BORDEAUX, France & BOSTON–(BUSINESS WIRE)–Regulatory News:

Implanet (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME equity savings plans; OTCQX: IMPZY) (Paris:ALIMP) (OTCQX:IMPZY), a medical technology company specializing in vertebral and knee surgery implants, has announced its interim results for the six-month period ended June 30, 2018, as approved by the Board of Directors on September 18, 2018.

Ludovic Lastennet, Implanet’s Chief Executive Officer, commented: “Through our unrelenting focus on costs containment we were able to improve our operating performance in spite of a revenue contraction in the first half of 2018. Jazz® continued to deliver healthy sales growth, particularly in France (sales up 10%) and in the US (sales up 14% at constant exchange rates). We have already begun to replicate this direct sales model by opening a branch in the United Kingdom and a subsidiary in Germany. We have also extended the Jazz® range by introducing Jazz Evo® for the adult degenerative spinal disease market. Finally, we have obtained additional funds by arranging a €5 million¹ convertible bond line. The implementation of these actions should continue in the coming months to lift our operating performance that has already begun to improve.”

*Unaudited data

Jazz® revenue up 10% in France and up 14% in the United States (at constant exchange rates)

Implanet’s sales declined 12% to €3.6 million and fell 9% at constant exchange rates in the first half of 2018. Lower sales performance in the rest of the world segment was the main factor. The strong growth trajectory in Jazz® sales continued, especially in markets in which Implanet has a direct presence: +10% in France to €0.9 million and +14% (at constant exchange rates) to €1.1 million in the United States. Jazz®’s contribution to overall revenue continues to grow. It now stands at 61% of total revenue (vs. 58% in H1 2017).

Significant improvement in gross margin and operating performance

During the first half of 2018, Implanet’s gross margin improved by 4 points to 55.7% (vs. 51.1% in H1 2017). The main factor at work here was the shift in the product mix following the shutdown of the Arthroscopy business.

Implanet has kept a very tight grip on its operating costs, which continues to pay off handsomely quarter after quarter. Overhead declined 8% (or €0.4 million) over the period helping Implanet to cut its operating loss before non-recurring items by 11% and its operating loss by 22% to €2.7 million from €3.5 million in the first half of 2017.

During the first half, Implanet’s financial expenses improved significantly owing to the Company’s lower borrowing costs.

As a result of these factors, Implanet’s net loss narrowed to €2.8 million in the first half of 2018 (vs. €3.7 million in H1 2017).

Cash and cash equivalents

At June 30, 2018, Implanet held €2.0 million in cash and cash equivalents (vs. €4.0 million at December 31, 2017).

In August, Implanet also raised €0.5 million by issuing another tranche of its convertible bonds to the European Select Growth Fund. Implanet can also request the subscription of an additional 350 convertible bonds subject to certain conditions, which would enable it to raise €3.5 million to support Jazz®’s international development.

Significant advances and highlights

Business development: replication of the direct sales model in France and the United States to conquer the principal European markets

• 155 surgeons using Jazz® technology in France and the United States (vs. 137 at June 30, 2017)
• finalization of the strategic alliance with L&K Biomed (signature of the cross-distribution agreements covering respective products in Asia and Europe)
• opening of Implanet’s branch in the United Kingdom
• establishment of Implanet subsidiary in Germany, the largest market in Europe, to develop a mixed sales network (direct sales staff and exclusive sales agents).

Clinical development, innovation and regulatory affairs: compelling clinical results and strong increases in the uptake of Jazz®

• encouraging results from the first surgeries carried out in Brazil using Jazz Lock®
• publication of the results of the clinical in the form of a prospective assessment of Jazz®² in vertebral column deformity surgery in the American Association of Neurological Surgeons’ Journal of Neurosurgery, supporting the use of the Jazz® platform as a promising alternative in the prevention of proximal junctional kyphosis
• launch of Jazz Evo® dedicated to treat vertebral fusion indications in adults following CE mark and 510(K) authorization from FDA.

Next press release: 3^rd quarter 2018 revenue on October 9, 2018 before the market opens.

About IMPLANET
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its flagship product, the JAZZ® latest-generation implant, aims to treat spinal pathologies requiring vertebral fusion surgery. Protected by four families of international patents, JAZZ® has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE mark. IMPLANET employs 46 staff and recorded 2017 sales of €7.8 million. For further information, please visit www.implanet.com.

Based near Bordeaux in France, IMPLANET established a US subsidiary in Boston in 2013.

