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Cellnovo. (1/17/18). "Press Release: Cellnovo Announces Its Q4 and Full Year 2017 Sales". Paris.

Organisations Organisation Cellnovo Group S.A. (Euronext: CLNV)
  Group Cellnovo (Group)
  Organisation 2 Flextronics (d/b/a Flex) (Group)
Products Product Cellnovo Diabetes Management System
  Product 2 contract manfuacturing (medical devices)
Index term Index term Cellnovo–Flextronics: contract manufacturing, 201801 supply existent production of Cellnovo Diabetes Monitoring System + Cartridges by Flex
Persons Person Baratte, Sophie (Cellnovo 201602 CEO)
  Person 2 Roquet Montégon, Tristan (NewCap 201707)
     


Q4 sales in line with expectations Full year sales limited by insulin cartridge production constraints


Cellnovo Group (“Cellnovo” CLNV: EN Paris), a medical technology company marketing the first mobile, connected, all-in-one diabetes management system, today reports its revenue from sales, and its cash position at December 31, 2017.


In K euros

Annual
2017
2016
Quarterly – 3 months
Q4 2017
Q4 2016

Sales
€1,058
€1,417
€368.6
€363.2

New systems sold (units)
203
405
58
109


In 2017, Cellnovo recorded sales of €1,058 thousand, down 25.3% compared to the previous year. This decrease reflects the Company’s decision to limit the number of new patients equipped with its system as a result of limited in-house capacity to produce insulin cartridges.

Fourth-quarter sales totaled €368.6 thousand, up +1.5% compared with the fourth quarter of 2016. During the final quarter of the year, Cellnovo sold 58 new devices, bringing the total number of systems sold since launch to 832.

At December 31, 2017, Cellnovo had a cash position of €13.0 million. This figure does not include any drawdowns from the €20 million loan agreement made with the European Investment Bank in July 2017.

Sophie Baratte, Chief Executive Officer of Cellnovo, commented: “As recently announced, the implementation of the optimisation plan for the mass production line with Flex, our manufacturing partner, is on track. Although sales of new systems remain limited, recurring revenues from sales of insulin cartridges are growing. Sales over the last quarter were in line with expectations.

In parallel with efforts to reach large-scale production, we obtained, last December, the CE marking of our next generation system, a Bluetooth® and AndroidTM-enabled micro-pump for insulin delivery. We also announced the launch of the first clinical study for PEPPER, a personalised decision-support solution based on artificial intelligence for the management of diabetes. We are thus well-positioned to be a major player in innovative solutions for the management of diabetes.”

•••


About Cellnovo (Euronext: CLNV)

An independent medical technology company specialising in diabetes, Cellnovo has developed and markets the first mobile, connected, all-in-one diabetes management system that helps make life easier for patients. Compact, intuitive and entirely connected, Cellnovo’s insulin pump comprises a mobile touchscreen controller with an integrated blood-glucose meter. This unique device allows optimal management of insulin injections whilst ensuring extensive freedom of movement and peace of mind for patients. Thanks to the automatic transmission of data, it also allows the patient’s condition to be continually monitored by family members and healthcare professionals in real time. Cellnovo is currently participating in several major Artificial Pancreas projects with Diabeloop, TypeZero and Horizon 2020 to develop automated insulin delivery systems.

For more information go to www.cellnovo.com


About the Cellnovo Diabetes Management System

Compact, intuitive and entirely connected, Cellnovo’s insulin pump comprises a mobile touchscreen controller with a blood-glucose meter. This unique device allows optimal management of insulin injections whilst ensuring extensive freedom of movement and peace of mind for patients. Thanks to the automatic transmission of data, it also allows the patient’s condition to be continually monitored by family members and healthcare professionals in real time.
Cellnovo is listed on Euronext, Compartment C ISIN: FR0012633360 – Ticker: CLNV)


Cellnovo
Chief Executive Officer
Sophie Baratte
investors@cellnovo.com

NewCap
Investor Relations
Tristan Roquet Montégon
+ 33 1 44 71 00 16
cellnovo@newcap.eu

NewCap
Media Relations in France
Nicolas Merigeau
+ 33 1 44 71 94 98
cellnovo@newcap.eu

   
Record changed: 2018-03-02

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