NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

 

Grünenthal announces pricing of €500 million bond

Aachen, Germany, 27 November 2024 – Grünenthal GmbH (the “Company”) announces the pricing of €500 million aggregate principal amount of 4.625% senior secured notes due 2031 (the “Notes”). The Notes will be issued at 100.0%. The Notes were offered outside the United States in reliance on Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). In the United States, the Notes were offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act.

The Notes were rated ‘BB+’, ‘BB-‘ and ‘B1’ by the three major independent credit rating agencies Fitch Ratings, Standard & Poor’s and Moody’s Investors Service respectively.

This new financing will enhance Grünenthal’s capital structure and its maturity profile.

The Company will use the proceeds from the Notes to refinance the €100 million outstanding under its revolving credit facility and to repurchase its outstanding notes due 2026 held in reliance on Regulation S under the Securities Act.

This Notes issue follows Grünenthal successfully extending the maturity and upsizing of its €600 million revolving credit facility in November. The offering of the Notes is expected to close on 6 December 2024.

—

These materials are not an offer for sale of securities. The offering is being made by means of an offering memorandum. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other security and shall not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.

The Notes and the related guarantees have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold within the United States, or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws. Accordingly, the Notes and the related guarantees are being offered and sold (i) in the United States only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and (ii) in “offshore transactions” to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom, (ii) persons who are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (iii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order, or (iv) any persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or cause to be communicated (all such persons together being referred to as “relevant persons”). The investments to which this press release relates are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this press release or any of its contents.

The offer and sale of the Notes will be made pursuant to an exception under the Prospectus Regulation from the requirement to produce a prospectus for offers of securities. This press release does not constitute a prospectus within the meaning of the Prospectus Regulation or an offer to the public.

Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail investors in EEA.

The distribution of this press release into certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of any such jurisdiction.

 

Forward-looking statements

This news release may include “forward-looking statements” within the meaning of the securities laws of certain applicable jurisdictions. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this news release, including, without limitation, those regarding the Company’s intentions, beliefs or current expectations concerning, among other things: the Company’s future financial conditions and performance, results of operations and liquidity; the Company’s strategy, plans, objectives, prospects, growth, goals and targets and future developments in the markets in which the Company participates or is seeking to participate. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipate”, “believe”, “continue”, “ongoing”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “target”, “seek” or, in each case, their negative, or other variations or comparable terminology. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking statements are not guarantees of future performance and that the Company’s actual financial condition, results of operations and cash flows, and the development of the industry in which the Company operates, may differ materially.

 

About Grünenthal

Grünenthal is a global leader in pain management and related diseases. As a science-based, fully integrated pharmaceutical company, we have a long track record of bringing innovative treatments and state-of-the-art technologies to patients worldwide. Our purpose is to change lives for the better – and innovation is our passion. We are focusing all our activities and efforts on working towards our vision of a World Free of Pain.

Grünenthal is headquartered in Aachen, Germany, and has affiliates in 27 countries across Europe, Latin America, and the U.S. Our products are available in approx. 100 countries. In 2023, Grünenthal employed around 4,400 people and achieved revenues of €1.8 billion.

 

More information: www.grunenthal.com

Follow us on:

LinkedIn: Grunenthal Group

Instagram: grunenthal

 

For further information, please contact:

Andrew Duncan, Deputy Head of Treasury and Head of Investor Relations Tel.: +49 241 569 2073 Andrew.Duncan@grunenthal.com Grünenthal GmbH, 52099 Aachen, Germany   Florian Dieckmann, Head Global Corporate Affairs Tel.: +49 241 569 2555 Florian.Dieckmann@grunenthal.com Grünenthal GmbH, 52099 Aachen, Germany

 

Berlin, 27 November 2024. Eckert & Ziegler Radiopharma GmbH (Eckert & Ziegler) today received approval of its proprietary non-carrier added Lutetium-177 chloride, Theralugand^®, by the European Commission (EC). This enables the use of the radiopharmaceutical medicinal product Theralugand^® in routine clinical applications throughout the European Economic Area (EEA).

