Cibi e Bevande
Biotalys Reports Full-Year 2022 Financial Results and Business Highlights
• Established strategic partnerships in preparation of U.S. market calibration of Evoca™*
• Improved manufacturing efficiencies for the next generation of Evoca, tapping the proprietary AGROBODY Foundry™ platform
• Updated regulatory approval timelines in view of ongoing review by government agencies
• Year-end cash and cash equivalents amounted to €34 million
• Management to host a conference call and live webcast at 16:00 CET / 15:00 GMT / 10:00 AM EST today, details below
Ghent, Belgium, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Press release - Regulated information – Biotalys (Euronext - BTLS), an Agricultural Technology (AgTech) company developing protein-based biocontrol solutions for sustainable protection of crops and food, today announces key business achievements and consolidated financial results for 2022, prepared in accordance with IFRS as adopted by the European Union, and an outlook for 2023. The annual report, including the full financial report, will be published on the Company's website on 24 March 2023.
Patrice Sellès, Chief Executive Officer of Biotalys, stat ed : “Despite 2022 being a tumultuous year globally and across the agricultural industry, Biotalys achieved important milestones demonstrating the ability of its AGROBODY™ technology platform to develop innovative biocontrols at scale. We believe Biotalys' strategy and focus are fully aligned with the dawn of a new crop and food protection era, addressing both European Green Deal targets for chemical pesticide reduction and the global need to safely and sustainably feed our world.”
“The regulatory procedure for our first biofungicide Evoca is still ongoing. During our dialogue with the U.S. Environmental Protection Agency, we have learned that additional time is required to review all submitted data. We will continue to work closely with the Agency as it completes its review, now expected for Q3 2023, to bring this innovative technology into the hands of the growers.”
2022 Ope rational H ighlights (including post-period r egulatory u pdate for Evoca)
Throughout the year, Biotalys made significant headway in key areas to further develop its platform and pipeline.
Biotalys solidified strategic partnerships with global leaders to prepare for the market calibration of Evoca, the Company's first biofungicide:
Evoca continue d to demonstrate its efficacy in our field trial program as future valuable tool for growers seeking more sustainable solutions to control devastating fungal diseases:
Biotalys also achieved additional technology milestones for Evoca in 2022, including:
Regulatory update for Evoca
The status of Biotalys' current pipeline of product candidates , which includes novel biofungicides, biobactericides and bio-insecticides, is as follows:
Actively strengthening its team, Biotalys made important appointments throughout the year:
* Evoca™: Pending Registration. This product is not currently registered for sale or use in the United States, the European Union, or elsewhere and is not being offered for sale.
Detailed financial review for 2022
Consolidated statements of profit and loss
Outlook for 2023
Auditor Statement
The consolidated financial statements have been prepared in accordance with IFRS, as adopted by the EU. The financial information included in this press release is an extract from the full IFRS consolidated financial statements, which will be published on 24 March 2023. The statutory auditor, Deloitte Bedrijfsrevisoren /Réviseurs d'Entreprises, represented by Pieter-Jan Van Durme, has confirmed that its audit procedures, which have been substantially completed, have not revealed any material adjustment that should be made in the accounting information included in this press release.
Financial calendar and upcoming IR events
Live webcast and conference call
Company management will host a live webcast in English to discuss its full year 2022 financial results and business highlights today, 28 February 2023, at 16:00 CET / 15:00 GMT / 10:00 AM EST. Please register via the following webcast link: https://edge.media-server.com/mmc/p/hv39hzvy.
Dial-in details: To ask questions live to management, please also register for the conference call via https://register.vevent.com/register/BI31434e7ab1764b25a7eadb82a0ff4e9e.
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About Biotalys
Biotalys is an Agricultural Technology (AgTech) company developing protein-based biocontrol solutions for the protection of crops and food and aiming to provide alternatives to conventional chemical pesticides for a more sustainable and safer food supply. Based on its novel AGROBODY™ technology platform, Biotalys is developing a strong and diverse pipeline of effective product candidates with a favorable safety profile that aim to address key crop pests and diseases across the whole value chain, from soil to plate. Biotalys was founded in 2013 as a spin-off from the VIB (Flanders Institute for Biotechnology) and has been listed on Euronext Brussels since July 2021. The company is based in the biotech cluster in Ghent, Belgium. More information can be found on www.biotalys.com.
For further information, please contact :
Toon Musschoot, Head of IR & Communication
T: +32 (0)9 274 54 00
E: Toon.Musschoot@biotalys.com
Important Notice
This announcement contains statements which are "forward-looking statements" or could be considered as such. These forward-looking statements can be identified by the use of forward-looking terminology, including the words 'aim', 'believe', 'estimate', 'anticipate', 'expect', 'intend', 'may', 'will', 'plan', 'continue', 'ongoing', 'possible', 'predict', 'plans', 'target', 'seek', 'would' or 'should', and contain statements made by the company regarding the intended results of its strategy. By their nature, forward-looking statements involve risks and uncertainties and readers are warned that none of these forward-looking statements offers any guarantee of future performance. Biotalys' actual results may differ materially from those predicted by the forward-looking statements. Biotalys makes no undertaking whatsoever to publish updates or adjustments to these forward-looking statements, unless required to do so by law.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
FOR THE YEARS ENDED 31 DECEMBER
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEARS ENDED 31 DECEMBER
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEARS ENDED 31 DECEMBER
The accompanying notes are an integral part of these consolidated financial statements. Please see the full report available on www.biotalys.com.
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