Theradiag Reports 20% Revenue Growth in Q3 2023

• Sales up 11% to €9.9m on September 30, 2023:
  • +13% growth in Theranostics, driven by strong export growth and accelerating
    i-tracker sales
  • +9% growth in In Vitro Diagnostics, driven by strong export performance and strategic partnership with Quotient
• Cash position under control at €5.5 M on September 30, 2023

CROISSY-BEAUBOURG, France--(BUSINESS WIRE)--Regulatory News:

THERADIAG (ISIN: FR0004197747, Mnemonic: ALTER), a company specializing in in vitro diagnostics for autoimmune diseases and Theranostics, today announced its third-quarter sales and cash position to September 30, 2023, data currently being audited.

Sales of €9.9m on September 30, 2023

In thousands of euros	Q3 2022	Q3 2023	Change	30/09/2022	30/09/2023	Change
Revenue	2,644	3,183	+ 20%	8,908	9,884	+ 11%
Of which Theranostics revenue	1,552	1,611	+ 4%	4,580	5,180	+ 13%
Of which IVD revenue	1,092	1,572	+ 44%	4,329	4,704	+ 9%

In Q3 2023, Theradiag posted sales of 3.2 million euros, compared with 2.6 million euros in Q3 2022, representing solid growth of +20%, driven mainly by the In Vitro Diagnostics (IVD) business, which grew by +44%.

On September 30, 2023, Theradiag had sales of €9.9 million, compared with €8.9 million on September 30, 2022, an increase of +11%, thanks to consistent sales performance across Theradiag's two business lines: +13% for Theranostics and +9% for IVD.

Theranostics sales rose by +13% to almost 5.2 million euros on September 30, 2023, still driven by the sales momentum of the i-Tracker® test range. This increase continues to be driven by very good export performances (+ 41%) and solid growth in France (+17%), offsetting the downturn in the US market.

IVD recorded an increase in sales of around 9%, reaching over 4.7 million euros at the end of September 2023. Despite the end of the contract with Asuragen and the drop in instrument sales, the business proved resilient thanks to a 60% increase in export performance and the strategic partnership established with Quotient.

Cash and cash equivalents at the end of September 2023 remain under control at over 5.5 million euros.

Highlights of the 3^rd quarter 2023

On September 29, 2023, the Boards of Directors of BIOSYNEX SA and THERADIAG SA unanimously approved the principle of a proposed merger by absorption of THERADIAG by BIOSYNEX (the "Merger Project").

The Merger Project will be submitted for approval to the Extraordinary General Meetings of BIOSYNEX and THERADIAG shareholders, which will be held on December 15, 2023.

About Theradiag

Theradiag is the market leader in biotherapy monitoring. Capitalizing on its expertise in the diagnostics market, the Company has been developing, manufacturing and marketing innovative in vitro diagnostic (IVD) tests for over 30 years.

Theradiag pioneered “theranostics” testing (combining therapy with diagnosis), which measures the efficacy of biotherapy in the treatment of chronic inflammatory diseases. Going beyond mere diagnosis, Theranostics aims to help clinicians set up “customized treatment” for each patient. This method favors the individualization of treatment, evaluation of its efficacy and the prevention of drug resistance. In response to this challenge, Theradiag develops and markets the CE-marked TRACKER® range, a comprehensive solution of inestimable medical value.

The Company is based in Marne-la-Vallée, near Paris, has operations in over 70 countries and employs over 60 people. In 2022, the Company posted revenue of €12.2 million. The Theradiag share is listed on Euronext Growth Paris (ISIN: FR0004197747) and is eligible for the French PEA-PME personal equity plan.

For more information about Theradiag, please visit our website: https://www.theradiag.com/