Theralugand^® provides high-purity Lutetium-177 produced in compliance with GMP standards with specifications designed for the labelling of therapeutic radiopharmaceuticals. The approval unlocks its potential to support innovative cancer therapies such as those targeting neuroendocrine tumors and metastatic prostate cancer. The previous, GMP-certified Lutetium-177 was limited to investigational use in clinical studies.

Eckert & Ziegler collaborates with pharmaceutical companies worldwide to develop and manufacture Lutetium-177-based radiopharmaceuticals, furthering the reach of targeted radiotherapies for the global market. Through these partnerships, Eckert & Ziegler plays a vital role in providing innovative cancer treatments.

“We are excited to achieve the EC approval for Theralugand^®, a critical step in making innovative treatment options widely available for clinical applications across Europe,” said Dr. Harald Hasselmann, CEO of Eckert & Ziegler SE. “This accomplishment reflects our dedication to the production and distribution of reliable therapeutic radiopharmaceuticals.”

Eckert & Ziegler is gearing up to meet the rising global demand for Lutetium-177 by actively expanding production capacities, ensuring a stable supply of this critical therapeutic radioisotope.

About Eckert & Ziegler SE
Eckert & Ziegler SE, with more than 1,000 employees, is a leading specialist in isotope-related components for nuclear medicine and radiation therapy. The company offers a broad range of services and products for the radiopharmaceutical industry, from early development work to contract manufacturing and distribution. Eckert & Ziegler SE shares (ISIN DE0005659700) are listed in the TecDAX index of Deutsche Börse.
Contributing to saving lives.

Contact
Eckert & Ziegler SE
Robert-Rössle-Str. 10, 13125 Berlin, Germany
Jan Schöpflin, Marketing / Karolin Riehle, Investor Relations
jan.schoepflin@ezag.de / karolin.riehle@ezag.de
Tel.: +49 (0) 30 / 94 10 84-138; www.ezag.com

Korneuburg, Austria, November 26, 2024 – Marinomed Biotech AG (the “Company”) announces the signing of an agreement for the sale of its Carragelose business to French Unither Pharmaceuticals (“Unither”), a leading contract development and manufacturing organization (CDMO) of medical devices and pharmaceutical products. The contract provides for upfront and milestone payments of total up to EUR 20 million, depending on the achievement of defined commercial and operational targets, over the next two years. As part of the agreement, Marinomed and Unither intend to enter into a transition service agreement at completion of such transaction. The proceeds from the sale of the Carragelose business are planned to finance both the operating business, with increased focus on the Marinosolv platform, and the restructuring plan agreed upon with the Company’s creditors on November 14, 2024. The closing of the contract is inter alia subject to the successful completion of the restructuring proceedings, the approval by the Company’s Supervisory Board and shareholders at an extraordinary general meeting. 

+++ End of ad-hoc announcement +++
 

Immunic, Inc. to Participate in Investor Conference in December 

NEW YORK, November 26, 2024 – Immunic, Inc. (Nasdaq: IMUX), a biotechnology company developing a clinical pipeline of orally administered, small molecule therapies for chronic inflammatory and autoimmune diseases, today announced that Daniel Vitt, Ph.D., Chief Executive Officer of Immunic, will participate in a fireside chat on Thursday, December 5, 2024, at 11:30 am ET, during the Piper Sandler 36th Annual Healthcare Conference, taking place December 3-5, 2024, in New York.

Dr. Vitt, Glenn Whaley, Chief Financial Officer, and Jessica Breu, Vice President Investor Relations and Communications, will also participate in one-on-one investor meetings at the conference. To schedule a meeting, please contact your Piper Sandler representative or Jessica Breu at: jessica.breu@imux.com.

