SpineGuard Reports 2019 Revenue of 6.8 M€ - Seite 2

UNAUDITED FINANCIAL FORECAST

SpineGuard estimates its EBITDA to be positive in the second semester of 2019 (vs. -0.1 M€ in H2 2018) and to have significantly improved in the full year to reach -50K€ to be compared to -586K€ in 2018.

The American subsidiary SpineGuard Inc. would deliver a net positive result for the second full year in a row.

The cash position at December 31 2019 is 1.3 M€. The company did not use the total convertible bond equity line financing (OCAPI) of which 0.7 M€ is available.

At the date of this press release, the company continues its discussions for the rescheduling of its venture debt with Norgine Ventures and Harbert European Capital Growth. At December 31 2019, the principal left due is 4M€ vs. 4,5M€ initially.

These preliminary results are unaudited and based on the first estimates by company’s management at December 31, 2019. They are consequently subject to modifications. SpineGuard will communicate on its annual results on March 19, 2020 after market close.

2020 PERSPECTIVES

For 2020 SpineGuard is working on several opportunities in order to generate growth and solidify its strategic turn.

Its new generation of PediGuard products equipped with DSG Connect, which adds a tablet interface with signal visualization and recording, should obtain European regulatory clearance in Q1 2020 subsequent to CE mark filing in late September 2019. The US FDA clearance, ongoing as well, should follow later in 2020.

Commercial efforts should yield positive results in certain high-potential countries where the company was successful in the past: in Brazil, the re-registration of products consecutive to a distributor change will allow for a restart of the business. In the Middle East, a multi annual tender should convert into orders. Turkey could receive a reimbursement decision that would accelerate sales with the addition of the public sector.

The collaboration with our industry partner Adin Dental/ ConfiDent on the dental application will intensify in 2020 with the co-development of a next generation DSG embedded product, fruit of the feedback on the first generation tested in 2019.

Lastly, the search for strategic alliances with industry players notably for the robotic application continues with the venture bank Healthios Capital Markets, marks of interest have been received.

About SpineGuard

Founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard is an innovative company deploying its proprietary radiation-free real time sensing technology DSG (Dynamic Surgical Guidance) to secure and streamline the placement of implants in the skeleton. SpineGuard designs, develops and markets medical devices that have been used in over 75,000 surgical procedures worldwide. Fifteen studies published in peer-reviewed scientific journals have demonstrated the multiple benefits DSG offers to patients, surgeons, surgical staff and hospitals. Building on these solid fundamentals and several strategic partnerships, SpineGuard has expanded its technology platform in a disruptive innovation: the « smart » pedicle screw launched late 2017 and is broadening the scope of applications in dental implantology and surgical robotics. DSG was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer.