MALAKOFF, France--(BUSINESS WIRE)--Regulatory News:
THERACLION (Paris:ALTHE) (ISIN: FR0010120402; Mnemo: ALTHE, eligible PEA-SME), an innovative company specialized in the development of medical equipment for treatment via echotherapy (including varicose veins), provides some clarification on its cash flow situation.
As previously announced in the press release issued on January 27, 2020, Theraclion's available cash position was 1.4 million euros1 at December 31, 2019. In February 2019, Theraclion signed a 3-year financing agreement in three traches. The tranche 1 of 4.8 million euros was exercised at the signing of this agreement. Tranche 2 and 3, amounting respectively to 3 million euros and 4 million euros, have not been exercised to date. As a result, Theraclion estimates that the exercise of these two tranches will allow it to cover its cash requirements until the end of 2021.
In 2020, Theraclion expects to reach between 30% and 50% sales growth. This sales growth is expected to carry on the following years to achieve break even within three years, during the year 2022.
Theraclion develops an innovative, high-techonology echotherapy solution using therapeutic ultrasound to treat varicose veins non-invasively with its SONOVEIN® product. SONOVEIN received the CE mark in April 2019 and uses no catheter, no injection of chemicals and no incisions. No operating rooms are required. It’s based on the company’s previous experience with its Echopulse® solution. Echopulse allows non-invasive tumor ablation through ultrasound-guided high-intensity focused ultrasound (HIFU) of breast fibroadenomas and thyroid nodules.
1 Numbers Non audited
Varicose veins are a common pathology and generate 5 million interventions annually, according to the Millenium research Varicose Vein Device Market Study 2015.
Theraclion’s solutions are based on a combination of ultrasound imaging and therapeutic ultrasound, providing accuracy and ease of use to practitioners.
Based in Malakoff, near Paris, France, Theraclion has brought together a team of 25 people, 50% of whom are dedicated to R&D and clinical trials.
For more information, please visit Theraclion’s website: www.theraclion.com
Theraclion is listed on Euronext Growth Paris
Mnémonique : ALTHE – Code ISIN : FR0010120402