A webcast of the event will be available on the “Events and Presentations” section of Immunic’s website at: https://ir.imux.com/events-and-presentations. An archived replay will be available on the company’s website for a period of 90 days after the conference.

About Immunic, Inc.

Immunic, Inc. (Nasdaq: IMUX) is a biotechnology company developing a clinical pipeline of orally administered, small molecule therapies for chronic inflammatory and autoimmune diseases. The company’s lead development program, vidofludimus calcium (IMU-838), is currently in phase 3 and phase 2 clinical trials for the treatment of relapsing and progressive multiple sclerosis, respectively, and has shown therapeutic activity in phase 2 clinical trials in patients suffering from relapsing-remitting multiple sclerosis, progressive multiple sclerosis and moderate-to-severe ulcerative colitis. Vidofludimus calcium combines neuroprotective effects, through its mechanism as a first-in-class nuclear receptor related 1 (Nurr1) activator, with additional anti-inflammatory and anti-viral effects, by selectively inhibiting the enzyme dihydroorotate dehydrogenase (DHODH). IMU-856, which targets the protein Sirtuin 6 (SIRT6), is intended to restore intestinal barrier function and regenerate bowel epithelium, which could potentially be applicable in numerous gastrointestinal diseases, such as celiac disease, for which it is currently in preparations for a phase 2 clinical trial. IMU-381, which currently is in preclinical testing, is a next generation molecule being developed to specifically address the needs of gastrointestinal diseases. For further information, please visit: www.imux.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, sufficiency of cash and cash runway, expected timing, development and results of clinical trials, prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to management’s and employee’s participation in investor conferences. Immunic may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management’s current expectations and involve substantial risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, the COVID-19 pandemic, increasing inflation, impacts of the Ukraine – Russia conflict and the conflict in the Middle East on planned and ongoing clinical trials, risks and uncertainties associated with the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient financial and other resources to meet business objectives and operational requirements, including the ability to satisfy the minimum average price and trading volume conditions required to receive funding in tranche 2 and 3 of the January 2024 private placement, the fact that the results of earlier preclinical studies and clinical trials may not be predictive of future clinical trial results, the protection and market exclusivity provided by Immunic’s intellectual property, risks related to the drug development and the regulatory approval process and the impact of competitive products and technological changes. A further list and descriptions of these risks, uncertainties and other factors can be found in the section captioned “Risk Factors,” in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 22, 2024, and in the company’s subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov or ir.imux.com/sec-filings. Any forward-looking statement made in this release speaks only as of the date of this release. Immunic disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made. Immunic expressly disclaims all liability in respect to actions taken or not taken based on any or all the contents of this press release. 

Contact Information

Immunic, Inc.
Jessica Breu
Vice President Investor Relations and Communications
+49 89 2080 477 09
jessica.breu@imux.com

US IR Contact
Rx Communications Group
Paula Schwartz
+1 917 633 7790
immunic@rxir.com

US Media Contact
KCSA Strategic Communications
Caitlin Kasunich
+1 212 896 1241
ckasunich@kcsa.com

Viromed Medical AG: cold plasma as a digital antibiotic for the lungs

• Innovative prevention measure for ventilator-associated pneumonia reaches next stage
• Use of cold plasma can prevent tens of thousands of deaths in Germany alone
• Study led by expert from the renowned research network BREATH, Hortense Slevogt

Pinneberg, 26 November 2024 – Viromed Medical AG (Ticker: VMED; ISIN: DE000A3MQR65; “Viromed”) is pushing forward research into cold plasma for the prevention of ventilator-associated pneumonia (VAP). Under the scientific direction of the outstanding expert Prof. Dr. Hortense Slevogt, BREATH scientist at the Hannover Medical School, the innovative project is investigating the safety and efficacy of cold plasma to kill bacteria in the respiratory tract for approval as a therapy.

The official announcement of the BREATH research network in this regard was published on November 22, 2024.

