TOULOUSE, France--(BUSINESS WIRE)--Regulatory News:
VEXIM (Paris:ALVXM) (FR0011072602 – ALVXM / PEA‐PME), a medical device company specializing in the minimally invasive treatment of vertebral fractures, today announces its consolidated sales results for the third quarter 2016.
« Vexim continues to develop according to its plan. Our results confirm the objectives set as the SpineJack® is becoming a reference on the spine trauma market. We are aiming at a market share of 10% in Europe by the end of 2016 and continue to strengthen our presence namely in Germany. Outside of Europe, we are also extending our market coverage with new developments in Australia and South Africa, a trend that will be reinforced in 2017. As announced during our half-year result publication, we are still confident in achieving profitability in the second-half of 2016 while maintaining a solid cash position”, said Vincent Gardès, Vexim’s CEO.
Continued growth in the third quarter 2016
|Revenues (in million of euros as of September, 30th)|
|Quarterly sales||Cumulated sales (9 months)|
|Q3 2016||Q3 2015||Variation (%)||2016||2015||Variation (%)|
Vexim’s sales reached €4.7 million over the third quarter 2016, up 32% compared with the same period in 2015. These results are in line with the objectives set for the full year 2016 and reflect Vexim’s strong performance on all its markets.
Vexim’s growth in Europe remains solid, up 37% in the first nine months of the year. Vexim continues to gain market shares in France and pursues its development in Germany.
There is also a growing interest in the SpineJack® technology outside of Europe, where Vexim’s cumulated sales increased by 51% as of September 30, 2016. The company recently announced the signature of a distribution agreement in South Africa1 and the registration of its products SpineJack® and Masterflow™ in Australia2.
As of September 30, 2016, the total number of implants sold since the launch of the SpineJack® in 2011 came over 38,150 units, representing approximately 18,175 patients treated.
Click on the following link to view the presentation of Vexim’s
half-year 2016 results:
Financial reporting schedule:
2016 sales results: January 17th, 20173
About VEXIM, the innovative back microsurgery specialist
Based in Balma, near Toulouse (France), VEXIM is a medical device company created in February 2006. The company has specialized in the creation and marketing of minimally-invasive solutions for treating traumatic spinal pathologies. Benefitting from the financial support of it longstanding shareholder, Truffle Capital4 and from BPI public subsidies, VEXIM has designed and developed the SpineJack®, a unique implant capable of repairing a fractured vertebra and restoring the balance of the spinal column. The company also developed the MasterflowTM, an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure. The company counts 64 employees, including its own sales teams in Europe and a network of international distributors.
VEXIM has been listed on Alternext Paris since May 2012. For further information, please visit www.vexim.com
SpineJack® 5, a revolutionary implant for treating Vertebral Fractures
The revolutionary aspect of the SpineJack® lies in its ability to restore a fractured vertebra to its original shape, restore the spinal column’s optimal anatomy and thus remove pain and enable the patient to recover their functional capabilities. Thanks to a specialized range of instruments, inserting the implants into the vertebra is carried out by minimally-invasive surgery, guided by X-ray, in approximately 30 minutes, enabling the patient to be discharged shortly after surgery. The SpineJack® range consists of 3 titanium implants with 3 different diameters, thus covering 95% of vertebral fractures and all patient morphologies. SpineJack® technology benefits from the support of international scientific experts in the field of spinal surgery and worldwide patent protection through to 2029.
MasterflowTM 2, a high-performance orthopedic cement delivery system
The MasterflowTM is an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure for treating vertebral compression fractures. The device provides a better control of the injection of biomaterials into the spine. A complement of the SpineJack®, the MasterflowTM stands out for being both easy to use and precise, particularly in its ability to stop the cement delivery instantly without inertia. The MasterflowTM contributes to reducing pain in patients. Its first sales were recorded in the U.S. in February 2015, and the system has also received the CE marking in February 2015, a mandatory conformity mark for products marketed in Europe.
Name : VEXIM
ISIN code : FR0011072602
Ticker : ALVXM
3 Indicative date, subject to changes.
4 Founded in 2001 in Paris, Truffle Capital is a leading independent European private equity firm. It is dedicated to investing in and building technology leaders in the IT, life sciences and energy sectors. Truffle Capital manages €550m via FCPRs and FCPIs, the latter offering tax rebates (funds are blocked during 7 to 10 years). For further information, please visit www.truffle.fr and www.fcpi.fr.
5 This medical device is a regulated health product that, with regard to these regulations, bears the CE mark. Please refer to the Instructions for Use.