Theradiag: Revenue growth at end September 2016 +31%

THERADIAG a company specializing in in vitro diagnostics and theranostics, has reported its consolidated revenues for the 3rd quarter of 2016.

“Theradiag’s sales performances over the first half of 2016 continued in the 3 rd quarter, notably for Theranostics activity, which has seen revenues multiplied by 2.4. The monitoring of biotherapies, whose clinical and economic interest has been confirmed by recent publications, is becoming a must for numerous clinicians and pharmaceutical companies”, commented Professor Gérard Tobelem, Theradiag’s Chairman.

Over the first 9 months of the year ending September 30, 2016, Theradiag recorded consolidated revenues of €6.4 million, up +31% compared with the same period of 2015. This growth was notably driven by the Theranostic Business Unit and the strong growth in Lisa Tracker sales (x2.4 compared with end of September 2015 sales), said Theradiag.

Revenues for the 3 rd quarter of 2016 totaled €1.7 million, up 20% compared with the 3rd quarter of 2015.

Theradiag added in its press release that the 3rd quarter of 2016 saw two major events:

• The launch in the United States, by Janssen Biotech, of the Inform program to offer monitoring tests to help healthcare professionals better use Remicade in treating patients with inflammatory bowel diseases (IBD);
• The €2.5 million capital increase fully subscribed by HOB Biotech, which now has a 10.77% stake in the Company. This investment will help accelerate market penetration for all of the products available on the BioCLIA instrument in Europe.

Michel Finance, Theradiag’s Chief Executive Officer, added: “Our confidence in Theradiag’s future is maintained based on the revenue growth at the end of September. In the short and medium term, this growth is being driven by the current or future agreements with pharmaceutical companies.”