Relief Therapeutics Provides Update on Potential Transaction with Renexxion

GENEVA (DEC. 27, 2024) – RELIEF THERAPEUTICS Holding SA (SIX: RLF, OTCQB: RLFTF, RLFTY) (Relief, or the Company), a biopharmaceutical company committed to delivering innovative treatment options for select specialty, unmet and rare diseases, today provided an update on the potential reverse merger with Renexxion, Inc. (Renexxion), a privately-held U.S.-based clinical-stage biotechnology company specializing in gastrointestinal disorders therapies.

Following the announcement of the non-binding letter of intent earlier this year, Relief and Renexxion have made significant progress in advancing their transformative partnership and both companies are working closely to ensure the transaction is structured for long-term success. Efforts have concentrated on transaction structuring and integration planning to support the combined entity’s future growth. On this foundation, the parties now anticipate signing a definitive merger agreement in Q1 2025.

“As we continue discussions with Renexxion, we are focused on leveraging the complementary strengths of both companies to maximize value for our shareholders and stakeholders,” commented Dr. Raghuram Selvaraju, chairman of the board of directors of Relief. “At the same time, we are building on the recent advancements in Relief’s core development programs, with critical milestones expected in the coming year.”

While discussions and planning are progressing positively, there can be no assurance that a definitive agreement will be reached or that the proposed transaction will be completed as planned. Completion of the transaction remains subject to customary conditions.

ABOUT RELIEF
Relief is a commercial-stage biopharmaceutical company committed to advancing treatment paradigms and delivering improvements in efficacy, safety, and convenience to benefit the lives of patients living with select specialty and rare diseases. Relief’s portfolio offers a balanced mix of marketed, revenue-generating products, proprietary, globally patented TEHCLO™ and Physiomimic™ platform technologies and a targeted clinical development pipeline consisting of risk-mitigated assets focused in three core therapeutic areas: rare skin diseases, rare metabolic disorders, and rare respiratory diseases. In addition, Relief is commercializing several legacy products via licensing and distribution partners. Headquartered in Geneva, Relief is listed on the SIX Swiss Exchange under the symbol RLF and quoted in the U.S. on OTCQB under the symbols RLFTF and RLFTY. For more information, visit www.relieftherapeutics.com.

ABOUT RENEXXION
Renexxion, Inc. is a clinical-stage biopharmaceutical company pioneering therapies for gastrointestinal (GI) disorders. Renexxion’s lead compound, naronapride, is a potential best-in-class, highly selective dual-action 5-HT4 agonist/D2-antagonist prokinetic agent designed to enhance GI motility with minimal systemic absorption. Naronapride is currently being studied in a Phase 2 clinical trial for gastroparesis in collaboration with Renexxion’s strategic European partner, a leader in GI therapeutics. Additionally, Renexxion has received FDA IND clearance for naronapride as a potential treatment for proton pump inhibitor non-responsive symptomatic gastroesophageal reflux disease (PPI-nrsGERD). Through strategic partnerships, scientific advancements, and a commitment to addressing patients with high-unmet need, Renexxion aims to redefine GI healthcare and deliver transformative solutions for millions of patients worldwide. For more information, visit www.renexxion.com.

CONTACT:
RELIEF THERAPEUTICS Holding SA
Jeremy Meinen
Chief Financial Officer
contact@relieftherapeutics.com

DISCLAIMER
This press release contains forward-looking statements, which may be identified by words such as “believe,” “assume,” “expect,” “intend,” “may,” “could,” “will,” or similar expressions. These statements are based on current plans and assumptions and are subject to risks and uncertainties that could cause actual results, financial condition, performance, or achievements to differ materially from those expressed or implied. Such factors include, but are not limited to, changes in economic conditions, market developments, regulatory changes, competitive dynamics, and other risks or changes in circumstances. This communication is provided as of the date hereof, and Relief undertakes no obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

Participants in the Solicitation: Relief and Renexxion and their respective directors and officers and other members of management and employees may be deemed participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies from Relief’s and Renexxion’s shareholders in connection with the proposed business transaction will be included in the definitive proxy statement/prospectus that Relief, Renexxion or a combined company intends to file with relevant regulatory authorities.

