delivery systems, announces today its turnover for the financial year 2019, ending December 31, 2019.
| K€ | 12/31/2019 | 12/31/2018 | Rate |
|---|---|---|---|
| Total Revenue | 8.447 | 3.890 (1) | +117% |
| - Of which connected devices |
6.380 | 1.120 | +470% |
| - Of which Pharmaceutical devices |
2.068 | 1.785 | +16% |
| Cash Position |
2.007 | 1.341 | +50% |
(1) During fiscal year 2018, non-recurring tool re-invoicing for an amount excluding VAT of €985,000 was recorded.
• In 2019, BIOCORP's revenue amounted to 8.45 million euros, showing an appreciable increase of +117% compared to 2018.
While this performance is the result of sustained activity across all of BIOCORP's divisions and connected product developments, the very strong acceleration was notably driven by the global, non-exclusive industrial collaboration initiated with Sanofi in July 2019 concerning the Mallya connected device, dedicated to insulin pens.
• Cash Position
On 31 December 2019, BIOCORP's cash position was 2,007 k€.
• Complementary element on January 23rd, 2020
On January 23rd, 2020, the company recognized the receipt of a payment from Sanofi in the amount of 1 million euros: this payment, initially expected before December 31, 2019, was made following the signature of the new contract with Sanofi on January 10, 2020.
Eric Dessertenne, Chief Executive Officer of BIOCORP, commented: " "After nearly 70% growth in 2018, our activity further accelerated in 2019 thanks to international industrial agreements. Of course, these agreements explain our strong sales growth, but they also validate our strategy to position BIOCORP as one of the most innovative players in the field of connected healthcare. This ambition to transform BIOCORP from an OEM for the pharmaceutical industry into a designer of innovative digital solutions has really materialized in 2019 and should intensify further during the current year. Our growth in 2019 is by no means an exceptional phenomenon, we are extremely confident in our ability to maintain very strong growth rates over the long term. "
ABOUT BIOCORP
Recognized for its expertise in the development and manufacture of medical devices and delivery systems, BIOCORP has today acquired a leading position in the connected medical device market thanks to Mallya. This intelligent sensor for insulin injection pens allows reliable monitoring of injected doses and thus offers better compliance in the treatment of diabetics. Available for sale from 2020, Mallya spearheads BIOCORP's product portfolio of innovative connected solutions. The company has 54 employees. BIOCORP is listed on Euronext since July 2015 (FR0012788065 – ALCOR). For more information, please visit www.biocorpsys.com. Follow us on Twitter @BIOCORPSystems
BIOCORP CONTACTS
Jacques Gardette Éric Dessertenne Sylvaine Dessard [email protected] [email protected]
Chairman of the Board Chief Executive Officer Marketing & Communication Director + 33 (0)6 88 69 72 85
ULYSSE COMMUNICATION CONTACTS Bruno ARABIAN Nicolas DANIELS [email protected] [email protected] +33 (0)6 87 88 46 26 +33 (0)6 63 66 59 22