The renowned expert network BREATH (Biomedical Research in End-stage and Obstructive Lung Disease Hannover) is one of the five sites of the German Center for Lung Research (DZL) and uniquely unites internationally recognized expertise in translational respiratory medicine. The research network consists of the four strong partners Hannover Medical School, Leibniz Universität Hannover, Fraunhofer ITEM and CAPNETZ FOUNDATION.

VAP is a common and serious complication in mechanically ventilated patients, occurring in patients who are invasively ventilated for at least 48 hours. Studies show that VAP affects 23–36% of mechanically ventilated patients and is associated with prolonged ventilation, extended ICU and hospital stays, and an estimated mortality rate of 10–13%. In Germany alone, approximately 486,000 patients required mechanical ventilation in ICUs in 2023, highlighting the need for VAP prevention measures.

Uwe Perbandt, CEO of Viromed Medical AG, explained: “Even in the past, people often did not die from injuries but from the infections that followed. Today, we are heading towards a similar scenario. Due to the increasing resistance of germs, many people can no longer be helped. An infection is synonymous with death. Furthermore, antibiotics in the human body sometimes take days to reach the source of the disease. We do not have these problems with cold plasma. It can reach the site of infection within a few minutes and destroy pathogens – including those that are already resistant to antibiotics – just as quickly. The most important advantage is that cold plasma destroys germs physically. And there can be no resistance to that. So, if the efficacy and safety of cold plasma continue to be confirmed in the course of the study, which I firmly believe they will, we have here, in effect, a ‘digital antibiotic’ that will take us a big step forward in the fight against many diseases. This way, we can save tens or even hundreds of thousands of lives. In my opinion, this asset can increase the value of the AG significantly. Since BREATH published the news on Friday, we have already received numerous international inquiries.”

Prof. Dr. Hortense Slevogt, Clinic for Pneumology and Infectiology, MHH: “Ventilator-associated pneumonia not only has a high mortality rate but also places a significant burden on the healthcare system due to increased antibiotic use, longer patient stays, and higher treatment costs. The growing antibiotic resistance of pathogens makes new, non-antibiotic approaches urgently necessary. If the positive preliminary results of our study are confirmed, cold plasma could revolutionize the treatment of ventilated patients.”

 

About Viromed Medical AG:

Viromed Medical AG specializes in the development, manufacture and distribution of medical products. The operating business of the company, which has been listed on the stock exchange since October 2022, focuses on the distribution of innovative cold plasma technology for medical applications via its wholly owned subsidiary Viromed Medical GmbH. Viromed can draw on a broad customer base in the DACH region, including DAX companies such as Volkswagen and Lufthansa, state and federal authorities and ministries as well as 1,100 hospitals, 7,000 pharmacies and 11,000 medical practices.

Cold atmospheric plasma (CAP) has been scientifically proven to inactivate harmful viruses, fungi and bacteria and has the potential to revolutionize conventional treatment methods in a wide variety of areas. Viromed Medical AG is doing important pioneering work in this field. The clearly superior CAP is already being used to treat difficult-to-heal wounds. Viromed is currently conducting clinical trials for use in pulmonary medicine. Viromed Medical AG is pursuing the goal of further advancing the use of CAP in medicine in the coming years and realizing the corresponding growth potential.

 

Contact Viromed Medical AG

Uwe Perbandt
CEO
Flensburger Strasse 18
25421 Pinneberg
Germany
Email: kontakt@viromed-medical.de
www.viromed-medical-ag.de

The European hemp and cannabis group SYNBIOTIC SE (ISIN DE000A3E5A59 | WKN A3E5A5) announces the integration of greensby with the acquisition of 50.2 % of the shares. This strategic move creates a unique platform that bundles all of the Group’s products and services and comprehensively covers the entire hemp and cannabis market.

greensby is a central platform that connects patients, pharmacies, telemedicine providers and consumers and enables the comparison of cannabis products. Following its integration into SYNBIOTIC, greensby is now expanding its range to include hemp products and cultivation accessories for recreational cannabis, offering up to 4,000 products. This makes greensby a comprehensive point of contact for all hemp and cannabis-related needs.

