At its meeting on April 29, 2022, the Board of Directors of
Hybrigenics SA (Euronext Growth Paris – FR0004153930 – ALHYG)
approved the parent company financial statements for the 2021 financial year (ended December 31, 2021), summarized below. The figures mentioned in this press release are taken from the annual financial statements, in accordance with French accounting standards. The 2021 annual report is available on the company’s website, www.hybrigenics.com.
Annual results
Corporate accounts data in €m | 2020 |
2021 |
Turnover | -0.1 |
0.0 |
Operating result | -0.3 |
-0.1 |
Net profit | -0.3 |
-0.1 |
Hybrigenics SA has a holding activity, centered on the management of its Stemcis and Adip’Sculpt subsidiaries and the maintenance of the patent portfolio linked to historical research activities. Hybrigenics SA and its subsidiaries form the DMS Biotech division, which supports the DMS Group’s development strategy in the field of biotechnologies and particularly technologies for the treatment of osteoarthritis and regenerative medicine based on the injection of adipose stem cells. As of December 31, 2021, DMS Group held 44.75% of the capital of Hybrigenics SA.
The operating loss of Hybrigenics SA was reduced to -0.1 M€ in 2021 compared to -0.3 M€ during the previous financial year, thanks to the cessation of personnel costs (no longer any employees in 2021). Operating expenses consist mainly of fees related to the listing of the company on Euronext Growth, the maintenance of the patent portfolio and various legal fees.
Financial income amounted to €0.4 million, following the sale of Hybrigenics Services securities.
The exceptional result amounts to -0.4 M€, following the liquidation of the American subsidiary Hybrigenics Pharma Inc.
The company’s net loss for the year was limited to -0.1 M€ against -0.3 M€ a year earlier.
Balance sheet position as of December 31, 2021
ASSETS – Corporate financial statement data in M€ – French standards | 31/12 |
31/12 | LIABILITIES – Corporate financial statement data in M€ – French standards | 31/12 |
31/12 | |
Fixed assets | 2.5 |
8.7 | Equity | 4.9 |
9.4 | |
|
of which financial assets |
2.4 |
8.6 | Financial debts | 0.1 |
1.0 | |
Current assets | 4.0 |
3.0 | Related party debts | 1.0 |
2.5 | |
|
of which Group Receivables |
3.8 |
2.8 | Other liabilities | 0.4 |
0.3 | |
Cash available | 0.0 |
1.5 | ||||
|
Total assets |
6.4 |
13.2 |
Total liabilities |
6.4 |
13.2 |
Hybrigenics SA’s balance sheet total fell from €6.4 million as of December 31, 2020 to €13.2 million as of December 31, 2021.
On the assets side, fixed assets increased from €2.5 million as of December 31, 2020 to €8.7 million as of June 30, 2021 under the effect of the entry into the capital of Inoviem Scientific in June 2021, of which Hybrigenics SA holds a 33.3% stake. Hybrigenics SA should eventually hold up to 46.6% of the company by 2023-2024, through the exercise of stock warrants.
Current assets amount to €3.5 million, including €2.8 million in receivables with its subsidiary Stemcis.
Available cash was increased to €1.5 million of available cash, improved by the issue of new shares under the financing line.
On the liabilities side, corporate equity amounted to €9.4 million at December 31, 2021, compared to €4.9 million at the end of 2020, also under the effect of the issue of new shares under the funding.
Hybrigenics SA presents in its balance sheet a financial debt of €1.0 million relating to the investment operation in the company Inoviem Scientific, and a debt with related parties (DMS Group) of €2.5 million. Trade payables are limited to €0.2 million.
Outlook
Hybrigenics SA announced in early 2022 the CE marking and the launch of the marketing of its new medical device, Macrofill vacuum, the first clinical uses of which confirm the technological progress made.
This innovative and patented single-use medical device significantly reduces the time it takes to collect large quantities of fat cells and provides the patient with more than 90% engraftment and a major reduction in inflammation.
The turnover of the Stemcis and Adip’Sculpt subsidiaries grew by +44% in 1
er
quarter, driven by the first sales of the new device.
With regard to Inoviem Scientific (equity-accounted company), new research contracts were acquired by the company during the 1
er
trimester. In addition, B Cell Design, acquired by Inoviem Scientific at the end of 2021, is accelerating its growth by positioning itself in the diagnostics market. The antibodies developed by B Cell Design allow market players to follow the evolution of the sector, which is migrating from the classic serum kit to kits containing more sensitive and therefore more reliable synthetic antibodies. This development, initiated by the Chinese market which has banned serum kits on its territory, is gaining the American and European markets. B Cell Design’s technology makes it possible to develop diagnostic kits for a wide variety of conditions such as gluten allergies, viral diseases and certain cancers such as colorectal cancer and HPV papillomavirus.
About Hybrigenics
Hybrigenics is a listed biopharmaceutical company (ALHYG) in Paris on the Euronext Growth market of Euronext, eligible for the PEA-PME.
Hybrigenics and its subsidiaries make up the DMS Biotech division, which supports the development strategy of DMS Group (Euronext Paris – FR0012202497 – DGM) in the field of biotechnology, oncology, regenerative medicine and anti-aging medicine. It specializes in the development of innovative technical solutions using adipose tissue cells, and particularly stem cells.
More information at www.hybrigenics.com.
Hybrigenics
is listed on the Euronext Growth market of Euronext Paris – ISIN: FR0004153930 – Ticker: ALHYG – PEA-PME eligible
Hybrigenics
Leone ATAYI
Executive Director
[email protected]
09 71 04 32 63
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