Theraclion Announces Its Half-year Financial Results for 2023 and Provides an Update on the Execution of Its Strategy

Regulatory News:

THERACLION (ISIN: FR0010120402; Mnemo: ALTHE) (Paris:ALTHE), an innovative company developing a robotic platform for non-invasive ultrasound therapy, presents its half-year financial results for 2023 and provides an update on the execution of its strategy.

In the first half of 2023, Theraclion appointed its new Chief Executive Officer Martin Deterre, signed a strategic partnership agreement with Furui and secured the necessary financing for the next 18 months. Theraclion has reached important milestones in its 3-pronged strategy focused on the treatment of varicose veins:

• On access to the US market: a successful feasibility study and authorization from the FDA to launch a pivotal study, which will be conducted in four centers recognized for their scientific excellence in the United States and Europe. The first treatments are expected in the coming weeks.
• On access to the Chinese market: the signing of an agreement with its historic and industrial partner Furui at the end of May has accelerated access to the market. Furui invested €6 million in June's €8.4 million capital increase. This investment will be supplemented by a further €1 million if Theraclion achieves its operational targets. Furui and Theraclion are also joining forces to conquer the Chinese market. Theraclion will license its technologies and the use of its trademarks to Theraclion China for a fee of €3 million, which will be paid based on the achievement of project milestones. Based on the current execution of the partnership, payments totaling €2.5 million in the form of license fees or capital increases could be expected within the next 6 months.
• On the pursuit of technological and robotic innovations: successive improvements are regularly made to the product and will continue to be made over the next few years, particularly in acoustics, robotics, and artificial intelligence. Combining its real-time imaging and robotics capabilities, AI algorithms will automate more and more tasks, speeding up the procedure and drastically simplifying interactions between the doctor and SONOVEIN. Close partnerships with a dozen reference centers in Europe are continuing, helping to accelerate the development of this technology and treatment protocols.

Martin Deterre, Chief Executive Officer, commented: "Theraclion's efforts remain focused on its clearly defined strategy: the pivotal study for access to the US market, development in China and transformative advances in R&D, while controlling expenses. Progress made and to be made on this roadmap should contribute to a significant appreciation in valuation.”