Reynold Lemkins Drives Cross-Border Deep Tech Investment, Featured Prominently at Asia’s Leading Capital and Innovation Forums

Reynold Lemkins Drives Cross-Border Deep Tech Investment, Featured Prominently at Asia’s Leading Capital and Innovation Forums




Reynold Lemkins Drives Cross-Border Deep Tech Investment, Featured Prominently at Asia’s Leading Capital and Innovation Forums

HONG KONG & MACAU–(BUSINESS WIRE)–#CATL–Reynold Lemkins Group, a global investment firm known for its long-term cross-border capital strategy, made a notable impact this May at two of Asia’s premier events: the Greenwich Economic Forum (GEF) Hong Kong and BEYOND Expo 2025 in Macau.




At GEF Hong Kong, Reynold Lemkins Asia Chief Investment Officer Kris Haoran Liu was invited to speak on a high-level roundtable titled “Family Office Investment Outlook”, moderated by Tae Yoo, Managing Director of Hong Kong Exchanges and Clearing (HKEX). Liu emphasized IPO as not merely an exit but a strategic entry point into long-term value creation, especially in sectors undergoing structural transformation. He also highlighted Hong Kong’s pivotal role as a pricing anchor for global capital.

The forum, which brought together global financial leaders including Nouriel Roubini (Chairman & CEO, Roubini Macro Associates), Kenny Lam (CEO, Two Sigma Asia Pacific), and Jan Boomaars (CEO, Optiver), underscored the rising relevance of Asia—especially Hong Kong—in the evolving landscape of alternative investments, economic realignment, and tech-led growth.

In Macau, at BEYOND Expo 2025—Asia’s largest tech innovation summit—Reynold Lemkins took part as a Legacy Partner, hosting private sessions with deep tech founders, researchers, and institutional LPs. The firm engaged across verticals including AI, advanced manufacturing, robotics, and frontier healthtech, reinforcing its thesis of value-backed, scalable innovation across borders.

“Reynold Lemkins Group demonstrated clear conviction in identifying globally relevant tech solutions, from regulatory-ready biotech platforms to next-gen energy systems and smart infrastructure,” commented a tech investor familiar with the firm’s presence in Macau.

Recent investments reflect this diversified thesis. In addition to health-focused companies like Cloudbreak Pharma and VISEN Pharmaceuticals, the firm has also actively supported high-growth industrial and AI ventures such as Contemporary Amperex Technology (CATL), Sanhua Intelligent Controls, and Unisound, exemplifying its multi-sector strategy across late-stage and semi-public market opportunities.

To learn more, visit www.reynoldlemkins.com, follow Reynold Lemkins on LinkedIn, or explore insights via Medium.

Contacts

Reynold Lemkins Group

reynoldlemkins@reynoldlemkins.com

Reynold Lemkins Group Catalyzes Global Biotech Innovation as Cornerstone Investor in Recent HKEX Listing

Reynold Lemkins Group Catalyzes Global Biotech Innovation as Cornerstone Investor in Recent HKEX Listing




Reynold Lemkins Group Catalyzes Global Biotech Innovation as Cornerstone Investor in Recent HKEX Listing

HONG KONG–(BUSINESS WIRE)–#AI–Reynold Lemkins Group, a leading global investment firm focused on late-stage growth and frontier technologies, announced its significant cornerstone investment in the initial public offering (IPO) of Cloudbreak Pharma (02592.HK) on the Hong Kong Stock Exchange (HKEX). This strategic investment underscores Reynold Lemkins Group’s commitment to backing visionary biotech companies poised to deliver transformative solutions to global challenges.


Cloudbreak Pharma, a clinical-stage ophthalmic biotechnology company, recently completed its HKD 612 million growth-focused IPO. Focused on innovative therapies like CBT-001 for pterygium (in Phase 3 U.S./China trials and potentially the world’s first approved non-surgical treatment), Cloudbreak Pharma will utilize proceeds to fund critical R&D, manufacturing expansion, and commercialization of its lead biologic assets. Reynold Lemkins Group served as a cornerstone investor, committing USD 22.8 million (HKD 179 million) to the offering alongside Wealth Strategy Holding, with collective cornerstone investment totaling approximately USD 45.6 million.

Reynold Lemkins Group’s role as a cornerstone investor in this HKEX listing further solidifies its position as a crucial cross-border capital partner. The firm leverages its deep expertise in navigating complex international markets to connect promising innovation from Asia with global investment, facilitating the growth of companies that are redefining industries worldwide. This strategic focus is underscored by the firm’s consistent track record in the biotech sector, including its prior participation in the successful IPO of VISEN Pharmaceuticals (HKEX: 02561), which similarly attracted strong institutional demand and aligned with Reynold Lemkins’ commitment to regulatory-validated, commercially scalable businesses. This investment exemplifies Reynold Lemkins Group’s strategy of providing patient, strategic capital to ventures at the forefront of technological and medical advancement, ensuring their ability to scale and deliver.

“Cloudbreak Pharma epitomizes Reynold Lemkins Group’s core philosophy: empowering companies that are truly transforming their fields,” said Kris Haoran Liu, President and Chief Investment Officer at Reynold Lemkins Group. “We’re proud to back a biotech pioneer bringing life-changing science to global health. This investment perfectly aligns with our drive to bridge cross-border capital with transformative growth, creating lasting value.”

To learn more, visit www.reynoldlemkins.com, follow us on LinkedIn, or explore our insights on Medium.

Contacts

Reynold Lemkins Group

reynoldlemkins@reynoldlemkins.com

Tenpoint Therapeutics Ltd. to Participate in Upcoming Investor Conferences in August

Tenpoint Therapeutics Ltd. to Participate in Upcoming Investor Conferences in August




Tenpoint Therapeutics Ltd. to Participate in Upcoming Investor Conferences in August

LONDON & SEATTLE–(BUSINESS WIRE)–Tenpoint Therapeutics, Ltd., a global, commercial-ready biotechnology company focused on developing groundbreaking treatments to rejuvenate vision in the aging eye, today announced that the Company will participate in three upcoming investor conferences in August.


  • Oppenheimer & Co.’s 2025 Biotech in the Berkshires is being held on August 4–6 in the Berkshires, MA. Tenpoint Therapeutics’ President and Chief Business Officer Ben Bergo and Melissa Epperly, Chief Financial Officer, will present at 11:15am ET and host 1×1 meetings during the Conference.
  • Canaccord Genuity 45th Annual Growth Conference is being held August 12–13 in Boston, MA. Henric Bjarke, Tenpoint Therapeutics’ Chief Executive Officer, will present at 11:30am ET on August 13, and host 1×1 meetings during the Conference. The live event or replay can be accessed here or through the Tenpoint Therapeutics website.
  • H.C. Wainwright 5th Annual Ophthalmology Conference is being held virtually on August 13. Ben Bergo, Tenpoint Therapeutics’ President and CBO, will present and host virtual meetings throughout the day. A replay of the presentation can be accessed through the Tenpoint Therapeutics website.

To request a meeting with the Tenpoint Therapeutics team, please contact the respective conference representatives or email the Company’s investor relations team at tenpoint@lavoiehealthscience.com.

About Tenpoint Therapeutics

Tenpoint Therapeutics Ltd. is a global, commercial-ready biotechnology company developing groundbreaking treatments to rejuvenate vision in the aging eye. Its lead asset, BRIMOCHOL™ PF, is a novel pupil-modulating, investigational therapeutic designed to correct the loss of near vision associated with presbyopia, a condition that afflicts approximately two billion people globally. Tenpoint has completed two large Phase 3 pivotal trials (BRIO-I and BRIO-II) for BRIMOCHOL™ PF, has filed the NDA and has received a PDUFA date from US FDA of Jan 28, 2026. Its pipeline includes paradigm-shifting treatments for ophthalmic indications with the greatest need and global market potential, including presbyopia, cataracts, and geographic atrophy. A privately held company, Tenpoint Therapeutics is backed by AdBio Partners, AlbionVC, British Business Bank (formerly British Patient Capital), Eight Roads, EQT Life Sciences, F-Prime Capital, Hillhouse Capital Management, Qiming Venture Partners USA, Sofinnova Partners, and Wille AG.

To learn more, visit tenpointtherapeutics.com and connect on LinkedIn.

Contacts

Andrew Korda

LaVoieHealthScience

akorda@lavoiehealthscience.com
617-865-0043

Casey Darby

LaVoieHealthScience

tenpoint@lavoiehealthscience.com
847-964-3281

Nucleus Network Acquires Hammersmith Medicines Research

Nucleus Network Acquires Hammersmith Medicines Research




Nucleus Network Acquires Hammersmith Medicines Research

Establishes First Truly Global Early-Phase Clinical Trial Network

BRISBANE, Australia & LONDON–(BUSINESS WIRE)–Nucleus Network, a global leader in early phase clinical research, today announced the acquisition of Hammersmith Medicines Research (HMR), one of the United Kingdom’s most respected early phase clinical trial organisations. This milestone marks a significant step in Nucleus Network’s global growth, establishing the only early phase provider with dedicated facilities in Australia, the United States, and the United Kingdom.


The acquisition brings together two organisations with a shared mission: advancing medicine and improving lives. It also honours the legacy of Dr Malcolm Boyce, whose leadership established HMR as a centre of excellence in early phase research across the UK and Europe. With complementary scientific expertise and a strong, mutual commitment to participant safety and ethical conduct, the combined organisation is well positioned to accelerate clinical development and deliver inclusive, high-quality studies across three continents.

