Xlife Sciences AG / Key word(s): Half Year Results 21-Sep-2023 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Xlife Sciences (SIX: XLS) today reported on its operational progress in H1 2023 and published its key financial figures for the reporting period. Xlife Sciences’ full half-year report 2023 is available for download as a PDF document at https://www.xlifesciences.ch/en/news-and-key-figures in the “Financial Reports” section. Operational Highlights As of 30 June 2023, Xlife Sciences had 26 project companies. Among other things, these made the following operational progress during the reporting period:
Geographical expansion of business activities In addition, in mid-August, Xlife Sciences signed an agreement with the Department of Health – Abu Dhabi (DoH), the health authority of the Emirate of Abu Dhabi. This agreement aims to improve the lives of patients in the emirate and neighboring regions by focusing on three key pillars: strengthening and promoting innovation, leveraging our company’s business model, and conducting research and clinical trials. The collaboration enables the implementation of a financing structure funded by partners in the local ecosystem. This will support the growth of both existing Xlife Sciences projects and future innovations. The already established local subsidiary will be supported with efficient project transfers and rapid occupation of office and laboratory space in the course of 2023. The local partner ICEBERG Capital, which has the required license from the local regulatory authority, will establish a financing framework (fund) to support the start-ups, founders, and projects. A joint selection committee will be formed to evaluate start-ups for funding, provide incubation training and mentoring, and develop marketable solutions. The internationalization of Xlife Sciences is also to be continued through a stronger presence of our company in the USA and Asia, and the corresponding measures are to be implemented from 2024. Financial Key Figures
Xlife Sciences was able to further validate the company’s business model in the first half of 2023 through the sale of shares in Laxxon Medical. The exit pipeline continues to expand and work on further transactions is ongoing with high priority together with M&A and business development advisors. In the coming months, the remaining 54% of Xlife Science’s share in Laxxon Medical will also be sold in the coming months. Outlook Oliver R. Baumann, CEO of Xlife Sciences, commented: “The year 2023 has so far been characterized by volatile markets, concerns around inflation and rising interest rates, scenarios of a cooling economy and a market environment focused on profits rather than growth. The successes achieved in the first half of the year show that our company is well positioned for this challenging environment and the resulting opportunities. Until the end of the year, the focus will be on successfully partnering projects and thus creating added value for our investors. The timing is ideally suited for this, as two thirds of our portfolio have now reached “proof of concept” status. The ongoing process initiated by the Board of Directors to review strategic options is progressing according to plan; we currently expect to complete this process by the end of the year”. Financial calendar Annual Report 2023 23 April 2024 Annual Shareholders Meeting 2024 20 June 2024 Half-Year Report 2024 19 September 2024 Xlife Sciences AG, End of Inside Information |
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