Regulatory News:

THERACLION (Paris:ALTHE) (ISIN: FR0010120402; Mnemo: ALTHE), an innovative company developing a scalable robotic platform for non-invasive ultrasound therapy, today released its 2021 results. Theraclion continues its new growth momentum for 2022, focusing on the development of its technology to launch the next generation SONOVEIN®.

The development teams are working on the next generation of the SONOVEIN® robotic platform. It will integrate the collection and analysis of technical and intraoperative data. Ultimately, SONOVEIN® will become a universal non-invasive AI-assisted treatment, with no learning curve for the physician and optimal quality of care for all patients.

The recent appointment of Yann Duchesne as Executive Chairman of the Board marks a new chapter in governance, setting the company up for success in its major strategic shift to focus on technology performance and clinical benefits to access the USA veins markets. In Europe, the focus will be on standardize treatment protocols among the current KOLs to pave the way for dynamic growth.

Yann Duchesne’s vision is to grow Theraclion in 3 major therapeutical areas in 3 geographies: Varicose veins, in the USA (seeking FDA clearance) and in Europe; Thyroid, in Europe and in China; Breast cancer, mostly in the USA. In order to achieve these ambitious goals, Theraclion is identifying global strategic partners. The company will focus mostly on critical technical and clinical milestones, talent motivation and retention. Yann Duchesne’s ambition is to bring Theraclion amongst the world leaders treatment device with robotics & artificial intelligence.

Despite a clear upturn in activity, results are still impacted by the Covid-19

In K€









1 481












Other revenues







Total revenues


1 711




+ 131%

Costs of goods sold






+ 58%



(2 417)


(1 956)


+ 24%

Employees compensation


(3 145)


(2 304)


+ 37%

Other operating costs






- 53%

Total operating costs


(6 244)


(5 029)



Operating profit


(4 535)


(4 288)


+ 6%

Financial results






- 59%

Non Current results







Research tax credit






+ 22%

Net Results


(3 760)


(3 905)


- 4%








Average headcount (FTE)







Theraclion SA has achieved a turnover of €1,481K in 2021, an increase of 99% compared to 2020. 5 systems were sold in 2021 versus 1 in 2020. It is adopting a sustained investment policy while keeping its expenses under strict control to execute its development strategy. Cash needs are covered for the next 12 months

Theraclion continues to develop its technology while keeping its expenses under tight control, resulting in an increase in operating expenses of €1 million compared to a particularly lean 2020. In 2020, total operating costs had decreased by 37% compared to 2019, mainly due to the abandonment of variable compensation and the implementation of furlough during the first covid containment when premises were closed.

In total, the company maintains its sustained investment policy with total R&D costs standing at €3.8m (compared to €2.1m in 2020); this aggregate is strongly impacted by the increase in payroll due to the non-renewal of Covid measures such as furlough, with more than 80% of the workforce dedicated to it.

The financial result is a loss of 136 K€ for the year, mainly due to currency exchange losses and interest on the government back loans (PGEs) concluded to face the consequences of Covid19.

The research tax credit amounted to 883 K€ at the end of December 2021 compared to 722 K€ due to the increase in research expenses.

The control of operating costs, which varies in line with the increase in revenues, results in a net loss of €3,760K, down 4% compared to 2020.

In K€









2 462


2 314



Medium term cash position







Total Cash & Cash Equivalent


2 493


2 345



Bank Loans


-2 750


-1 400


-1 350

Convertible debt


- 184


- 2 684


+2 500

Total debt


- 2 934


- 4 084


+1 150

Net Cash position


- 441


- 1 739


+1 298

Theraclion received cash advances from Oseo for an amount of €6 290K including capitalized interests. Its payback is based on milestones which should not be achieved in the next five years. Consequently the advance is not accounted for as a financial debt.

Theraclion's cash position is €2.5 million at December 31, 2021. Investors converted the whole €2.7 million of convertible debts recorded end of 2020, they exercised warrants attached to the 3rd tranche for €0.5 million and subscribed to convertible bonds for €2.7 million, out of which the converted €2.5 million. In addition, Theraclion received two additional PGEs during the first half of 2021 for a total of €1.5 million.

On March 1st, 2022, Theraclion completed a capital increase of €6.5 million, including issue premium, which should allow Theraclion to meet its cash flow needs for the next 12 months.

About Theraclion

At Theraclion we believe that surgery, as we know it, is outdated. It converts optimistic patients into anxious individuals, brilliant doctors into exhausted system executors and stretches healthcare systems to the limit. We have disrupted this convention by creating extracorporeal treatment platforms. We replace surgery with a robotic treatment from outside the body using High Intensity Focussed Ultrasound (HIFU). Our leading edge echotherapy platforms are currently CE marked in non-invasive treatment of varicose veins with SONOVEIN® and of breast fibroadenomas and thyroid nodules with Echopulse®.

Located in Malakoff, near Paris, our employees live and breath innovation by extensive clinical research and harness artificial intelligence. The market of varicose veins treatment alone requires around 5 million procedures annually. It is a dynamic market in which we change paradigms by making non-invasive echotherapy the new standard.

For more information, please visit and our patient website

Theraclion is listed on Euronext Growth Paris Eligible for the PEA-PME scheme Mnemonic: ALTHE - ISIN code: FR0010120402 LEI: 9695007X7HA7A1GCYD29

Contacts Theraclion David Auregan Chief Operating Officer Anja Kleber VP Marketing, Market Access & Sales Francophonia

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