BIOCORP: Full-Year 2020 Financial Results and Outlook for 2021
- Business activity maintained with a very slight increase in
revenues to nearly €8.5 million
- Sustained growth investments and net income in loss of €1.24
- Cash position strengthened to €4.9 million
- Continuation of the partnership strategy at high levels
- Strong outlook with full-scale commercial launch of Mallya
BIOCORP (Paris:ALCOR) (FR0012788065 – ALCOR / Eligible PEA PME),
a French company specialized in the design, development and
manufacturing of innovative medical devices, today announces its
annual results for the year ended on December 31, 2020, as approved
by the Board of directors on April 6th.
“2020 was an extraordinary year in the purest sense of the word.
The crisis related to COVID has caused the Company to fear that its
projects may slow down. Fortunately, although they were delayed for
a few months, its development contracts were not called into
question. Similarly, there have been no delays or cancellations in
the manufacture and marketing of our medical devices. In the end,
and thanks to the strong mobilization of all BIOCORP teams, our
production activity will have been stopped only 3.5 days over the
whole year 2020. Thus, on the industrial level, BIOCORP signed last
year a host of technological and commercial partnerships allowing
Mallya, a true showcase of our expertise, to prepare under the best
conditions for its commercialization wherever diabetes goes to
register a strong progression. More than ever, BIOCORP is the ideal
partner for pharmaceutical companies looking for breakthrough
innovations for the benefit of patients. Finally, on the financial
front, strict adherence to our objectives and growth strategy has
enabled the Company to welcome new European shareholders. The
capital increase completed at the end of 2020 with qualified
investors provides BIOCORP with strengthened means to meet its
major ambitions in the field of digital health" said Éric
Dessertenne, CEO of BIOCORP.
Key financial data on 12/31/2020:
Other operating income
Total operating income
8 456 365
8 476 937
8 447 741
9 271 476
External purchase and expenses
Taxes, duties and other levies
Wages and expenses
Other operating expenses
Total operating expenses
4 040 766
4 442 016
10 082 263
3 528 210
3 513 552
8 396 459
Net operating income
(1 605 325)
Net financial income
Research Tax Credit and Innovation Tax
(1 242 570)
Closing cash position
4 971 939
2 006 847
- Revenues reached €8,456K in 2020, a very slight increase
compared to 2019 (€8,447K). Note the postponement to 2021 of two
milestones initially planned for 2020 for an amount of €2,250
- In 2020, other operating income amounted to €20.5K compared to
€823K in 2019. This strong variation is mainly explained by the
significant amount of the construction work in progress at the end
- Operating expenses reached €10,082K, up 20.1% compared to 2019.
This increase is mainly due to higher purchases of raw materials,
subcontracting, fees and payroll.
- As a result of these factors, the operating result for 2020 was
a loss of €1,605,000, compared with a profit of €875,000 for
- The financial result for 2020, which showed a net amount of
(€155K) compared to (€158K) in 2019, was mainly the result of
interest on the bond loans.
- The Exceptional Result for the year amounts to 267 K€ against
81.5 K€ at 31/12/2019.
- BIOCORP benefited from CIR (“Crédit Impôt Recherche”) and CII
(“Crédit Impôt Innovation”) for a total amount of 251.5 K€.
- Taking into account all these elements, BIOCORP shows a net
loss of (€1,242K) against a profit of €960K in 2019.
- Following the completion of a €4.2 million private placement in
November 2020 with qualified investors and the obtaining of State
Guaranteed Loans (« Prêt Garanti par l’Etat ») for an amount of
€2.1 million, BIOCORP shows a strong increase in its cash position.
As of December 31, 2020, this amounted to €4,972,000, compared with
€2,007,000 a year earlier.
- Strengthening of the partnership with SANOFI around Mallya
smart sensors: payment of a new upfront of €5.25 million with an
additional €9.25 million spread over the collaboration period.
- Marketing partnership on Mallya with the American iSage RX in
the field of the digitalization of diabetes.
- Signature of a partnership with Laboratoires Théa for the
development of innovative digital solutions in the field of
- Distribution agreement for Mallya technology with Roche
Diabetes Care France.
- Signature of a partnership with the Belgian group AARDEX for
the development of smart solutions for Precision Medical
- First commercial launch of Mallya in Romania and South
- Successful capital increase through a private placement to
qualified investors for an amount of €4.2 million.
- Signature of two technological partnerships integrating Mallya
with the digital applications developed by SocialDiabetes and
Heath2Sync deployed respectively in Spain, Mexico, Colombia and
Chile, and in Taiwan, Hong Kong, Japan, Malaysia, Singapore, the
United States and Australia: opening up of new high-growth markets
bringing together over 850,000 users.
- Co-development agreement with French company Diabeloop to
integrate its automated delivery solutions into Mallya in
personalized diabetes management.
Outlooks for 2021:
According to Eric Dessertenne: “2020 revealed our ability to
pursue our internationalization strategy through the signing of
numerous alliances with leading companies, notably for the
deployment of Mallya. While we are preparing its large-scale
commercial launch, we are at the same time developing new connected
solutions for markets other than diabetes and are counting on the
signature of a new structuring agreement with a major
pharmaceutical group very soon. 2021 promises to be particularly
exciting for all our teams and, we hope, very exciting for our
ABOUT BIOCORP Recognized for its expertise in the development
and manufacture of medical devices and delivery systems, BIOCORP
has today acquired a leading position in the connected medical
device market thanks to Mallya. This smart sensor for insulin
injection pens allows reliable monitoring of injected doses and
thus offers better compliance in the treatment of patients with
diabetes. Available for sale from 2020, Mallya spearheads BIOCORP's
product portfolio of innovative connected solutions. The company
has 70 employees. BIOCORP is listed on Euronext since July 2015
(FR0012788065 – ALCOR). For more information, please visit
version on businesswire.com: https://www.businesswire.com/news/home/20210407005499/en/
CONTACTS BIOCORP Jacques Gardette Chairman of the Board
Éric Dessertenne Chief Executive Officer
Sylvaine Dessard Marketing & Communication Director
email@example.com + 33 (0)6 88 69 72 85
CONTACTS ULYSSE COMMUNICATION Bruno ARABIAN
firstname.lastname@example.org +33 (0)6 87 88 46 26
Nicolas DANIELS email@example.com +33 (0)6 63 66