BIOCORP

Strong Increase in Half-year Results as of June 30th, 2019 - Seite 2

• Mallya enters the life cycle management phase to develop its technological platform,
• Exclusive negotiations with SANOFI for the integration of Mallya into SANOFI's diabetes care platform,
• Initiation of new research projects in the field of pre-filled syringes,
• Filing of 3 new patent families, obtaining the granting of 4 patents on countries such as Australia, Canada and Europe. Three other patents have entered the national phase,
• 2019 Grand Prize for Growth Companies in the Health, Pharma, Biotech & Medtech category.

Half-year results as of June 30, 2019

The half-yearly results confirm the relevance of the innovation and industrialization strategy implemented in recent years. This first half of the year has seen the concrete results of the development efforts made, both in France and internationally. The signatures of 3 major partnerships with AgaMatrix, DreaMed Diabetes and, of course, Sanofi, were signed during the first half of the year. This underlines BIOCORP's current positioning as a world leader in the field of connected devices.

- Revenues for the first half of the year amounted to €5,248k, an increase of more than 167% compared to the first half of 2018, thanks in particular to the recognition of €4m relating to the partnership signed with Sanofi. Other operating income rose to €66k (compared with €186k in the first half of 2018), mainly due to the change in inventories.

- Operating expenses for the first half of the year were down 10% year-on-year to €4,115k, mainly due to the decline in "subcontracting" and "salaries and charges".

- Taking these factors into account, operating income for the first half of 2019 was €1,199k, compared with €2,804k for the first six months of 2018.

- The financial result shows a loss of (-59 K€) compared to (-95 K€) a year earlier, due to the reversal of the provision on treasury shares.

- Exceptional income was positive at €6.6k in the first half of the year, compared with €3k in the first half of 2018.

- In terms of taxation, BIOCORP estimates that it has acquired a Research Tax Credit (CIR) and an Innovation Tax Credit (CII) of €166k as of 30 June 2019, representing half of the amount acquired in 2018. In June 30, 2018, the amount of the CIR and CII was estimated at €186k.

- As of June 30^th, 2019, a receivable of €74,000 related to corporate income tax was recognized.

- Taking into account the above items, net income for the six months finishing June 30^th, 2019 was €1,238k, compared with a net loss of €2,709k for the first half of 2018.