“We are deeply honoured by the trust Dr Boyce has placed in us to carry forward HMR’s legacy,” said Teena Pisarev, Chief Executive Officer of Nucleus Network. “This acquisition is about more than expanding our global footprint. It reflects a genuine alignment of values, culture, and purpose. Together, we are building a platform that will help redefine the way early phase trials are delivered.”

A New Standard for Early-Phase Clinical Trials

With the acquisition of HMR, Nucleus Network is setting a new global benchmark in the delivery of early-phase clinical trials. Sponsors now benefit from a fully integrated model that combines global reach with deep local expertise. By harnessing the strength of our globally leading and multi-jurisdictional business development team, we will work in close partnership with sponsors to guide trials to the geographic locations that best align with their strategic priorities. Studies can commence in one regulatory environment and seamlessly transition to another, enabled by harmonised processes and consistently high-quality standards, accelerating timelines and reducing operational risk.

The expanded geographic footprint expands access to broader and more diverse volunteer and patient populations. This scale supports faster recruitment and more inclusive study designs, both of which are critical for first-in-human and adaptive trial protocols. HMR’s decades of scientific and operational excellence complement Nucleus Network’s advanced infrastructure and digital capabilities. Together, they bring added precision to study execution and data quality, driving robust outcomes across all sites.

Sponsors will experience more streamlined engagement through unified systems, shared best practices, and coordinated project delivery, simplifying the complexities of early-phase trial execution. This integration further strengthens Nucleus Network’s position as the most experienced global provider dedicated to early-phase clinical research.

At the same time, Nucleus Network will continue to partner with CROs around the world, offering flexible services that complement existing partnerships and extend reach across geographies.

This acquisition expands what’s possible for our sponsors,” Pisarev added. “It deepens our scientific capabilities, strengthens our operational reach, and reinforces our commitment to delivering life-changing therapies to patients around the world.”

Nucleus Network will continue to operate its clinical sites in Brisbane, Melbourne, and Sydney (from ~2026), Australia; Minneapolis, Minnesota; and London, England, ensuring continuity for ongoing studies and trusted relationships.

About Nucleus Network

Nucleus Network is the only early-phase clinical research provider with a global footprint, operating dedicated Phase I facilities in Australia, the United States, and the United Kingdom. With over 20 years of experience and more than 1,500 first-in-human studies conducted, Nucleus Network is recognized for its scientific excellence, operational integrity, and commitment to innovation.

For more information, visit: www.nucleusnetwork.com

Contacts

Media Contact

Dani Stoltzfus

Mighty Spark Communications

Email: dstoltzfus@mightysparkcommunications.com

Katrina Campbell

EVP Marketing & Communications

Nucleus Network

Email: k.campbell@nucleusnetwork.com.au

Number of Shares and Voting Rights of Innate Pharma as of August 1, 2025

Number of Shares and Voting Rights of Innate Pharma as of August 1, 2025




Number of Shares and Voting Rights of Innate Pharma as of August 1, 2025

MARSEILLE, France–(BUSINESS WIRE)–Regulatory news:


Pursuant to the article L. 233-8 II of the French “Code de Commerce” and the article 223-16 of the French stock-market authorities (Autorité des Marchés Financiers, or “AMF”) General Regulation, Innate Pharma SA (Euronext Paris: IPH; Nasdaq: IPHA) (“Innate” or the “Company”) releases its total number of shares outstanding as well as its voting rights as of August 1, 2025:

Total number of shares outstanding:

92,184,823 ordinary shares

 

6,424 Preferred Shares 2016

7,581 Preferred Shares 2017

Total number of theoretical voting rights (1):

Total number of exercisable voting rights (2):

92,962,943

92,944,368

(1) The total number of theoretical voting rights (or “gross” voting rights) is used as the basis for calculating the crossing of shareholding thresholds. In accordance with Article 223-11 of the AMF General Regulation, this number is calculated on the basis of all shares to which voting rights are attached, including shares whose voting rights have been suspended. The total number of theoretical voting rights includes voting rights attached to AGAP 2016, i.e. 130 voting rights for the AGAP 2016-1 and 111 voting rights for the AGAP 2016-2. No voting rights attached to AGAP 2017.

(2) The total number of exercisable voting rights (or “net” voting rights) is calculated without taking into account the shares held in treasury by the Company, with suspended voting rights. It is released so as to ensure that the market is adequately informed, in accordance with the recommendation made by the AMF on July 17, 2007.

About Innate Pharma

Innate Pharma S.A. is a global, clinical-stage biotechnology company developing immunotherapies for cancer patients. Its innovative approach aims to harness the innate immune system through three therapeutic approaches: multi-specific NK Cell Engagers via its ANKET® (Antibody-based NK cell Engager Therapeutics) proprietary platform and Antibody Drug Conjugates (ADC) and monoclonal antibodies (mAbs).

Innate’s portfolio includes several ANKET® drug candidates to address multiple tumor types as well as IPH4502, a differentiated ADC in development in solid tumors. In addition, anti-KIR3DL2 mAb lacutamab is developed in advanced form of cutaneous T cell lymphomas and peripheral T cell lymphomas, and anti-NKG2A mAb monalizumab is developed with AstraZeneca in non-small cell lung cancer.

Innate Pharma is a trusted partner to biopharmaceutical companies such as Sanofi and AstraZeneca, as well as leading research institutions, to accelerate innovation, research and development for the benefit of patients.

Headquartered in Marseille, France with a US office in Rockville, MD, Innate Pharma is listed on Euronext Paris and Nasdaq in the US.

Learn more about Innate Pharma at www.innate-pharma.com and follow us on LinkedIn and X.

Information about Innate Pharma shares

ISIN code
Ticker code
LEI

FR0010331421

Euronext: IPH Nasdaq: IPHA

9695002Y8420ZB8HJE29

Disclaimer on forward-looking information and risk factors

This press release contains certain forward-looking statements, including those within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995. The use of certain words, including “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “may,” “might,” “potential,” “intend,” “should,” “will,” or the negative of these and similar expressions, is intended to identify forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include, among other things, the uncertainties inherent in research and development, including related to safety, progression of and results from its ongoing and planned clinical trials and preclinical studies, review and approvals by regulatory authorities of its product candidates, the Company’s reliance on third parties to manufacture its product candidates, the Company’s commercialization efforts and the Company’s continued ability to raise capital to fund its development. For an additional discussion of risks and uncertainties, which could cause the Company’s actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risque”) section of the Universal Registration Document filed with the French Financial Markets Authority (“AMF”), which is available on the AMF website http://www.amf-france.org or on Innate Pharma’s website, and public filings and reports filed with the U.S. Securities and Exchange Commission (“SEC”), including the Company’s Annual Report on Form 20-F for the year ended December 31, 2024, and subsequent filings and reports filed with the AMF or SEC, or otherwise made public by the Company. References to the Company’s website and the AMF website are included for information only and the content contained therein, or that can be accessed through them, are not incorporated by reference into, and do not constitute a part of, this press release.

In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by the Company or any other person that the Company will achieve its objectives and plans in any specified time frame or at all. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This press release and the information contained herein do not constitute an offer to sell or a solicitation of an offer to buy or subscribe to shares in Innate Pharma in any country.

Contacts

For additional information, please contact:
Investors & Media Relations
Innate Pharma
Henry Wheeler

Tel.: +33 (0)4 84 90 32 88

Henry.wheeler@innate-pharma.fr

Biocytogen Upgrades Preclinical Service Platform and Launches Revamped Global Website

Biocytogen Upgrades Preclinical Service Platform and Launches Revamped Global Website




Biocytogen Upgrades Preclinical Service Platform and Launches Revamped Global Website

BEIJING–(BUSINESS WIRE)–#AntibodyDiscovery–Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen, HKEX: 02315), a global biotechnology company that drives the research and development of novel antibody-based drugs with innovative technologies, today announced a comprehensive upgrade to its preclinical business division. The upgrade features an expanded portfolio of genetically engineered animal models—including target-humanized, immune-humanized, transgenic, and immunodeficient mice—alongside a full suite of preclinical services such as efficacy studies, PK/PD analysis, biomarker evaluation, and non-GLP toxicology testing. In parallel, the company also launched its new official website (https://biocytogen.com), featuring an intuitive structure, enriched content, and an optimized multilingual user experience to serve global clients and partners better.


Extensive Model Portfolio with Over 1,100 Target-Humanized Mouse Models

In 2021, Biocytogen launched the “BioMice” sub-brand to advance its portfolio of genetically engineered mouse models. Leveraging its proprietary gene-editing platform, the company has developed more than 1,100 target-humanized mice. These models are generated using precise in situ gene replacement technology, which substitutes mouse genes with human sequences while preserving endogenous gene regulation. This approach enables a more accurate simulation of human physiological and pathological conditions, establishing BioMice as the gold-standard platform for evaluating the efficacy and safety of various therapeutic modalities, including antibody drugs, cell therapies, bispecific/multispecific antibodies, ADCs, and oligonucleotide-based treatments.

