BioTissue Technologies AG
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Press Conferece BioTissue Technologies AG 26.03.02 Stuttgart
Corporate-news announcement sent by DGAP.
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Freiburg/Stuttgart, March 26th, 2002 – Last year, thanks to successful
diversification of its product portfolio, BioTissue Technologies AG, a pioneer
in the field of producing human tissue culture from autologous cells under
laboratory conditions (tissue engineering), was able to shore up its innovative
lead in the tissue engineering market, but did not achieve its sales targets.
Sales rose to Euro 1.13 million in comparison with the previous year’s figure of
Euro 0.39 million: At Euro -5.8 million, earnings before interest and tax were
slightly better than expected (previous year Euro -3.46 million). The undiluted
per share performance stood at Euro -1.19 (Euro -1.66). The payroll increased
from 36 to 60.
Delays in the startup phase for three products which had already been marketed
and, more particularly the delayed introduction of two products not actually
launched until the end of the year accounted for this failure to meet sales
targets. These products were not available until several weeks later than
expected which meant that the projected volume of sales could not be achieved.
Viewed as a whole, business 2001 was a success for BioTissue Technologies AG,
reported the new CEO Dr. Victor Tiegermann at today’s accounts press conference
in Stuttgart. By launching three more tissue replacement products we have
succeeded in extending our skin replacement range to include bone and cartilage.
We now have a basis for high growth longterm. Tiegermann succeeded previous CEO
Dr. Wilhelm Brandner on March 1st, 2002. In this role, Tiegermann is
simultaneously responsible for the Marketing and Sales Divisions.
As well as the launch of three new products, business 2001 saw the signing of a
first sales cooperation agreement that has put in place the necessary conditions
for the projected sales growth in all corporate divisions in terms of
organization and personnel, as well as establishing the formal conditions for
exporting our products to the European market.
Tissue engineering involves cultivating tissue using autologous cells
transplanted from the patient under strict clean-room conditions and then re-
transplanting the result in association with the relevant optimum base material
(backer matrix). The process allows for successful treatment of chronic or
previously incurable tissue defects such as open wounds or bone or joint
cartilage defects.
The five products that BioTissue Technologies AG developed to market maturation
by the end of 2001 and now markets are skin replacement product BioSeed-S,
pigment cell replacement MelanoSeed, autologous oral mucosa replacement BioSeed-
M, three-dimensional cartilage replacement BioSeed-C and autologous jawbone
replacement BioSeed-Oral Bone.
Because of our successes in healing and the opportunity we offer to cut overall
treatment costs our innovative tissue engineering products will prevail over
conventional treatment methods, concluded Tiegermann. In many cases, this
technology is the first to offer the patient the promise of successful
treatment.
For the year 2002, the company plans to boost sales by some 400 percent, relying
mainly on the two newest, higher-priced products, BioSeed-Oral Bone and
BioSeed-C. For the first time, sales outside Germany are also scheduled. The
company also plans to improve its operating performance (EBIT) by 20 to 25
percent. By 2005, BioTissue expect average sales growth in the triple-digit
percentage region.
The conditions for this continued strong company growth are good, we are
outstandingly well-equipped for the challenges the market has to offer.
BioTissue boasts patented key technologies and a diversified product portfolio,
ranging from dermatology through oral surgery to orthopedics. Our future
strategy will be concentrating particularly on the large and lucrative markets
in dentistry, oral and accident surgery and orthopedics, reported Tiegermann at
the accounts press conference.
BioTissue Technologies AG was established in 1997 as a spin-off of Freiburg
University Medical Center. The IPO at Frankfurt’s Neuer Markt took place on
December 1st, 2000.
Contact BioTissue Technologies AG, Martin Braendle, Investor- and Public
Relations Manager, Engesserstrasse 4a, D-79108 Freiburg, Tel. +49 (0)761 7676-
110, Fax +49 (0) 761 7676-155, martin.braendle@biotissue-tec.com
end of message, (c)DGAP 26.03.2002
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