No Offer or Solicitation: This press release does not constitute (i) a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination or (ii) an offer to sell, a solicitation of an offer to buy, or a recommendation to buy any security of Renexxion, Relief or any of their respective affiliates. There shall not be any sale of any securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the laws of such other jurisdiction. No offering of securities in the United States shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Abivax Announces a Change to the Composition of its Board of Directors

PARIS, France, December 23, 2024, 10:05 PM CEST – Abivax SA (Euronext Paris & Nasdaq: ABVX) (“Abivax” or the “Company”), a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to modulate the inflammatory response in patients with chronic inflammatory diseases, today announced that Dr. Philippe Pouletty, representative of Truffle Capital, tendered his resignation as director of the Company effective on December 31, 2024. Dr. Philippe Pouletty’s decision is directly related to his appointment last week as Chairman and acting Chief Executive Officer of a French listed biotechnology company in the field of plastics recycling. Dr. Pouletty, also CEO of Truffle Capital, was Chairman of the Board of Directors of Abivax from the inception of the Company in December 2013 until August 2022 and has continued as a Board member since then.

Philippe Pouletty, MD said: “It is a great pride for me and Truffle Capital to have founded Abivax and to have contributed to the development of obefazimod for over a decade.  I am convinced that Abivax, led by a strong CEO, management team, and board of directors, has the potential to help hundreds of thousands of patients suffering from severe inflammatory diseases. I expect Truffle Capital to continue to be a great supporter of Abivax as a major shareholder through the next several inflection points, including the expected Phase 3 ABTECT data readout in 2025.”   

Sylvie Grégoire, PharmD, Chair of the Board of Abivax: “On behalf of the Board of Directors of Abivax I would like to thank Philippe for his numerous and significant contributions to Abivax over the past several years.  As a founder and former chairman, Dr. Pouletty has played a pivotal role in guiding the Company to the forefront of therapeutic innovation, particularly in the development of Abivax’s lead drug candidate, obefazimod, which is now in Phase 3 clinical trials for ulcerative colitis. We will initiate a search to complete the board composition with a strong candidate to contribute to the advancement of Abivax’s late-stage pipeline in IBD.”
 

About Abivax

Abivax is a clinical-stage biotechnology company focused on developing therapeutics that harness the body’s natural regulatory mechanisms to modulate the inflammatory response in patients with chronic inflammatory diseases. Based in France and the United States, Abivax’s lead drug candidate, obefazimod (ABX464), is in Phase 3 clinical trials for the treatment of moderately to severely active ulcerative colitis. More information on the Company is available at www.abivax.com. Follow us on LinkedIn and on X, formerly Twitter, @Abivax.

*****

Contact:

Patrick Malloy
SVP, Investor Relations Abivax
patrick.malloy@abivax.com
+1 847 987 4878
 

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, including those relating to the Company’s business objectives. Words such as “intend,” “may,” “would,” “will” and variations of such words and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements concerning or implying the therapeutic potential of Abivax’s drug candidates, the availability and timing of data from its clinical trials, Truffle Capital’s expected future support of the Company, the Company’s intentions regarding its search for a new Board member, and other statements that are not historical fact. Although Abivax’s management believes that the expectations reflected in such forward-looking statements are reasonable, investors are cautioned that forward-looking information and statements are subject to various risks, contingencies and uncertainties, many of which are difficult to predict and generally beyond the control of Abivax, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. A description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the French Autorité des Marchés Financiers pursuant to its legal obligations including its universal registration document (Document d’Enregistrement Universel) and in its Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 5, 2024 under the caption “Risk Factors.” These risks, contingencies and uncertainties include, among other things, the uncertainties inherent in research and development, future clinical data and analysis, decisions by regulatory authorities, such as the FDA or the EMA, regarding whether and when to approve any drug candidate, as well as their decisions regarding labelling and other matters that could affect the availability or commercial potential of such product candidates, and the availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements. Special consideration should be given to the potential hurdles of clinical and pharmaceutical development, including further assessment by the Company and regulatory agencies and IRBs/ethics committees following the assessment of preclinical, pharmacokinetic, carcinogenicity, toxicity, CMC and clinical data. Furthermore, these forward-looking statements, forecasts and estimates are made only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Abivax disclaims any obligation to update these forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law. Information about pharmaceutical products (including products currently in development) that is included in this press release is not intended to constitute an advertisement. This press release is for information purposes only, and the information contained herein does not constitute either an offer to sell or the solicitation of an offer to purchase or subscribe for securities of the Company in any jurisdiction. Similarly, it does not give and should not be treated as giving investment advice. It has no connection with the investment objectives, financial situation or specific needs of any recipient. It should not be regarded by recipients as a substitute for exercise of their own judgment. All opinions expressed herein are subject to change without notice. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.