The company has established high-value disease models for oncology, autoimmune, metabolic, and neurological disorders, including CD3 (TCEs), HER2 (TAAs), TL1A (IBD), TSLP (AD), GLP1R (muscle gain/weight loss), and TFR1 (BBB delivery). These models are widely used for target validation, mechanistic studies, and preclinical evaluations. To date, safety data generated from these models have supported 15 IND approvals by China’s NMPA and 5 IND approvals by the U.S. FDA (including 4 dual submissions). Biocytogen also offers immune-humanized mouse models (e.g., huPBMC-B-NDG, huHSC-B-NDG, huHSC-B-NDG hIL15, and huPBMC-B-NDG MHC I/II DKO plus), transgenic mice, and immunodeficient strains to support evaluations of immuno-oncology agents, T/NK cell therapies, and immunostimulatory drugs, building a comprehensive and multi-dimensional model portfolio.

Global Animal Supply Network Supporting Efficient Preclinical Research

Biocytogen operates three AAALAC-accredited animal facilities in Haimen (Jiangsu), Daxing (Beijing), and Boston (USA), covering a total area of 55,000 m² and offering an annual supply capacity of over 800,000 laboratory animals. With a robust quality control system and standardized microbial monitoring, Biocytogen has established an international distribution network spanning Asia, Europe, and North America. The company’s mouse models have been successfully delivered to clients in over 20 countries and regions, providing reliable model support for global drug development efforts.

Integrated Preclinical Services to Accelerate IND Filing and Clinical Translation

Leveraging its proprietary animal models, Biocytogen provides one-stop, non-GLP preclinical products and services, including in vivo efficacy testing, PK/PD analysis, biomarker assessment, and early toxicology studies. With a vast collection of CDX and PDX tumor models and customizable study designs, Biocytogen serves over 20 therapeutic areas—including solid tumors, hematologic malignancies, autoimmune diseases, metabolic disorders, and neurodegenerative diseases—and supports a variety of drug modalities such as antibodies, small molecules, ADCs, bispecifics, cell therapies, nucleic acids, and vaccines. As of now, Biocytogen has completed more than 5,300 drug evaluation studies for nearly 900 pharmaceutical and academic institutions worldwide.

Over One Million Fully Human Antibodies Empowering Antibody Drug Discovery

Beyond preclinical services, Biocytogen also leads in antibody discovery through its proprietary RenMice® platforms—including RenMab™ (fully human antibody), RenLite® (common light chain), RenNano® (VHH antibody), RenTCR™ (fully human TCR), and RenTCR-mimic™ (fully human TCR-mimic antibody). The company has built a library of over one million fully human antibody sequences against more than 1,000 potential therapeutic targets, with diverse structures and functional profiles. As of December 31, 2024, Biocytogen has signed approximately 200 drug co-development, licensing, or transfer agreements, including over 50 target-based RenMice® platform collaborations with multinational pharmaceutical companies. Multiple clinical-stage antibody candidates have also been successfully out-licensed to global partners. Biocytogen’s integrated capabilities in antibody discovery, screening, and engineering are accelerating the transition from target validation to clinical candidate selection, empowering global biopharmaceutical innovation.

New Official Website Launched to Serve Global Clients

To enhance global service capabilities, Biocytogen has officially launched its new website: https://biocytogen.com. Designed for a clean and intuitive user experience, the new site features streamlined architecture, upgraded content organization, improved search functionality, and multilingual support in Chinese, English, Japanese, and Korean. Structured around its two main business divisions—BioMice® for preclinical products and services and RenBiologics™ for antibody discovery and collaboration—the site offers a comprehensive overview of Biocytogen’s model products, antibody assets, project portfolios, and service capabilities. It provides an efficient and direct information portal for global partners and supports the company’s ongoing internationalization strategy.

About Biocytogen

Biocytogen (HKEX: 02315) is a global biotechnology company that drives the research and development of novel antibody-based drugs with innovative technologies. Founded on gene editing technology, Biocytogen leverages genetically engineered proprietary RenMice® (RenMab™/ RenLite®/ RenNano®/ RenTCR-mimic™) platforms for fully human monoclonal/bispecific/multispecific antibody discovery, bispecific antibody-drug conjugate discovery, nanobody discovery and TCR-mimic antibody discovery, and has established a sub-brand, RenBiologics™, to explore global partnerships for an off-the-shelf library of >1,000,000 fully human antibody sequences against over 1000 targets for worldwide collaboration. As of December 31, 2024, approximately 200 therapeutic antibody and multiple clinical asset co-development/out-licensing/transfer agreements and over 50 target-nominated RenMice® licensing projects have been established around the globe, including several partnerships with multinational pharmaceutical companies (MNCs). Biocytogen pioneered the generation of drug target knock-in humanized models for preclinical research, and currently provides a few thousand off-the-shelf animal and cell models under the company’s sub-brand, BioMice™, along with preclinical pharmacology and gene-editing services for clients worldwide. Headquartered in Beijing, Biocytogen has branches in China (Haimen Jiangsu, Shanghai), USA (Boston, San Francisco, San Diego), and Germany (Heidelberg). For more information, please visit https://biocytogen.com.

Contacts

Biocytogen Contacts
Preclinical Products and Services: info@biocytogen.com
Antibody assets and platforms: BD-Licensing@biocytogen.com
Media: pr@bbctg.com.cn

MaaT Pharma Secures €37.5 Million Loan From European Investment Bank (EIB) Marking a New Step in Advancing its Clinical Program in Hemato-Oncology

MaaT Pharma Secures €37.5 Million Loan From European Investment Bank (EIB) Marking a New Step in Advancing its Clinical Program in Hemato-Oncology




MaaT Pharma Secures €37.5 Million Loan From European Investment Bank (EIB) Marking a New Step in Advancing its Clinical Program in Hemato-Oncology

  • Tranche-based financing to support clinical development for the Company’s late-stage assets in hemato-oncology including Xervyteg® currently under review for potential approval by the EMA and MaaT033 currently in Phase 2b clinical evaluation
  • Funding is part of the European Investment Bank (EIB)’s strategy to support biotech companies with cutting-edge expertise in therapeutic areas such as hemato-oncology
  • Structured Debt financing from the EIB is another stepping stone in MaaT Pharma’s multi-sourcing financing strategy

LYON, France–(BUSINESS WIRE)–$MAAT #EIB–Regulatory News:


MaaT Pharma (EURONEXT: MAAT – the “Company”), a clinical-stage biotechnology company and a leader in the development of Microbiome Ecosystem Therapies™ (MET) dedicated to enhancing survival for patients with cancer through immune modulation, today announced that it has secured a €37.5 million, 4-tranche financing from the European Investment Bank (EIB). The financing will support the advancement of its late-stage hemato-oncology clinical programs including the lead-asset Xervyteg®, recently partnered with Clinigen in Europe, and currently under regulatory review by the European Medicines Agency (EMA) for the treatment of acute Graft-versus-Host Disease (aGvHD) and the second drug candidate, MaaT033, currently being evaluated in a Phase 2b randomized controlled trial in improving survival for patients receiving allogeneic stem cell transplants.

With robust cGMP manufacturing, proprietary therapies, and a development platform, MaaT Pharma is a global leader in microbiome-based oncology, pioneering full-ecosystem therapies to improve survival in oncology. Since completing enrollment in the ARES trial for Xervyteg® (MaaT013) in October 2024, MaaT Pharma has steadily advanced its roadmap, reporting topline results in January 2025, submitting the Marketing Authorization Application with the European Medicines Agency in June 2025, and signing an exclusive agreement for marketing and distribution in Europe with Clinigen in July 2025.

The €37.5 million financing from the EIB follows a rigorous due diligence process by the EIB and further confirms MaaT Pharma’s innovation, strategic vision and operational maturity. This funding is part of a global financial strategy to support the Company’s development that combines various non-dilutive and dilutive sources to best preserve shareholder value.

Eric Soyer, Chief Financial Officer, MaaT Pharma, said: “We are grateful for the confidence shown in MaaT Pharma and the support from the EIB, which is a further foundation towards the next phase of MaaT Pharma’s growth on bringing the potential first microbiome-based therapy to market in Europe. Each operational and financing step strengthens our track record. Following the regulatory submission to the EMA for Xervyteg®(MaaT013) and our recent partnership with Clinigen for its commercialization, the EIB financing represents another step in reinforcing the Company’s financial position. As previously announced, MaaT Pharma intends to fund its plans and development programs while preserving shareholder value in the best manner possible with a mix of non-dilutive and dilutive financial sources, and the recent announcements of both partnership financing with the Clinigen agreement and debt financing with the EIB agreement, are benchmarks to reflect that strategy.”

Summary of the main terms and conditions of the Loan and Warrants

The loan would be available in four (4) tranches, respectively of €3.5 million for Tranche A, €6.0 million for Tranche B, €8.0 million for Tranche C, and €20.0 million for Tranche D, each tranche with Warrants attached. Disbursement of Tranches 2 to 4 are subject to operational and financing conditions. All Tranches are redeemable after a grace period of 4 years from the date of drawing, with reimbursement over a period of 2 years (Tranche A, B and C, i.e. a maturity of 6 years) to 4 years (Tranche D, i.e. a maturity of 8 years). Each tranche will bear interests at 7%, it being provided that some interests will be deferred and paid at maturity and for Tranche C and Tranche D part of the interest will be paid quarterly.

MaaT Pharma will issue warrants to the benefit of EIB at the time of (and subject to) disbursement of each tranche in a number depending, for each relevant tranche, on the amount of the relevant tranche and the average price per share paid by investors in the context of equity injection made prior to disbursement of the relevant tranche (except for tranche A where the average price per share over the last trading days preceding the date of execution of the financing agreement). Each warrant will give right to subscribe to one share at a price per warrant equal to 99% of the average price over a period of 5 trading days preceding the issuance of each Warrant. The Warrants may be exercised at any time following maturity of Tranche A. The Warrants will have a 20-year term.

