IntegraGen Reports 1st Half Results for 2013

INTEGRAGEN (FR0010908723 - ALINT), a leading player in the development and marketing of molecular diagnostic testing in autism and oncology, today released its financial results for the half year ending on June 30, 2013. The Board of Directors reviewed the figures during their assembly on October 22, 2013.

Bernard Courtieu, Chief Executive Officer of IntegraGen stated:

"We are extremely satisfied by the very dynamic first half of the year, not only with our Genomic Services activities, but also with the launch of ARISk^® test in the U.S. market which identifies the risk of autism. This period has allowed us to further consolidate our leadership in genomic services in general and we look forward to entering 2014 as we look to launch products resulting from our research activities in the field of oncology for both liver and colon cancer as well as in autism. The recent positive feedback we have received for our portfolio of biomarkers in oncology will allow us to speed up our efforts and enable us to provide physicians with molecular diagnostic tests which allow for the better management of their patients.”

As previously announced, IntegraGen’s revenues have grown 18%, fueled by genomic services, with sales of the ARISk Test for the identification of the risk of autism in children also progressing.

• 2.7 M€ revenues, growing by 18% compared to H1 2012. Demand for high-throughput sequencing services remains high.
• Progress with ARISk Test sales in the U.S.

FINANCIALS

• Income statement
  
  Revenues for the first half of 2013 amounted to 2,665 thousand euros, compared to 2,256 thousand euros during the same period in 2012, a growth of 18%. After accounting for operating grants and other revenues and provisions, total revenues amounted to 2,708 thousand euros compared to 2,281 thousand euros during H1 2012.
  
  Operating loss amounted to 1,629 thousand euros compared to an operating loss of 1,274 thousand euros during H1 2012. IntegraGen continues important development efforts focused on finalizing molecular diagnostic tests and has expanded the company’s bioinformatics team during this period in support of these efforts.
  
  After incorporation of financial results, exceptional result and Research Tax Credit related to R&D efforts realized during the period, the net result was a loss of 1,424 thousand euros compared with a loss of 999 thousand euros during H1 2012.

• Balance sheet
  
  Net cash position as of June 30, 2012 was 2,875 thousand euros compared to 4,874 thousand euros as of December 31, 2012. It is also to be noted that the Research Tax credit, which was provided in 2012 during the first half of the year is expected to be provided during H2, in an amount greater than 500 thousand euros.

ACTIVITY

• Genomic Services
  
  Demand for genomic services has remained at high levels, in particular for high-throughput sequencing which amounts for more than three quarters of the total activity, with more than two thousand whole exomes sequenced performed to date in 2013.

• Autism Risk Test
  
  IntegraGen launched the ARISk Test in Q3 2012. This represents the first test that identifies the risk of autism in siblings of individuals previously diagnosed with an autism spectrum disorder. The ARISk Test is designed to reduce the delay between the first clinical signs of developmental delay and the eventual diagnosis of autism contributing to an earlier treatment for affected children. Sales of the ARISk Test have increased significantly over H1 and the test is now routinely prescribed by more than a dozen autism and pediatric centers in the U.S.
  
  The development of a second, advanced version of the ARISk Test, a population-based test children presenting with signs of developmental delay or autism without a family history of autism, has been finalized by IntegraGen’s R&D team and scientific advisors. The company plans to make this newer version of the test available to clinicians by the end of 2013 allowing IntegraGen to confirm its positioning as the autism risk assessment company.

• Oncology
  
  Validation studies related to bio-markers developed by IntegraGen in the field of liver and colon cancer have been presented at several scientific meetings including the annual meeting of the American Society of Clinical Oncology (ASCO) this past June in Chicago and at the International Liver Cancer Association (ILCA) in Washington, D.C. in September.

PERSPECTIVES

IntegraGen activities should keep the pace of a double digit growth in 2013.

Furthermore IntegraGen plans to launch by year end the second version of the ARISk Autism Risk Assessment Test for a broader population of children, specifically, children with signs of developmental delay or suspicion of autism without a family history of autism.

For oncology, IntegraGen will continue to conduct large scale replication studies, focusing on the predictive value of the Company’s biomarker which is intended to predict response to anti-EGFR therapy in patients with metastatic colorectal cancer.

Consumption of cash will remain low for H2 2013. In particular the Company will benefit from the reimbursement of the Research tax credit. IntegraGen also received in July the second tranche of more than 300 thousand euros of the zero percent interest loan from the BPI related to the BIOMOS project and amounting to 480 thousands euros. BIOMOS, started in 2011, is the project which targets the development of biomarker-based diagnostic tests.

ABOUT INTEGRAGEN

Founded in 2000, IntegraGen (ALINT.PA) is a biotechnology company focused on the development and commercialization of molecular diagnostic tests in the fields of autism and oncology. IntegraGen’s mission is to translate molecular research into clinical practice through the identification of novel genetic biomarkers and the subsequent development of molecular diagnostic tests which allow clinicians to better manage the clinical care of their patients. IntegraGen is also a leader in delivering expert genomic service solutions to academic researchers and life sciences companies as a result of its scientific knowledge and technological expertise related to cutting edge genomic platforms and bioinformatics.

As of June 30 2013, IntegraGen had 33 employees. Its headquarters are located in Evry, Genopole. The Company is also located in the United States, through its subsidiary IntegraGen Inc., based in Cambridge, MA.

IntegraGen is listed on Alternext of NYSE Euronext Paris (ISIN: FR0010908723 - Ticker: ALINT)

For more information on IntegraGen visit http://www.integragen.com/home_en.php.