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Genomic Vision Announces Q1 Earnings

Paris based biotechnology company Genomic Vision announces its first-quarter revenue. The biotechnology company develops tools and services dedicated to the analysis and control of changes in the genome. The proprietary tools, based on DNA combing technology and artificial intelligence, provide robust quantitative measurements needed to high confidence characterization of DNA alteration in the genome.

The biotechnology company’s Revenue from sales totaled €165 thousand in the first quarter of 2021, down 70% compared with the first quarter of 2020. This fall was a result of the lack of any platform sales over the period, in the first quarter of 2020. Genomic Vision sold a platform to the Leibniz Institute on Aging Fritz Lipmann Institute in Germany, within the framework of collaboration that is actively continuing.

On March 31, 2021, Genomic Vision had cash and cash equivalents of €2.2 million, versus €2 million on December 31, 2020. This slight improvement takes into account the drawdown of the second tranche, for €1.2 million, within the framework of the financing line implemented with Winance in June 2020.

This program offers the issuance, to the benefit of Winance, of several tranches of OCABSA bonds convertible into ordinary shares to which a share subscription warrant is attached, each tranche being for €1 million, representing a bond issue of up to €12 million over 24 months. The first tranche was issued on November 30, 2020, for €800 thousand and the second tranche, for €1.2 million, was issued in March 2021.The Company has a remaining balance of €10.0 million on this financing line that may be exercised by the characteristics indicated in the Prospectus granted visa number 21-028 by the AMF French stock market authority on February 9, 2021. It is subject to contractual and legal conditions.

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