EIB and MaaT Pharma have also agreed on (i) a put option to the benefit of EIB under which MaaT Pharma undertook to acquire from EIB all or part of the Warrants upon occurrence of certain events and (ii) a call option to the benefit of MaaT Pharma under which EIB undertook to sell all its Warrants, upon occurrence of a public tender offer over the securities issued by MaaT Pharma.

The Warrants are not transferable, except to affiliates of EIB or except in case of occurrence of certain events (including maturity date of Tranche D). In case of transfer of Warrants to third party, MaaT Pharma shall benefit from a preemptive right to acquire the Warrants first.

MaaT Pharma was assisted in this transaction by Mr. Eric Briole and by Van Lanschot Kempen as Financial Advisors and McDermott Will & Emery as Legal Advisor.

About EIB
The European Investment Bank (EIB), whose shareholders are the Member States of the European Union (EU), is the EU’s long-term financing institution. Across eight major priorities, we support investments in climate action and the environment, digital transition and technological innovation, security and defense, cohesion, agriculture and the bioeconomy, social infrastructure, capital markets union, and a stronger Europe in a more peaceful and prosperous world. In 2024, the EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing in support of more than 900 projects in Europe and worldwide. In France, the EIB Group signed over a hundred operations in 2024 for a total amount of €12.6 billion. Nearly 60% of the EIB Group’s annual financing supports projects contributing to climate change mitigation and adaptation, as well as the creation of a healthier environment.

About MaaT Pharma
MaaT Pharma is a leading, late-stage clinical company focused on developing innovative gut microbiome-driven therapies to modulate the immune system and enhance cancer patient survival. Supported by a talented team committed to making a difference for patients worldwide, the Company was founded in 2014 and is based in Lyon, France. As a pioneer, MaaT Pharma is leading the way in bringing the first microbiome-driven immunomodulator in oncology. Using its proprietary pooling and co-cultivation technologies, MaaT Pharma develops high diversity, standardized drug candidates, aiming at extending life of cancer patients. MaaT Pharma has been listed on Euronext Paris (ticker: MAAT) since 2021.

Forward-looking Statements
All statements other than statements of historical fact included in this press release about future events are subject to (i) change without notice and (ii) factors beyond the Company’s control. These statements may include, without limitation, any statements preceded by, followed by, or including words such as “target,” “believe,” “expect,” “aim”, “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results or performance to be materially different from the expected results or performance expressed or implied by such forward-looking statements.

Contacts

EIB
Andrea Morawski, a.morawski@eib.org, mobile: +352 691 284 349

Website: www.eib.org/press – Press Office: press@eib.org

MaaT Pharma – Investor Relations
Guilhaume DEBROAS, Ph.D.

Head of Investor Relations

+33 6 16 48 92 50

invest@maat-pharma.com

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Genentech and Roche Present New Insights in Alzheimer’s Disease Research Across Its Diagnostics and Pharmaceutical Portfolios at AAIC

Genentech and Roche Present New Insights in Alzheimer’s Disease Research Across Its Diagnostics and Pharmaceutical Portfolios at AAIC




Genentech and Roche Present New Insights in Alzheimer’s Disease Research Across Its Diagnostics and Pharmaceutical Portfolios at AAIC

– Trontinemab’s Phase Ib/IIa Brainshuttle™ AD study continues to show rapid and robust clearance of amyloid plaques, with 91% becoming amyloid PET negative and ARIA-E remaining <5% –

– Design of the Phase III TRONTIER 1 and 2 studies of trontinemab in early symptomatic Alzheimer’s disease featured, with initiation planned in 2025 –

– Plans for new Phase III trial investigating trontinemab in preclinical Alzheimer’s disease, in people at high risk of cognitive decline –

– New real-world data support Elecsys pTau217 as a standalone blood test, comparable to a PET scan, for rule-in and rule-out identification of amyloid pathology –

SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY) announced today that new data from its Alzheimer’s development portfolio is being presented at the Alzheimer’s Association International Conference (AAIC) in Toronto, Canada (July 27-30). These data exemplify the comprehensive approach Roche is taking in addressing Alzheimer’s across the entire patient journey.


Featured oral presentations include the latest results from the ongoing Phase Ib/IIa Brainshuttle™ AD study, which continue to support rapid and robust reduction of amyloid plaques, and design of the Phase III TRONTIER 1 and 2 studies of investigational trontinemab for early symptomatic Alzheimer’s disease, with initiation planned later this year. As part of its growing Alzheimer’s development program, Roche announced today its plans for an additional Phase III trial to investigate trontinemab in preclinical Alzheimer’s disease. The trial will focus on individuals at risk of cognitive decline, with the goal of potentially delaying or preventing the progression of the disease to symptomatic stages.

“Alzheimer’s disease represents one of the greatest challenges in healthcare today and tackling it requires early detection and effective therapeutics,” said Levi Garraway, M.D., Ph.D., chief medical officer and head of Global Product Development. “Trontinemab is designed to target a key driver of Alzheimer’s disease biology more effectively in the brain. Combining new treatment avenues with advanced diagnostics may enable earlier and potentially more effective intervention. With plans for Phase III trials in both early symptomatic and preclinical Alzheimer’s disease, we are advancing science with the goal of delaying—and ultimately preventing—progression of this devastating condition.”

Late-breaking oral and poster presentations highlight the potential of Roche’s Elecsys® pTau217 as a reliable and accessible blood-based biomarker test, providing comparable results to PET scan and cerebrospinal fluid (CSF) diagnostics for rule-in and rule-out diagnosis of amyloid pathology, a hallmark of Alzheimer’s disease, across care settings. The test, which received Breakthrough Device Designation from the U.S. Food and Drug Administration last year, will also be utilized in Roche’s TRONTIER studies.

“Blood based testing for Alzheimer’s disease has the potential to greatly improve patient access and decrease the time to definitive disease diagnosis,” said Matt Sause, CEO of Roche Diagnostics. “Our data show that the Elecsys pTau217 test performs comparably to PET scans but can be performed with a simple blood draw and analyzed in a routine clinical laboratory. This has the potential to transform the diagnosis of Alzheimer’s and provide clear answers to caregivers, patients, and their families.”

Up to 75% of people living with symptoms of Alzheimer’s disease globally have not been diagnosed, and those who have, waited an average of 2.8 years, and even less have received any form of treatment. Diagnostics play a crucial role in addressing the global challenge of Alzheimer’s, not only to detect and identify people with the disease early, even before the first symptoms, but also to rule out those who may or may not benefit from specific treatments.

Pharmaceuticals

In a 90-minute Featured Research session, designs were shared for the Phase III studies, TRONTIER 1 and 2, which will initiate later this year, investigating the efficacy and safety of investigational trontinemab in people with early Alzheimer’s disease. The primary endpoint will measure the change in cognition and function based on the Clinical Dementia Rating – Sum of Boxes scale after 18 months of treatment. Secondary endpoints will include assessments of cognition, function, behavioral symptoms, and quality of life. A pre-screening study, TRAVELLER, based on a brief clinical assessment and a plasma biomarker, which will be identified using the Elecsys pTau217 test, has also been initiated, to enable broader community outreach and extend access to these trials to more diverse populations representative of Alzheimer’s disease.

New data on the latest results for trontinemab from the completed dose-expansion part of the 1.8 mg/kg and 3.6 mg/kg cohorts from the ongoing Phase Ib/IIa Brainshuttle AD study continued to show rapid and robust reduction of amyloid plaques in the brain as measured by amyloid positron emission tomography (PET). In the 3.6 mg/kg cohort, trontinemab reduced amyloid levels below the 24 centiloid positivity threshold in 91% of participants (n=49/54) after 28 weeks of treatment; 72% (n=39/54) achieved deep clearance below 11 centiloids.

These data were reinforced by early and significant reductions in fluid biomarkers of Alzheimer’s disease, including total tau, phosphorylated Tau (pTau)181, pTau217, and neurogranin measured in CSF and plasma.Trontinemab continues to show a favourable safety and tolerability profile. Amyloid-related imaging abnormalities-edema/effusion (ARIA-E) continued to be observed in <5% of participants (blinded data; N=4/149 across 1.8 and 3.6 mg/kg dose cohorts). All cases were radiographically mild, one was associated with mild and transient symptoms.

Diagnostics

Roche will present data on a new study comparing the pTau217/Ab42 plasma ratio to the high-throughput, fully automated Elecsys pTau217 assay. The presentation will report on the accuracy of these tools in detecting amyloid pathology. Together with the high throughput and full automation of the assay, these data will assess the potential of Elecsys pTau217 as an accurate standalone rule-in and rule-out test that could be scaled up for broad implementation in routine clinical practice worldwide.

Additionally, results from a cohort-based model of healthcare utilization in the U.S. demonstrated that using the Elecsys® pTau181 blood-based rule-out test in primary care scenarios improved diagnostic accuracy and reduced resource use compared with the current standard-of-care clinical, cognitive and imaging tests. If made available in primary care settings, the Roche Elecsys® pTau181 blood test has the potential to reliably avoid the need for further confirmatory testing in nearly all people who receive a negative result. This will avoid the need for these people to undergo unnecessary testing using CSF or PET, which often come with long wait times and high cost, resulting in further delays to diagnosis and cost to healthcare systems.

