Biotalys Reports Full-Year 2023 Financial Results and Business Highlights

Press release - regulated information Realised a step change in company's approach to product development with the move to the AGROBODY™ 2.0 technology platform Successfully closed a €7 million private placement in June at €6.166 per share, subscribed to by Agri Investment Fund and the Belgian Sovereign Wealth FundEstablished key partnerships and academic collaborations for the product pipeline and platform Announced results of final round of independent field trials with...

Gent, 22/02/2024 (informazione.it - comunicati stampa - cibi e bevande)

Press release - regulated information

Ghent, BELGIUM, Feb. 22, 2024 (GLOBE NEWSWIRE) --  – Biotalys (Euronext - BTLS), an Agricultural Technology (AgTech) company developing protein-based biocontrols for sustainable crop protection, today announces key business achievements and consolidated financial results for 2023, prepared in accordance with IFRS as adopted by the European Union, and an outlook for 2024. The annual report, including the full financial report, will be published on the company's website on 20 March 2024.

Kevin Helash, Chief Executive Officer of Biotalys, stated : “Biotalys made significant inroads in 2023 by progressing to the second-generation of our technology platform and forging new partnerships and scientific collaborations, while carefully managing our cash position. For 2024, we plan to initiate field trials in grapes with our next pipeline program BioFun-6, building on the promising results in independent field trials with EVOCA. We will also continue to work with the competent authorities to obtain regulatory approval, further expand our product pipeline and optimise our technology platform.”

Operational Highlights
Throughout 2023, Biotalys continued to cement its role of innovator in the biocontrol space and created internal efficiencies while advancing its technology platform and product development pipeline.

AGROBODY 2.0 Technology Platform:

Partnerships:

Product Validation:

Pipeline Update:

Leadership Updates:

Outlook for 2024

Special Shareholders Meeting
At the board meeting dated 21 February 2024, the board established that based on the non-consolidated Belgian GAAP financial statements for the period ending 31 December 2023, the net assets of the Company (€22,751,230.29) dropped below half of the corporate capital of the Company (€46,198,455.95) triggering the procedure under article 7:228 of the Belgian Code on Companies and Associations (“BCCA”). In accordance therewith, the Board will convene a special shareholders meeting on March 29, 2024 and propose to the shareholders the continuation of the activities of the Company. The convening notice and the related documentation including the special board report as required under article 7:228 BCCA will become available on the website of the Company in the next few days. At the occasion of this special shareholders meeting, the board will also propose the confirmation of the nomination of Mr. Kevin Helash as director of the Company.

Detailed financial review for 2023

Consolidated statements of profit and loss

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 20 March 2024. 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 2023 financial results and business highlights today, Thursday, 22 February 2024 at 15:00 CET / 14:00 GMT / 09:00 AM ET and can be accessed via the following link: https://edge.media-server.com/mmc/p/uwteb7ve/.

Dial-in details: To ask questions live to management, please register for the conference call via the following link: https://register.vevent.com/register/BIe76a08c1a0544f40a864e04bbf066d2d.

A recording of the webcast will be available after the event on the Biotalys investor website: https://www.biotalys.com/investors/financial-information.

* 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.

-End-

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: IR@biotalys.com

Important Notice

Biotalys, its business, prospects and financial position remain exposed and subject to risks and uncertainties. A description of and reference to these risks and uncertainties can be found in the 2022 annual report on the consolidated annual accounts published on the company's website.

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

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