IntegraGen posted revenue of €6.4m in the first half of 2022, up 34% compared to H1 2021. Cash position of €4.5m.
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Continued sustained growth associated with the company’s sequencing platform in Évry and long-term contracts
Strong revenue growth related to sequencing in microbiology
EVRY, France–(BUSINESS WIRE)–Regulatory News:
IntegraGen (FR0010908723 – ALINT), an OncoDNA group company specializing in the decryption of the human genome which carries out interpretable genomic analyzes for academic and private laboratories and develops diagnostic tools for oncology, today announces its turnover unaudited of €6,439 k for the first half of 2022, an increase of 34% compared to H1 2021. This growth in sales in all of the company’s businesses reflects the strong rebound in the general economic business climate compared to in H1 2021 which had been strongly impacted by the global pandemic.
Sequencing R&D activities resumed the pre-pandemic growth trend and were fueled by several significant projects carried out on the company’s sequencing platform in Évry. The growth is primarily the result of strong demand for projects that were initiated in the second quarter of 2021. The sequencing platform also benefited from a pandemic-related microbiology project in the first half that resulted from capacity limitations site-specific sequencing encountered by one of the company’s partners, representing c. 7% of company revenue in H1. Along with the above, sequencing activities associated with external platforms operated by IntegraGen continued to see increased production, with new oncology clinical research projects also generating revenue growth.
The company’s cash at the end of June 2022 amounted to €4,489k, down €0.3m compared to December 31, 2021. This is in line with the company’s expectations and the 2022 budget. This decrease is mainly explained by the change in the working capital requirement. This item includes a State-Guaranteed Loan (PGE) for a total amount of €1,763k, received at the beginning of 2020, which the Company began to repay in June.
Despite a temporary slowdown in order intake at the end of June, the company confirms its growth prospects based on the current commercial dynamic and existing long-term contracts as well as the synergies now in place with the other entities of the OncoDNA group.
Bernard Courtieu, CEO of IntegraGen, said “Revenues generated during the first half of 2022 confirm the resilience of IntegraGen’s business across every business line of the business. The business is now well positioned for the future with a rebound in our business growth seen in 2022 demonstrating our growth potential. The company’s business continues to be driven by long-term contracts to operate external sequencing platforms with additional benefits from strong commercial momentum, including the synergies we are now experiencing from our full integration into the OncoDNA group.
The complete financial results for the first half of 2022 will be published on October 18, 2022.
IntegraGen is a company of the OncoDNA group specialized in the genomics of cancer and rare genetic diseases. Relying on highly competent and qualified teams, IntegraGen is a major player in DNA sequencing services and genomic data interpretation software. The company operates one of the largest NGS laboratories in France and operates for research institutes of excellence. As part of the OncoDNA Group, IntegraGen harnesses the power of next-generation sequencing with a mission to deliver the promise of precision medicine to patients. IntegraGen has approximately 50 employees and generated 10.8 million euros in revenue in 2021. Based in France, IntegraGen is part of the Belgian OncoDNA group present in Spain, the United Kingdom, Germany and works with a network international network of 35 distributors. The Group also provides biomarker tests and clinical interpretation tools to guide the treatment and monitoring of the most recent solid tumors and to accelerate the development of new anti-cancer drugs.
IntegraGen is listed on Euronext Growth in Paris (ISIN: FR0010908723 – Ticker: ALINT – Eligible PEA-PME).
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