Viromed Medical AG completes acquisition of pharmedix GmbH

• Notarial purchase agreement signed today
• Consolidated revenues are expected to multiply to a low double-digit million euro amount in fiscal year 2025.

Pinneberg, 20 December 2024 – Today, Viromed Medical AG (Ticker: VMED; ISIN: DE000A3MQR65) completed the announced acquisition of pharmedix GmbH by notarized purchase agreement. The acquisition is effective as of 1 January 2025. Following the successful acquisition of pharmedix GmbH, Viromed Medical AG now expects consolidated revenues in the low double-digit million euro range for the 2025 financial year, a significant increase over the previous year.

Contact Viromed Medical AG

Uwe Perbandt
CEO
Flensburger Straße 18
25421 Pinneberg
E-Mail: kontakt@viromed-medical.de
www.viromed-medical-ag.de

Marinomed Biotech AG: Extraordinary general meeting approves sale of Carragelose division

• Required majority of shareholders vote in favour of the sale of the Carragelose business unit
• Proceeds from the sale ensure implementation of the restructuring plan and commercialization of the Marinosolv platform
• Dr. Karl Mahler elected to the Supervisory Board

Korneuburg, Austria, 19. December 2024 – Marinomed Biotech AG (VSE:MARI) announces that the majority of shareholders approved the sale of the Carragelose business unit to the French company Unither Pharmaceuticals at today’s extraordinary general meeting. This approval is an important prerequisite for the closing of the transaction. In November 2024, Marinomed signed an agreement on the sale of the Carragelose business, which provides for upfront and milestone payments of in total up to EUR 20 million. Closing of the deal is still subject to other conditions such as approval in accordance with the Investment Control Act.

Furthermore, Dr. Karl Mahler has been elected as member of the Supervisory Board. He holds a doctorate in economics and held several leadership positions in corporate planning and investor relations, including over 20 years as Head of Investor Relations at Hoffman La Roche. After the resignation of Dr. Eva Hofstädter-Thalmann and Dr. Ulrich Kinzel, the Supervisory Board now consists of four members, two women and two men.

All other proposed resolutions of the Management Board and Supervisory Board, including the creation of new authorized and conditional capital, were also approved by large majorities.

“The shareholders’ approval of the sale of the Carragelose business is essential for the Company’s continued existence. Our strategic focus is clearly on the commercialization of the Marinosolv products Budesolv and Tacrosolv and the expansion of the Solv4U service offering. We thank our shareholders for their support and are working hard to lead the Company to profitability,” says Andreas Grassauer, CEO of Marinomed.

Further information on the extraordinary general meeting, including the voting results and the Management Board presentation can be found in the investors section of the corporate website at: https://www.marinomed.com/en/investors-esg/annual-general-meeting.

About Marinomed Biotech AG

Marinomed Biotech AG is an Austrian, science-based biotech company with a growing development pipeline and globally marketed therapeutics. The Company develops innovative patent-protected products in the therapeutic areas immunology and virology based on the platform Marinosolv® and the virus-blocking activity of Carragelose®. The Marinosolv® technology improves the solubility and bioavailability of hardly soluble compounds and is used to develop new therapeutics for autoreactive immune disorders. The virology segment includes Carragelose®-based over-the-counter (OTC) products to prevent and treat respiratory viral infections that are partnered in more than 40 countries. The Company is headquartered in Korneuburg, Austria, and is listed on the Vienna Stock Exchange (VSE:MARI). For further information, please visit: https://www.marinomed.com.

For further inquiries contact:

Disclaimer

This press release contains forward-looking statements, which are based on current views, expectations and projections of the management of Marinomed Biotech AG about future events. These forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results, performance or events to differ materially from those described in, or expressed or implied by, such statements. The current views, expectations and projections of the management of Marinomed Biotech AG may be identified by the context of such statements or words such as “anticipate,” “believe”, “estimate”, “expect”, “intend”, “plan”, “project” and “target”. Forward-looking statements are only valid as of the date they are made and Marinomed Biotech AG does not assume any obligation to update, review or revise any forward-looking statements contained in this press release whether as a result of new information, future developments or otherwise. Marinomed, Marinosolv® and Carragelose® are registered trademarks of Marinomed Biotech AG. These trademarks may be owned or licensed in select locations only.

