Curetis N.V. Informs on OpGen’s Fourth Quarter and Full Year 2019 Financial Results and Business Update
25 Março 2020 - 3:59AM
- Quorum achieved for OpGen stockholder vote on Curetis business
combination with 99% of votes supporting transaction
- Transaction close anticipated by early April 2020
- Combined OpGen and Curetis business generated $6 million in
unaudited pro forma combined 2019 revenue (up from $4.5 million in
2018)
- First shipments of BGI SARS-CoV-2 rapid PCR kits completed by
Curetis in Europe. Additional actions planned to address the global
COVID-19 pandemic
Amsterdam, the Netherlands,
Holzgerlingen, Germany, and San Diego, CA, USA, March 25, 2020,
08:00 am CET - Curetis N.V. (the
"Company" and together with its subsidiaries
"Curetis"), a developer of next-level molecular
diagnostic solutions, reports that OpGen Inc.
(“OpGen”) yesterday, March 24, 2020, reported its
audited stand-alone financial and operating results for the three
and 12 months ended December 31, 2019 and provided a business
update for OpGen and the Curetis Group.
Total OpGen revenue for the fourth quarter of
2019 was $821 thousand, compared with $759 thousand for the fourth
quarter of 2018, an 8.1% increase. Total OpGen revenue for 2019 was
$3.5 million compared with $2.9 million reported for 2018, an 18.7%
increase. Combined unaudited pro forma revenue for the OpGen and
Curetis business was approximately $6 million in 2019 revenue up
from approximately $4.5 million in 2018, a 33% increase.
Further OpGen reported that a quorum has been
achieved for OpGen’s upcoming Special Meeting of Stockholders,
scheduled for March 30, 2020, at which stockholders will vote on
the business combination transaction with Curetis. As of
March 23, 2020, more than 99% of votes cast support approval of the
business combination transaction. OpGen anticipates receiving
formal approval of the transaction at the upcoming Special Meeting
on March 30. As previously announced, on March 10, 2020, Curetis
shareholders voted to approve the transaction, making the approval
of OpGen’s shareholders the last major hurdle to closing the
planned business combination. The companies anticipate closing the
business combination transaction by early April 2020 following its
approval at the OpGen Special Meeting. The expected near-term
completion of this combination follows the successful addition of
$22.6 million in working capital over the last six months which has
supported the continued execution of both companies’ business plans
and provides significant funding for the combined company going
forward.
Evan Jones, Chairman and CEO of OpGen, in a
press release by Opgen stated, “We are pleased with OpGen’s fourth
quarter and fiscal year 2019 results and are truly excited to see
the imminent completion of our business combination with Curetis.
We have successfully executed on all steps needed to satisfy the
conditions to closing the transaction and expect our stockholders
to approve the transaction in the near term. Thus, we look forward
to our combined 2020 growth and corporate development.” Mr. Jones
continued, “These are unprecedented times with the COVID-19
pandemic impacting society and businesses globally. Curetis took
early action to supply the BGI SARS-CoV-2 rapid PCR test kit in
Europe, and first shipments of product were completed this week.
Together at OpGen and Curetis we are mobilizing our companies to
help make a difference in the fight against this new virus.
Operations and programs have been impacted by the government,
societal, and internal corporate actions to help combat the
pandemic; however, both companies are currently supplying all of
their products as needed to our healthcare customers.”
For OpGen’s full press release titled “OpGen
Reports Fourth Quarter and Full Year 2019 Financial Results and
Provides Business Update for OpGen and Curetis Group” please see
OpGen’s website at:
http://ir.opgen.com/news-releases/news-release-details/opgen-reports-fourth-quarter-and-full-year-2019-financial
###
About Curetis
Curetis N.V.’s (Euronext: CURE) goal is to
become a leading provider of innovative solutions for molecular
microbiology diagnostics designed to address the global challenge
of detecting severe infectious diseases and identifying antibiotic
resistances in hospitalized patients.
Curetis’ Unyvero System is a versatile, fast and
highly automated molecular diagnostic platform for easy-to-use,
cartridge-based solutions for the comprehensive and rapid detection
of pathogens and antimicrobial resistance markers in a range of
severe infectious disease indications. Results are available within
hours, a process that can take days or even weeks if performed with
standard diagnostic procedures, thereby facilitating improved
patient outcomes, stringent antibiotic stewardship and
health-economic benefits. Unyvero in vitro diagnostic (IVD)
products are marketed in Europe, the Middle East, Asia and the
U.S.
Curetis’ wholly owned subsidiary Ares Genetics
GmbH is developing next-generation solutions for infectious disease
diagnostics and therapeutics. The ARES Technology Platform combines
the presumably most comprehensive database worldwide on the
genetics of antimicrobial resistances, ARESdb, with advanced
bioinformatics and artificial intelligence.
For further information, please
visit www.curetis.com
and
www.ares-genetics.com.
Legal Disclaimer
This document constitutes neither an offer to
buy nor an offer to subscribe for securities and neither this
document nor any part of it should form the basis of any investment
decision in Curetis. The information contained in this press
release has been carefully prepared. However, Curetis bears and
assumes no liability of whatever kind for the correctness and
completeness of the information provided herein. Curetis does not
assume an obligation of whatever kind to update or correct
information contained in this press release whether as a result of
new information, future events or for other reasons.
This press release includes statements that are,
or may be deemed to be, “forward-looking statements.” These
forward-looking statements can be identified by the use of
forward-looking terminology, including the terms “believes,”
“estimates,” “anticipates,” “expects,” “intends,” “targets,” “may,”
“will,” or “should” and include statements Curetis makes concerning
the intended results of its strategy. By their nature,
forward-looking statements involve risks and uncertainties and
readers are cautioned that any such forward-looking statements are
not guarantees of future performance. Curetis’ actual results may
differ materially from those predicted by the forward-looking
statements. Curetis undertakes no obligation to publicly update or
revise forward-looking statements, except as may be required by
law.
Contact details
Curetis Max-Eyth-Str. 4271088 Holzgerlingen, GermanyTel. +49
7031 49195-10pr@curetis.com or ir@curetis.comwww.curetis.com
- www.unyvero.com
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