• Revenue affected by the economic crisis, down slightly: -11%
  • Substantial improvement in cash burn compared to 2019: -50%

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 and cash position at June 30, 2020.

Revenue for the first half of 2020 (unaudited data)

In € thousands

H1 2020

H1 2019

Sales of goods

391

406

Production sold

304

375

Total revenue from sales

695

781

Other revenue

123

354

Total revenue from activity

818

1,135

Revenue from sales totaled €695 thousand in the first half of 2020, a slight decrease of 11% compared to the first half of 2019. The Company sold one platform in the first half of the year, as it had in 2019, and saw sales of its other products progress. The fall in revenue was due to the non-renewal of the license granted to Quest Diagnostics, which had generated revenue of €150 thousand in the first half of 2019.

Total revenue from activity, once other revenue is taken into account, was down 28% in the first half of 2020 compared with the same period of 2019. Other revenue, which totaled €123 thousand in the first half of 2020, corresponds to Research Tax Credit, which was lower than in 2019 as a direct result of the restructuring plan that led to a reduction in the R&D headcount. In 2019, the figure also included a subsidy of €81 thousand.

Financial structure at June 30, 2020

Genomic Vision had cash and cash equivalents of €2.3 million at June 30, 2020, versus €1.1 million at December 31, 2019. This improvement is due to the drawdown of the third and fourth tranches, for a total of €2.5 million, and the exercise of the warrants associated with the third tranche (for €0.4 million) within the framework of the ABSA (shares with equity warrants attached) equity financing program set up with Winance in March 2019. Over the first half of 2020, cash burn excluding financing flows was just €1.7 million (compared with €3.4 million in the first half of 2019), thanks to a substantial decrease in spending and to good control over working capital requirements. Moreover, on June 15, the Company announced, subject to the approval of the Shareholders’ Meeting of July 24, the implementation with Winance of a new equity financing line via the reserved issuance of convertible notes with warrants (OCABSA) for a maximum of €12 million, enabling it to secure any financing requirements it may have over the next 2 or 3 years in terms of its growth strategy.

Impact of the Covid-19 crisis

The global economic slowdown associated with the lockdown has affected Genomic Vision’s main current and prospective clients. It will probably have a significant impact on revenue over the coming months, although this should not jeopardize the financial prospects mentioned above, given the Company’s good control of its cash burn.

Upcoming financial publications

  • Shareholders’ Meeting: Friday, July 24, 2020
  • H1 2020 results: Tuesday, September 29, 2020

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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. Based near Paris, in Bagneux, the Company has approximately 30 employees. GENOMIC VISION 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 reference document dated March 29, 2019 filed with the AMF under reference number R19-004, 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 Rémy-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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