IMPLANET is listed on Euronext™ Growth market in Paris. The Company would like to remind that the table for monitoring the BEOCABSA, OCA, BSA and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80

Disclaimer
This press release contains forward-looking statements concerning Implanet and its activities. Such forward looking statements are based on assumptions that Implanet considers to be reasonable. However, there can be no assurance that the anticipated events contained in such forward-looking statements will occur. Forward- looking statements are subject to numerous risks and uncertainties including the risks set forth in the registration document of Implanet registered by the French Financial Markets Authority (Autorité des marchés financiers (AMF)) on April 16, 2018 under number D.18-0337 and available on the Company’s website (www.implanet-invest.com), and to the development of economic situation, financial markets, and the markets in which Implanet operates. The forward-looking statements contained in this release are also subject to risks unknown to Implanet or that Implanet does not consider material at this time. The realization of all or part of these risks could lead to actual results, financial conditions, performances or achievements by Implanet that differ significantly from the results, financial conditions, performances or achievements expressed in such forward-looking statements. This press release and the information it contains do not constitute an offer to sell or to subscribe for, or a solicitation of an order to purchase or subscribe for Implanet shares in any country.

¹ Conditions detailed in the press released of March 8, 2018
² Clinical study by Dr. H. Francis Farhadi of the Ohio State University Medical Center (USA).

LYON, France & NEW YORK–(BUSINESS WIRE)–The Medicrea Group (Euronext Growth Paris: FR0004178572 – ALMED, PEA-PME eligible, and OTCQX: MNRTY and MNRTF), pioneering the transformation of spinal surgeries through Artificial Intelligence, predictive modeling and patient specific implants with its UNiD™ ASI (Adaptive Spine Intelligence) technology, has today published its unaudited results for the first half of 2018, as approved by the Board of Directors on September 12, 2018.

First Half 2018 Results

Sales for the first half of 2018 amounted to €16.9 million, marked by two quarters of record invoicing in 2018 resulting in growth of 15% in comparison with the first half of 2017 and 22% at constant exchange rates. The 50% increase in personalized UNiD ASI™ surgery in the United States, the recovery of sales in Brazil, the strengthening of market share in France and the opening of new subsidiaries (Belgium and Australia) are behind this performance.

Gross margin, down in comparison with the first half of 2017, was impacted by a number of one-off factors: the unfavorable currency effect of the dollar/euro conversion, a different mix of sales in comparison with the same period of 2017 and some exceptional inventory discrepancies. The decrease in sub-contracting expected during the second half of the year should have a favorable impact on the gross margin rate.

Operating expenses increased by €1.8 million as a result of Research & Development investments to complete the range of UNiD ASI™ products and services, and the integration of the marketing and administrative expenses of the newly-created subsidiaries.

The operating loss for the first half-year stood at €4.6 million and the loss before tax, after taking into account the cost of net financial debt, was €6.5 million.

Cash at June 30, 2018 amounted to €5.1 million, strengthened by the €3.1 million equity raise which took place beginning of July.

Outlook

Net loss for the first half of 2018 reflects the significant and necessary investments made by the Group to gain recognition for its position as a leading and strategic player in the field of personalized spine surgery.

The spinal market has entered a period of consolidation with 12 merger-acquisition transactions over the last 12 months, including two major deals announced very recently with the purchase in the United States of K2M by Stryker, and of Surgimap, a surgical planning software developer, by Globus Medical.

This trend reflects the growing interest of leading market players in planning tools solutions for the treatment of spinal pathologies. Medicrea has established itself as the worldwide leader and has set the industry standard in the segment by being the only company to date to use cutting-edge analysis tools based on artificial intelligence and predictive modeling to offer customized implants to treat each patient’s individual pathologies.

Medicrea’s UNiD ASI™ technology is therefore becoming increasingly popular with surgeons who are incorporating it into their day-to-day practice: to date, more than 2,800 patients have been operated on using personalized implants, and the number of UNiD ASI™ procedures performed in the United States has grown by 60% in relation to 2017.

“The approach we have developed is specific and tailored to each patient. It will become a standard of care and replace the traditional approach of spinal surgery, which has used commoditized implants for many years,” said Denys Sournac, Chairman and CEO of Medicrea.

Medicrea continues to consolidate its presence and visibility on the US territory

In July 2018, 4 US-based international institutional investors participated in a capital increase worth €3.1 million through the issue of ordinary shares with warrants attached (€4.8 million in the event of all the warrants being exercised).

Since August 28, 2018, Company’s securities are traded on the US OTCQX Best Market (“OTCQX”). In addition to trading on the Euronext-Growth market, this listing will give Medicrea the opportunity to increase its visibility within the US and grow its investor base.

Medicrea will be attending the 33^rd annual meeting of the North American Spine Society (“NASS”) which will be held between September 26 and 29, 2018 in Los Angeles, California. During this major conference, the Company will present the latest innovations from its proprietary UNiD ASI™ (Adaptive Spine Intelligence) patient-specific technology for personalized spine surgery to leading orthopedic surgeons.

Next publication: Sales for the 3^rd quarter of 2018: October 11, 2018, after market.

About Medicrea ( www.medicrea.com )

Through the lens of predictive medicine, Medicrea leverages its proprietary software analysis tools with big data and machine learning technologies supported by an expansive collection of clinical and scientific data. The Company is well-placed to streamline the efficiency of spinal care, reduce procedural complications and limit time spent in the operating room.

