On January 12, 2021 Eligible PEA PME), a company specializing in decryption of the human genome which performs interpretable genomic analyses for academic and private laboratories, reported its unaudited sales revenue for 2020 (Press release, Integragen, JAN 12, 2021, View Source [SID1234574001]). 2020 revenue amounted to €9.0 million, a 10% increase compared to €8.1 million on a likefor-like basis with 2019 results.

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The company experienced sales growth in almost all of the service lines with strong growth particularly associated to the partnership with the Groupement Coopératif de Santé (GCS) SeqOIA. The services provided by the Evry laboratory also improved despite the context of the COVID-19 health crisis which has added complexities to the services provided on the Evry site. Finally, the microbiology sequencing platform operated for the Institut Pasteur, whose contract was renewed at the start of 2020, also experienced sales growth. Revenue associated with the company’s software tools accelerated during the second half of the year achieving 37% growth compared to the prior year with over 1,600 bioinformatic analyses performed during 2020.

The company’s cash position as of 31 December 2020 was €5.0 million compared to €2.8 million1 at the end of 2019. The company benefited from obtaining a French State Guaranteed Loan (PGE) €1.8 million in May 2020 and has generated positive cash flows for the past 3 semesters.

The friendly takeover bid launched by the Belgian company OncoDNA in September 2020 resulted in the takeover by OncoDNA in November 2020 resulting in a capital of IntegraGen increasing XX.X%. OncoDNA is a Belgian company recognized internationally for precision medicine in oncology. OncoDNA has developed offerings for clinicians that help guide the choice of the treatments for patients with advanced cancers. This merger enables the two companies to become a European leader 1 Before taking debt into account Clinical Genomics Experts 2/2 in the field that operates in more than 100 countries directly or through distributors and employees more than one hundred employees exclusively in the service of genomics and its applications.

OUTLOOK 2021: NEW, DYNAMIC COMMERCIAL OFFERINGS RESULTING FROM THE MERGER WITH OncoDNA Several factors will support the company’s continued commercial momentum during 2021. First, the merger with OncoDNA and associated commercial synergies between the two companies will generate sales in new segments and geographic areas. Additionally, multi-year contracts currently in place will produce increases in order intake for the company’s sequencing services business that will provide additional revenue growth.

Bernard Courtieu, CEO of IntegraGen, commented: "2020 has been an exceptional year for IntegraGen in several ways. Our business activities achieved double-digit growth and the company strengthened its cash position despite the considerable impact of theCOVID-19 health crisis. The successful merger with OncoDNA positions the new group as a European leader in the analysis of the human genome. This is not only beneficial for all stakeholders and partners of the company, but first and foremost patients with cancer who will be offered new solutions resulting from our complete offer which combines both laboratory tests and software tools for oncology."

The company’s complete financial results for 2020 will be published on 15 April 2021 prior to the opening of financial markets.