Lyon (France) – January 31, 2022 – 6:00 p.m. – genOway (Euronext GrowthTM – ALGEN – ISIN: FR0004053510)a company specializing in the design and development of preclinical research models, announces consolidated revenue of €14.0 million for the 2021 financial year (ended December 31, 2021), representing annual organic growth of 27% compared to 2020.
As announced when the half-year results were published, on 2n/a half of 2021 was part of a comparable growth dynamic, still driven by strong development of Catalog Models, which have become the 1time company line of business in 2021.
| In €m – Unaudited data | 2021 | 2020 | Variation |
|---|---|---|---|
| Custom Models | 6.8 | 5.6 | +21% |
| Models Catalog | 7.1 | 4.8 | +47% |
| Licenses | 0.1 | 0.6 | -82% |
| Turnover | 14.0 | 11.0 | +27% |
The growth momentum of the Catalog portfolio was confirmed in 2021, driven by immuno-oncology models, with organic growth of +47%, after +33% in 2020 and +24% in 2019.
The Catalog activity now represents more than 50% of genOway’s turnover, whereas the latter was still marginal four years ago.
Alexandre Fraichard, CEO of genOway, says: “Despite a market environment complicated by the pandemic, the year 2021 marks a new success for genOway with a total exclusively organic growth of 27%, and an increase in our Catalog Models of almost 50%. This performance is perfectly in line with our five-year plan targets for revenue of €30 million by 2024.
Our Catalog products are enjoying growing success. Overall, our service and product offerings are today the most efficient on the market to better mimic humans and their disease and thus contribute to prevention and cure. The very good news is that this unique added value is increasingly recognized by the industry. The year 2022 therefore promises to be, once again, an excellent year for genOway. »
Benjamin Bruneau, CFO of genOway, adds: “The growth of our Catalog activity is now firmly on track, with now nearly 21 models available and more than thirty at the end of 2022. At the same time, the historical activity of creation of Bespoke models is showing solid growth of 21% , taking advantage of cross synergies with the Catalog activity. Only the License sales activity remains down for the moment this year. The signing in December 2021 of a major agreement with the English national research funding agency should make it possible to bring more visibility to this asset and accelerate its valuation.
Our order book for the first months of the year on the Catalog part is up by nearly 60%. All the lights are therefore green to continue to deliver sustained growth allowing us to achieve our strategic objectives by 2024.”
Next release : 2021 annual results, March 28, 2022, after Euronext market close.
About genOway
genOway (EURONEXT GROWTHTM Paris ; ISIN: FR0004053510) designs and develops preclinical research models, from cells or rodents, for laboratories in the pharmaceutical industry, biotechnology companies and university research. Based on a unique technological platform, made up of exclusive worldwide licenses (homologous recombination, CRISPR/Cas9), genOway is able to offer its customers innovative research models to study the effects of a gene or a therapeutic drug on a “humanized” organism.
These innovative research models support researchers from world leaders in the pharmaceutical industry (BMS, Janssen, Novartis, Pfizer, etc.), biotechnology companies (80 client companies over the last 5 years) or the most prestigious research laboratories academic, in France or in the United States (Institut Pasteur, Harvard University, Inserm, Stanford University, Broad Institute, etc.)
Since its creation, the company has developed more than 2,500 research models for the pharmaceutical industry, contributing to the development of numerous treatments and therapeutic drugs.
genOway operates mainly in the United States (60%) and in 18 countries in Europe and Asia.
| Investor contacts genOway Benjamin Bruneau [email protected] | Financial communication Finance & communication news Mathieu Omnes – Investors Tel: 01 53 67 36 92 – [email protected] | Press relations Finance & communication news Serena Boni – Press Tel: 04 72 18 04 92 – [email protected] |
Elements contained in this communication may contain forward-looking information involving risks and uncertainties. The Company’s actual achievements may differ materially from those anticipated in this information due to risk factors associated with the Company. www.genoway.com.
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