Only greensby compares in this way

greensby is one of the largest comparison portals for medicinal cannabis in Europe. Here, users can find information on all the prices of the most popular pharmacies and also find separate subpages for each strain with useful information, batch-dependent cannabinoid and terpene profiles. The sophisticated rating system also allows users to find a strain that has already helped other people with similar symptoms. The aim is to make greensby the most visited portal in the cannabis industry.

“A question that has been driving me for some time: What if a single platform could unite all the needs of the hemp and cannabis industry? With greensby, we’re making that possible,” explains Emilio Ropero, CCO SYNBIOTIC. “From cannabis patients to consumers – we are creating an interface to optimally cover the needs of all market participants.

The greensby platform is user-friendly, customer-orientated and indexes the entire market. This makes it an absolute added value in terms of marketing for everyone involved – from consumers to our partners and investors.”

Everything under one roof

For pharmacies, greensby offers a comprehensive solution that significantly simplifies entry into the medical cannabis market. In addition to a comprehensive database with information on products, terpene profiles and batches, user-friendly software with integrated inventory, payment options and interfaces to wholesalers is available. All processes, from ordering to delivery, are efficiently organised also thanks to the logistical connection to partners such as DHL and GO. In addition, training is offered for pharmacy staff to ensure that they are always up to date.

Prescribers of cannabis medicines, including telemedicine practitioners, benefit from trustworthy information on medicinal cannabis and a daily updated inventory overview of pharmacies. This enables better care for patients and significantly reduces waiting times for required medication.

Patients are at the centre of greensby. The platform simplifies the entire process, from the consultation with the doctor to the delivery of medication. Patients can compare and evaluate strains and view their availability in pharmacies. A specially developed digital assistant supports the selection of strains and, if desired, refers patients directly to prescribers of cannabis medicines.

Daniel Kruse, Managing Director of SYNBIOTIC, emphasises: “Our absolutely unique selling point is that our buy-and-build strategy unites the entire industry on one platform – and we are now also presenting this in digitalised form on greensby.de. There is nothing like this on the market yet. We are creating a transparent, optimised and accessible solution for everyone involved.”

Adam Szajcz, CEO of greensby, adds: “With greensby, we are facilitating communication and interaction across the entire industry. Among other things, we are connecting hundreds of pharmacies and creating Germany’s largest community for cannabis patients. We will be releasing a new version of our platform in December, on which we will also integrate the other business areas of the SYNBIOTIC Group.”

Shaping the future together

With the integration of greensby, SYNBIOTIC is taking a decisive step towards digitalisation and increased efficiency. The platform invites the community, partners and investors to play an active role in shaping the future of the industry. It is more than just a project – greensby is part of the future of the hemp and cannabis industry.

Publisher
SYNBIOTIC SE
Daniel Kruse
Managing Director
Münsterstrasse 336
40470 Düsseldorf
Germany

Media contact
Rüdiger Tillmann
SYNBIOTIC
Public Relations Manager
E-mail ruediger.tillmann@synbiotic.com
Mobile +49 170 9651451
c/o JOLE.group

About SYNBIOTIC
SYNBIOTIC is a publicly listed group of companies in the hemp and cannabis sector with a buy-and-build investment strategy focussed on the EU.
The Group covers the entire value chain from cultivation to production and retail – from the field to the shelf. The subsidiaries’ core businesses are research and development, production and the commercialisation of hemp, CBD and cannabis products.
SYNBIOTIC is pursuing a clear pan-European strategy to further expand along the value chains of its business areas – hemp and CBD, medical cannabis and consumer cannabis – and thus cover the relevant growth markets while increasing opportunities for investors through diversification.

