January 17, 2017
TOULOUSE, France–(BUSINESS WIRE)–Regulatory News:
VEXIM (Paris:ALVXM) (FR0011072602 – ALVXM / PEA‐PME eligible), a medical device company specializing in the minimally invasive treatment of vertebral fractures, today announces its consolidated revenue for 2016.
“VEXIM continues its momentum to improve the lives of patients suffering from spinal trauma. As it is now believed that a vertebral fracture occurs every 22 seconds in the world, VEXIM offers a simple, innovative and effective solution to this widespread, painful and disabling health problem.
The results obtained validate the objectives set by the company: the SpineJack® has become a leading treatment in the spine trauma market. VEXIM has reached the 10% market share mark in Europe in 2016 and continues to grow worldwide, especially in Germany. VEXIM aims to extend this trend in 2017: the company expects to break even throughout the entire financial year and to achieve a 30-35% sales increase.
In 2017, VEXIM will make several announcements on its expected clinical and regulatory milestones for the United States, which would bring the company, subject to 510(k) FDA clearance in 2018, closer to its goal: to become a major global player in the treatment of spine trauma and help millions of patients to quickly resume their daily activities”, commented Vincent Gardès, CEO of VEXIM.
Continued Strong Growth in Fourth Quarter 2016
|Revenues in millions of euros|
|1st quarter (Q1)||2nd quarter (Q2)||3rd quarter (Q3)||4th quarter (Q4)|
|Q1 2016||Q1 2015||Variation
|Q3 2016||Q3 2015||Variation (%)||Q4 2016||Q4 2015||Variation (%)|
|1st half-year (S1)||2nd half-year (S2)||Year|
During the fourth quarter of 2016, VEXIM recorded sales of €5.2 million, up 24% compared to the same period in 2015. Sales for the full year 2016 totaled €18.5 million, a 33% growth compared to 2015. These results are in line with the company’s expectations.
In Europe, the company keeps growing at a fast pace, with a 35% increase in sales in 2016. VEXIM continues to gain market share in France, where it has become the market leader in the treatment of vertebral compression fractures (source: VEXIM). The company’s sales in France in 2016 were up 48% compared to 2015
Vexim is also pursuing market penetration in Germany, where the salesforce was optimized in the fourth quarter. In 2016, sales in Germany were up by 14% compared to 2015. According to our estimates, VEXIM currently ranks fourth in the sector and aims to substantially increase its share position in 2017.
Worldwide, excluding the US and Europe, sales were up 28% in 2016, including a double-digit growth in Latin America, the Middle East and Asia. Our objective is to achieve a significant sales increase in 2017, with the developments of new markets like Australia, South Africa and particularly Brazil, where our registration dossier has just been filed with expected approval in the coming months.
By the end of 2016, the total number of implants sold since the launch of the SpineJack® in 2011 reached 42,300 units, accounting for more than 20,000 patients treated with the Spinejack® technology.
Financial reporting schedule:
2016 Full-Year Results: March 23rd, 20171
About VEXIM, the innovative back microsurgery specialist
Based in Balma, near Toulouse (France), VEXIM is a medical device company created in February 2006. The company has specialized in the creation and marketing of minimally-invasive solutions for treating traumatic spinal pathologies. Benefitting from the financial support of it longstanding shareholder, Truffle Capital2 and from BPI public subsidies, VEXIM has designed and developed the SpineJack®, a unique implant capable of repairing a fractured vertebra and restoring the balance of the spinal column. The company also developed the MasterflowTM, an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure. The company counts 66 employees, including its own sales teams in Europe and a network of international distributors.
VEXIM has been listed on Alternext Paris since May 2012. For further information, please visit www.vexim.com
SpineJack® 3, a revolutionary implant for treating Vertebral Fractures
The revolutionary aspect of the SpineJack® lies in its ability to restore a fractured vertebra to its original shape, restore the spinal column’s optimal anatomy and thus remove pain and enable the patient to recover their functional capabilities. Thanks to a specialized range of instruments, inserting the implants into the vertebra is carried out by minimally-invasive surgery, guided by X-ray, in approximately 30 minutes, enabling the patient to be discharged shortly after surgery. The SpineJack® range consists of 3 titanium implants with 3 different diameters, thus covering 95% of vertebral fractures and all patient morphologies. SpineJack® technology benefits from the support of international scientific experts in the field of spinal surgery and worldwide patent protection through to 2029.
MasterflowTM 2, a high-performance orthopedic cement delivery system
The MasterflowTM is an innovative solution for mixing and injecting orthopedic cement that enhances the accuracy of the injection and optimizes the overall surgical procedure for treating vertebral compression fractures. The device provides a better control of the injection of biomaterials into the spine. A complement of the SpineJack®, the MasterflowTM stands out for being both easy to use and precise, particularly in its ability to stop the cement delivery instantly without inertia. The MasterflowTM contributes to reducing pain in patients. Its first sales were recorded in the U.S. in February 2015, and the system has also received the CE marking in February 2015, a mandatory conformity mark for products marketed in Europe.
Name : VEXIM
ISIN code : FR0011072602
Ticker : ALVXM
1 Indicative date, subject to changes.
2 Founded in 2001 in Paris, Truffle Capital is a leading independent European private equity firm. It is dedicated to investing in and building technology leaders in the IT, life sciences and energy sectors. Truffle Capital manages €550m via FCPRs and FCPIs, the latter offering tax rebates (funds are blocked during 7 to 10 years). For further information, please visit www.truffle.fr and www.fcpi.fr.
3 This medical device is a regulated health product that, with regard to these regulations, bears the CE mark. Please refer to the Instructions for Use.