Medicine

Abstract title

Presentation number (type)

Presentation date (session)

Time

Abstracts will be available on the AAIC website.

Pharmaceuticals

Next wave of innovation in Alzheimer’s disease therapeutics: The value of novel active transport mechanisms

Featured Research Session (FRS), Talk 1

Room 718

27 July 2025, 2pm – 3:30pm EDT

Cath Mummery, Roberto Villaseñor, Jens Niewoehner, Scarlett Barker, Luka Kulic

Latest results from the dose-expansion part (Part 2) of the Brainshuttle™ AD study of trontinemab in people with Alzheimer’s disease

Featured Research Session (FRS), Talk 2

Room 718

27 July 2025, 2pm – 3:30pm EDT

Luka Kulic, Fabien Alcaraz, Gregory Klein, Stephen Salloway, Carsten Hofmann, João A. Abrantes, Stella Yilmaz, Denise Sickert, Maddalena Marchesi, Jakub Wojtowicz, Andres Schneider, Ruth Croney, David Agnew, Silke Ahlers, Paul Delmar, Hanno Svoboda, Iris Wiesel

Interim biomarker results for trontinemab, a novel Brainshuttle™ antibody in development for the treatment of Alzheimer’s disease

Featured Research Session (FRS), Talk 3

Room 718

27 July 2025, 2pm – 3:30pm EDT

Gregory Klein, Gil Rabinovici, Henrik Zetterberg, Matteo Tonietto, Tobias Bittner, Daria Rukina, Fabien Alcaraz, Carsten Hofmann, Maddalena Marchesi, Jakub Wojtowicz, Ruth Croney, David Agnew, João A. Abrantes, Franziska Schaedeli Stark, Silke Ahlers, Paul Delmar, Hanno Svoboda, Iris Wiesel, Luka Kulic

TRONTIER 1 and TRONTIER 2: Pivotal trials of trontinemab in early symptomatic Alzheimer’s disease

Featured Research Session (FRS), Talk 4

Room 718

27 July 2025, 2pm – 3:30pm EDT

Janice Smith, Catherine Mummery, Jeffrey L. Cummings, Gil Rabinovici, Stephen Salloway, Reisa Sperling, Henrik Zetterberg, Angeliki Thanasopolou, Christopher Lane, Paul Delmar, Gregory Klein, Ruth Croney, Jakub Wojtowicz, Carsten Hofmann, Luka Kulic, Hideki Garren

Diagnostics

Evaluating the Impact on Diagnostic Performance and Healthcare Resource Utilization of Introducing a plasma rule-out test in the Alzheimer’s Disease Diagnostic Pathway

Poster #102729

27 July 2025, 7:30am – 4:15pm EDT

Sophie Roth, Gustaf Ortsäter, Joana Amorim Freire

Location tbc

 

Evaluating the Clinical Performance of the Elecsys pTau217 Plasma Immunoassay to Detect Amyloid Pathology in a Routine Clinical Practice Cohort

Poster #96679

28 July 2025, 7:30am – 4:15pm EDT

Sayuri Hortsch, Niels Borlinghaus, Alexander Jethwa, David Caley, Annunziata Di Domenico, Craig Ritchie

 

Clinical performance and effect of pre-analytical variation of plasma pTau217 alone versus the plasma pTau217/Aβ42 ratio for the identification of amyloid pathology

Oral Developing Topics #108585

3-23-DEV Developing Topics on Tau Biomarkers

29 July 2025, 2:00pm – 3:30pm EDT

Christopher M. Rank, Joana Amorim Freire, Alexander Jethwa, Annunziata Di Domenico, Christina Rabe, Marc Suárez-Calvet, Colin L. Masters, Tobias Bittner

 

Accuracy of cerebrospinal fluid biomarker ratios to determine amyloid positron-emission tomography status: a diagnostic test accuracy meta-analysis

Poster #100941

28 July 2025, 7:30am – 4:15pm EDT

Pablo Martinez-Lage, Eino Solje, Julian G. Martins, Sraboni Sarkar

 

Equity in diagnosis through adequate clinical trial design in diagnostic performance studies

Poster #102804

30 July 2025, 7:30am – 4:15pm EDT

Imke Kirste, David Caley, Clara Quijano Rubio, Margherita Carboni

 

 

Investigating Differences in Patients Enrolled in a Clinical Study Based on Referral Type

Poster #108110

30 July 2025, 7:30am – 4:15pm EDT

Sophie Roth, Laura Schlieker, Sayuri Hortsch, Joana Amorim Freire, David Caley

 

About trontinemab

Trontinemab is an investigational Brainshuttle bispecific 2+1 amyloid-beta targeting monoclonal antibody specifically engineered for enhanced access to the brain to enable rapid reduction of amyloid in people with Alzheimer’s disease. Trontinemab is designed for the efficient transport across the blood-brain barrier to target aggregated forms of amyloid beta and remove amyloid plaques in the brain.

The uniqueness of trontinemab is based on Roche’s proprietary Brainshuttle technology combining an amyloid beta-binding antibody with a transferring receptor (TfR1) shuttle module. As a result, high central nervous system (CNS) exposure of trontinemab may be achieved at low doses, leading to a rapid and deep amyloid clearance. Due to its unique properties, trontinemab might unlock the full potential of disease-modifying monoclonal antibodies by effectively penetrating the brain and potentially leading to slowing of disease progression.

About Roche in Alzheimer’s Disease

With more than two decades of scientific research in Alzheimer’s disease, Roche is working towards a day when we can detect and treat the disease early, in order to slow down, stop or even prevent its progression to preserve what makes people who they are. Today, the company’s Alzheimer’s disease portfolio spans investigational medicines for different targets, types and stages of the disease, including trontinemab. On the diagnostics side, it also includes approved and investigational tools, including digital and blood-based tests and CSF assays, aiming to more effectively detect, diagnose and monitor the disease. Yet the global challenges of Alzheimer’s disease go well beyond the capabilities of science, and making a meaningful impact requires collaboration both within the Alzheimer’s community and outside of healthcare. Roche will continue to work together with numerous partners with the hope to transform millions of lives.

About Genentech in Neuroscience

Neuroscience is a major focus of research and development at Genentech. Our goal is to pursue groundbreaking science to develop new treatments that help improve the lives of people with chronic and potentially devastating diseases.

Genentech and Roche are investigating more than a dozen medicines for neurological disorders, including multiple sclerosis, spinal muscular atrophy, neuromyelitis optica spectrum disorder, Alzheimer’s disease, Huntington’s disease, Parkinson’s disease and Duchenne muscular dystrophy. Together with our partners, we are committed to pushing the boundaries of scientific understanding to solve some of the most difficult challenges in neuroscience today.

About Genentech

Founded more than 40 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes medicines to treat patients with serious and life-threatening medical conditions. The company, a member of the Roche Group, has headquarters in South San Francisco, California. For additional information about the company, please visit http://www.gene.com.

Contacts

Media Contact: Meghan Hindman (650) 467-6800

Advocacy Contact: Jenee Williams (650) 303-2958

Investor Contacts: Loren Kalm (650) 225-3217

Bruno Eschli +41616875284

Azafaros Announces Initiation of two Global Phase 3 studies with Nizubaglustat in Niemann-Pick disease Type C (NPC) and GM1/GM2 gangliosidoses, respectively

Azafaros Announces Initiation of two Global Phase 3 studies with Nizubaglustat in Niemann-Pick disease Type C (NPC) and GM1/GM2 gangliosidoses, respectively




Azafaros Announces Initiation of two Global Phase 3 studies with Nizubaglustat in Niemann-Pick disease Type C (NPC) and GM1/GM2 gangliosidoses, respectively

  • First patient dosed in global pivotal clinical trial program for late infantile/juvenile onset NPC and GM1/GM2 gangliosidoses.
  • Both studies are part of Azafaros’ mission to develop treatments for the unmet need of patients with rare lysosomal storage disorders
  • The news follows the company’s recent successful €132M Series B financing, aimed at supporting the rapid development of nizubaglustat and the expansion of Azafaros’ pipeline to other indications

LEIDEN, Netherlands–(BUSINESS WIRE)–#AdultsAzafaros, a company focused on developing treatments for the unmet needs of patients with rare lysosomal storage disorders, today announced that the first patient has been dosed in the company’s pivotal, multicenter Phase 3 clinical program to evaluate the safety and efficacy of the company’s lead asset, nizubaglustat, in patients with Niemann-Pick disease Type C (NPC) and GM1/GM2 gangliosidoses.


The initiation of the two Phase 3 studies (NCT07054515) represents a major milestone in Azafaros’ commitment to addressing the urgent unmet medical needs of children affected by these devastating neurodegenerative disorders.

The Phase 3 program consists of two studies targeting the late-infantile and juvenile-onset forms of NPC, and GM1/GM2 gangliosidoses. The studies aim to assess the potential of nizubaglustat to alter disease progression and improve functional outcomes in these patient populations.

Today’s news follows the recent, successful completion of an oversubscribed series B financing, raising €132M to support the acceleration of nizubaglustat and the expansion of the company’s pipeline to other indications.

“The dosing of the first patient in our Phase 3 program with nizubaglustat is a significant achievement for Azafaros and a huge step forward in our efforts to bring new, disease modifying treatments to patients with these seriously debilitating diseases,” said Stefano Portolano, Chief Executive Officer at Azafaros. “We are deeply grateful to the patients, families, clinicians, and advocacy groups who are partnering with us to advance this promising therapy.”

