BAGNEUX, France--(BUSINESS WIRE)--Regulatory News:
Genomic Vision (FR0011799907 – GV, – the “Company”), a Euronext-listed biotechnology company that develops products and services for the highly accurate characterization of DNA sequences, today announces an agreement with The Institute of Cancer Research, London, for the purchase of the Company’s FiberVision®S and FiberSmart® products. The agreement includes an upfront, one-off payment in addition to annual recurring revenues from sales of consumable products related to FiberVision®S and FiberSmart®.
The ICR is a world-leading research organization dedicated to understanding the causes and mechanisms of cancer, developing new treatment approaches, and improving patient outcomes. FiberVision®S and FiberSmart® will be used by the ICR’s scientists to expedite cancer research activities to gain molecular insights into complex biological processes, the findings of which will translate into clinical applications.
FiberVision®S is a state-of-the-art fluorescence scanner for Molecular Combing, developed for Life Science research applications of single DNA molecule analysis. FiberSmart® uses advanced AI algorithms for the analysis of Replication Combing Assays (RCA), Genomic Vision’s proprietary method for the direct visualization of DNA replication kinetics at the single molecule level. Together these applications are essential tools for the development of new drugs.
Oncology is a highly competitive research area, driven by an increasing incidence of cancer worldwide. Monitoring the features of genomic instability, a hallmark of cancer development, is crucial to better understand these complex molecular mechanisms. For several years, DNA fiber analysis/RCA has been established as a gold standard approach to decipher the global DNA metabolism and more precisely to evaluate the replication stress induced by any genotoxic agent, such as anticancer chemotherapy compounds and radiation therapies. By providing unique added-value services Genomic Vision helps the scientific community to gain molecular insights into these complex biological processes and optimize drug development accordingly.
Aaron Bensimon, Chief Executive Officer of Genomic Vision, commented: “Our proprietary technologies offer significant value-add to the drug discovery process. Our services help to de-risk development, shorten timelines, reduce costs and ultimately optimize outcomes for patients and companies. This is further evidenced by our growing roster of clients across industry and academia, including The Institute of Cancer Research, renowned for its excellence in drug discovery. We look forward to working with the ICR and to playing some part in future scientific breakthroughs.”
ABOUT GENOMIC VISION
GENOMIC VISION is a biotechnology company that develops products and services for the highly accurate characterization of genome modifications. We deliver high-quality integrated genomic analysis solutions to improve quality control and bioproduction standards of advanced gene therapies at scale. Based on molecular combing technology and artificial intelligence, The Company provides robust quantitative measurements needed for high confidence characterization of transformed cell lines and prediction of cell line performance, in particular in the context of the biomanufacturing processes of cell and gene therapies. Genomic Vision’s molecular combing technology has further applications in drug development of agents targeting DNA replication and damage response mechanisms, visualizing DNA replication kinetics and telomere length maintenance. Genomic Vision, based near Paris in Bagneux, is a public company listed in compartment C of Euronext’s regulated market in Paris (Euronext: GV – ISIN: FR0011799907).
For further information, please visit www.genomicvision.com
ABOUT ICR
The Institute of Cancer Research, London, is one of the world’s most influential cancer research institutes, with an outstanding record of achievement dating back more than 100 years. Around 800 scientists work at ICR across the full spectrum of cancer research, from basic cancer biology to clinical trials. The ICR ranked second in REF 2021, the UK government’s most recent comprehensive assessment of research quality, for overall research quality and impact, and first in biological sciences.
The ICR is also one of the world’s most successful academic institutions in industry collaboration and is especially well-known for its excellence in drug discovery. Researchers in the ICR’s Centre for Cancer Drug Discovery, have discovered 21 drug candidates since 2005, of which 13 have progressed into clinical trials, in collaboration with industry partners. The blockbuster drug abiraterone (Zytiga®) was discovered and initially developed at the ICR, and ICR science also underpinned the development of the leading PARP inhibitor olaparib (Lynparza®) in BRCA-mutant cancers.
The ICR and its hospital partner The Royal Marsden NHS Foundation Trust are together ranked in the top four centers for cancer research and treatment worldwide, and their joint Drug Development Unit is the leading oncology-focused phase I trial unit in the UK. The ICR is also a provider of higher education of international distinction through its postgraduate degree programs.
Member of the CAC® Mid & Small and CAC® All-Tradable indices
FORWARD LOOKING STATEMENT
Genomic Vision has set up a financing line in the form of convertible notes with warrants (OCABSA) with Winance, which does not intend to remain a shareholder of the company, after receiving the shares resulting from the conversion or exercise of the securities.
The shares resulting from the conversion or exercise of the aforementioned securities will, in general, be sold on the market very quickly, which is likely to create strong downward pressure on the share price as well as a strong dilution.
Shareholders could therefore suffer a loss of their invested capital due to a significant decrease in the value of the company's shares. The company has carried out several dilutive financing operations, and investors are advised to be very careful before making a decision to invest in the company's securities.
This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business. Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the “Risk Factors” section of the universal registration document filed with the AMF on April 28, 2023 under number D.23-0383, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements.
This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.
