Press news Biocartis Group NV

BIOCARTIS MEETS 2020 KEY OBJECTIVES

PRESS RELEASE: REGULATED INFORMATION
11 January 2021, 07:00 CET

BIOCARTIS MEETS 2020 KEY OBJECTIVES

Mechelen, Belgium, 11 January 2021 - Biocartis Group NV (the ‘Company’ or ‘Biocartis’), an innovative molecular diagnostics company (Euronext Brussels: BCART), today announces to have met its 2020 key business objectives which were focused on three performance indicators: the installed base expansion of its rapid and easy-to-use Idylla molecular diagnostics platform, the growth of its Idylla cartridge volume and its year-end cash position.

Based on non-audited numbers, Biocartis today reports:

• Installed base – Biocartis placed 335 new Idylla instruments in 2020, exceeding the latest guidance of 300 new instrument placements. Biocartis’ installed base as per 31 December 2020 increased to 1,581 Idylla instruments¹.
• Cartridge volume – In 2020, Biocartis grew its commercial cartridge volume by 31%, slightly ahead of the latest guidance of 30%. In oncology, year-on-year growth both in Europe and in the US was largely offset by the distributor² markets, but strong demand for the Idylla SARS-CoV-2 Test³ complemented overall volumes totaling 230k cartridges.
• Cash position – As per 31 December 2020, Biocartis’ cash⁴ position amounted to EUR 124m (non-audited number) versus the latest guidance of EUR 120m.

Herman Verrelst, Chief Executive Officer of Biocartis, commented: "I am very pleased to announce that we achieved our initial 2020 outlook, despite the pandemic that severely disrupted and deprioritized cancer care globally. Patient access to hospitals was again significantly restricted in Q4 2020, causing test volumes to decrease across all regions. Nevertheless, we stayed on track and delivered on our pre-pandemic expectations thanks to the versatility of Idylla and its new pandemic test menu. The past year has clearly demonstrated the need for rapid response testing in an overburdened healthcare system, and we saw that we are very well equipped to deliver on our customers’ needs in oncology as well as in infectious diseases. We made significant operational progress throughout 2020 on our path towards profitable growth. Therefore, we look ahead with confidence and start 2021 with a better than expected cash position that we plan to put at work to accelerate test menu expansion and diversification in a year that will again be marked by continued impact of the pandemic.”