BIOCORP: 2016 Half-Year Results: Development in Keeping with the Strategy, Confirming the Objectives Set

Regulatory News:

BIOCORP (Paris:ALCOR) (FR0012788065 – ALCOR / PEA-PME eligible), a French company specializing in the development and manufacturing of innovative medical and drug delivery devices, today announces its 2016 Half-Year Results that ended on June 30^th, 2016.

« During the first half-year 2016, the continuation and intensification of partnerships and developments with major global pharmaceutical laboratories both in connected devices such as Datapen, Easylog and in traditional devices such as Newseal, Carpseal or Biopass have asserted the relevance of our innovation-focused strategy. Supported by our IPO on Alternext Paris, the Pharmapack Awards won in 2015 and 2016 by the Datapen and Easylog, the award granted by the prestigious Frost&Sullivan consulting firm and by the globalization of our company in the United States through the nomination of Robert Kilgore, BIOCORP has successfully scaled up its activities and has become one of the leaders in the medical and drug delivery systems for the pharmaceutical industry", commented Jacques Gardette, BIOCORP’s CEO and Founder.

Highlights of the first half of 2016:

• Expansion in the United States through the nomination of Robert Kilgore as Senior Advisor;
• Winning of the Pharmapack Award for the Best Exhibitor Innovation rewarding the Easylog sensor;
• Acceleration of the Business Development of connected devices namely in endocrinology and neurology, in collaboration with several global pharmaceutical laboratories;
• Winning of the "Best Product Line Strategy Leadership” Award by Frost & Sullivan, rewarding BIOCORP’s innovations developed for the pharmaceutical industry and the company’s pioneer position in the field of connected devices.

2016 Half-Year Results, in line with the roadmap, confirm the relevance of the strategy and objectives set

BIOCORP’s Half-Year Results are in line with the strategy presented during the IPO in July 2015 which relies on a program of structuring partnerships and the development of a portfolio with connected devices. During the first half of 2016, BIOCORP has intensified the development of partnerships with major global pharmaceutical laboratories for both its non-connected and connected devices portfolio but has also begun the industrialization of NewGuard, its innovative safety device for pre-filled syringes.

These steps have highlighted the growing interest of pharmaceutical laboratories in the innovations developed by BIOCORP and has also confirmed that the relevance of the strategy set up. New partnerships have enabled BIOCORP to accelerate the development of connected devices and to expand the company’s expertise to new therapeutic indications such as endocrinology and neurology, still with the objective of bringing more efficient and durable systems designed to better assist patients with chronic diseases.

First half sales amounted to €1 559K, a significant increase of 25% compared with the first half of 2015, confirming the company’s solid control over the integrated industrial production.

The company recorded an operating revenue loss of €-2 084K, impacted by the increase of operating costs amounting to €3 713K compared with €2 764K in the first half of 2015. This increase, which is proportional the increase in activity, reflects the structuration of BIOCORP’s strategic departments. Within the framework of its scaling up’s strategy, the company has strengthened all its strategic departments: Regulatory, R&D, Business & Marketing and Production. During the first half of 2016, BIOCORP has also begun its expansion in the United States, further progressed in its investment program expanding its range of connected and traditional devices and has reinforced its partnerships’ program with global pharmaceutical laboratories.

Financial result, which totaled €8K, is made up of financial products for an amount of €K21, minus financial charges amounting to €13K.

The net result amounts to €-1 965K, the indicator’s decrease being explained by the strategic developments made and also by the renunciation of rights to the current account of BIO JAG in April 2015, a non-recurring event agreed prior to the IPO.

BIOCORP’s scale up is a necessary step for the company’s development and the successful IPO of July 2015 has enabled the company to speed up its development and restructuration in a controlled way as underlined by the results. The increase the industrial and human capacities, as well as the globalization of the company, have made it possible for BIOCORP to become a key leader in its field of expertise and to build partnerships with global pharmaceutical laboratories.

As of June 30^th 2016, the company had a strong cash position of €4 342K compared to € 6 024K as of December 31^st 2015, and the level of equity was worth €5 097K (compared to €7 062K on December 31^st 2015).

2016 objectives and outlook

During the second half of 2016, BIOCORP will continue its development on several strategic axes:

• Further development of the connected devices portfolio and expansion in the United States. The different connected products, as well as the connected medical devices platform of BIOCORP, are currently being evaluated and undergoing feasibility studies by partners and global pharmaceutical laboratories on various therapeutic areas – as illustrated by the partnership closed with Aguettant in September 2016 which opens new developments for patients with Parkinson’s disease.
• Industrialization of the products under signed contracts: BIOCORP keeps on developing partnerships to develop and industrialize Newseal et Carpseal, and also NewGuard which industrialization has been initiated in the first half of 2016.
• Growth of the traditional activity: During the second half of 2016, BIOCORP will also intensify its business presence in order to further develop its traditional activity.
• Dedicated developments: BIOCORP will also pursue R&D projects for third parties, carried outside BIOCORP’s platforms upon request from partner laboratories, which may lead to new developments and partnerships.

ABOUT BIOCORP
Founded in 2004 in Issoire (near Clermont-Ferrand), France, Biocorp is a French company specializing in the development and manufacturing of medical devices and innovative drug delivery systems. It is listed as ‘Innovative Company’ by the French public investment bank Bpifrance. With over twenty years of experience and more than 30 manufactured products, Biocorp is a key player in the industry, providing drug delivery solutions that meet the evolving needs of patients. Today, Biocorp continues to innovate in the area of medical plastics, its core business, and to market traditional devices (alternative to aluminum capsules, syringe and vial administration systems) that have been an important source of recurring income. Its solid expertise and capacity to innovate have allowed the company to develop new Internet-connected products, including: the DataPen, a reusable smart injection pen that automatically transmits data to a mobile app, helping patients to manage their treatment; and treatment management add-ons, which adapt to existing delivery devices and are compatible with most injection pens in the market. The company has a team of 44 employees.
Biocorp is listed on Alternext since July 2015 (FR0012788065 – ALCOR).

For more information, please visit: www.biocorp.fr
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