Theraclion results show strong recovery, enabling ambitious plans

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MALAKOFF, France – (COMMERCIAL THREAD) – Regulatory news:

THERACLION (ISIN: FR0010120402; Mnemo: ALTHE), an innovative company developing an evolving robotic platform for non-invasive echotherapy treatment including varicose veins, today announces its annual results for the first 6 months of the year ended June 30, 2021 with a full recovery of the COVID period and ambitious development plans in Europe and the United States.

SONOVEIN®, the cornerstone of Theraclion’s future in Europe and the United States

The technological developments of Theraclion’s varicose veins platform, SONOVEIN® and the solid relationships built with the main European opinion leaders are at the basis of the company’s recovery in 2021. SONOVEIN S should gradually become the reference treatment for patients suffering from pain. chronic venous insufficiency, taking a significant share of a $ 10 billion market.

This expansion is accelerated with the recent FDA approval of the first US clinical trial using SONOVEIN. In addition, the University of Virginia Cancer Center is investigating breast cancer.

Theraclion’s ambition is to become the first scalable robotic platform in its class for non-invasive echotherapy.

Revenue at June 30, 2021 quadrupled compared to 2020

Theraclion SA achieved a turnover of 885 K € in 2021, an increase of 430% compared to the first half of 2020. Total operating costs increased by 25% until 2020 mainly thanks to the recovery of sales. Controlling operating expenses while quadrupling revenue reduced the net loss by 13% compared to the first half of 2020 to € -1,631,000.

In K €

2021/06/30

2020/06/30

Var. %

Sales

885

167

+ 430%

Subsidies

203

-3

n / A

Other income

12

0

n / A

Total income

1100

163

+ 575%

Costs of goods sold

481

-139

N / A

Purchases

996

918

+ 8%

Employee compensation

1,255

1394

-ten%

Other operating costs

107

101

+ 6%

Total operating costs

2,839

2 274

+ 25%

Operating result

(1,739)

(2 111)

-18%

Financial results

(185)

(190)

-3%

Non-current results

(1)

(ten)

-90%

Research tax credit

294

438

-33%

Net results

(1,631)

(1,872)

-13%

Average workforce (FTE)

25

25

0%

Accounts closed by the Board of Directors on September 21, 2021. The audit procedures for the half-year 2021 accounts have been carried out. The certification report will be issued after verification of the management report.

Cash flow outlook until Q2 2022

In K €

2021/06/30

2020/06/30

Var.

Cash

5 286

2,033

3,253

Medium-term cash flow

31

31

0

Total cash and cash equivalents

5,317

2,064

3,253

Bank loans

-2 888

-1 397

-1491

Convertible debt

– 184

-424

240

Total debt

– 3,072

– 1,821

-1 251

Net cash

2 245

243

2,002

Theraclion received cash advances from Oseo for an amount of € 6,527,000 including capitalized interest. Its return on investment is based on milestones that should not be achieved in the next five years. Consequently, the advance is not recognized as a financial debt.

Available cash was € 5.3 million as of June 30, 2021. In the first half of 2021, the company received € 1.5 million in PGE loans from BPI France and CIC and up to € 3.2 million from its shareholders, including the execution of part of Tranche 3 of financing agreements concluded in 2019. Taking into account a conservative estimate of system sales, growth in varicose vein treatments with the deployment of SONOVEIN S and other financing, Theraclion estimates that it will be able to meet its cash flow needs over the next 12 months.

About Theraclion

At Theraclion, we believe that surgery, as we know, is outdated. It turns optimistic patients into anxious individuals, brilliant physicians into exhausted system executors, and expands health systems to the limit of financial and human costs. For us, this is insufficient, unnecessary and archaic and we have shaken up this convention by creating platforms for extracorporeal care. We replace surgery with robotic treatment from the outside using High Intensity Focused Ultrasound (HIFU). Our state-of-the-art echotherapy platforms are currently CE marked in the non-invasive treatment of varicose veins with SONOVEIN® and breast fibroadenomas and thyroid nodules with Echopulse®.

Located in Malakoff, near Paris, our 30 employees experience and breathe innovation through extensive clinical research and use artificial intelligence. The varicose vein treatment market alone requires around 5 million treatments per year: A dynamic market in which we are changing the paradigm by making non-invasive echotherapy the new standard.

For more information, please visit the Theraclion website: www.theraclion.com and the patient website: https://echotherapie.com/echotherapy/

Theraclion is listed on Euronext Growth Paris

Eligible for PEA-PME

Mnemonic: ALTHE – ISIN code: FR0010120402

LEI: 9695007X7HA7A1GCYD29


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