Operating in a $10 billion marketplace, Medicrea is a Small and Medium sized Enterprise (SME) with 200 employees worldwide, which includes 50 who are based in the U.S. The Company has an ultra-modern manufacturing facility in Lyon, France housing the development and production of 3D-printed titanium patient-specific implants.

For further information, please visit: www.medicrea.com

Connect with Medicrea
FACEBOOK | INSTAGRAM | TWITTER | WEBSITE | YOUTUBE

Medicrea is listed on 
EURONEXT Growth Paris 
ISIN: FR 0004178572 
Ticker: ALMED 
LEI: 969500BR1CPTYMTJBA37

Medicrea is traded on 
OTCQX Best Market 
Tickers: MNRTY & MRNTF

PARIS & SAN FRANCISCO–(BUSINESS WIRE)–Regulatory News:

SpineGuard (FR0011464452 – ALSGD) (Paris:ALSGD), an innovative company that designs, develops, and markets disposable medical devices intended to make spine surgery safer by bringing real-time digital technology into the operating room, announced today financial results for the half year ending June 30, 2018, as approved by the Board of Directors on September 18, 2018.

Stéphane Bette, CEO of SpineGuard, said: “Our results are in line with our objectives and demonstrate that we are moving toward our operational profitability goal by year-end. Strengthened by our recent financings, we will continue to invest for our growth with a focus on the United States, the DSG smart screw as well as to prepare for the future with the digital and robotic applications of our DSG® technology.”

NB : unaudited

Operating break even for year-end well underway

Operating loss improves by 50% at – €839K- vs. – €1,678K and EBITDA improves by 70% at – €483K at June 30, 2018 compared to – €1,612K at June 30, 2017.

Operating expenses were €3,970K compared with €5,139K for H1 2017, a decrease of €1,169K compared with June 30, 2017.

Gross margin of 86.3% at June 30, 2018 compares favorably with the prior year result of 86.0%. The change mainly reflects a stronger ASP in the USA, in particular, thanks to the PediGuard Threaded and the permanent actions on cost of goods.

For H1 2018, the Company reported revenue of €3,626K, down 5% cc (14% reported) compared with H1 2016.

Revenue in the United States decreased 1% cc (-11% reported) to €3,022K in the first half of 2018, compared with €3,397K in the first half of 2017. In the rest of the world, revenue decreased 25% during the first half of 2018 to €604K compared with €802K in the first half of 2017.

4,352 DSG units were sold in the first half of 2018 compared with 4,264 in the first half of 2017, including 2,599 in the United States, representing 61% of total units sold.

Working capital requirements were €806K compared with €706K at December 31, 2017.

At June 30, 2018, cash and cash equivalents were €861K compared with €1,190K at December 31, 2017, and is explained as follows:

• The operating cash flow of €(566)K compared with the same period last year of €(1,494)K.
• Equity funding using the equity line (OCAPI) for a gross amount of €1,200K throughout the period.
• The payment of interests to IPF Partners of €173K and to Bpifrance of €37K.
• The repayment of capital to IPF Partners of €525K.

The Company’s workforce count is 20 at H1 2018, compared to 22 at the end of December 2017.

Recent events and outlook:

• In every operating room around the world, SpineGuard continues to demonstrate the value of its dynamic surgical guidance technology in market looking for innovation and safer and enhanced clinical solutions. The DSG technology platform remains unique in its ability to differentiate tissues in real time with reduced X-ray exposure for the surgical teams;
• In the USA, the commercial launch started at the end of 2017. It was completed in April 2018 with an agency contract with Zavation under which SpineGuard Inc. acts as a commercial agent in certain key accounts in the country;
• The distribution in China with our partner XR Medical continues to bear fruit with a 600 unit order in H1 and exciting perspectives both for the second half of 2018 and long term in the second largest market worldwide after the USA;
• SpineGuard and ConfiDent ABC (Adin Group) continue to work in close partnership to accelerate the deployment of the DSG technology in dental implantology;
• SpineGuard is actively pursuing other industry partnerships for expanded commercial applications of its proprietary digital DSG technology within the spinal and broader musculoskeletal sector to trigger new sources of revenue;
• In early September, SpineGuard secured €9.0m of financing consisting of: 1) the issuance of a €6.0m euro bond facility with Norgine Ventures and Harbert European Fund Advisors in substitution of IPF Partners in two tranches and; 2) a new equity line in the form of a €3.0m convertible bond facility with Nice & Green (OCAPI) over a period of 15 months. The line has zero associated warrants. SpineGuard estimates that these combined financings provide for an extended runway until August 2020.

SpineGuard delivers on its profitability plan to reach operating breakeven by the end of 2018.

Next financial press release: Third quarter 2018 revenue on October 11, 2018

About SpineGuard®
Founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG® (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries. PediGuard®, the first device designed using DSG, was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Over 60,000 surgical procedures have been performed worldwide with DSG® enabled devices. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard® delivers to patients, surgical staff and hospitals. SpineGuard is expanding the scope of its DSG® platform through strategic partnerships with innovative medical device companies and the development of smart instruments and implants. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.

Disclaimer
The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.