Q4 & Financial Year 2023/2024 (July – September 2024)

DOUGLAS Group achieves strong results and strategic progress in financial year 2023/2024

• Strong performance above guidance in FY 2023/2024 (October 2023 to September 2024):
  • Group sales up 8.7% (reported) to 4.45 billion euros (like-for-like, “lfl”: +9.1%)
  • Adj. EBITDA grew 11.4% to 808.6 million euros; adj. EBITDA margin: 18.2% (PY: 17.7%)
  • Continued deleveraging: Leverage ratio of 2.8x as of 30 September 2024
  • Net income improved significantly to 84.0 million euros (PY: 16.7 million euros)
• Strong finish with Q4 top and bottom line clearly ahead of PY:
  • Group sales up 8.7% (reported) to 959.9 million euros (lfl: +9.4%), driven by continued omnichannel growth: Stores contributed 8.3% and E-Com 9.5% growth
  • Adjusted EBITDA up 10.9% to 151.5 million euros, adj. EBITDA margin: 15.8% (PY: 15.5%)
  • Quarterly net income improved significantly to 71.8 million euros (PY: -28.2 million euros)
  • FY 2024/2025 guidance: Sales expected in a range between 4.7 and 4.8 billion euros; expected increase of adj. EBITDA to between 855 and 885 million euros; average Net Working Capital (NWC) expected to amount to less than 5% of Group sales
  • Sander van der Laan, CEO DOUGLAS Group: „I am very happy that we not only delivered yet another year of excellent results, but also exceeded our upgraded guidance while at the same time making continued progress in implementing our growth strategy and ESG initiatives.”

Düsseldorf, 19 December, 2024 – The DOUGLAS Group, Europe’s number one omnichannel destination for premium beauty, has successfully concluded the financial year 2023/2024 with strong results. In the financial year that marked the company’s IPO, the DOUGLAS Group has made steady progress in implementing its growth strategy “Let it Bloom”, significantly deleveraged its balance sheet and sharpened its profile as a leading premium beauty retailer.

In the period from 1 October 2023 to 30 September 2024, the DOUGLAS Group grew sales by 8.7% to 4.45 billion euros (FY 2022/2023: 4.1 billion euros). Both store sales with 8.2% (lfl: +7.5%) and E-Com with +9.8% (lfl: +12.1%) contributed to overall growth. Adj. EBITDA amounted to 808.6 million euros – an increase of 11.4% compared to the prior financial year, and corresponding to an adj. EBITDA margin of 18.2% (FY 22/23: 17.7%). The Group achieved a significantly improved positive net income of 84.0 million euros (FY 22/23: 16.7 million euros). Free Cash Flow (FCF) increased to 524.0 million euros (FY 2022/23: 480.6 million euros).

The DOUGLAS Group therefore exceeded both its initial sales guidance of around 7% growth for the financial year as well as its revised guidance of around 8.5% after it got upgraded in July 2024 following strong first nine months of the financial year. The Group steadily moves towards achieving its mid-term earnings guidance of an expected adj. EBITDA margin of around 18.5%.

Sander van der Laan, CEO of the DOUGLAS Group, said: “I am very happy that we not only delivered yet another year of excellent results, but also managed to exceed our upgraded guidance. At the same time, we accomplished good progress in implementing our growth strategy and sustainability initiatives. Together with our significantly improved financial profile, this provides us with a strong tailwind and robust foundation to further reinforce our leading market position – now and in the years to come. As a result, we have entered the new financial year from a position of strength. Congratulations to the entire team and our four retail brands – you have truly excelled in 2023/2024.”

Strong finish to 2023/2024 provides momentum for financial year 2024/2025

From July to September 2024, the DOUGLAS Group continued to record strong omnichannel growth. Group sales improved by 8.7% (reported) to 959.9 million euros (lfl: +9.4%), to which stores contributed 8.3% and E-Com 9.5%. On a like-for-like base, store sales increased by 7.8% and E-Com by 12.8% compared to the previous year. Adj. EBITDA was up 10.9% to 151.5 million euros (FY 22/23: 136.7 million euros), corresponding to an adj. EBITDA margin of 15.8% (FY 22/23: 15.5%).

