FERMENTALG : Q3 2014 Financial information

information fournie par Actusnews •13/11/2014 à 19:20

Libourne – 13 November 2014 – Fermentalg, an industrial biotechnology company that specializes in the production of oils and proteins derived from microalgae, has published its financial information for the third quarter of 2014. Highlights for the period include:

• the issue of the building permit for Fermentalg's future Industrial Development Unit (IDU) which is no longer subject to appeal;
• the renegotiation of Fermentalg's partnership with Sofiprotéol that targets the Omega-3 market, opening up new avenues in terms of business development;
• the enhancement of the company's technological base following the granting of Fermentalg's first active ingredient patent and the appointment of a new VP R&D.

Entry into the industrial era
Fermentalg has obtained the building permit for a new Industrial Development Unit (IDU) at its site in Libourne (33). Preparatory work has begun, and the unit is scheduled to be commissioned at the end of 2015.

Acceleration of Business Development
Fermentalg's future entry into the industrial production of microalgae made possible by the funds raised during its IPO has given the company the means to reinforce its business development policy.

On 10 July, Fermentalg and Sofiprotéol also announced a new agreement in their partnership for the production and sale of Omega-3. Several covenants were signed, notably whereby the programme's industrial processes and resources will henceforth be managed by Fermentalg at the IDU. Oleon (a subsidiary of Sofiprotéol) will act as non-exclusive distributor for the products manufactured by Fermentalg within the IDU.

Revenue generated by partnerships
Financial contributions by Fermentalg's partners amounted to €225,000 for the third quarter of 2014 versus €0 for the same period in 2013. Revenues for the first 9 months of the year came in at €675,000 as against €0 for the first 9 months of 2013.

At 30 September 2014, Fermentalg's gross cash position amounted to €41.9 million, and the Group's financial resources are fully in line with its business development strategy.

Reinforcement of barriers-to-entry
The third quarter of 2014 saw Fermentalg reinforce its barriers-to-entry in the field of microalgae. The company was awarded its first active ingredient patent to protect its state-of-the-art technology (breeding of microalgae in a predominantly heterotrophic mixotrophic environment), adding yet another building block to the Group's extensive portfolio of intellectual rights which included 25 families of patents on 30 September 2014.

In order to maintain its technological head start, Fermentalg has also strengthened its team of scientists with the appointment of Dr. Hywel Griffiths (PhD) to the position of VP R&D. With a degree and PhD in molecular microbiology from the University of Cambridge, Hywel Griffiths is a world-renowned specialist in microalgae. In 2013, he was named "Young Biotechnologist of the Year" at the NZBIO annual awards ceremony.

About Fermentalg
Founded in 2009 by Pierre Calleja, Fermentalg is an industrial biotechnology company that specializes in producing sustainable oils and proteins derived from the exceptional properties of microalgae. Its patented technology allows it to target a range of fast-growing global markets, from nutrition and animal feed to cosmetics and health, green chemistry and energy. Fermentalg has already signed its 1 ^st industrial and commercial joint-venture for the production of Omega-3 oils rich in EPA and DHA as well as several other partnerships with leading industrial groups. Fermentalg shares are listed on Euronext in Paris (FR0011271600 - FALG). For more information, visit the Fermentalg website at: www.fermentalg.com.