2017 has been a very busy year and I am proud to report Elanix has made important strides and met the crucial business objectives we set to achieve. We have further solidified our progenitor cell technology and product portfolio, proven our technology in addressing unmet clinical needs beyond the home market, and established important new partnerships.
As we begin another year, I would like to share some of our past year’s highlights and review the important milestones we passed as a company:
In February, we secured our third capital increase with astonishing speed. In three weeks, we raised EUR 4.8 million with a 28% oversubscription rate. This allowed us to cover past liabilities, increase our sales & marketing staff, launch our first product in the EU, and establish logistic channels.
At the end of May, we launched our CFPC® specialty cosmetics gynaecological product in Europe. You can learn more about GYNrepair here: https://gyn-repair.com/
In June, our Taiwanese licensee partner TW-Bio gained approval from Japanese and Taiwanese Health Authorities to carry out clinical trials with human patients in their territories. TW-Bio uses Elanix progenitor cells in its US FDA-approved hydrogel for advanced wound care treatments of burn patients. This is another validation of our tissue-regeneration technology as a safe and efficient product recognized beyond Switzerland and an important step towards market authorisation in the Far East.
At the Elanix Shareholders General Assembly in August, the shareholders present approved all topics proposed by the management. This included the resolution on our third capital increase to be completed by end of February 2018.
In September, we opened a new office in Wiesbaden DE and signed an agreement with German health care service company Dermacon for them to become our EU partner for logistics and other strategic services. They are now responsible for shipping GYNrepair in Europe for any orders outside of Switzerland. In fall we have also expanded our wholesale network to simplify and speed up the distribution of our Swiss made products in Western Europe.
Since November, we have been travelling to road shows across Europe to present and explain our technology and business model. The objective is to increase visibility and understanding of Elanix Biotechnologies and secure the third financing round of approximately EUR 6-7 million by end of February. The current capital increase is made possible with Prospectus (WPP) approved by BaFin, Germany’s Federal Financial Supervisory Authority, at the end of November.
In December, Elanix finished the year according to plan, met its sales target, and signed a distribution deal to enter the BENELUX market.
In 2018, Elanix will move forward on a number of projects that include: the launch of a new product in specialty cosmetics, tackling regulatory clearance of our advance wound care franchise, and the securing of further strategic and sales agreements with new partners. Our revenues should continue multiplying.
We are excited to begin our 3rd year since listing and to allow even more people to benefit from our allogenic progenitor cell technology that has the potential to change the future of tissue-regeneration.
Thank you for your confidence and let’s continue together our journey for a better future.
Tomas J. Svoboda, CEO
Berlin, Jan 15 2018