On top of a strong fourth quarter, the Group started well into the first quarter of the new financial year. Based on these results, the DOUGLAS Group expects sales to increase to 4.7 billion euros to 4.8 billion euros in the financial year 2024/2025. Growth is expected to be driven by both channels with an anticipated increase of store sales in the mid-single-digit range and an anticipated increase of E‑Com sales in the high-single-digit range. The Group expects an adj. EBITDA of 855 to 885 million euros. Average NWC is expected to amount to less than 5% of total Group sales in 2024/25.

The DOUGLAS Group further expects an increase in the consolidated net income to  225 to 265 million euros in the financial year 2024/25. This assumption is based on an improvement in the above mentioned adj. EBITDA and in the financial result due to the completed refinancing in the wake of the successful IPO, as well as depreciation and a tax rate at the average level of previous years. The expected strong increase in the consolidated net income and a continued healthy free cash flow development should result in further deleveraging. Therefore, the DOUGLAS Group makes steady progress towards achieving a leverage ratio of around 2.0x at the end of the calendar year 2025.

Sustained omnichannel success as ‘Let it Bloom’ strategy unfolds

Sales growth in the financial year 2023/2024 resulted from positive developments across all segments, with DACHNL, CEE (Central Eastern Europe) and PD/NB (Parfumdreams / Niche Beauty) growing particularly strongly and double-digit. The online channel continued to gain traction in CEE as E‑Com grew above 20% for the second consecutive year on top of double-digit growth in store sales.

Underlined by sustained strong performance across all channels and in line with the growth strategy “Let it Bloom”, the Group continues to advance its successful omnichannel model both strategically and operationally. In a multi-phase rollout over the next years – starting in early 2025 in the Netherlands –, the customer loyalty program will be fully redesigned and harmonized internationally. The new program will include new Beauty Card tiers, facilitated personalization and omnichannel shopping activation as well as additional benefits rewarding customers for purchases.

At the same time, the company continues to develop its store network: In the financial year 2023/2024, the DOUGLAS Group has opened 54 new stores and refurbished 144 existing ones (including relocations). 20 stores were closed in the same period, which included six franchise stores. This November, a new Flagship store opened in a prestige location in Zagreb, Croatia. Further upcoming strategic openings in the financial year 2024/2025 include Antwerp, Salzburg and Berlin.

Major progress in ESG initiatives

The company has achieved major milestones in all three fields of action of its sustainability strategy on its path to become a leading premium beauty retailer in sustainability:

• People: In 2024, the DOUGLAS Group was officially certified a “GREAT PLACE TO WORK” for the first time. It also achieved top positions in Forbes’ “World’s Top Companies for Women” study: The DOUGLAS Group ranked #1 among global Retail & Wholesale companies, #3 in the global cross-industry list, as well as #1 in Germany, all underlining the Group’s strong commitment to creating a work environment that empowers and inspires women.
• Planet: The DOUGLAS Group continues to successfully reduce both its energy consumption and its Scope 1 and 2 emissions and has achieved good progress in 2023/24 compared to the previous financial year as it steadily improves sustainability tracking and measuring. It further initiated the Group-wide installation of smart meters in stores and switched to organic brown B2C delivery boxes in the DACH region with the highest possible share of recycled paper (between 81% and 85%).
• Products: Based on an assessment of already 70% of its Corporate Brands range in terms of its ecological footprint, the DOUGLAS Group is confident to achieve its CO2 targets for its Corporate Brands. In May 2024, the company also defined and implemented a sustainable packaging policy for its Corporate Brands.

Start of the financial year 2024/2025

The DOUGLAS Group started well into the new financial year 2024/2025 with the important pre-Christmas sales period including additional sales highlights Singles’ Day and Beauty Friday.

