Toulouse, November 4, 2015 – VEXIM (FR0011072602 – ALVXM), a medical device company specializing in the minimally invasive treatment of vertebral fractures, announces that the company has received the Award of the fastest growing listed company, and was ranked 4th in the 2015 Technology Fast 50 for southwestern France by Deloitte in Extenso. The ceremony took place on November 3, 2015, at the Aeroscopia aeronautical museum (Toulouse-Blagnac, France).
Created by Deloitte France in 2001, the Technology Fast 50 ranks the 50 most performant French high-tech companies based on their growth and innovation. For this 15th edition, the ranking criteria were based on the long-term growth of innovative companies over the past 4 years.
VEXIM stood out for its excellent performance, with an increase in revenue of 757% from 2011 to 2014 (i.e. +€9,125,000 over the period)
VEXIM achieved an increase in revenue of €3.6M for the third quarter of 2015, up 44% compared to 2014, mainly due to excellent sales performance in Europe. Such strong growth indicates an increase in the adoption rate and market penetration of the SpineJack® technology, a revolutionary implant for the treatment of vertebral fractures. VEXIM’s year-to–date sales on September 30 were €9.6M.
“We are glad to receive this distinction, which is a meaningful recognition of our dynamism and sustained growth over the last years, and of our contribution to innovation in the region. These good results are a testament to our dedication and effective strategy. I would like to thank all of our partners for their valuable support, especially Truffle Capital, as well as all of the company’s employees who greatly contributed to our success. VEXIM is well positioned to become a global leader in the spine trauma market,” said Vincent Gardès, CEO of VEXIM.
During the first half of 2015, VEXIM announced the promising results of two clinical studies which confirmed the SpineJack®’s efficiency in treating vertebral compression fractures and its excellent performance compared with the Medtronic balloon. In June, VEXIM also initiated a new clinical study intended to support the Company’s application for 510(k) regulatory clearance to market SpineJack® in the U.S.
VEXIM now focuses on expanding its global distribution network and increasing its market penetration in Europe, while developing commercial activities in the United States. The company expects to become profitable by the end of 2015.
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 Capital1 and from OSEO 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 currently has 60 members on its staff. It has its own sales teams in France, Germany, Italy, Spain, Switzerland, the United Kingdom and United States, as well as distributors in Turkey, Argentina, Taiwan, Belgium, Estonia, Poland, Portugal, South Africa, Saudi Arabia, Colombia, Panama, Venezuela, Chile, Peru and Ecuador and in the following countries where the product is currently being registered: Mexico, Brazil. VEXIM has been listed on NYSE Alternext Paris since May 2012.
For further information, please visit www.vexim.com
SpineJack®, a revolutionary implant for treating Vertebral Compression 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 compression 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.