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Co.Don

WKN: A1K022 / ISIN: DE000A1K0227

PRESS RELEASE: co.don Aktiengesellschaft: Positive performance again in 2015


01.03.16 12:54
Dow Jones Newswires



PRESS RELEASE: co.don Aktiengesellschaft: Positive performance again in 2015





DGAP-News: co.don Aktiengesellschaft / Key word(s): Final Results
co.don Aktiengesellschaft: Positive performance again in 2015

2016-03-01 / 12:54
The issuer is solely responsible for the content of this announcement.

Press release

co.don AG: Positive performance again in 2015

+ EU authorisation: very good results on track towards co.don AG's main strategic objective
+ Successful realignment following management handover
+ Funding secured for the company's future organisational structure
+ Sales record in Q4 2015
+ Further revenue and earnings growth in the current financial year

Teltow, 01.03.2016 - co.don AG has reported its most successful year in the company's history to date: In financial year
2015 revenue increased by some 14% (all 2015 figures unaudited). 2015 earnings before interest, tax, depreciation and
amortisation (EBITDA), as a measure of operating performance - without the strategic costs of marketing authorisation -
improved hugely on financial year 2014 (EUR -557k) to reach break-even. This result is reduced by unplanned,
non-recurring expenses for the management handover and initial costs for the reorganisation of the company.

Comprehensive income 2015 (net loss for the year) is still negative due to the strategic investments to obtain EU
marketing authorisation. More than EUR 12 million have been invested since 2009 to obtain EU marketing authorisation for
the articular cartilage product. Detailed figures for the financial year 2015, including capital expenditure, will be
announced when the annual report is published in late April 2016.

+ EU authorisation: Both clinical trials in post-operative observation period, positive interim results of clinical
Phase II study

EU marketing authorisation for the pharmaceutical product co.don condrosphere(R) remains the most important strategic
objective for the company. To this end co.don AG is currently carrying out two clinical trials, which are now both in
the follow-up observation period.

The aim of the phase III clinical study is to compare the effectiveness and safety of matrix-associated autologous
chondrocyte implants (ACI-M) using co.don condrosphere(R) with the alternative microfracture treatment.

In another long-term phase II clinical trial, patients with cartilage defects of 4-10 cm2 in the knee joint were treated
with co.don condrosphere(R), an autologous chondrocyte implant. Analysis of the post-operative data confirms the
positive effectiveness and safety of the pharmaceutical product at all the doses tested and provides evidence of a
significant improvement in patient well-being. In the third year of data collection it shows an improvement in the
effectiveness data gathered by both patients and physicians. The results are confirmed by diagnostic imaging methods.

+ New management drives international orientation of the company

Dirk Hessel became Chief Executive Officer of the company on 14 July 2015. In Mr Hessel the company has gained an
entrepreneur with great management experience and proven international sales expertise in the pharmaceutical sector, who
together with his colleague on the Executive Board, Vilma Methner, will drive the company's course of successful
international expansion. Preparations for entering the market have begun in the expectation of obtaining EU marketing
authorisation in late 2017.

+ Funding secured for EU roll-out preparations

The very successful capital increase carried out in autumn 2015 enabled the company to raise some EUR 4.9m in cash. The
capital increase was heavily oversubscribed by 38%, reflecting strong market acceptance of the co.don investment case.
Issue proceeds will mainly be used to prepare for the EU-wide product launch of the pharmaceutical product co.don
condrosphere(R) and to expand market penetration in Germany.

"The strong interest in the capital increase from both existing and new investors is an important acknowledgement of our
operational progress and shows great support for our accelerated sales and EU roll-out strategy. This funding now
enables us to drive forward the preparations for the European product launch and to scale up the sales offensive in
Germany", said Dirk Hesse, CEO of co.don AG.

+ Sales record in Q4 2015, further revenue and earnings growth in the current financial year

Under the leadership of the new CEO the company has sharpened its commercial profile: with the operating activities
initiated to date and its preparations for a European product launch the company is positioning itself to become the
clear market leader in the Germany market. The steps taken to expand distribution capacities resulted in an
above-average inflow of new monthly orders in the fourth quarter last year and this trend has continued into the new
financial year. In January 2016 the company again reported a very positive performance, with growth of 30% compared with
the same period last year.

Management's other planned activities going forward concentrate on the German domestic market, realising the company's
international ambitions and its strategic focus on Europe.

So production capacities are being expanded in preparation for European market entry and other steps taken to prepare
for the EU roll-out. The continued internationalisation of co.don AG's market presence will increasingly be driven by
visits and active involvement in trade fairs and congresses.

About co.don(R) AG: Berlin-based co.don AG develops, produces and markets in Germany autologous cell therapies for the
minimally invasive repair of cartilage damage to joints following traumatic or degenerative defects. co.don
condrosphere(R) is a cell therapy product that uses only the patient's own cartilage cells ("autologous chondrocytes").
co.don condrosphere(R) has been approved by the German federal agency PEI in accordance with Section 4b of the German
Pharmaceuticals Act (AMG) and is currently undergoing Phase II and III clinical trials to obtain European marketing
authorisation. co.don condrosphere(R) has been used for more than 10 years in over 120 clinics to treat more than 8,500
patients. In Germany the statutory health insurance companies have paid for the treatment of knee and hip joints since
2007 and for the treatment of vertebral joints since 2008. The shares in co.don AG are listed on the Frankfurt Stock
Exchange (ISIN: DE000A1K0227).

Executive Board: Dirk Hessel (CEO) and Vilma Methner (COO, CSO)

More information can be found at www.ihre-zellzuechter.de and www.codon.de

Press contact
Matthias Meißner, M.A.
Corporate communications / IR / PR
+49 +49 3328 43460
Fax: +49 03328 434643
pr@codon.de

2016-03-01 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

Language: English
Company: co.don Aktiengesellschaft
Warthestraße 21
14513 Teltow
Germany
Phone: 03328 43460
Fax: 03328 434643
E-mail: info@codon.de
Internet: www.codon.de
ISIN: DE000A1K0227
WKN: A1K022
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Stuttgart, Tradegate Exchange

End of News DGAP News Service
441603 2016-03-01




(END) Dow Jones Newswires




March 01, 2016 06:54 ET (11:54 GMT)







 
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