YEAR-END REPORT JANUARY-DECEMBER 2011
2011 in brief
- Net sales climbed to SEK 2,856k (1,596k)
- Revenues from the protein portfolio increased by 160%
- Loss after financial items was SEK 13,758k (loss: 11,334k)
- Comprehensive income for the year was SEK -13,608k (-11,292k)
- Earnings per share SEK -0.20 (-0.33)
- Cash and cash equivalents at the end of the period totaled SEK 7,563k (4,074k)
In February, Genovis acquired an exclusive license for a new technology that uses so-called upconverting nanoparticles as contrast agents in optical biomedical imaging. Genovis acquired the license from Lumito, a LUAB company, including an option to acquire the technology in its entirety.
In April, Genovis launched the FragIT™ Kit, a scalable and efficient technology for producing antibody fragments with extremely high yield and short process time. The product is a further development of Genovis’ unique technology and targets customers in pharmaceutical, biotech and diagnostics companies that develop antibody-based drugs and analyses.
Revenues improved during all four quarters compared with the same period last year and showed an increase on a rolling twelve month basis of between 80 and 100% over the year compared with 2010, which is a higher growth rate than the company had achieved between 2010 and 2009. Major pharmaceutical companies and several of the leading biotechnology companies that develop drugs based on antibody molecules became Genovis customers during the year. Several of these companies have published scientific papers demonstrating the benefits of Genovis products or in which Genovis products had a decisive role in the development process.
During the spring Genovis completed a rights issue that was subscribed at over 90% and raised about SEK 18m before issue expenses.
Events after the end of the period
The first scientific article from the Sentinel Node project has been published in the Journal of Nuclear Medicine, a highly ranked journal in its field and a forum for the exchange of clinical and scientific information for nuclear medicine practitioners.
The Board of Directors of Genovis has decided to hold the Annual General Meeting earlier on March 20, 2012. On February 21 the notice convening the AGM will appear in Post och Inrikes Tidningar and an ad will be published in Dagens Industri.
The Interim Report for January-March, which would have been announced on April 26, was postponed, and the new publication date is May 22. The Interim Report for January-June, which was to be announced on August 23, was postponed and the new publication date for the report is September 6.
For more information, please contact: Sarah Fredriksson, CEO, Genovis AB Tel: 4646 -101235 sarah.fredriksson@genovis.com
ABOUT GENOVIS
Genovis develops and sells innovative technologies from two unique product portfolios. The first includes enzymes that facilitate development and quality control for applications such as antibody-based drugs. The products launched to date are aimed at customers who work with development of drugs, new diagnostic methods and basic research.
The second consists of nanotechnology in new contrast agents and focuses on design, production and characterization of nanostructures as contrast agents in medical imaging. The nanostructures and methods that Genovis focuses on can also be used as carriers of various substances in the development of new drug delivery methods. The projects are mainly in-house, but also include collaborations with research groups, including at Lund University.
Genovis shares are listed on the First North OMX Nordic Exchange and Thenberg fondkommission is our certified advisor.
