Genomic Vision: Revenue for the 1st quarter of 2014

Regulatory News:

Genomic Vision (Paris:GV)(FR0011799907 – GV / PEA-PME eligible), a molecular diagnostics company that specializes in the development of diagnostic tests for genetic diseases and cancers using the DNA molecular combing technology, today publishes its revenue¹ for the 1^st quarter to March 31, 2014.

Revenue for the 1^st quarter of 2014

Over the first three months of 2014, the Company recorded €715.8k in revenue from its activity. This total includes €452.3k in revenue from sales and €263.5k in other revenue mainly consisting of R&D subsidies and research tax credit. Quest Diagnostics’s contribution to revenue from sales, relating to R&D, accounted for €392.6k.

Revenue from sales for the 1^st quarter of 2014 was in line with Genomic Vision’s expectations, with the Company thus far only marketing one diagnostic test: the CombHelix FSHD test. Sales of this test for a rare myopathy are carried out directly in France, to the Timone hospital in Marseille. In the United States, its marketing is exclusively entrusted to Quest Diagnostics, the American leader in diagnostic laboratory tests, within the framework of the licensing and collaboration contract signed between the two companies in November 2010.

As indicated at the time of its IPO, the Company’s activity is in large part devoted to the Research and Development programs carried out within the framework of its strategic alliance with its partner, Quest Diagnostics. This alliance entails milestone payments by Quest Diagnostics coinciding with the successful completion of the tests’ various development phases, royalties on sales by Quest and annual license revenue associated with the Company’s molecular combing technology.

Other revenue corresponds to tax credits (research tax credit, innovation tax credit) and R&D subsidies recorded over the quarter.

Cash and cash equivalents

Cash and cash equivalents totaled €3.1 million at March 31, 2014. This figure does not include the gross proceeds of approximately €25.8 million raised by Genomic Vision through its IPO in April 2014, on compartment C of the Euronext regulated market in Paris.

Upcoming events

• Participation in the French Life Sciences Day, on June 26, 2014 in New York (USA)
• Results for the 1^st half of 2014, on July 25, 2014 (after market)

Aaron Bensimon, Genomic Vision’s co-founder and Chairman of the Board, concludes: "Revenue for the 1^st quarter of 2014 is in line with our roadmap. It is essentially based on income from our R&D collaboration with Quest Diagnostics, given that sales of our first diagnostic test based on our molecular combing technology, CombHeliX FSHD, only began in 2013 and address a niche market. Our sales momentum will accelerate with the marketing of our future tests for detecting breast cancer and cancer of the colon, scheduled for 2015.”

ABOUT GENOMIC VISION

A spinoff of the Institut Pasteur, Genomic Vision is a molecular diagnostics company specialized in developing diagnostic tests for genetic diseases and cancers. Using "molecular combing”, an innovative technology that allows the direct visualization of individual DNA molecules, Genomic Vision detects quantitative and qualitative variations in the genome that are at the origin of numerous serious pathologies. Having benefited from the financial support of the Institut Pasteur, SGAM AI, Vesalius Biocapital and Quest Diagnostics, the Company is developing a solid portfolio of tests that notably target breast cancer and cancer of the colon. Since 2013, the Company has marketed the CombHeliX FSHD test for identifying a myopathy that is difficult to detect, Facio-scapulo-humeral dystrophy (FSHD), in the United States thanks to a strategic alliance with Quest Diagnostics, the American leader in diagnostic laboratory tests, and in France.

ABOUT MOLECULAR COMBING

DNA molecular combing technology considerably improves the structural and functional analysis of DNA molecules. DNA fibers are stretched out on glass slides, as if "combed”, and uniformly aligned over the whole surface. It is then possible to identify genetic anomalies by locating genes or specific sequences in a patient’s genome using genetic markers, an approach developed by Genomic Vision and patented under the name Genomic Morse Code. This exploration of the entire genome at high resolution via a simple analysis enables the direct visualization of genetic anomalies that are undetectable by other technologies.

Pour en savoir plus: www.genomicvision.com

DISCLAIMER

This press release contains 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 prospectus on which the French Financial Market Authority (AMF) granted its visa n° 14-087 on March 19, 2014 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 that it contains do not constitute an offer to sell or subscribe for, or a solicitation of an offer to purchase or subscribe for, Genomic Vision shares in any country. The communication of this press release in certain countries may constitute a violation of local laws and regulations. Any recipient of this press release must inform oneself of any such local restrictions and comply therewith.

¹ Unaudited and not subject to the approval of the Supervisory Board.
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