About the NAVIGATE trial

The two 18-month randomized 2 to 1, double-blind, placebo-controlled trials will recruit patients at approximately 35 sites across 15 countries worldwide, including in the US, Europe and Latin America. The studies are expected to enroll around 70 patients. The primary endpoint for both trials is the change from baseline to Month 18 in the Scale for the Assessment and Rating of Ataxia (SARA), with both total and functional SARA scores evaluated.

For more information on the Phase 3 program, please visit www.azafaros.com. To enquire about trial participation, email: medinfo@azafaros.com (if a professional) or patientadvocacy@azafaros.com (if a patient or caregiver). To protect privacy, avoid including identifying information in the initial message.

About nizubaglustat

Nizubaglustat is a small molecule, orally available and brain penetrant azasugar with a unique dual mode of action, developed as a potential treatment for rare lysosomal storage disorders with neurological involvement, including GM1 and GM2 gangliosidoses and Niemann-Pick disease type C (NPC).

Nizubaglustat has received Rare Pediatric Disease Designations (RPDD) for the treatment of GM1 and GM2 gangliosidoses and NPC, Orphan Drug Designations (ODD) for GM1 and GM2 gangliosidosis (Sandhoff and Tay-Sachs Diseases) and NPC, as well as Fast Track Designation and IND clearance for GM1/GM2 gangliosidoses and NPC from the US Food and Drug Administration (FDA). Additionally, nizubaglustat has been awarded Orphan Medicinal Product Designation (OMPD) for the treatment of GM1 and GM2 gangliosidoses by the European Medicines Agency (EMA) and Innovation Passport for the treatment of GM1 and GM2 gangliosidoses from the UK Medicines and Healthcare Products Regulatory Agency (MHRA).

About GM1 and GM2 gangliosidoses

GM1 gangliosidosis and GM2 gangliosidosis (Tay-Sachs and Sandhoff diseases) are lysosomal storage disorders caused by the accumulation of GM1 or GM2 gangliosides respectively, in the central nervous system (CNS). This results in progressive and severe neurological impairment and premature death. These diseases mostly affect infants and children, and no disease-modifying treatments are currently available.

About Niemann-Pick disease Type C (NPC)

Niemann-Pick disease Type C is a progressive, life-limiting, neurological, lysosomal storage disorder, caused by mutations in the NPC1 or NPC2 gene and aberrant endosomal-lysosomal trafficking, leading to the accumulation of various lipids, including gangliosides in the CNS. The onset of disease can happen throughout the lifespan of an affected individual, from prenatal life through adulthood.

About Azafaros

Azafaros is a clinical-stage company founded in 2018 with a deep understanding of rare genetic disease mechanisms using compound discoveries made by scientists at Leiden University and Amsterdam UMC and is led by a team of highly experienced industry experts. Azafaros aims to build a pipeline of disease-modifying therapeutics to offer new treatment options to patients and their families. By applying its knowledge, network and courage, the Azafaros team challenges traditional development pathways to rapidly bring new drugs to the rare disease patients who need them. Azafaros is supported by leading healthcare investors including Forbion, Jeito Capital, Seroba, Pictet Group, BioGeneration Ventures (BGV), BioMedPartners, Asahi Kasei Pharma Ventures, and Schroders Capital.

Contacts

For further information:
Azafaros B.V.

Email: info@azafaros.com
www.azafaros.com

Sensient Technologies Corporation Reports Results for the Quarter Ended June 30, 2025

Sensient Technologies Corporation Reports Results for the Quarter Ended June 30, 2025




Sensient Technologies Corporation Reports Results for the Quarter Ended June 30, 2025

MILWAUKEE–(BUSINESS WIRE)–Sensient Technologies Corporation (NYSE: SXT), a leading provider of flavors and colors for the food, pharmaceutical, and personal care markets, today reported financial results for the second quarter ended June 30, 2025.


Second Quarter Consolidated Results

  • Reported revenue increased 2.7% to $414.2 million in the second quarter of 2025 versus last year’s second quarter results of $403.5 million. On a local currency basis(1), revenue increased 2.1%.
  • Reported operating income increased 16.2% to $57.7 million compared to $49.7 million recorded in the second quarter of 2024. In the second quarter of 2025, the Company recorded $3.3 million of costs related to its Portfolio Optimization Plan versus last year’s $1.8 million in the second quarter. Local currency adjusted operating income(1) and local currency adjusted EBITDA(1) increased 16.9% and 14.1%, respectively, in the second quarter.
  • Reported earnings per share increased 20.5% to 88 cents in the second quarter of 2025 compared to 73 cents in the second quarter of 2024. Local currency adjusted diluted EPS(1) increased 20.8% in the second quarter.

“Sensient continued to build on a strong first quarter. Our results are a testament to our relentless focus on customer service and innovation. I remain very confident about our performance in 2025 and beyond,” said Paul Manning, Sensient’s Chairman, President, and Chief Executive Officer.

 

Second Quarter Group Results

 

Reported

 

Local Currency(1)

Revenue

Quarter

 

Year-to-Date

 

Quarter

 

Year-to-Date

Flavors & Extracts

-2.8%

 

-1.3%

 

-3.2%

 

-0.9%

Color

6.9%

 

5.9%

 

6.6%

 

7.4%

Asia Pacific

10.8%

 

7.3%

 

7.6%

 

6.2%

Total Revenue

2.7%

 

2.3%

 

2.1%

 

3.1%

 

 

 

 

 

 

 

Reported

 

Local Currency Adjusted(1)

Operating Income

Quarter

 

Year-to-Date

 

Quarter

 

Year-to-Date

Flavors & Extracts

8.8%

 

7.2%

 

8.6%

 

7.5%

Color

23.6%

 

16.8%

 

22.1%

 

17.8%

Asia Pacific

13.5%

 

10.4%

 

8.0%

 

7.5%

Total Operating Income

16.2%

 

12.3%

 

16.9%

 

13.6%

 

The Flavors & Extracts Group reported second quarter 2025 revenue of $203.3 million, a decrease of $6.0 million versus the prior year’s second quarter. The Group’s revenue was unfavorably impacted by lower volumes in natural ingredients, partially offset by higher volumes in our flavors, extracts, and flavor ingredients product lines. Segment operating income was $28.5 million in the second quarter of 2025, an increase of $2.3 million compared to the prior year’s second quarter. The segment operating income increased despite the decline in segment revenues due to strong profitability of the flavors, extracts, and flavor ingredients product lines.

The Color Group reported revenue of $179.3 million in the second quarter of 2025, an increase of $11.6 million compared to the prior year’s second quarter. The Group’s revenue increase was driven by strong growth in the food and pharmaceutical product lines. Segment operating income was $38.9 million in the second quarter of 2025, an increase of $7.4 million compared to the prior year’s second quarter results.

The Asia Pacific Group reported revenue of $42.7 million in the second quarter of 2025, an increase of $4.2 million compared to the prior year’s second quarter. The Group’s revenue increased across nearly all geographies. Segment operating income was $8.9 million in the quarter, an increase of $1.1 million compared to the prior year’s second quarter.

Corporate & Other reported operating expenses of $18.7 million in the second quarter of 2025, compared to $15.9 million of operating expenses reported in the prior year’s second quarter. The higher operating expenses were primarily due to higher Portfolio Optimization Plan costs in the quarter. Local currency adjusted operating expenses(1) for Corporate & Other increased $1.1 million compared to the prior year’s second quarter, primarily due to higher performance-based compensation costs recorded in 2025.

2025 OUTLOOK

 
 
Metric Current Guidance Prior Guidance
 
Local Currency Revenue(1) Mid-Single-Digit Growth Mid-Single-Digit Growth
 
Local Currency Adjusted EBITDA(1) High Single-Digit Growth Mid-Single-Digit to High Single-Digit Growth
 
Diluted EPS (GAAP) Between $3.13 and $3.23* Between $3.13 and $3.23
 
Local Currency Adjusted Diluted EPS(1) High Single-Digit to Double-Digit Growth High Single-Digit to Double-Digit Growth
 
*Includes approximately 20 cents of Portfolio Optimization Plan costs. Based on current exchange rates, foreign currency impact is expected to be a slight tailwind for the year.

The Company’s guidance is based on current conditions and economic and market trends in the markets in which the Company operates and is subject to various risks and uncertainties as described below.

(1)

Please refer to “Reconciliation of Non-GAAP Amounts” at the end of this release for more information regarding our non-GAAP financial measures.

USE OF NON-GAAP FINANCIAL MEASURES

The Company’s non-GAAP financial measures eliminate the impact of certain items, which, depending on the measure, include: currency movements, depreciation and amortization, Portfolio Optimization Plan costs, and non-cash share-based compensation. These measures are provided to enhance the overall understanding of the Company’s performance when viewed together with the GAAP results. Refer to “Reconciliation of Non-GAAP Amounts” at the end of this release.

CONFERENCE CALL

The Company will host a conference call to discuss its 2025 second quarter financial results at 8:30 a.m. CDT on Friday, July 25, 2025. To participate in the conference call, contact Chorus Call Inc. at (844) 492-3726 or (412) 317-1078, and ask to join the Sensient Technologies Corporation conference call. Alternatively, the call can be accessed by using the webcast link that is available on the Investor Information section of the Company’s web site at www.sensient.com.

A replay of the call will be available one hour after the end of the conference call through August 1, 2025, by calling (877) 344-7529 and using access code 2167989. An audio replay and written transcript of the call will also be posted on the Investor Information section of the Company’s web site at www.sensient.com on or after July 29, 2025.

