- Continued sustained growth associated with the company’s sequencing platform in Évry and long-term contracts
- Strong revenue growth linked with microbiology sequencing
Evry, France, Wednesday July 13th 2022, 7.30am – IntegraGen (FR0010908723 – ALINT ), an OncoDNA Group company specializing in the decryption of the human genome which performs interpretable genomic analyzes for academic and private laboratories and develops diagnostic tools for oncology, today announced its non-audited revenue of 6,439 k€ for the first half of 2022, representing an increase of 34% compared to H1 2021. This sales growth across all of the company’s businesses reflects the strong rebound of the general economic business climate compared to H1 2021 which was significantly impacted by the global pandemic.
R&D sequencing activities have resumed the pre-pandemic growth trend and were fueled by several significant projects realized on the company’s sequencing platform in Évry. The growth was primarily a result of the strong demand for projects that were initiated in Q2 2021. The sequencing platform also benefited from a pandemic-related microbiology project during H1 which resulted from site specific sequencing capacity limitations experienced by one of the company’s partners, representing c. 7% of the company’s revenue in H1. In parallel with the above, sequencing activities associated with external platforms operated by IntegraGen continued to experience increased output with new clinical research projects for oncology also driving revenue growth.
The company’s cash position as of end of June 2022 was 4,489 k€, a decrease of 0.3 M€ compared to December 31, 2021. This was in line with the company’s expectations and 2022 budget. This decrease was primarily due to change in working capital requirement. This position includes a State guaranteed loan (Prêt Garanti par l’État, PGE) totaling 1,763 k€, received at the beginning of 2020, that the Company started to reimburse in June.
Despite a temporary slowdown in the booking orders as of end of June, the company confirms its growth perspectives based on the current sales dynamics and existing long-term contracts along with the synergies now in place with the other entities of the OncoDNA Group.
Bernard Courtieu, IntegraGen CEO, said “The revenue generated during the first half of 2022 confirms the resilience of IntegraGen’s business across each and every line of the company’s business. The company is now well-positioned for the future with rebound in the growth of our business seen in 2022 demonstrating our growth potential. The company’s business remains driven by long term contracts for the operation of external sequencing platforms with additional benefits derived from solid commercial dynamics, including the synergies we are now experiencing as a result of being fully integrated into the OncoDNA Group.”
Full financial results for H1 2022 will be published on October 18, 2022.
IntegraGen is an OncoDNA group company specializing in the genomics of cancer and rare genetic diseases. Backed by highly competent and qualified teams, IntegraGen is a leading player in DNA sequencing services and genomic data interpretation software. The company runs one of the largest NGS labs in France and operates for research institutes of excellence. As part of OncoDNA group, IntegraGen leverages the power of next generation sequencing with the mission of delivering the promise of precision medicine to patients. IntegraGen has about 50 employees and generated €10,8 million of turnover in 2021. Based in France, IntegraGen is part of the Belgian OncoDNA group present in Spain, UK, Germany and works with an international network of 35 distributors. The Group also provides biomarker testing and clinical interpretation tools to guide treatment and monitoring of latestage solid tumors and accelerate the development of new cancer drugs.
IntegraGen is listed on Euronext Growth in Paris (ISIN: FR0010908723 – Mnemo: ALINT – Eligible PEA- PME).