• Revenue from sales down 70%
  • Cash burn under control and financial visibility secured for the next 12 months

Regulatory News:

Genomic Vision (Paris:GV) (FR0011799907 – GV), a biotechnology company that develops tools and services dedicated to the analysis and control of changes in the genome, today announced its revenue for the first quarter and its cash position at March 31, 2021.

Q1 2021 revenue

In € thousands

Q1 2021

Q1 2020

Sales of products

82

334

Sales of services

83

218

Total revenue from sales

165

552

Other revenue

53

121

Total revenue from activity

218

673

Revenue from sales totaled €165 thousand in the first quarter of 2021, down 70% compared with the first quarter of 2020. This fall was notably a result of the lack of any platform sales over the period while, in the first quarter of 2020, Genomic Vision sold a platform to the Leibnitz Institute on Aging - Fritz Lipmann Institute (FLI) in Germany, within the framework of collaboration that is actively continuing.

Orders booked since the end of 2020 are showing signs of an upturn whose effects should be felt during the second half of this year. Within the context of the public health crisis that has heavily impacted Genomic Vision’s activities, and therefore its revenue, the Company has undertaken a sizeable R&D focus specific to targeted programs in recent months in order to strengthen its commercial offer.

Total revenue from activity, once other revenue is taken into account, was down 68% in the first quarter of 2021 compared with the same quarter of 2020. Other revenue, which totaled €53 thousand, mainly corresponded to Research Tax Credit, which was lower than last year as a result of the restructuring plan that led to a reduction in the R&D headcount.

Financial structure at March 31, 2021

At March 31, 2021, Genomic Vision had cash and cash equivalents of €2.2 million, versus €2 million at December 31, 2020. This slight improvement takes into account the drawdown of the second tranche, for €1.2 million, within the framework of the financing line implemented with Winance in June 2020.

This program provides for the issuance, to the benefit of Winance, of a number of tranches of OCABSA bonds convertible into ordinary shares to which a share subscription warrant is attached, each tranche being for €1 million, representing a bond issue of up to €12 million over a 24-month period. The first tranche was issued on November 30, 2020 for €800 thousand and the second tranche, for €1.2 million, was issued in March 2021.

The Company thus has a remaining balance of €10.0 million on this financing line that may be exercised in accordance with the characteristics indicated in the Prospectus granted visa number 21-028 by the AMF French stock market authority on February 9, 2021 and subject to contractual and legal conditions.

Based on revised growth, sales and Research & Development, Sales & Marketing and General & Administrative spending assumptions, as well as assumptions regarding its associated working capital requirements, Genomic Vision will thus have the necessary financial resources to continue its development over the next 12 months.

Impact of the Covid-19 crisis

The global economic slowdown associated with the public health crisis has had a substantial impact on Genomic Vision’s main current and prospective clients, although this should not jeopardize the financial prospects indicated above given the Company’s good control of its cash burn. The upturn in activity should be felt during the second half of 2021.

Upcoming financial publications and events

  • Shareholders’ Meeting: Thursday June 11, 2021
  • H1 2021 results: Thursday July 29, 2021
  • Q3 2021 revenue: Thursday October 28, 2021

***

ABOUT GENOMIC VISION

GENOMIC VISION is a biotechnology company developing products and services dedicated to the analysis (structural and functional) of genome modifications as well as to the quality and safety control of these modifications, in particular in genome editing technologies and biomanufacturing processes. Genomic Vision proprietary tools, based on DNA combing technology and artificial intelligence, provide robust quantitative measurements needed to high confidence characterization of DNA alteration in the genome. These tools are mainly used for monitoring DNA replication in cancerous cell, for early cancer detection and the diagnosis of genetic diseases. Genomic Vision, based near Paris in Bagneux, is a public listed company listed in compartment C of Euronext’s regulated market in Paris (Euronext: GV – ISIN: FR0011799907).

For further information, please visit www.genomicvision.com

Member of the CAC® Mid & Small and CAC® All-Tradable indexes

FORWARD LOOKING STATEMENT

This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business. Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the “Risk Factors” section of the universal registration document filed with the AMF on February 9, 2021 under reference number R.21-002, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements.

This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.

Genomic Vision Dominique Remy-Renou CEO Tel.: +33 1 49 08 07 51 investisseurs@genomicvision.com

Ulysse Communication Press Relations Bruno Arabian Tel.: +33 1 42 68 29 70 barabian@ulysse-communication.com

NewCap Investor Relations & Strategic Communications Tel.: +33 1 44 71 94 94 gv@newcap.eu

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