EVRY, France--(BUSINESS WIRE)--Regulatory News:
IntegraGen (FR0010908723 – ALINT – Eligible PEA PME), a company specializing in decoding the human genome which performs interpretable genomic analyzes for academic and private laboratories, today announced its unaudited turnover for the first half of 2021.
The unaudited first half turnover amounted to 4,816 k€, up 2% compared to the first half of 2020 (4,706 k€). This growth was achieved despite the sharp slowdown in general economic activity during the first half of 2021 compared with H1 2020, whose first quarter was less affected by the pandemic. This sustained growth demonstrates the robustness of IntegraGen's business model.
R&D sequencing activities continued to progress at a moderate pace, driven by whole genome sequencing projects performed for the European customers. While sequencing activities associated with the external platforms operated by IntegraGen benefited from the demand of sequencing projects linked to the pandemic, oncology-related clinical research activities, in particular the sales of interpretation software, slowed significantly for the same reason.
The company’s cash position at the end of June 2021 was 4,272 k€, a decrease of nearly 850 k€ compared to the cash position as of December 31, 2020. This variation was due to change in working capital requirements and investments, particularly in the company’s quality systems to obtain several certifications which will lead to increase revenues generated from customers in regulated industries.
Finally, the orders booked as of June 30, 2021 were significantly higher compared to the same period of 2020, setting the stage for a sustained growth in activities during the second half of 2021. The integration of IntegraGen into the OncoDNA Group, which acquired a majority of the company's shares in 2020 through a friendly takeover bid, also enhances the prospects for IntegraGen's additional sales growth as a result of the ability to leverage the Group's subsidiaries and distributors.
Bernard Courtieu, CEO of IntegraGen, said: “The business we generated during the first half of 2021 confirms that despite the ongoing pandemic that continues to disrupt our activities, the trajectory of our revenue growth is sustainable, albeit at a lower level, with prospects for a significant recovery. The acquisition of a majority of the company's shares by the Belgian company OncoDNA results in commercial and operational synergies which will enable IntegraGen to continue its development and growth as a vital part of the OncoDNA Group."
The financial results for the first half of 2021 will be published on October 8, 2021.
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 €9 million of revenue in 2020. Based in France, IntegraGen is also present in the United States and is part of the OncoDNA group which works with an international network of 35 distributors. The Group also provides biomarker testing and clinical interpretation tools to guide treatment and monitoring of late stage 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).