First quarterly sales results following start of full-scale production and launch of new smartphone-based Gen3 System
Regulatory News:
Cellnovo Group ("Cellnovo" or the "Company" CLNV:EN Paris) (Paris:CLNV), a medical technology company marketing the first connected diabetes management platform based on a locked-down AndroidTM smartphone communicating via Bluetooth with a small, discreet micro-pump, today publishes its sales for the first nine months and third quarter ended September 30, 2018.
Jan. Sept. 9 months | Quarterly 3 months | |||||||
(In €) | 2018 | 2017 | Q3 2018 | Q3 2017 | ||||
Sales | 1,519,291 | 689,533 | 665,094 | 218,408 |
During the third quarter of the year, sales totalled €665,094 compared with €218,408 for the third quarter of 2017. Over the first nine months of 2018, Cellnovo generated sales of €1,519,291 compared with €689,533, over the same period in 2017. Cellnovo sold 172 new systems in Q3 2018 compared to 38 in Q3 2017, bringing the total number of systems sold since launch to 1159.
Sophie Baratte, Chief Executive Officer of Cellnovo, commented: "Two pivotal events this summer are advancing our commercial activities: The initiation of full-scale production of insulin cartridges in June, and the roll-out of our new Gen 3 System in September. This latest version of the Cellnovo System is based on a Bluetooth-enabled locked-down Android smartphone and its enhanced performance and improved user experience have been very well received by the type 1 diabetes community. We are confident that our Gen 3 System brings real value to patients and healthcare providers in a market experiencing rapid growth, and will enable us to drive strong sales performance."
As of September 30, 2018, Cellnovo had a net cash position of €4.9 million. A €20 million financing agreement was signed with Kreos Capital in July 2018. A first €10 million tranche has been drawn down and used to repay a previous €5 million loan from Kreos.
About Cellnovo (Euronext: CLNV)
Cellnovo Group is global innovative medical technology company supporting the needs and desires of people with type 1 diabetes. Cellnovo has developed and markets a novel diabetes management system, which is a connected platform that aims to make life easier for people with type 1 diabetes. Cellnovo's insulin delivery system comprises a locked-down Android TM smartphone that communicates via Bluetooth with a discreet, wearable micro-pump. This unique system allows optimal management of insulin dosing and delivery while ensuring freedom of movement and peace of mind. Thanks to the transmission of data in real time, the patient's status can be seamlessly monitored by family members and healthcare professionals. Cellnovo is currently participating in several major Artificial Pancreas projects with TypeZero, PEPPER and Diabeloop, to develop fully automated, closed-loop insulin delivery systems.
For more information go to www.cellnovo.com
Cellnovo is listed on Euronext, Compartment C ISIN: FR0012633360 Ticker: CLNV) |
View source version on businesswire.com: https://www.businesswire.com/news/home/20181011005551/en/
Contacts:
Cellnovo
Chief Executive Officer
Sophie Baratte
investors@cellnovo.com
or
NewCap
Investor Relations
Tristan Roquet Montégon, 33 1 44 71 00 16
cellnovo@newcap.eu
or
NewCap
Media Relations in France
Nicolas Merigeau, 33 1 44 71 94 98
cellnovo@newcap.eu