VEXIM: +40% Revenue Growth in the 1st Half 2016: Upper Range of Goals

Regulatory News:

VEXIM (Paris:ALVXM) (FR0011072602 – ALVXM / PEA-PME), a medical device company specializing in the minimally invasive treatment of vertebral fractures, today announces its consolidated sales results for the second quarter 2016.

Strong growth in the 2^nd quarter 2016 (Q2)

During the 2^nd quarter 2016, VEXIM’s sales reached €4.6 million, up 37% compared to the same period in 2015. These results are consistent with the upper range of VEXIM’s growth objectives for the full year and show how well the company is performing in all markets worldwide.

In France, Vexim continues to gain market share, with a turnover of €4.2 million in the first half of 2016, up 57% compared to the same period in 2015. Nearly 5 years after the market launch of the SpineJack®, VEXIM continues to penetrate the French vertebral compression fracture market, which is currently worth €16 million per year¹.

In Germany, where the SpineJack® was launched in 2013, VEXIM secured €1.7 million in revenue in the first half of 2016, up 33% compared to the same period in 2015. Given that the German market is worth €70 million per year², VEXIM’s growth potential remains important in that country, where the company ambitions to reach the same growth prospects and market share as in France, within the next two to three years. As such, VEXIM has added to its list of customers the group of hospitals AGKAMED (170 centers) and the Paul Gerhard Diakonie Group (17 centers). It is also currently conducting tests in order to start working with the Helios group (over 100 clinics).

In other European markets, VEXIM maintains a steady growth rate, with a 19% revenue increase in the first half of 2016.

Outside of Europe, the company’s revenue grew by 43% during the first semester 2016. There has been a growing interest in the SpineJack® technology worldwide, and VEXIM is currently working on the launch of SpineJack® in several new markets (Brazil, South Africa, South Korea and Australia), which will be announced in the coming months, along with partnership agreements with distributors in these territories.

At the end of the second quarter 2016, the total number of implants sold since the launch of the SpineJack® came to over 34,300 units, with roughly represents 16,300 patients treated since 2011.

"VEXIM’s growth perspectives remain significant and our solid performance in the first half of 2016, including in France and Germany, further validates our strategy of becoming a global leader in the spine trauma market. The SpineJack® technology, already a market leader in France, will gradually emerge as a standard of care worldwide in the coming years. Our technology has already helped thousands of patients to quickly and durably restore the balance of their spine and their daily activities. I moreover invite you to read through the recent testimony of a patient, which we included in our latest Shareholders’ Newsletter (see link below). We remain confident in our ability to achieve our goals in 2016, in terms of revenue growth and the company's development,” said Vincent Gardès, CEO of VEXIM.

Click on the following link to view the June 2016 Letter to the Shareholders:
http://www.vexim.com/us/wp-content/uploads/2016/06/vexim_newsletter_eng.pdf

Financial reporting schedule:
First half-year 2016 results: on September 22, 2016*
* indicative date, subject to changes

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 Capital³ 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 Masterflow^TM, 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 62 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® ⁴, 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.

Masterflow^{TM 2}, a high-performance orthopedic cement delivery system
The Masterflow^TM 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 Masterflow^TM stands out for being both easy to use and precise, particularly in its ability to stop the cement delivery instantly without inertia. The Masterflow^TM 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 Source: VEXIM

² Source: VEXIM

³ 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.

⁴ 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.

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