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Correction: Interim report January – June 2021

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Correction: Correction of the previously disclosed press release since the information is regarded as insider information. The MAR-label has therefore been added to attachment of the press release.

(Oslo, 20 August 2021) Genetic Analysis AS (“GA” or “the Company”) hereby publishes the interim report for the period January 1 – June 30, 2021. The interim report is available as an attached file to this release and on the Company’s website. Below is a summary of the report.

Genetic Analysis CEO Ronny Hermansen comments:

“GA accomplished essential milestones during the period by being granted patents in US, Japan, India and the EU. In June, we successfully completed the next generation of the GA-map® Dysbiosis Test with a CE mark. The next generation includes a built-in bacteria functionality reporting algorithm that will further reduce run-time for the lab. We expanded our distribution network with Eagle Bioscience in the US and reached a significant agreement with a lab chain in Germany to sell the GA-map® platform installation package.

Finally – GA, together with the Norwegian University of Life Sciences, is developing the world’s first complete database of reference genomes, HumGut, a collection of about 30,000 genomes, covering the broad diversity of bacterial genomes found in the human gut. Mapping and unlocking the genes present in a healthy gut is instrumental for developing new diagnostics and better treatment regimes. We will actively use this powerful search engine and database to identify novel gut signatures which we can plug onto our GA map® technology platform to develop new innovative diagnostic markers within the microbiome field.”

 

January – June 2021

  • Sales revenue amounted to NOK 2,3 million (NOK 2,9 million)
  • Operating income amounted to NOK 3,4 million (NOK 3,4 million)
  • Operating expenses amounted to NOK 18,5 million (NOK 13,3 million)
  • Profit/loss before taxes amounted to NOK -15,1 million (NOK -9,9 million)
  • Profit/loss for the period amounted to NOK -15,1 million (NOK -9,9 million)
  • Total assets amounted to NOK 43,9 million (NOK 54,5 million)
  • Earnings per share amounted to NOK -0,88 (NOK -0,67)
 

Highlights during H1 2021

  • Expanded the distribution network in the US by establishing a new distribution model and appointed Eagle Biosciences as a new distributor in the US market.

  • Significant break-through in the German market. Signed agreement with lab chain to sell a GA-map® platform installation package that will be installed in H2 2021.
  • The Norwegian Research Council granted GA up to NOK 16 million for our research and development project within the field of Inflammatory Bowel Disease (IBD).
  • Three project applications for the SkatteFUNN research grants scheme were approved in Q2 2021.
  • GA became member of the Microbiome Therapeutics Innovation Group (MTIG), a coalition of leading companies to research and develop FDA approved microbiome therapeutics and microbiome-based products.
  • GA-map® Dysbiosis Test version 2 was completed with a CE mark in June 2021 and will be available for launch in H2 2021. The test is further optimized, including a built-in bacteria functionality reporting algorithm and reduction in run-time for the lab.
  • GA continued to strengthen the intellectual property position and secured essential patents protecting the use of the GA technology in the US, Japan, India and the EU during H1 2021.

Highlights after the period

  • GA announced that the Company co-develops HumGut together with the Norwegian University of Life Sciences. HumGut comprises about 30,000 genomes, covering the broad diversity of bacterial genomes found in the human gut.

 

This information is such information that Genetic Aanalysis AS is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the care of the above contact person, for publication on 20 August 2021.

For further information, please contact:

Ronny Hermansen, CEO
E-mail: rh@genetic-analysis.com

About Genetic Analysis 

Genetic Analysis AS (GA) is a science-based diagnostic company and pioneer in the human microbiome field with more than 10 years of expertise in research and product development.  The unique GA-map® platform is based on a pre-targeted multiplex approach specialized for simultaneous analysis of a large number of bacteria in one reaction. The test results are generated by utilizing the clinically validated cutting edge GA-map® software algorithm. This enables immediate results without the need of further bioinformatics work. GA’s vision is to become the leading company for standardized gut microbiota testing worldwide, and GA is committed to help unlocking and restoring the human microbiome through its state-of-the-art technology. GA holds 22 highly qualified employees with relevant scientific backgrounds and with competence in bioinformatics, molecular biology, and bioengineering. www.genetic-analysis.com

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Interim report Genetic Analysis AS H1 2021

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GA accomplished essential milestones during the period by being granted patents in US, Japan, India and the EU. In June, we successfully completed the next generation of the GA-map® Dysbiosis Test with a CE mark. The next generation includes a built-in bacteria functionality reporting algorithm that will further reduce run-time for the lab. We expanded our distribution network with Eagle Bioscience in the US and reached a significant agreement with a lab chain in Germany to sell the GA-map® platform installation package. Finally – GA, together with the Norwegian University of Life Sciences, is developing the world’s first complete database of reference genomes, HumGut, a collection of about 30,000 genomes, covering the broad diversity of bacterial genomes found in the human gut. Mapping and unlocking the genes present in a healthy gut is instrumental for developing new diagnostics and better treatment regimes. We will actively use this powerful search engine and database to identify novel gut signatures which we can plug onto our GA map® technology platform to develop new innovative diagnostic markers within the microbiome field.
Ronny Hermansen, CEO