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SOPHIA ANTIPOLIS, France–(BUSINESS WIRE)–Regulatory News:
Median Technologies (Paris:ALMDT), The Imaging Phenomics Company®, appear today its abounding year 2019 banking results. Median Technologies’ Lath of Directors accustomed the circumscribed 2019 banking statements on April 9, 2020.
As of December 31, 2019, acquirement accomplished €9m, an admission of 41% compared with 2018 acquirement of €6.5m. The Company’s quarter-on-quarter acquirement beforehand was abiding above 2019, acknowledging the beforehand drive already apparent during the additional bisected of 2018. In total, business connected to abound steadily over six quarters, with boilerplate anniversary beforehand of 13.8%. Aggregation acquirement was absolutely generated by the iCRO business unit, which delivers solutions and casework for medical angel administration in oncology analytic trials. The iBiopsy® business assemblage is not breeding acquirement at this stage, as it currently alone includes Assay and Development activities.
As of December 31, 2019, the adjustment excess for the iCRO business assemblage stood at €38.3m, an admission of 24.8% compared with the adjustment excess as of June 30, 2019 and of 61.6% compared with the adjustment excess as of December 31, 2018.
Selected banking advice (IFRS circumscribed banking statements)
In bags of euros (audited figures)
Acquirement from accustomed activities
Net banking aftereffect
In 2019, Median’s boilerplate headcount was 87 employees, with an dispatch in the clip of application during the additional bisected of 2019: as of December 31, the Company’s headcount stood at 106 employees.
Banknote and banknote equivalents as of December 31, 2019 were €7.6m, against €12.7m as of December 31, 2018. Banknote amount was €0.4m per ages for 2019 as a whole. This bankrupt bottomward into €0.8m per ages during the aboriginal bisected of the year and €0.3m per ages during the additional half, excluding the favorable appulse of the Assay Tax Credit.
Taking these items into account, the Aggregation appear a net accident of €8m, compared with €15.3m in 2018, appearance a above abatement of 48%.
2019: stabilization of the iBiopsy® technology and almanac business for the iCRO business assemblage
iBiopsy®: in 2019, Median stepped up its Assay and Development activities, with absolute amount of €4.7m, of which a cogent allotment for its imaging phenomics belvedere iBiopsy®. Based on the best avant-garde AI technology and abstracts science, iBiopsy® will, application imaging biomarkers, analyze in an avant-garde address the specific signatures of assertive diseases for their aboriginal detection, the altitude of their severity and their monitoring.
During the year, new proprietary abstraction solutions for advice “hidden” in medical imaging accept been developed and optimized in two indications: primary alarmist blight (HCC – Hepatocellular Carcinoma), the fourth arch account of afterlife by blight worldwide; and hepatic fibrosis in the analytic ambience of NASH (Non-alcoholic Steatohepatitis), a ache whose prevalence is decidedly accretion worldwide. These after-effects were presented during celebrated all-embracing conventions and congresses in the United States and Europe.
Median has additionally developed its technology abject and has started to cycle out its arrangement on a ample calibration with a billow architectonics that allows the real-time identification of biomarkers.
A €35m costs acceding with the European Beforehand Bank (EIB) was active on December 18, 2019.
Imaging solutions and casework for analytic trials (iCRO): 2019 was a almanac year for the iCRO business unit. The iCRO action accomplished breakeven at the end of the aboriginal bisected of 2019 and accustomed that it is a assisting business with acceptable growth.
In 2019, the iCRO BU connected its beforehand in China through its WFOE (Wholly Foreign Owned Enterprise) in Shanghai, which has become an operational anatomy accouterment bounded casework to biopharmaceutical companies. At end-2019, 56% of the adjustment excess accompanying to Chinese projects, compared with 39.2% at end-2018.
Median has additionally abundantly exceeded its 2019 objectives for Europe and the United States, acknowledgment to a specific and decidedly assisting action of developing sales based on the ceremony of contracts. This highlights the added assurance in the beheading of projects as able-bodied as the competitiveness and affection of Median’s services. Above the year as a whole, the affection of casework was accurate by 12 acknowledged chump audits and one FDA (Food and Drug Administration) assay apropos to a above Phase III balloon of a Top 3 pharma company.
2020 outlook, excluding the appulse of COVID-19
iBiopsy®: the 2020 roadmap for iBiopsy® will focus on the analytic development plan, artefact roadmap, analytic and abstruse cardinal partnerships, accurate by an bookish acreage aegis strategy. The aboriginal tranche of the accommodation (€15m of a absolute €35m) accepted by the EIB to Median Technologies will be appear afore the end of the aboriginal bisected of 2020. In appearance of this defended costs by the EIB, Median started, as of the alpha of 2020, to footfall up its beforehand affairs and application plan. In 2020, alien investments will mainly chronicle to admission to abstracts for analytic approvals on ample cohorts and the accomplishing of the bookish acreage aegis strategy.
iCRO: the iCRO business should adore abiding beforehand acknowledgment to the about-face of its growing adjustment excess and its accession on the Chinese market. The freedom of Median’s accessory in China should abide to admission in 2020. The Aggregation intends to strengthen its iCRO operational teams and sales force above the board.
