Cellnovo: 2015 Full Year Sales

Regulatory News:

Cellnovo Group (Paris:CLNV) ("Cellnovo” CLNV:EN Paris), a medical technology company marketing the first mobile, connected, all-in-one diabetes management system, today announces its revenue from sales and cash position at December 31, 2015.

Fourth-quarter and full-year revenues

Over the fourth quarter of 2015, Cellnovo booked record sales of €346,524, an almost four-fold increase over the fourth quarter of 2014. For the full year 2015, revenues totaled €608,125, an almost five-fold increase over 2014.

These positive figures are a result of strong growth both in France and the UK, and the contribution of initial sales of the Cellnovo Diabetes Management System in The Netherlands.

In France, the system is now available in more hospitals and clinics as a result of an expanding commercial organization. In the UK, Cellnovo generated further attention through an NHS Alliance programme, which featured Cellnovo as an example of how an innovative, e-connected patch pump could help empower individuals and communities and alleviate the burden on national healthcare systems. In The Netherlands, Cellnovo made good progress with initial sales of pumps and continues to focus on raising awareness of the system.

Over the fourth quarter, Cellnovo shipped 102 new systems, for a total of 224 since launch. With demand continuing to outstrip supply, the manufacturing outsourcing programme with Flex (Flextronics), initiated at the end of September 2015, is progressing well and will enable Cellnovo to significantly increase system shipments in the second half of 2016.

As of December 31, 2015, Cellnovo’s available cash position was €26.1M.

Sophie Baratte, Chief Executive Officer of Cellnovo, said "We are pleased to announce that Cellnovo’s fourth quarter sales are in line with our expectations, reflecting the success of our unique diabetes management system in both France and the UK. We are further encouraged by the recent launch in The Netherlands, in line with our plans for commercial expansion, and we are anticipating the launch of our system in new European countries in the coming months. We look forward to finalising the transfer of the technology to Flex, in order to be able to meet the strong demand for our product.”

About Cellnovo

An independent medical technology company specialising in diabetes, Cellnovo has developed and markets the first mobile, connected all-in-one diabetes management system that helps make life easier for patients. Compact, tubeless, intuitive and entirely connected, Cellnovo’s insulin pump comprises a mobile touchscreen controller with an integrated blood-glucose meter. This unique device allows optimal management of insulin injections whilst ensuring extensive freedom of movement and peace of mind for patients. Thanks to the automatic transmission of data, it also allows the patient’s condition to be continually monitored by family members and healthcare professionals in real-time.

For further information please visit www.cellnovo.com

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