Plant Advanced Technologies PAT: 2020 Revenue
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- Annual revenue up 7% to €1.26 million (vs. €1.17 million in 2019)
- A very promising partnership with Clariant
- Expansion of production capacity for rare molecules through Cellengo, a newly created subsidiary
- New collaboration agreements under development.
- Revenue growth expected for 2021
VANDŒUVRE-LÈS-NANCY, France--(BUSINESS WIRE)-- Regulatory News:
Plant Advanced Technologies PAT (Paris: ALPAT):
** 2020 revenue is not consolidated and concerns solely the parent company, PAT SA as such, this presentation excludes the revenue of its subsidiaries StratiCELL, Temisis, Cellengo, PAT Zerbaz and Couleurs de Plantes.
PAT (Plant Advanced Technologies) reported revenue for fiscal 2020 of €1,256,000, up marginally 7% in relation to 2019, driven notably by increased intra-group subcontracting and stability in asset sales, despite the health crisis.
2020 BUSINESS UPDATE
- The first products originating from the Clariant partnership, Prenylium™ and Rootness™ Energize, were launched in 2020 and received numerous international awards.
Creation of Cellengo, a PAT subsidiary, producing rare molecules through industrial fermentation technologies.
Its objective is to scale up manufacturing capacity for biomolecules to become a leading player in the cosmetics, nutraceutical, pharmaceutical and plant protection markets.
Clariant is appointed as a new director
Following the decision of the General Meeting of June 30, 2020, Plant Advanced Technologies PAT has reinforced its governance by appointing Clariant to the Board of Directors, represented by Ms. Catherine Breffa.
Launch of PsoriaCure, the European program for the treatment of psoriasis
The objective of this three-year program is to discover the mechanism of action of the proprietary first-in-class compound TEM1657 developed by Temisis for the treatment of psoriasis. The PsoriaCure consortium also includes StratiCELL, PAT’s Belgian subsidiary, a key life sciences partner dedicated to understanding skin biology and pioneering discoveries in dermo-cosmetic products, the German company PharmBioTec, specialized in the development of pre-clinical stage drug candidates, and the University of Lorraine IMoPA-CNRS research laboratory, specialized in inflammatory signaling networks.
TEMISIS increases its capital
SFHBB (La Société Financière Hoche Bains-les-Bains) and PAT (Plant Advanced Technologies) finalized the €1.6 million capital increase in Temisis, with a pre-money valuation of €40 million. Following the completion of this transaction, PAT now holds 98.46% of Temisis ’s capital and SFHBB, 1.54%. The proceeds of this capital increase will provide Temisis with the resources to complete the preclinical studies to ensure the development of the TEM1657 anti-psoriasis drug candidate.
As a reminder, the financing needs for the phase 1 clinical trial of this molecule are estimated between €8 million and €10 million to be financed through future subscriptions.
2020 was marked by the COVID-19 pandemic. In this unprecedented context, all PAT customers remained loyal and certain projects delayed during this period are expected to be back on track in 2021. On that basis, the Group remains confident about meeting its growth targets.
It also reaffirms its continuing commitment to its roadmap for:
- Maintaining efforts to contain costs and preserve cash;
- Deploying its marketing strategy focused on adopting a product catalog and indirect distribution.
- Continuing internal research and collaborative efforts to prepare for the launch of new products
In the nutraceutical market, the subsidiary Cellengo, which is spearheading the development of the fermentation technology-based production platform for rare molecules, will continue to develop its first product and for which, a strategic partnership for its development, marketing and distribution is currently under discussion.
Finally, concerning the work on SARS-CoV-2, tests are currently underway for several active components. PAT (Plant Advanced Technologies) is investigating the research of original antiviral molecules, complementary to the current vaccination strategies.
Before May 1, 2021
May 12, 2021
Before June 30, 2021
About PAT www.plantadvanced.com
Plant Advanced Technologies (PAT) is specialized in the identification, optimization and production of rare new active plant compounds or cosmetics, pharmaceutical, nutraceutical and fine chemicals markets. PAT possesses unique plant-based expertise with a portfolio of worldwide patents (PAT Target Binding® and Plant Milking®)
Plant Advanced Technologies is listed on Euronext Growth™- Paris
ISIN : FR0010785790 - Ticker: ALPAT
Reuters ALPAT.PA - Bloomberg : ALPAT : FP
PAT – Investor Relations - Louis-Nicolas Vallas - Secretary-General -[email protected]
FIN’EXTENSO – Media Relations - Isabelle Aprile - +33 6 17 38 61 78 - [email protected]
Source: Plant Advanced Technologies PAT
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