Ad hoc: Comment on withdrawn non-binding offer

Hamburg, Germany – Evotec SE (Frankfurt Stock Exchange: EVT, SDAX/TecDAX, Prime Standard, ISIN: DE 000 566480 9, WKN 566480; NASDAQ: EVO)

Evotec SE has taken notice of the statement made by Halozyme Therapeutics Inc. on 22 November, stating that it has withdrawn its non-binding proposal to acquire Evotec SE (NASDAQ: EVO) (“Evotec”) for EUR11.00 per share in cash.

The Management Board and Supervisory Board of Evotec, together with its advisors, have been in the process of thoroughly assessing the Non-Binding Proposal submitted by Halozyme in a letter dated 13 November 2024, in which it expressed an interest in a combination of Halozyme with Evotec.

The Management Board and Supervisory Board continue to have strong conviction in the Company’s standalone strategy, which is expected to accelerate growth, strengthen the long-term profitability of the Company and deliver significant value to shareholders.

– End of the ad hoc release –

Contact: Volker Braun, EVP Head of Global Investor Relations & ESG, Evotec SE, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49 (0) 151 1940 5058 (m), volker.braun@evotec.com

Vita 34 continues to show increasing revenue, improved profitability and stronger cash generation in the third quarter of 2024

• Revenue up 6.3 percent to EUR 60.3 million for the first nine months of 2024
• EBITDA grows by 77.5 percent to EUR 6.4 million, also driven by positive one-time effects
• EBITDA margin returns to double-digit level at 10.6 percent
• Strong operating cash flow of EUR 7.8 million, up 61.1 percent

Leipzig, 22 November 2024 – Vita 34 AG, the leading cell bank in Europe and the third largest worldwide, accelerated its revenue growth rate and earnings in the third quarter of 2024 despite the prolonged challenging macroeconomic environment.

Revenues for the first nine months of 2024 increased by 6.3 percent year-on-year to EUR 60.3 million (9M 2023: EUR 56.7 million). The net amount of invoiced services in the end customer business (B2C) rose by an even higher 12.4 percent to EUR 55.3 million (9M 2023: EUR 49.2 million), with the share of this attributable to annual recurring payments increasing by 6.5 percent to EUR 16.6 million (9M 2023: EUR 15.6 million). “Our churn rate remains well below 1 percent,” Thomas Pfaadt, CFO of Vita 34 AG adds. “This pays in on our solid multi-year contract base, which keeps generating high levels of cash flows for the years to come.”

With an overall positive business performance, the situation on the individual European markets in the new customer business remains mixed. Important markets such as Germany and Portugal continued to show weakness in the third quarter whilst Switzerland, Spain, Romania and – once again – the GCC region developed positively. “In general, the overall low market penetration of cell banking in the markets we operate in offers a huge opportunity for us. Germany, the UK and Turkey are still showing penetration rates far below 1 percent compared to Romania, Portugal and Hungary with more than 5 percent.” explains Jakub Baran, CEO of Vita 34 AG. “Overall, we are optimistic about the fourth quarter and beyond and hope to return to past performance in the near future.”

EBITDA increased significantly by 77.5 percent year-on-year to EUR 6.4 million (9M 2023: EUR 3.6 million). The EBITDA was positively impacted by a special effect of EUR 1.4 million from new agreements with the US licensor of the CAR-T technology. Despite growing investments in marketing and sales in the third quarter as a result of the marketing offensive launched, the Company was able to keep a firm grip on costs and realize potential savings. Important steps were also taken in the third quarter as part of the Group-wide integration efforts. Further core processes in the Company were digitalized.

