Market capitalization multiplied by 3 since the ipo in may 2012
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– Market Capitalisation of close to 100M (more than 100M US$)
– Continued development and inking solid on the market of the trauma of the back
– Potential for profitable growth high in the next few years
Toulouse, on may 17, 2017 (18:00 CEST) – VEXIM (FR0011072602 – ALVXM / eligible PEA-PME), a medical device company, specializing in the treatment for minimally invasive vertebral fractures, today achieves a milestone, 5 years after its ipo on the Alternext market.
“In five years of listing on the Alternext market, VEXIM has achieved significant progress on all fronts. VEXIM has implemented its strategy of direct selling in Europe with success, conquering 10% of the market share in 2016 and reaching the profitability on the second half of the same year. VEXIM has also attracted and recruited more than 30 experienced and talented, who contribute every day to the sales growth of the company and to the satisfaction of our customers. We have also created value for our shareholders by tripling our market capitalization in the space of 5 years. With the american and european markets, its international expansion and its plans for the development of the product portfolio, VEXIM has a high growth potential for the coming years. We would particularly like to thank our shareholders and also those who have joined our adventure, most recently for their confidence and support, ” commented Vincent Gardès, ceo of VEXIM.
SUCCESS OF THE DEVELOPMENT IN EUROPE
In 2012, we launched our commercial strategy in Europe, with the aim of covering 90% of the market, relying on a network of direct sales. After 5 years, the results of VEXIM are considerable, with a compound average growth rate of our sales of 74% since 2011. We have conquered 10% of the european market at the end of the year 2016 [1], and today occupy the leading position in France [2], our home market. Our goal is to continue to increase our market share in Europe in the next few years, with a particular focus on Germany and all other countries of the area.
DEVELOP OUR PORTFOLIO OF PRODUCTS
The SpineJack® is the flagship product of VEXIM, and accounts for nearly 90% of sales. Over the last 5 years VEXIM has, however, expanded its portfolio and launched other products :
– Interface launched in 2014, a bone cement composed of 50% particles of hydroxyapatite and addressed to the youngest patients ;
– Masterflow launched in 2015, a sophisticated solution enabling the controlled injection of cement of high viscosity at a distance[3] secure the radiation field for procedures at multiple levels ;
– And, more recently, the Masterflow, launched in march 2017 in Germany, which allows the implementation of a procedure for the increase by controlled injection of orthopedic cement in two ways : first, by the restoration of the height of the vertebral body, and then by the stabilization of the fractures by injection of bone cement Cohesion®.
Other projects are also in development to expand the portfolio in the case of vertebral fractures, high-energy, or the origin of the tumor. This portfolio of promising products will strengthen our position and expertise in the trauma of the back.
STRENGTHENING OF THE CLINICAL PARTICULARS
We successfully completed 7 international clinical studies and 4 biomechanical studies that have confirmed the effectiveness and safety of the implant SpineJack®. These studies have led to the publication of 14 articles in scientific journals renamed [4]. The study and strengthening of the clinical data are at the heart of the concerns of VEXIM, which has been investing continuously in this area. The clinical study for FDA, clinical research and medico-economic comparing the SpineJack® to be a conservative treatment and the next clinical study in Germany to validate an application of the SpineJack® on a wider range of indications in the future, demonstrate the willingness of VEXIM to gather robust clinical data and demonstrate the benefits of its technology.
A SUCCESSFUL BUSINESS
The culture of VEXIM focused on excellence of execution of the development plan, the passion of its teams, and its customer sense, have fully contributed to the development of the company over the last 5 years. VEXIM has more than doubled the size of its teams in this period, now up to 66 people spread over all of the entities. VEXIM also relies on a team of diverse talent and experienced in the whole of its workforce. The company will continue to recruit talent throughout the world to support its projects and achieve its objectives.
A STRATEGIC DEVELOPMENT INTERNATIONAL
The technology SpineJack® there is a growing interest in the international. The SpineJack® is now marketed in more than 15 countries around the world, from Latin America and Central eastern Europe, the Middle East, Africa, South and South-East Asia. We will continue to expand our international presence by covering new markets such as Brazil, Australia, South Korea and China.
EXCELLENCE IN OPERATIONAL AND FINANCIAL
VEXIM has crossed the line of profitability with success throughout the second half of 2016 and managed to generate a situation of positive cash flow. The company has also recorded a growth of its gross margin (sales) from 59% to 72%, on average, by optimizing its production costs and its inventory process. VEXIM now aims at the achievement of the profitability on the full year 2017, and the future cash flows should enable the company to be self-financing, in line with its objectives.
Agenda projected financial communication :
Turnover of 2nd quarter 2017 July 11, 2017 [5]
About VEXIM, the specialist in the microsurgery innovative back
Based in Balma, near Toulouse, VEXIM is a medical device company founded in February 2006. Company expert in the trauma of the spine (low-and high-energy, tumor), VEXIM has specialised in the creation and commercialization of solutions for minimally-invasive to treat the pathology of trauma of the spine. Benefiting from the financial support of the shareholder of long-time Truffle Capital, [6], as well as government grants BPI, VEXIM has designed and developed the SpineJack®, a unique implant capable of repairing a fractured vertebra and restoring the balance of the spine. She has also designed the MasterflowTM, a mixer-injector of orthopedic cement of innovation which improves the accuracy of the injection, and optimizes the surgical procedure. The Company currently has 66 employees and has its own sales teams in Europe and a network of specialized distributors internationally. VEXIM has been listed on the market Alternext Paris since may 2012. For more information, visit www.vexim.com
SpineJack® [7], an implant revolutionary for the treatment of vertebral fractures
The revolutionary aspect of the SpineJack® lies in its ability to restore a fractured vertebra to its original shape, restore the anatomy is optimal to the spine and thus neutralize the pain and ensure recovery of the functional capacity of the patient. Thanks to a specialized range of instruments, inserting the implants into the vertebra is carried out using a minimally invasive surgery, under x-ray control in approximately 30 minutes, which allows the patient to get out shortly after the operation. The range of SpineJack® consists of 3 titanium implants of 3 different diameters, thus covering 95 % of vertebral fractures and all of the morphologies of the patients. The technology SpineJack® benefits from the support of expert international scientists in the field of surgery of the spine and a patent protection throughout the world until 2029.
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