A assay of the COVID-19 bearings
In apprehension of the lockdown measures taken by the French government on March 17, 2020 due to the COVID-19 accessible bloom crisis, Median instructed all of its French-based advisers to assignment from home as of March 16. The Company’s business chain has been anchored aback this date. Median operates globally via cloud-based infrastructures which are acclimated circadian to bear imaging solutions (iCRO) to its barter beneath accustomed conditions; casework accordingly abide to be provided as usual.
iCRO: the alpha of the accessible bloom crisis in China led to delays in February in the accession of images from Chinese hospitals for analytic trials that were already underway. The alpha dates for new trials in the adjustment excess were additionally postponed, arch to a adjournment to inflows for the Company. The bearings was about absolutely aback to accustomed in March.
With the beforehand of the communicable in March to Europe and again to the United States, the aforementioned impacts accept been apparent and accept generated a adjournment to inflows aback mid-March.
Acquirement for the aboriginal division of 2020 should nonetheless beforehand compared with the fourth division of 2019. A columnist absolution announcement 2020 aboriginal division after-effects will be appear shortly. This columnist absolution will additionally accommodate an overview of the company’s action with attention to COVID-19.
Considering the ambiguity surrounding the progression of the accessible bloom crisis, it is too anon to accommodate acquirement forecasts for the additional quarter. Nevertheless, for 2020 as a whole, Median Technologies expects the appulse of the COVID-19 crisis on its iCRO business to be limited.
iBiopsy®: assay and development activities apropos to iBiopsy® abide as accustomed acknowledgment to the development basement that has been in abode for several months and which is acclimated on a circadian base beneath accustomed conditions. The cartoon bottomward of the aboriginal tranche of the EIB’s accommodation shall booty place, as initially planned, during the aboriginal bisected of the year.
“The accomplished achievement of Median’s iCRO business validates the cardinal decisions which we fabricated in 2018. We are captivated to see that this business has become assisting and enjoys acceptable growth. Despite the COVID-19 situation, we apprehend this drive to abide in 2020. At the aforementioned time, the aggregate of our adjustment excess makes us assured in our adeptness to accomplish our 2020 acquirement target” said Fredrik Brag, CEO and co-founder of Median Technologies. “In acceding of iBiopsy®, like the accord acceding appear with AP-HP on March 2, we apprehend 2020 to accompany partnerships and analytic abstracts that will accredit the all-embracing analytic validation of our access for assertive ameliorative indications”, Fredrik Brag added.
Median informs its shareholders and the banking association that its anniversary banking address on the accounts for the year concluded December 31, 2019 was fabricated accessible and filed with the AMF. The anniversary banking address is accessible on the aggregation website: www.mediantechnologies.com/investors/
Forward-Looking Statements: This columnist absolution contains advanced statements. Advanced statements are statements that are not absolute facts. These statements accommodate projections and estimates and their basal assumptions, statements apropos plans, objectives, intentions and expectations with account to approaching banking results, events, operations, services, artefact development and potential, and statements apropos approaching performance. Advanced statements are about articular by the words “expects”, “anticipates”, “believes”, “intends”, “estimates”, “plans” and agnate expressions. Although Median’s administration believes that the expectations reflected in such advanced attractive statements are reasonable, investors are cautioned that advanced advice and statements are accountable to assorted risks and uncertainties, abounding of which are difficult to adumbrate and about above the ascendancy of Median, that could account absolute after-effects and developments to alter materially from those bidding in, or adumbrated or projected by, the advanced advice and statements. These risks and uncertainties accommodate amid added things, the uncertainties inherent in assay and development, approaching analytic abstracts and analysis, including column marketing, decisions by authoritative authorities such as the absence of agreement that the account if accustomed will be commercially successful, the approaching approval, Median’s adeptness to account from alien beforehand opportunities, to complete accompanying affairs and/or access authoritative clearances, risks associated with bookish property, trends in barter ante and prevailing absorption rates, airy bread-and-butter conditions, the appulse of amount ascendancy initiatives and consecutive changes thereto, the boilerplate cardinal of shares outstanding as able-bodied as those discussed or articular in the accessible filings with the AMF fabricated by Median, added than as appropriate by applicative law, Median does not undertake any obligation to amend or alter any advanced advice or statements.
About Median Technologies: Median Technologies provides avant-garde imaging solutions and casework to beforehand healthcare for everyone. We advantage the ability of Imaging Phenomics to accommodate insights into atypical therapies and assay strategies. Our different solutions for medical angel assay and administration in oncology trials and iBiopsy® for imaging phenotyping, calm with our all-around aggregation of experts, are advancing the development of new drugs and analytic accoutrement to adviser ache and appraise acknowledgment to therapy. Median Technologies supports biopharmaceutical sponsors and healthcare professionals about the apple to bound and absolutely accompany new treatments to patients in need. This is how we are allowance to actualize a convalescent world.
Founded in 2002, based in Sophia-Antipolis, France, with a accessory in the US and addition one in Shanghai, Median has accustomed the characterization “Innovative company” by the BPI and is listed on Euronext Beforehand bazaar (ISIN: FR0011049824, ticker: ALMDT). For added information: www.mediantechnologies.com
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