CELLECTIS SA Publishes Its Financial Results For 2009
12 Mar 2010
Gene TherapyCollaborateFinancial StatementAcquisitionLicense out/in
Paris, March 12, 2010 – Cellectis (Alternext: ALCLS), the French genome
engineering specialist, today published its consolidated financial results according
to International Financial Reporting Standards (IFRS) for the year ending
December 31, 2009.
Key financial figures:
- Total operating revenues increased by 14% between 2008 and 2009 from
€10.6 million to €12.1 million. This was driven by several major deals
(Limagrain, Monsanto, Bayer Healthcare and BASF Plant Science) and
progress with existing partners. In 2008, revenues had been driven
primarily by a single contract (over €7 million from Regeneron
Pharmaceuticals), which represented nearly 70% of total operating
revenues.
- Total operating expenses rose by 48% between 2008 and 2009, up from
€14.0 million to €20.8 million. This was due to increased investment in the
company’s therapeutic programs in general and preclinical activities in
particular.
- Operating activities consumed €4.9 million in cash in 2009, compared with a
cash increase of €1.4 million in 2008. However, Cellectis strengthened its
overall, year-on-year cash position by €16.9 million, up from €28.7 million at
the end of 2008 to €45.6 million at the end of 2009 (mainly as a result of a
successful capital increase in October 2009).
Commenting on the results, Cellectis Chief Financial Officer Marc Le Bozec said:
"2009 was a banner year for Cellectis, as we continued to transform the company
from a research hub founded 10 years ago to an organization fully committed to
maximizing the value of its technology. We have laid important groundwork for
growth and we plan to build on these foundations in the year ahead. We will
achieve this by increasing our presence in the research tools market, securing
recognition of our strong intellectual property via the signature of additional
commercial agreements, growing our plant sciences subsidiary and advancing the
development of meganucleases for therapeutic applications. Our strategy is to
remain focused on the applications which have the greatest potential for
shareholder value creation."
Highlights for 2009:
- Production capacity: Significantly increased meganuclease production
capacity, with ninety-six highly specific meganucleases produced for given
genomic targets (compared with twelve in 2008). By constantly improving
its engineering processes, Cellectis significantly raised both the quality and
activity standards of its engineered products.
- Cellectis bioresearch: Launched five new kits for use in research and
production and acquired a commercial license to Celonic’s Cemax®
technology for accelerating product development and portfolio expansion.
Additionally, a new collaboration was signed with tebu-bio for the
distribution of Cellectis bioresearch’s targeted integration kits throughout
Europe, a deal which is expected to further expand the technology's user
network.
- Agrobiotechnology: Completed three major deals, the most significant
being a non-exclusive research and commercial license agreement with
Monsanto, which included an upfront payment and an equity investment as
well as milestone payments and royalties in the longer term.
- Therapeutic applications: Generated strong animal safety data supporting
proof of concept for therapeutic applications of meganucleases. Results
showing the potential of engineered meganucleases in drug discovery and
gene therapy were published in major peer-reviewed scientific journals.
? Licensing and intellectual property: Initiated over twenty licensing
discussions in Japan, Europe and USA. Reinforced the company's
intellectual property estate with the filing of fifteen new patent applications,
the grant of four patents and the acquisition of the Vectocell® technology
and its nine new patent families.
Cellectis will today hold a conference call and webcast, in English, to discuss its
financial results for 2009 (5.00 pm CET; 4.00 pm GMT; 11.00 am EST)
About Cellectis
Cellectis is a pioneer in the field of genome engineering. The company designs and markets
innovative tools -meganucleases. These molecular scissors enable targeted modifications to DNA,
with applications in the research, biomanufacturing, agrobiotechnology and therapeutic sectors.
To date, Cellectis has formed over 20 academic research partnerships and has established more
than 50 agreements with pharmaceutical laboratories, seed producers and biotech companies
across the world. The company holds exclusive rights to a portfolio of over 260 patents granted or
pending.
Since 2007, Cellectis has been listed on the NYSE-Euronext Alternext market (code : ALCLS) in
Paris and has secured over €70 million in funding since inception.
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