Theraclion Executes Strategy in First Half
01 8월 2023 - 1:30AM
Business Wire
Regulatory News:
THERACLION (ISIN: FR0010120402; Mnemo: ALTHE), an innovative
company developing a scalable robotic platform for non-invasive
ultrasound therapy, presents its review of the first half of
2023, marked by the achievement of milestones in the deployment of
its strategy and the growth of its sales.
Roadmap implementation
In the first half of 2023, Theraclion appointed its new CEO,
Martin Deterre, signed a partnership with Furui and secured the
necessary funding for the next two years. Theraclion has reached
important milestones in the 3 axes of its strategy focused on the
treatment of varicose veins:
- Access to the U.S. market: the success of its feasibility study
and the FDA's authorization to launch the pivotal multicenter
study;
- Access to the Chinese market: the signing in late May of a
partnership agreement with Furui to accelerate market access;
- On technological and robotic innovation: significant progress
on system development, notably with a view to adding artificial
intelligence.
US pivotal study to be launched by the end of the
year
Earlier this year, Theraclion announced the success of its U.S.
feasibility study, with final results showing a 100% feasibility
rate - the trial's primary endpoint - and suppression of venous
reflux in 95% of cases. Accelerating its path to the U.S. market,
Theraclion recently obtained FDA approval for the launch of the
pivotal multi-center study, which will be conducted at four centers
recognized for their scientific excellence in the U.S. and Europe.
The principal investigator, Steven Elias, MD, Director of the
Center for Vein Disease at a prestigious hospital in New Jersey, is
a member of the American Board of Venous and Lymphatic Medicine and
the American College of Surgeons.
A strategic partnership with Furui to access the Chinese
market
A Theraclion SA shareholder since 2016 and co-shareholder of
Theraclion China, Furui invested €6 million in the June capital
increase of €8.4 million. Its investment will be topped up by a
further 1 million euros subject to Theraclion achieving operational
targets. Furui and Theraclion also join forces to conquer the
Chinese market. Theraclion will license its technologies and the
use of its trademarks to Theraclion China, for a 3 million euros
fee, to be paid on achievement of milestones.
R&D is the pillar of value creation
Successive improvements will be made to the system over the next
few years, notably in robotics and artificial intelligence.
Combining its real-time imaging and robotics capabilities, AI
algorithms will automate certain tasks, speed up the procedure, and
drastically simplify interactions between the doctor and
SONOVEIN®.
Partnerships with a dozen reference centers in Europe are
continuing, contributing to the accelerated advancement of the
technology.
First-half 2023 sales up 183%
Theraclion SA reported sales of €981 K for the first half of
2023, an increase of 183% compared with the first half of 2022.
Theraclion is also maintaining strict control over its
expenses.
System sales, at €597 K, were up 469%. Theraclion sold a
latest-generation device to the University of Virginia as part of a
clinical trial on breast cancer research. Approved by the FDA, this
pilot study aims to evaluate the combined effects of high-intensity
focused ultrasound (HIFU) and low-dose chemotherapy on the immune
response in patients with early-stage breast cancer.
Additional revenues on previous sales were also recorded.
Sales of consumables rose by 65%, driven by a doubling of sales
in the varicose vein indication. Theraclion has chosen to make
SONOVEIN® available to reference centers for the development of
treatment protocols. These centers have the option of using
SONOVEIN® in their commercial practice, which generates revenue for
Theraclion.
In summary, Martin Deterre, Chief Executive Officer of
Theraclion, said, "Theraclion is intensifying its efforts on its
clearly defined strategy: focusing its forces on the U.S. clinical
study, building its partnership with Furui in China, and deploying
transformative technological improvements for physicians and
patients."
Sales /K€
S1 2023
S1 2022
Variation
System sales
597
105
+469%
Consumable sales
314
190
+65%
Service sales
69
52
+33%
Theraclion SA Sales
981
347
+183%
Including veins
435
135
+222%
Including breast and thyroid
546
212
+157%
About Theraclion
Theraclion is a French MedTech company committed to developing a
non-invasive alternative to surgery through the innovative use of
focused ultrasound.
High Intensity Focused Ultrasound (HIFU) does not require
incisions nor an operating room, leaves no scars, and allows
patients an immediate return to their daily activities.
Echotherapy, as the HIFU treatment method is called, concentrates
therapeutic ultrasounds to an internal focal point from outside of
the body.
Theraclion has developed two CE-marked robotic platforms
delivering echotherapy: SONOVEIN® for varicose veins and ECHOPULSE®
for breast fibroadenoma and thyroid nodules. Each representing the
potential to replace millions of surgical procedures every
year.
Based in Malakoff (Paris), the Theraclion team is made up of 30
people, mainly in technological and clinical development.
For more information, please visit
www.theraclion.com or www.echotherapy.com
and follow the account on LinkedIn.
Theraclion is listed on Euronext Growth Paris Eligible for the
PEA-PME scheme Mnemonic: ALTHE - ISIN code: FR0010120402 LEI:
9695007X7HA7A1GCYD29
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Theraclion contact
Martin Deterre Chief Executive Officer
contact@theraclion.com
Theraclion (EU:ALTHE)
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Theraclion (EU:ALTHE)
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