ADOCIA announces its financial results for the second quarter of 2021

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Lyon, France–(COMMERCIAL THREAD) – Regulatory news:

Adocia (Euronext Paris: FR0011184241 – ADOC) (Paris: ADOC), a clinical-stage biopharmaceutical company specializing in the treatment of diabetes and other metabolic diseases with innovative formulations of proteins and peptides, today announced its figure business and second quarter net cash for the period ending June 30, 2021.

Breakdown of sales for the second quarter of 2021

In (€) thousands, IFRS standards (unaudited)

06/30/2021

(3 months)

06/30/2020

(3 months)

06/30/2021

(6 months)

06/30/2020

(6 months)

License revenues

112

68

227

521

Research and collaboration agreements

175

101

175

101

RETURNED

287

169

402

622

– The turnover is mainly due to the license agreements signed with Tonghua Dongbao (THDB) in 2018, to develop, manufacture and market BioChaperone® Lispro and BioChaperone® Combo in China and other territories in Asia and the Middle -East.

– The revenue recorded in the first half of 2021 (0.4 million euros) reflects the progress of research and development services provided by Adocia in the context of the transfer and development of products as well as additional services requested by THDB.

Net cash

The Company had cash of € 20.7 million as of June 30, 2021, compared to € 28.1 million as of December 31, 2020. Cash consumption for the first six months of 2021 was 7.4 million. euros, slightly lower than last year (EUR 7.8 million).

At June 30, 2021, the Company’s financial debt stood at € 28.1 million compared to € 28.2 million at December 31, 2020. The debt mainly consists of a financing line consisting of an issue. bond for a total of 15 million euros by IPF Partners in 2019, a loan guaranteed by the State contracted with BPI, HSBC, BNP and LCL for 7 million euros, and finally a loan guaranteed in 2016 to finance the acquisition and renovation of the building in which the Company’s head office and research center are located.

For government-guaranteed loans, the Company recently opted for an additional one-year deferral with first repayments scheduled for August 2022 and an unchanged maturity (August 2026).

Further information

This press release only contains the key financial information of the company: cash flow, financial debt and sales. The comments, milestones and progress of the project will be detailed in the press release of September 7, 2021.

About Adocia

Adocia is a clinical-stage biotechnology company specializing in the development of innovative formulations of therapeutic proteins and peptides for the treatment of diabetes and metabolic diseases. In diabetes, Adocia’s portfolio of injectable therapies is among the largest and most differentiated in the industry, with five clinical stage products and several preclinical products. The proprietary BioChaperone® Technology platform is designed to improve the efficacy and / or safety of therapeutic proteins while facilitating their use by patients. Adocia personalizes BioChaperone® to each protein for a given application.

Adocia’s clinical pipeline includes four new formulations of insulin for the prandial treatment of diabetes: two ultra-rapid formulations of insulin analog lispro (BioChaperone® Lispro U100 and U200), a combination of basal insulin glargine and rapid-acting insulin lispro (BioChaperone® Combo) and a combination of a mealtime insulin with an amylin analogue pramlintide M1Pram. The clinical pipeline also includes an aqueous formulation of human glucagon (BioChaperone® glucagon) for the treatment of hypoglycemia.

Adocia’s preclinical pipeline includes bihormonal combinations for the treatment of diabetes: two combinations of fast-acting insulin analogues and Pramlintide (BioChaperone® Lispro and BioChaperone stroller® Aspart Pram), a combination of insulin glargine with GLP-1 receptor agonists (BioChaperone® Glargine Liraglutide). In addition, there are two bi-hormonal products for the treatment of obesity: a combination of glucagon and exenatide (BioChaperone® GluExe) and a combination of pramlintide and exenatide (PramExe).

Adocia recently added a preclinical program to its pipeline with a cell therapy initiative focused on the development of a hydrogel scaffold for people with type 1 diabetes. The first patent application supporting this program has been filed.

Warning

This press release contains certain forward-looking statements regarding Adocia and its business. These forward-looking statements are based on assumptions that Adocia considers to be reasonable. However, there can be no assurance that the estimates contained in these forward-looking statements will be verified, which estimates are subject to numerous risks, including the risks set out in the “Risk factors” section of the Universal Registration Document filed with the Authority. French. financial markets on April 20, 2021 (a copy of which is available at www.adocia.com) and changes in economic conditions in the financial markets and the markets in which Adocia operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Adocia or currently considered to be immaterial by Adocia. The occurrence of some or all of these risks could cause the actual results, financial conditions, performance or achievements of Adocia to differ materially from these forward-looking statements. This press release and the information it contains do not constitute an offer to sell or the solicitation of an offer to purchase Adocia shares in any jurisdiction.


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