- Significant reduction of COVID-19 related activities
- Growth of all other lines of business
- Cash totaling €2.9m on Dec 31st, 2023
- Laboratory in Évry accredited by the College of American Pathologists (CAP) enabling to target the large and growing demand of the pharmaceutical industry
Regulatory News:
IntegraGen (FR0010908723 ALINT) (Paris:ALINT) an OncoDNA Group company specializing in the decryption of the human genome which performs interpretable genomic analyzes for academic and private laboratories and develops diagnostic tools for oncology, today announced its non-audited revenue of €11,751k in 2023, representing a decrease of 7% compared to 2022 (excluding intra-group transactions). This decrease in revenues in 2023 is mainly due to the drop in COVID-19 related activities, which were partially offset by a significant increase in other business lines. While the SeqOIA platform has grown by 9%, the activities linked to the Microbiology with the P2M platform of the Institut Pasteur, closely related with the COVID-19 pandemic, have decreased by 37%. Genomic services business in Évry remained stable (+2%).
Compared to the 2023 H1 revenues, which were 14% below H1 2022, the recovery in revenues in H2 2023 is significant and allows to anticipate a resume in growth for the activities continued in 2024.
The Company's cash situation as of December 31, 2023, was €2.9m, in line with the company's expectations and 2023 budget.
As indicated at the occasion of the H1 2023 revenues last October, IntegraGen confirms that the 5 years contract with the SeqOIA GCS will end as of February 29, 2024. Consequently, IntegraGen has implemented a rightsizing effort to support the improvement of company's profitability, leading to a significant reduction of its total number of employees, effective in February 2024.
In addition, IntegraGen laboratory in Évry received the accreditation of the College of American Pathologists (CAP), which is necessary to conduct sequencing activities in the context of clinical drug development. IntegraGen is now able to address the large and growing demand of the pharmaceutical industry, drastically increasing its total addressable market.
Bernard Courtieu, IntegraGen CEO, said "2023 has been the first year without any COVID-19 effect, and has demonstrated once again the robustness of our business model. We will continue to deliver superior value to our customers, and are targeting new areas of growth, particularly the services to the bio-pharma industry for the clinical development of new drugs in Oncology, in conjunction with the OncoDNA Group. All this, associated with the cost reduction program initiated in Q4 2023, will help to support our profitability, and provide the basis for future sustained profitable growth of IntegraGen
Full financial results for the full year 2023 will be published on April 24, 2024.
ABOUT INTEGRAGEN
IntegraGen is an OncoDNA group company specializing in the genomics of cancer and rare genetic diseases. Backed by highly competent and qualified teams, IntegraGen is a leading player in DNA sequencing services and genomic data interpretation software. The company runs one of the largest NGS labs in France and operates for research institutes of excellence. As part of OncoDNA group, IntegraGen leverages the power of next generation sequencing with the mission of delivering the promise of precision medicine to patients. IntegraGen has about 50 employees and generated €10,8 million of turnover in 2021. Based in France, IntegraGen is part of the Belgian OncoDNA group present in Spain, UK, Germany and works with an international network of 35 distributors. The Group also provides biomarker testing and clinical interpretation tools to guide treatment and monitoring of latestage solid tumors and accelerate the development of new cancer drugs.
IntegraGen is listed on Euronext Growth in Paris (ISIN: FR0010908723 Mnemo: ALINT Eligible PEA- PME).
For further information, please visit www.integragen.com or connect with us on LinkedIn or Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240116179642/en/
Contacts:
IntegraGen
Bernard COURTIEU
CEO
Virginie Decoster
CFO
contact@integragen.com
Tél.: +33 (0)1 60 91 09 00
NewCap
Investor Relations
Louis-Victor DELOUVRIER
integragen@newcap.eu
Tél.: +33 (0)1 44 71 98 53