This release contains statements that may constitute “forward-looking statements” within the meaning of Federal securities laws including in the quote from our Chairman, President, and Chief Executive Office and under “2025 Outlook” above. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, and other factors concerning the Company’s operations and business environment. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements and that could adversely affect the Company’s future financial performance include the following: the Company’s ability to manage general business, economic, and capital market conditions, including actions taken by customers in response to such market conditions, and the impact of recessions and economic downturns; the impact of macroeconomic and geopolitical volatility, including inflation and shortages impacting the availability and cost of raw materials, energy, and other supplies, disruptions and delays in the Company’s supply chain, and the conflicts between Russia and Ukraine and in the Middle East; industry, regulatory, legal, and economic factors related to the Company’s domestic and international business; the effects of tariffs, trade barriers, and disputes; the availability and cost of labor, logistics, and transportation; the pace and nature of new product introductions by the Company and the Company’s customers; the Company’s ability to anticipate and respond to changing consumer preferences, changing technologies, and changing regulations; the Company’s ability to successfully implement its growth strategies; the outcome of the Company’s various productivity-improvement and cost-reduction efforts, acquisition and divestiture activities, and Portfolio Optimization Plan; growth in markets for products in which the Company competes; industry and customer acceptance of price increases; actions by competitors; the Company’s ability to enhance its innovation efforts and drive cost efficiencies; currency exchange rate fluctuations; and other factors included in “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, and in other documents that the Company files with the SEC. The risks and uncertainties identified above are not the only risks the Company faces. Additional risks and uncertainties not presently known to the Company or that it currently believes to be immaterial also may adversely affect the Company. Should any known or unknown risks and uncertainties develop into actual events, these developments could have material adverse effects on our business, financial condition, and results of operations. This release contains time-sensitive information that reflects management’s best analysis only as of the date of this release. Except to the extent required by applicable laws, the Company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied herein will not be realized.

ABOUT SENSIENT TECHNOLOGIES

Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors, and other specialty ingredients. Sensient uses advanced technologies and robust global supply chain capabilities to develop specialized solutions for food and beverages, as well as products that serve the pharmaceutical, nutraceutical, and personal care industries. Sensient’s customers range in size from small entrepreneurial businesses to major international manufacturers representing some of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.

www.sensient.com

 
Sensient Technologies Corporation
(In thousands, except percentages and per share amounts)
(Unaudited)
 
Consolidated Statements of Earnings

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

 

 

 

 

 

 

 

 

 

2025

 

2024

 

% Change

 

2025

 

2024

 

% Change

 
Revenue

$

414,230

 

$

403,525

 

2.7

%

$

806,555

 

$

788,195

 

2.3

%

 
Cost of products sold

 

271,398

 

 

272,803

 

(0.5

%)

 

531,946

 

 

530,924

 

0.2

%

Selling and administrative expenses

 

85,126

 

 

81,065

 

5.0

%

 

163,373

 

 

158,208

 

3.3

%

 
Operating income

 

57,706

 

 

49,657

 

16.2

%

 

111,236

 

 

99,063

 

12.3

%

Interest expense

 

7,391

 

 

7,653

 

 

14,732

 

 

14,698

 

 
Earnings before income taxes

 

50,315

 

 

42,004

 

 

96,504

 

 

84,365

 

Income taxes

 

12,728

 

 

11,072

 

 

24,455

 

 

22,493

 

 
Net earnings

$

37,587

 

$

30,932

 

21.5

%

$

72,049

 

$

61,872

 

16.4

%

 
Earnings per share of common stock:
Basic

$

0.89

 

$

0.73

 

$

1.71

 

$

1.47

 

 
Diluted

$

0.88

 

$

0.73

 

$

1.69

 

$

1.46

 

 
Average common shares outstanding:
Basic

 

42,246

 

 

42,154

 

 

42,221

 

 

42,129

 

 
Diluted

 

42,575

 

 

42,398

 

 

42,522

 

 

42,351

 

 
 
 
Results by Segment

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

 

 

 

 

 

 

 

 

 

Revenue

2025

 

2024

 

% Change

 

2025

 

2024

 

% Change

 
Flavors & Extracts

$

203,251

 

$

209,213

 

(2.8

%)

$

396,932

 

$

402,305

 

(1.3

%)

Color

 

179,282

 

 

167,700

 

6.9

%

 

347,032

 

 

327,725

 

5.9

%

Asia Pacific

 

42,744

 

 

38,580

 

10.8

%

 

84,645

 

 

78,886

 

7.3

%

Intersegment elimination

 

(11,047

)

 

(11,968

)

 

(22,054

)

 

(20,721

)

 
Consolidated

$

414,230

 

$

403,525

 

2.7

%

$

806,555

 

$

788,195

 

2.3

%

 
Operating Income
 
Flavors & Extracts

$

28,506

 

$

26,209

 

8.8

%

$

53,495

 

$

49,887

 

7.2

%

Color

 

38,922

 

 

31,502

 

23.6

%

 

73,774

 

 

63,181

 

16.8

%

Asia Pacific

 

8,943

 

 

7,880

 

13.5

%

 

18,385

 

 

16,656

 

10.4

%

Corporate & Other

 

(18,665

)

 

(15,934

)

 

(34,418

)

 

(30,661

)

 
Consolidated

$

57,706

 

$

49,657

 

16.2

%

$

111,236

 

$

99,063

 

12.3

%

 
 
Sensient Technologies Corporation
(In thousands)
(Unaudited)
 
Consolidated Condensed Balance Sheets

June 30,

 

December 31,

2025

 

2024

 
Cash and cash equivalents

$

56,686

$

26,626

Trade accounts receivable

 

333,951

 

290,087

Inventories

 

619,595

 

600,302

Prepaid expenses and other current assets

 

54,221

 

44,871

Fixed assets held for sale

 

1,629

 

Total Current Assets

 

1,066,082

 

961,886

 
Goodwill & intangible assets (net)

 

451,942

 

423,658

Property, plant, and equipment (net)

 

515,469

 

491,587

Other assets

 

171,068

 

146,663

 
Total Assets

$

2,204,561

$

2,023,794

 
Trade accounts payable

$

121,442

$

139,052

Short-term borrowings

 

26,280

 

19,848

Other current liabilities

 

103,402

 

111,739

Total Current Liabilities

 

251,124

 

270,639

 
Long-term debt

 

710,119

 

613,523

Accrued employee and retiree benefits

 

26,865

 

24,499

Other liabilities

 

59,332

 

54,147

Shareholders’ Equity

 

1,157,121

 

1,060,986

 
Total Liabilities and Shareholders’ Equity

$

2,204,561

$

2,023,794

 
Sensient Technologies Corporation
(In thousands, except per share amounts)
(Unaudited)
 
Consolidated Statements of Cash Flows
Six Months Ended June 30,

2025

 

2024

Cash flows from operating activities:
Net earnings

$

72,049

 

$

61,872

 

Adjustments to arrive at net cash provided by operating activities:
 
Depreciation and amortization

 

30,334

 

 

29,725

 

Share-based compensation expense

 

6,639

 

 

4,911

 

Net loss (gain) on assets

 

76

 

 

(195

)

Portfolio Optimization Plan costs

 

1,274

 

 

1,495

 

Deferred income taxes

 

2,711

 

 

529

 

Changes in operating assets and liabilities:
Trade accounts receivable

 

(30,293

)

 

(49,449

)

Inventories

 

(548

)

 

36,730

 

Prepaid expenses and other assets

 

(11,028

)

 

(6,612

)

Trade accounts payable and other accrued expenses

 

(17,578

)

 

(22,722

)

Accrued salaries, wages, and withholdings

 

(15,129

)

 

7,824

 

Income taxes

 

(937

)

 

(6,591

)

Other liabilities

 

1,734

 

 

1,429

 

 
Net cash provided by operating activities

 

39,304

 

 

58,946

 

 
Cash flows from investing activities:
Acquisition of property, plant, and equipment

 

(38,035

)

 

(22,850

)

Proceeds from sale of assets

 

56

 

 

296

 

Acquisition of new business

 

(4,867

)

 

 

Other investing activities

 

1,354

 

 

(336

)

 
Net cash used in investing activities

 

(41,492

)

 

(22,890

)

 
Cash flows from financing activities:
Proceeds from additional borrowings

 

106,484

 

 

132,189

 

Debt payments

 

(43,148

)

 

(120,571

)

Dividends paid

 

(34,700

)

 

(34,685

)

Other financing activities

 

(2,648

)

 

(3,016

)

 
Net cash provided by (used in) financing activities

 

25,988

 

 

(26,083

)

 
Effect of exchange rate changes on cash and cash equivalents

 

6,260

 

 

(8,568

)

 
Net increase in cash and cash equivalents

 

30,060

 

 

1,405

 

Cash and cash equivalents at beginning of period

 

26,626

 

 

28,934

 

Cash and cash equivalents at end of period

$

56,686

 

$

30,339

 

 
 
Supplemental Information
Six Months Ended June 30,

2025

2024

 
Dividends paid per share

$

0.82

 

$

0.82

 

 
Sensient Technologies Corporation
(In thousands, except percentages and per share amounts)
(Unaudited)
 
Reconciliation of Non-GAAP Amounts
The Company’s results for the three and six months ended June 30, 2025 and 2024 include adjusted operating income, adjusted net earnings, and adjusted diluted earnings per share, which, in each case, exclude Portfolio Optimization Plan costs.
 