Overview Financial Results

Segment Overview: DACHNL (Austria, Belgium, Germany, Switzerland, The Netherlands), France (France, Monaco), SE / Southern Europe (Andorra, Croatia, Italy, Portugal, Slovenia, Spain), CEE / Central Eastern Europe (Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia), PD/NB (Parfumdreams, Niche Beauty)

About the DOUGLAS Group

The DOUGLAS Group, with its commercial brands DOUGLAS, NOCIBÉ, Parfumdreams and Niche Beauty, is the number one omnichannel premium beauty destination in Europe. The DOUGLAS Group is inspiring customers to live their own kind of beauty by offering a unique assortment online and in around 1,880 stores. With unparalleled size and access to customers, the DOUGLAS Group is the partner of choice for brands and offers a premium range of selective and exclusive brands as well as own corporate brands. The assortment includes fragrances, color cosmetics, skin care, hair care, accessories as well as beauty services. Strengthening its successful omnichannel positioning while consistently developing superior customer experience is at the heart of the DOUGLAS Group strategy “Let it Bloom”. The winning business model is underpinned by the Group’s omnichannel proposition, leading brands, and data capabilities. In the financial year 2023/2024, the DOUGLAS Group generated sales of around 4.5 billion euros and employed around 19,200 people across Europe. The DOUGLAS Group (Douglas AG) is listed at the Frankfurt Stock Exchange.

For further information please visit the DOUGLAS Group Website.
 

Investor Contact

Stefanie Steiner
Director Investor Relations and M&A
Phone: +49 211 16847 8594
Mail: ir@douglas.de

Press Contact

Peter Wübben
SVP Group Communications & Sustainability
Phone: +49 211 16847 6644
Mail: newsroom@douglas.de

Not for release, publication or distribution, directly or indirectly, in or into the United States of America, Australia, Canada or Japan or any other jurisdiction in which such release, publication or distribution would be unlawful. The important notes at the end of this announcement need to be observed.

Cantourage Group SE exports medical craft cannabis for the first time to the growth market of Poland; cooperation with the wholesaler PharmaVitae to be expanded in 2025

Berlin, December 19, 2024 – Cantourage Group SE (hereinafter “Cantourage,” ISIN: DE000A3DSV01, www.cantourage.com), Europe’s leading listed cannabis company, is offering its high-quality cannabis products in Poland together with the Polish pharmaceutical wholesaler PharmaVitae from today on. To this end, Cantourage has signed a long-term supply contract with the company.

The partnership and distribution will begin with Cantourage’s “Mac 1,” a cannabis strain that is very popular with patients in Germany and the UK and has proven itself over many years. The collaboration is to be continuously expanded in 2025 to include additional products from the Cantourage portfolio.

“We are very pleased to be working with PharmaVitae to make it even easier for patients in Poland to access high-quality cannabis flowers safely. With our ‘Mac 1,’ we have already set new standards for the quality of medical cannabis in Germany and the UK in recent years – we are delighted to be able to continue this success story in Poland as well,” commented Bernhard Retzer, Global Sales Director at Cantourage. “In the months to come, we will be adding further varieties from our top growers to maximize our growth opportunities in the dynamic Polish market in 2025 and beyond. PharmaVitae, with its many years of experience, extensive distribution network and shared vision of ‘high-quality medical cannabis for all,’ is the ideal partner for this.”

PharmaVitae has expanded its own network of customers for medical cannabis quite quickly: Shortly before the end of 2024, it comprised more than 1,200 pharmacies (2023: approx. 400 pharmacies) that will be able to offer Cantourage products to their customers in the future. This growth demonstrates the broad demand for and acceptance of medical cannabis as a versatile pharmaceutical in Poland.

“According to our estimates, approximately 4.6 tons of medical cannabis were delivered by wholesalers to pharmacies in Poland in 2023. For 2024, we expect growth of well over 30 percent in the overall market – the 5-ton mark was already cracked by the end of September,” said Małgorzata Leman-Borsuk, CEO of PharmaVitae, in reference to the Polish market. “Cantourage has impressively demonstrated in the past that it can scale its capacities very quickly and adapt to rapidly increasing demand. In addition to the highest standards of product safety and quality, this reliability and flexibility is extremely important for us as a wholesaler to ensure flourishing and sustainable business relationships in this growth field.”