The key figures for business development are as follows:

	IFRS, in EUR `000	Q3	Q3	Q3	9M	9M	9M
		2024	2023	∆	2024	2023	∆
	Revenues	22,232	20,412	8.9%	60,262	56,682	6.3%
	Gross profit	8,586	8,939	-4.0%	22,679	21,360	6.2%
	EBITDA	3,636	2,039	78.3%	6,371	3,590	77.5%
	EBITDA margin	16.4%	10.0%	+6.4 PP	10.6%	6.3%	+4.3 PP
	EBIT	1,453	-89	>100%	-282	-2,823	90.0%
	Result for the period	1,112	-1,606	>100%	-1,255	-5,830	78.5%
	Earnings per share [EUR]	0.06	-0.10	>100%	-0.06	-0.35	82.9%
	Operating cash flow	—	—	—	7,789	4,834	61.1%
	Cash & cash equivalents (vs. 31 Dec. 2023)	—	—	—	17,626	17,416	1.2%

Cash flow from operating activities continued to increase, and rose by 61.1 percent to EUR 7.8 million (9M 2023: EUR 4.8 million). As in the previous quarters, high demand for prolongations of expiring contracts contributed to this. Cash and cash equivalents also continued to develop positively at EUR 17.6 million, underpin the Group’s sustained solid financial position.

Furthermore the Company continues to see a growing demand on the customer side for higher-value product bundles. Based on the positive experience from the Swiss and GCC markets, the Company decided to roll-out placenta tissue banking in Poland and Romania. Given the high demand currently seen at market launch, it is planned to roll out placenta banking across all of Europe. In parallel, several initiatives regarding partnerships in cell therapies with clinical centers and hospitals have been started. Vita 34 is recognized as a reliable partner in the industry providing services of collection, testing, processing and storage of perinatal tissue.

The Management Board maintains its full year guidance of revenues between EUR 81 million and EUR 88 million and EBITDA of EUR 6.5 million to EUR 8.0 million. The guidance is based on a constant exchange rate of the euro against the Polish zloty and other currencies (HUF, RON, TRY, GBP) compared to 29 April 2024.

The Management Board of Vita 34 AG will be available to institutional investors, analysts and representatives of the press today at 11:00 a.m. in a video conference to provide additional information on business development. Registration for this is by e-mail via the Investor Relations department (ir@vita34.de).

Contact:
Vita 34 AG
Investor Relations
Phone: +49 (0341) 48792 – 40
Email: ir@vita34.de

Company Profile

Vita 34 was founded in Leipzig in 1997 and today is by far the leading cell bank in Europe and the third largest worldwide. As the first private umbilical cord blood bank in Europe and a pioneer in cell banking, the company has since offered the collection logistics, processing and storage of stem cells from umbilical cord blood, umbilical cord tissue and other postnatal tissues as a full-service provider for cryopreservation. The donor’s own cells are a valuable starting material for medical cell therapy and are kept alive in the vapor of liquid nitrogen. Customers from about 50 countries have already provided for the health of their families with about one million units of stored biological material at Vita 34. Furthermore, the Company is active in the areas of Cell & Gene therapies and CDMO.

(Hong Kong, 21 November 2024) – Modern Dental Group Limited (the “Modern Dental Group” or the “Group”, Stock Code: 03600.HK), a leading global dental prosthetics provider, is pleased to announce the acquisition (“the acquisition”) of 74% shares in Hexa Ceram Dental Laboratory (“Hexa Ceram”) – the largest dental laboratory in terms of market share in Thailand. The acquisition builds on the Group’s strategy in expanding distribution networks and penetration into new geographic markets and utilizing Hexa Ceram as a production base for Southeast Asia, which helps reinforce the Group’s global leadership in the ever-evolving dental industry.

 

Expansion of Market Reach in the Global Distribution Network

Hexa Ceram Dental Laboratory is the largest dental laboratory in Thailand, with a substantial market share of 28% during the year of 2022. It has been the pioneer in the industry for nearly 30 years and is dedicated to providing high-quality dental prosthetics to dentists, with a team of over 900 qualified dental technicians and the biggest sales team in 12 branches over Thailand. Hexa Ceram has demonstrated a solid performance which realized its net sales growth with a CAGR of 23% over the financial years 2020 to 2023; and the profitability with an EBITDA margin of 21% and a net profit margin of 18% in 2023. Upon the acquisition, the Group has significantly increased market share and strengthened its market position in Southeast Asian countries.

