HYBRIGENICS: UPDATE ON THE SITUATION OF THE ATON GROUP (HYBRIGENICS SA) – 11/17/2023 at 6:30 p.m.

Illkirch, November 17, 2023 – 6:00 p.m.

The Aton Group

(Hybrigenics SA – Euronext Growth Paris – FR0004153930 – ALHYG),

specialized in the medical sciences sector, announces the review of its financial objectives, particularly due to an unfavorable economic context and difficulties which are hampering the development of its subsidiaries.

The Aton Group, as a holding company, has no operational activity but holds a debt of €4.9 million on its subsidiary STEMCIS and a debt of €2 million towards its shareholder DMS Group. During 2023, the Aton Group has initiated several discussions with investment funds to raise funds to finance the acceleration of the development of its subsidiaries. The group has received several letters of intent, some of which are currently under discussion. However, the completion of these investments remains uncertain and does not currently allow the acceleration of the development of the subsidiaries.

After a careful assessment of current economic conditions and the difficulties encountered, the group considers it reasonable to shift its financial objectives. The ambitious objective of €60 million in turnover by 2025 has therefore been postponed to a later financial year. In 2024, the Aton Group aims to record growth in its activity, however less sustained than the expected level and which should not allow the achievement of operational balance due to the maintenance of a certain number of investments in the within the subsidiaries.

STEMCIS, a historic subsidiary wholly owned by the group, is currently seeing its turnover decline sharply, following delays in the supply of raw materials and the global slowdown in so-called comfort surgical operations. As of June 30, 2023, STEMCIS’ financial debt stood at €5.1 million, including €4.9 million in partner current account for the benefit of the Aton Group.

INOVIEM SCIENTIFIC, 47% owned by the group, also saw its activity significantly slowed down by a difficult start to the year for its customers. The company, which carries out outsourced research on behalf of players in the pharmaceutical and biotechnology industry, has suffered the withdrawal of investment funds from financing the development of drug candidates. This cascading effect has impacted the company’s activity, which should record a turnover of around €750,000 in 2023 (compared to €840,000 in 2022). However, the order book currently stands at €1.5 million, which allows us to project significant growth for the year 2024.

Léone ATAYI, General Director,

states: ”

We are aware of the challenges facing us. Faced with a difficult economic context, the continuity of our activity is an absolute priority, and we are doing everything we can to preserve the group’s assets. We work diligently to identify innovative and sustainable solutions. I would like to assure our shareholders, our employees, our customers and our partners that every decision will be made with a considered approach, taking into account the impact on all stakeholders.”

About ATON


ATON is a medical science group committed to the future of medicine, with the goal of improving patient care and the safety and effectiveness of treatments. ATON guides and develops a portfolio of cutting-edge companies, each with its specialty, working in synergy to advance the treatments of tomorrow.

ATON is the trade name under which Hybrigenics SA operates.

More information on www.aton-group.com.

Hybrigenics

is listed on the Euronext Growth market of Euronext Paris

ISIN: FR0004153930 – Memo: ALHYG – PEA-SME eligible

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