Press release Biocartis Group NV

Biocartis announces planned operational reorganization and cost reduction program - Seite 2

The reorganization includes the intention to reduce employment globally by approximately 140 positions (approximately 25% of the workforce), and includes a number of people employed in Biocartis’ Belgian entities which triggers the application of the Belgian rules on collective dismissals. Consequently, a declaration of intent of the collective dismissal has been filed today in accordance with the Belgian rules on collective dismissals.

The Company has engaged in constructive dialogue with key creditors and is planning to engage an international investment bank to assist in the development of a strategy and implementation of a recapitalization of the Company.

As part of the reorganization Piet Houwen, the Company’s Chief Operating Officer, has submitted his resignation effective 1 September 2023.

As a result of the uncertainty related to the operational reorganization, the Company withdraws its 2023 outlook at least until the publication of its financial results for H1 2023 on 31 August 2023.

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About Biocartis

Biocartis (Euronext Brussels: BCART) is an innovative molecular diagnostics (MDx) company providing next generation diagnostic solutions aimed at improving clinical practice for the benefit of patients, clinicians, payers and industry. Biocartis' proprietary MDx Idylla platform is a fully automated sample-to-result, real-time PCR (Polymerase Chain Reaction) system that offers accurate, highly reliable molecular information from virtually any biological sample in virtually any setting. Biocartis is developing and marketing a continuously expanding test menu addressing key unmet clinical needs, with a focus in oncology, which represents the fastest growing segment of the MDx market worldwide. Today, Biocartis offers tests supporting melanoma, colorectal and lung cancer, as well as for COVID-19, flu, RSV and sepsis. More information: www.biocartis.com. Follow us on Twitter: @Biocartis_.