 

The Group will fully leverage Hexa Ceram’s strong market position and close connection with dental universities in Thailand to expand its local market reach. By utilizing the established skilled workforce in the laboratory, the Group will further enhance production flexibility, diversify the risk of concentration of production centers and enhance its overall production efficiency. By utilizing Hexa Ceram as a production base for the Southeast Asia market, the acquisition sets a significant milestone in the business journey of the Group, providing it with the resources and customer base necessary to enhance its product offerings and expand the market reach.

 

Unleashing the Full Potential to Develop in the Emerging Markets

Southeast Asia is a dynamic and rapidly evolving region with rising demand for dental services which is significantly influenced by increasing awareness of dental health, rising disposable income and expanding middle class in Southeast Asian countries. Thailand is well-established as a medical tourism hub and the robust healthcare infrastructure, provides unparalleled advantages and cultural diversity to serve as a convenient access point for neighboring countries.

 

The acquisition underscores Modern Dental Group’s commitment and determination to develop in the emerging markets and allows streamlined expansion of customer base and brand presence in Southeast Asia. The Group aims to unleash the full potential of its competitiveness to provide high-quality dental services at competitive prices. Upon the completion of the acquisition, the Group is positioned to enhance its coverage and penetration in the surrounding markets and provide high-quality and innovative dental solutions and services, given the established and growing presence in ASEAN Economic Community including Laos, Cambodia and Myanmar by Hexa Ceram. The Group is poised to unlock substantial growth opportunities and deliver even greater value to its customers.

 

Strategic M&A Strengthened the Group’s Competitive Edge

Since 2011, the Group has tactically expanded its global sales and distribution network across Europe, North America and Asia Pacific through a series of strategic acquisitions. Currently, Modern Dental Group has established a global sales network covering more than 23 countries. The Group’s expansive global presence allows the Group to deliver cutting-edge innovation and solutions to dentists around the world. It is believed that the streamlined operations and integrated supply chain through the acquisition will lead to improved efficiencies in sales and distribution, empower the Group a wider customer demographic to better meet the global demand and enhance its resilience to uncertainty in the macro environment.

 

Future Prospect

The management of Modern Dental Group stated, “We are delighted to welcome the team from Hexa Ceram. The combined extensive experience and network from Hexa Ceram enables us to be a more competitive, growth-oriented dental solutions provider in the evolving industry. We are well-positioned to deliver greater value for dentists and partners, as well as providing compelling alternatives in the new era of technological innovation to meet customers’ needs that exceed their expectations.”

 

The acquisition is an important step in the Group’ global expansion strategy. It has not only strengthened its presence over core markets in Southeast Asia but also enhanced the stability of its global supply chain and distribution network. Going forward, customers will benefit from a more competitive portfolio of solutions supported by the Group’s multifaceted dental ecosystem. The Group will continue to integrate global resources and technology to offer superior dental products and services, reinforcing the leading position in the global market.

 

About Modern Dental Group

Modern Dental Group Limited (Stock code: 03600.HK) is a leading global dental prosthetics provider, distributor and consultant with a focus on providing custom-made prostheses to customers in the growing prosthetics industry. Our product portfolio is broadly categorized into three product lines: fixed prosthetic devices, such as crowns and bridges; removable prosthetic devices, such as removable dentures; and other devices, such as orthodontic devices, sports guards, clear aligners, and anti-snoring devices.

 

Modern Dental Group has a global portfolio of respected brands, including Labocast, Permadental and Elysee Dental in Western Europe, YZJ Dental in China, Modern Dental Lab in Hong Kong, Modern Dental USA in the United States, and Southern Cross Dental in Australia. We have grown these brands by providing premium and consistent quality products and superior customer service. We have more than 80 service centers in over 23 countries and serve over 30,000 customers.