 

Three Months Ended June 30,

 

Six Months Ended June 30,

2025

 

2024

 

% Change

 

2025

 

2024

 

% Change

Operating income (GAAP)

$

57,706

 

$

49,657

 

 

16.2

%

$

111,236

 

$

99,063

 

 

12.3

%

Portfolio Optimization Plan costs – Cost of products sold

 

1,789

 

 

207

 

 

3,603

 

 

314

 

Portfolio Optimization Plan costs – Selling and administrative expenses

 

1,550

 

 

1,545

 

 

2,600

 

 

4,250

 

Adjusted operating income

$

61,045

 

$

51,409

 

 

18.7

%

$

117,439

 

$

103,627

 

 

13.3

%

 
Net earnings (GAAP)

$

37,587

 

$

30,932

 

 

21.5

%

$

72,049

 

$

61,872

 

 

16.4

%

Portfolio Optimization Plan costs, before tax

 

3,339

 

 

1,752

 

 

6,203

 

 

4,564

 

Tax impact of Portfolio Optimization Plan costs(1)

 

(815

)

 

(214

)

 

(1,517

)

 

(569

)

Adjusted net earnings

$

40,111

 

$

32,470

 

 

23.5

%

$

76,735

 

$

65,867

 

 

16.5

%

 
Diluted earnings per share (GAAP)

$

0.88

 

$

0.73

 

 

20.5

%

$

1.69

 

$

1.46

 

 

15.8

%

Portfolio Optimization Plan costs, net of tax

 

0.06

 

 

0.04

 

 

0.11

 

 

0.09

 

Adjusted diluted earnings per share

$

0.94

 

$

0.77

 

 

22.1

%

$

1.80

 

$

1.56

 

 

15.4

%

 
Note: Earnings per share calculations may not foot due to rounding differences.
 
(1) Tax impact adjustments were determined based on the nature of the underlying non-GAAP adjustments and their relevant jurisdictional tax rates.
 
 
Results by Segment

Three Months Ended June 30,

 

 

 

 

Adjusted

 

 

 

 

 

Adjusted

Operating Income

2025

 

Adjustments(2)

 

2025

 

2024

 

Adjustments(2)

 

2024

 
Flavors & Extracts

$

28,506

 

$

 

$

28,506

 

$

26,209

 

$

 

$

26,209

 

Color

 

38,922

 

 

 

 

38,922

 

 

31,502

 

 

 

 

31,502

 

Asia Pacific

 

8,943

 

 

 

 

8,943

 

 

7,880

 

 

 

 

7,880

 

Corporate & Other

 

(18,665

)

 

3,339

 

 

(15,326

)

 

(15,934

)

 

1,752

 

 

(14,182

)

 
Consolidated

$

57,706

 

$

3,339

 

$

61,045

 

$

49,657

 

$

1,752

 

$

51,409

 

 
Results by Segment

Six Months Ended June 30,

 

 

 

 

Adjusted

 

 

 

 

 

Adjusted

Operating Income

2025

 

Adjustments(2)

 

2025

 

2024

 

Adjustments(2)

 

2024

 
Flavors & Extracts

$

53,495

 

$

 

$

53,495

 

$

49,887

 

$

 

$

49,887

 

Color

 

73,774

 

 

 

 

73,774

 

 

63,181

 

 

 

 

63,181

 

Asia Pacific

 

18,385

 

 

 

 

18,385

 

 

16,656

 

 

 

 

16,656

 

Corporate & Other

 

(34,418

)

 

6,203

 

 

(28,215

)

 

(30,661

)

 

4,564

 

 

(26,097

)

 
Consolidated

$

111,236

 

$

6,203

 

$

117,439

 

$

99,063

 

$

4,564

 

$

103,627

 

 
(2) Adjustments consist of Portfolio Optimization Plan costs.
 
 
Sensient Technologies Corporation
(Unaudited)
 
Reconciliation of Non-GAAP Amounts – Continued
 
The following table summarizes the percentage change in the 2025 results compared to the 2024 results for the corresponding periods.
 
Three Months Ended June 30, 2025
Revenue Total Foreign
Exchange
Rates
Adjustments(3) Local
Currency
Adjusted
Flavors & Extracts

(2.8

%)

0.4

%

N/A

 

(3.2

%)

Color

6.9

%

0.3

%

N/A

 

6.6

%

Asia Pacific

10.8

%

3.2

%

N/A

 

7.6

%

Total Revenue

2.7

%

0.6

%

N/A

 

2.1

%

 
Operating Income
Flavors & Extracts

8.8

%

0.2

%

0.0

%

8.6

%

Color

23.6

%

1.5

%

0.0

%

22.1

%

Asia Pacific

13.5

%

5.5

%

0.0

%

8.0

%

Corporate & Other

17.1

%

0.0

%

9.0

%

8.1

%

Total Operating Income

16.2

%

1.9

%

(2.6

%)

16.9

%

Diluted Earnings Per Share

20.5

%

1.3

%

(1.6

%)

20.8

%

Adjusted EBITDA

15.4

%

1.3

%

N/A

 

14.1

%

 
 
Six Months Ended June 30, 2025
Revenue Total Foreign
Exchange
Rates
Adjustments(3) Local
Currency
Adjusted
Flavors & Extracts

(1.3

%)

(0.4

%)

N/A

 

(0.9

%)

Color

5.9

%

(1.5

%)

N/A

 

7.4

%

Asia Pacific

7.3

%

1.1

%

N/A

 

6.2

%

Total Revenue

2.3

%

(0.8

%)

N/A

 

3.1

%

 
Operating Income
Flavors & Extracts

7.2

%

(0.3

%)

0.0

%

7.5

%

Color

16.8

%

(1.0

%)

0.0

%

17.8

%

Asia Pacific

10.4

%

2.9

%

0.0

%

7.5

%

Corporate & Other

12.3

%

0.0

%

4.2

%

8.1

%

Total Operating Income

12.3

%

(0.3

%)

(1.0

%)

13.6

%

Diluted Earnings Per Share

15.8

%

0.0

%

(0.2

%)

16.0

%

Adjusted EBITDA

11.7

%

(0.4

%)

N/A

 

12.1

%

 
(3) Adjustments consist of Portfolio Optimization Plan costs.
 
Sensient Technologies Corporation
(In thousands, except percentages)
(Unaudited)
 
Reconciliation of Non-GAAP Amounts – Continued
The following table summarizes the reconciliation between Operating Income (GAAP) and Adjusted EBITDA for the three and six months ended June 30, 2025 and 2024.
 

Three Months Ended June 30,

 

Six Months Ended June 30,

 

 

 

 

 

 

 

 

 

 

 

2025

 

2024

 

% Change

 

2025

 

2024

 

% Change

Operating income (GAAP)

$

57,706

 

$

49,657

 

16.2

%

$

111,236

$

99,063

12.3

%

Depreciation and amortization

 

15,260

 

 

15,016

 

 

30,334

 

29,725

Share-based compensation expense

 

3,739

 

 

2,916

 

 

6,639

 

4,911

Portfolio Optimization Plan costs, before tax

 

3,339

 

 

1,752

 

 

6,203

 

4,564

Adjusted EBITDA

$

80,044

 

$

69,341

 

15.4

%

$

154,412

$

138,263

11.7

%

 
 
The following table summarizes the reconciliation between Debt (GAAP) and Net Debt, and Operating Income (GAAP) and Credit Adjusted EBITDA for the trailing twelve months ended June 30, 2025 and 2024.
 

June 30,

Debt

2025

 

2024

Short-term borrowings

$

26,280

 

$

26,995

 

Long-term debt

 

710,119

 

 

634,663

 

Credit Agreement adjustments(4)

 

(43,393

)

 

(18,034

)

Net Debt

$

693,006

 

$

643,624

 

 
Operating income (GAAP)

$

203,752

 

$

151,657

 

Depreciation and amortization

 

60,938

 

 

58,955

 

Share-based compensation expense

 

11,812

 

 

9,078

 

Portfolio Optimization Plan costs, before tax

 

8,270

 

 

32,405

 

Other non-operating gains(5)

 

(816

)

 

(872

)

Credit Adjusted EBITDA

$

283,956

 

$

251,223

 

 
Net Debt to Credit Adjusted EBITDA 2.4x 2.6x
 
(4) Adjustments include cash and cash equivalents, as described in the Company’s Fourth Amended and Restated Credit Agreement (Credit Agreement), and certain letters of credit and hedge contracts.
(5) Adjustments consist of certain financing transaction costs, certain non-financing interest items, and gains and losses related to certain non-cash, non-operating, and/or non-recurring items as described in the Credit Agreement.
 
We have included each of these non-GAAP measures in order to provide additional information regarding our underlying operating results and comparable period-over-period performance. Such information is supplemental to information presented in accordance with GAAP and is not intended to represent a presentation in accordance with GAAP. These non-GAAP measures should not be considered in isolation. Rather, they should be considered together with GAAP measures and the rest of the information included in this release and our SEC filings. Management internally reviews each of these non-GAAP measures to evaluate performance on a comparative period-to-period basis and to gain additional insight into underlying operating and performance trends, and we believe the information can be beneficial to investors for the same purposes. These non-GAAP measures may not be comparable to similarly titled measures used by other companies.

Category: Earnings

Source: Sensient Technologies Corporation

Contacts

David Plautz

(414) 347-3706

investor.relations@sensient.com