AMOEBA (EPA:AMEBA) - 2017 half-year results in line with the Group’s expectations

Transparency directive : regulatory news

21/09/2017 17:45

PRESS RELEASE

2017 half-year results in line with the Group's expectations

Lyon, September 21st, 2017 - after the market close - AMOEBA (FR0011051598 -
AMEBA), producer of a biological biocide capable of eliminating waterborne
bacterial risk and wound care applications, announced today its 2017 half-year
results.

The Board of Directors closed the company's consolidated accounts for the 1st
half of 2017 at their meeting held on September 21st, 2017.

The statutory auditors conducted a limited audit of the consolidated
half-yearly financial statements on June 30th, 2017 and have not identified any
significant discrepancies likely to call into question the compliance thereof.
They proceeded to the report's signature.

The half-yearly report is currently being issued and will be available on the
company's website (www.amoeba-biocide.com) in the coming days.

(In KEUR)                            30/06/2017     30/06/2016

Turnover                                     75             60
Industrialisation costs                    (314)          (456)
R&D costs                                (1,401)        (1,022)
Subsidies                                   278            290
Marketing & Sales                          (473)          (454)
General costs                            (1,309)        (1,090)
Operational balance                      (3,144)        (2,672)
Financial balance                           (96)           (16)
Net balance                              (3,240)        (2,688)

Half-year results in line with the Group's expectations

The operational balance on June 30th, 2017 was EUR-3,240 K, in line with the
company's forecast.

The analysis of these results indicates:

- A turnover of EUR75K on June 30th, 2017 mainly made up of the half-yearly
  licence fee paid by AQUAPROX, amounting to EUR60 K and the invoicing of
  industrial R&D tests in Europe for EUR15 K.

- An increase in research and development costs primarily related to the MA
  application in Europe and industrial tests in Canada as well as patent fees.

- An increase in general costs reflecting the size of the Group in order to
  start the industrialization and marketing phase.

- The financial result mainly represents interest fees paid on bank loans
  (EUR50 K) partially compensated by financial income on term deposit accounts.

The half yearly net balance is therefore EUR-3,240 K.

On June 30th, 2017, the Company's shareholders' equity amounted to EUR15.4
million, compared to EUR21.8 million on June 30th, 2016. Cash flow is EUR8.6
million.

First half of the year oriented on business development and the continuation of
research and development studies

During the 1st half of 2017, the Company signed 4 new Letters of Intent in
Italy, Romania and in the USA prior to entering into a definitive distribution
agreement, subject to pending marketing authorizations required in these
different territories.

AMOEBA also signed 2 definitive distribution agreements in the Netherlands and
in the USA for the distribution of its BIOMEBA product, pending marketing
authorization required in these different territories.

The Company has extended its portfolio of patents in China. It has also
obtained the issue in France of a new patent on the biological process against
the pathogenic microorganism Naegleria Fowleri.

Finally, the Company continued its industrial field tests in Canada and in
Europe and finalized research programs within the framework of its regulatory
dossier on European marketing authorization.

Recent developments and perspectives

AMOEBA has continued to expand its commercial network with the signature of a
new Letter of Intent with MOMAR Inc prior to entering into a definitive
distribution agreement and upon pending the marketing authorisation in the
United States.

The Company also signed a definitive distribution agreement with DREWO, subject
to pending marketing authorization in Italy.

The company informed about the European working group held on its regulatory
dossier (ref: press release of September 11th, 2017).

About AMOEBA:

AMOEBA group's objective is to become the global leader in eliminating
waterborne bacterial risk in water treatment and wound care applications. Our
solutions represent alternatives to chemical products widely used in the
cooling water treatment and the wound care market. In a global market for
chemical biocides estimated to be worth EUR 21 bn(1) AMOEBA is focusing on the
industrial cooling tower application estimated at EUR 1.7 bn(2). Similarly, in
a global wound care market estimated at EUR 15.2bn(3), AMOEBA is targeting the
chronic wound care market in the USA, estimated to be worth EUR 751 million(4).
The use of Willaertia magna C2c Maky in health care products will be subject to
FDA (Food and Drug Administration) clearance in the USA. AMOEBA's biological
biocide for water treatment, BIOMEBA, has not yet been granted marketing
authorization in the USA, Europe and Canada. AMOEBA is taking the required
regulatory steps to be granted marketing authorization in those regions for the
use of BIOMEBA in cooling water systems. Based in Chassieu (Lyon, France),
AMOEBA is quoted on compartment C of the Euronext Paris stock exchange and
joined the CAC(r) Small index on 21st September 2015. More information on
www.amoeba-biocide.com.

(1) marketsandmarkets.com, "Wound Care Market by Product, Wound Type, End User
- Global Forecast to 2021," 2016.
(2): Amoéba data combined from the following sources: DRIRE 2013, Eurostat,
ARHIA 2013
(3) M. Diligence, "Wound Management: An $18.5 billion+ worldwide market in
2021," MedMarket Diligence, 10 June 2013. [Online]. Available:
http://blog.mediligence.com/2013/06/10/
wound-management-an-18-5-billion-worldwide-market-in-2021/.
[Accessed 14 February 2017].
(4) BCC Research, "Markets for Advanced Wound Management Technologies,"
Wellesley, MA, 2017.

Contacts:

AMOEBA
Nathalie COMBROUSSE
Marketing Communication Manager
Tel. : +33 (0)4 81 09 18 15
nathalie.combrousse@amoeba-biocide.com

ACTIFIN
Ghislaine GASPARETTO
Financial Communication
Tel. : +33 (0)1 56 88 11 11
ggasparetto@actifin.fr

source : webdisclosure.com

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