Theraclion

Half year results 2019

Regulatory News:

THERACLION (Paris:ALTHE) (ISIN: FR0010120402; Ticker: ALTHE, eligible for the PEA-PME equity investment plan), an innovative company specializing in the development of medical equipment for echotherapy, notably for varicose veins, today announces its half year 2019 results ended 30 June 2019 and updates on major developments since the beginning of the year.

Highlights of the first half of 2019:

Theraclion reached important milestones in the deployment of its strategy for the development of a varicose vein treatment solution, while continuing commercial success in its historical markets (thyroid nodules and breast fibroadenomas).

In April, Theraclion obtained the CE mark for its SONOVEIN varicose vein treatment solution, enabling commercialization in Europe. In May Theraclion signed the first commercial agreement with a leading clinic in the United Kingdom, the Whiteley Clinic. The Whiteley Clinic immediately initiated commercial veins treatments.

In addition, Theraclion has sold four Echopulse treatment solutions in Germany, for the treatment of thyroid nodules and breast fibroadenomas. Extended reimbursement for echotherapy care for these two conditions is now broadly available in Germany, Europe’s most populous country with over 80 million inhabitants.

As a reminder, in February, Theraclion set up a € 4.8m financing that could be raised to a maximum of € 11.8m. The purpose of this funding is to give Theraclion the means to implement its strategy: develop a varicose vein treatment solution and demonstrate its commercial relevance, whilst simultaneously drive commercialization of its Echopulse treatment solutions further. The first tranche of € 4.8 million was exercised on the date of the signing of the agreement.

Outlook

Theraclion is continuing its work with a view to achieving the three operational objectives that the company has for varicose veins treatment: to reinforce the effectiveness of SONOVEIN varicose veins treatment, to attract the support of opinion leaders (KOL) - mainly in Germany and in the US - and finalize the adaptation of technology to SONOVEIN. At the same time Theraclion maintain its effort to drive sales for its Echopulse treatment solutions.

The company confirms its objective of accelerating its growth momentum in the second half of 2019, with expected sales growth between 30% and 50% overall over 2019.

Results of Theraclion SA in the first half of 2019

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