About Cantourage

Cantourage is a leading European producer and distributor of cannabis flowers and cannabis-based medicinal preparations and drugs. The Berlin-based company was founded in 2019 by industry pioneers Norman Ruchholtz, Dr. Florian Holzapfel and Patrick Hoffmann. With an experienced management team and its “Fast Track Access” platform, Cantourage enables producers from around the world to become part of the growing European medical cannabis market faster, easier and more cost-effectively by processing and distributing their cannabis raw materials and extracts. In this context, Cantourage ensures compliance with the highest European pharmaceutical quality standards at all times. The company offers pharmaceutical-grade products in all relevant market segments: dried flower, extracts, dronabinol and cannabidiol. Cantourage was listed on the Frankfurt Stock Exchange on 11 November 2022 and is listed under ticker symbol “HIGH.”

Further information: www.cantourage.com

About PharmaVitae
PharmaVitae is a privately owner Polish company founded in 2011 that specializes in the import and distribution of Rx and OTC pharmaceuticals, medical devices and cosmetics. The company supplies pharmacies, doctors, hospitals, clinics and drugstores throughout Poland and reported annual sales of PLN 80 million in 2023. PharmaVitae ensures efficient and reliable distribution with its modern, WDL-certified warehouse that meets all GDP requirements and can accommodate up to 2,000 pallets.

Further information: https://pharmavitae.com.pl/

This announcement does not constitute a public offer or an advertisement for a public offer to sell securities, in particular not within the meaning of Regulation (EU) 2017/1129 (Prospectus Regulation).

Press contact at Cantourage:

Frederick Steudemann
Tel. +49 (0)30 4701 350 – 50
steudemann@cantourage.com

Classification of First Berlin Equity Research GmbH to MPH Health Care AG

First Berlin Equity Research hat ein Research Update zu MPH Health Care AG (ISIN: DE000A289V03) veröffentlicht. Analyst Ellis Acklin bestätigt seine BUY-Empfehlung und bestätigt sein Kursziel von EUR 108.

Zusammenfassung:
MPH meldete mit den Neunmonatskennzahlen einen guten Wertzuwachs. Der Nettoinventarwert (NAV) stieg in der 9M Periode um 20% und im Jahresvergleich um 39% auf €300 Mio. Der NAVPS bewegte im Gleichschritt dazu und landete bei €70,10. Die Aktien von M1 Kliniken legten im Zeitraum von Januar bis September um 50% zu, angetrieben von der positiven Dynamik des florierenden Prejuvination-Geschäfts. Das Management von CR Energy geht davon aus, dass sich die Ergebnisse des Jahres 2024 in das zweite Halbjahr verschieben werden, wies jedoch darauf hin, dass ihre Beteiligungen Terrabau und Solartec im ersten Halbjahr einen Gewinn von €9,5 Mio. erzielten. Die CRE-Aktien lagen im Neunmonatszeitraum rund 18% im Minus. M1 eröffnet weiterhin Schönheitskliniken (jetzt: 63 Standorte) auf dem Weg zu ihrem Ziel von 150 bis 200 Zentren bis JE29, und die CRE-Geschäftsbereiche Clean Energy und hochwertiger, erschwinglicher Wohnraum florieren trotz eines weiteren Gegenwinds für die Immobilienmärkte. Wir bekräftigen unser Kursziel von €108 und unser Kaufen-Votum.

First Berlin Equity Research has published a research update on MPH Health Care AG (ISIN: DE000A289V03). Analyst Ellis Acklin reiterated his BUY rating and maintained his EUR 108 price target.

Abstract:
MPH reported good value uplift with nine month reporting. NAV rose some 20% during the first nine months of ’24 and was up 39% Y/Y to €300m, while NAVPS moved in lockstep landing at €70.1. M1 Kliniken shares were up 50% during the January-to-September period spurred by the positive momentum of the thriving prejuvination business. Meanwhile, CR Energy management expect 2024 results to be backloaded into H2 but noted that the Terrabau and Solartec holdings racked up €9.5m in profit during H1/24. CRE shares were down around 18% at the 9M juncture. M1 continues to open clinics (now: 63) on the way to its YE29 goal of 150 to 200 centres, and CRE’s clean energy and quality, affordable housing businesses continue to flourish, despite another headwind year for the property markets. We stick to our Buy rating with an unchanged €108 TP.

Bezüglich der Pflichtangaben gem. §34b WpHG und des Haftungsausschlusses siehe die vollständige Analyse.
 

You can download the research here: http://www.more-ir.de/d/31569.pdf

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