c-LEcta Grows Significantly in Fiscal Year 2019, Strong Start In 2020
c-LEcta, a global biotechnology company with technology leadership in enzyme engineering and bioprocess development, successfully concludes 2019 and looks confidently to 2020 after a strong first quarter. The successful development of both the product business and the development partnerships resulted in a 114% increase in revenues in 2019 compared to the previous year to currently EUR 9.1 million (2018: EUR 4.2 million). Total revenues including inventory increases of finished goods and own work capitalized amounted to EUR 9.6 million (2018: EUR 4.5 million).
The company thus again grew significantly in 2019 and even exceeded its already ambitious plans. Earnings before interest, taxes, depreciation and amortization (EBITDA) also developed better than planned, slightly above break-even at EUR 0.2 million. In the previous year, the strategic realignment to concentrate on the product business had temporarily burdened EBITDA. The strong development of the product business was also the reason for the particularly good results for the full year 2019. c-LEcta had driven forward the development and distribution of its own products in particular as of recently. This strategy clearly paid off already in 2019 with product revenues growing by 181%. The existing project business in strategic partnerships also grew by 3%.
“The positive development of EBITDA in particular demonstrates the sustainability of c-LEcta’s business model. Currently, however, the strategic focus clearly remains on the further growth of the company and the investments necessary to achieve this,” said Marc Struhalla, CEO and co-founder of c-LEcta. “We are proud of last year’s revenue growth. 114% growth in one year shows us that the strategic changes of the last two years were right. This is already evident in the current year as well. We got off to a good start in 2020 thanks to the product business that has now been prioritized, and are therefore well on track for the year as a whole,” added CFO Thomas Pfaadt.
The number of employees increased further in 2019. In total, c-LEcta had 76 employees as of December 31, 2019. In the course of the year 2020, nine new employees have been hired so far. Thus c-LEcta once again proves its attractiveness as an employer and its ability to attract very good employees even in a tight job market. This will enable the company to continue to drive its current projects for development and distribution of its own products in the future.
These products are aimed at customers in both the pharmaceutical and food industries. c-LEcta is well positioned in both markets and therefore has a solid basis for further growth, especially in the current economic situation. This includes the product DENARASE, for example that is required in the production of vaccines in order to free the finished products from DNA residues from the production process. The increased demand for DENARASE in the first quarter of 2020, among other developments, has resulted in solid growth momentum in the first months of the current year.
c-LEcta again expects to expand its own product portfolio in fiscal year 2020. This includes a new enzyme product for the food sector. In the pharmaceutical sector, the introduction of an ELISA kit in the first half of 2020 will be aimed at proving the residue-free removal of DENARASE from the final product.
“Our product pipeline remains well filled. This is reflected in the product launches planned for 2020. But in the medium and long term as well, we are working on a number of promising products that each have global sales markets. In doing so, we are using our positioning with currently two primary target markets and the two segments of product business and partnerships to optimally exploit our technological platform,” commented Marc Struhalla.
Based on the good results in 2019 and the current business situation, management expects further sales growth in 2020 beyond the results that were achieved in the previous year.
c-LEcta is a world-leading biotechnology company with a focus on enzyme engineering and application in regulated markets like the food and pharma industries. The company is based in Leipzig, Germany, and has established itself as a leading player in the realization of high-value biotech products, either in the form of in-house developments or in close cooperation with industry. The company currently employs more than 80 people.
c-LEcta delivers cost-efficient and sustainable production processes which open new markets and allow for better penetration of existing markets. The company is characterized by fast and efficient development of best-in-class biotech solutions and a rapid and successful market introduction and commercialization of the resulting products. This enables c-LEcta to leverage the unique potential of its core technologies. c-LEcta has a proven track record of more than ten successfully commercialized high-value industrial biotech products.
Phone: +49 (0) 611 - 205855 – 64
Fax: +49 (0) 611 - 205855 – 66
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Takeda Provides Updates on Its Pharmacokinetic-guided Prophylaxis Studies at ISTH 2020, Reinforcing Its Commitment to Advancing Personalized Care for People with Bleeding Disorders12.7.2020 14:30:00 CEST | Press release
Takeda Pharmaceutical Company Limited (“Takeda”) (TSE: 4502/NYSE:TAK) today announced that 13 abstracts are being presented from the company’s Hematology portfolio and pipeline at the International Society on Thrombosis and Haemostasis 2020 Virtual Congress (ISTH 2020). Among the data, Takeda spotlighted four abstracts to highlight its commitment to advancing personalized care through pharmacokinetic (PK)-guided prophylaxis in people living with hemophilia or von Willebrand Disease (VWD) – including scientific updates in patients with hemophilia A from the Phase 3 PROPEL and Phase 3b CONTINUATION studies investigating potential benefits of personalized TAK-660 (rurioctocog alfa pegol) prophylaxis. Two population studies into the PK/pharmacodynamic (PD) profiles of recombinant von Willebrand factor (rVWF), which provide data to assist in the optimization of rVWF personalized dosing strategies, were also presented. Takeda addresses the unique needs of each patient with personalized care
VR Fitness Developer FitXR Secures $7.5 Million In Series A Venture Round Led by Hiro Capital10.7.2020 08:00:00 CEST | Press release
FitXR, the leading VR fitness company, today announces that it has secured $6.3m in investment funding, led by Hiro Capital, with continued support from U.S.-based BoostVC, Maveron and TenOneTen Ventures, together with an additional $1.2m in the form of an innovation loan, from Innovate UK. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200709005856/en/ Cherry Freeman, Co-Founding Partner, Hiro Capital (Photo: Business Wire) FitXR, who had previously secured $1.25 million in seed funding from investors, will use the new investment to expand its operations in Europe and North America, and to accelerate launch of several exciting new products and services for people to keep fit in Virtual Reality. The investment marks a significant show of belief in FitXR, who over the last year has grown to become one of the leaders of the VR fitness sector, with its mission to put the fun back into fitness. Its first product, the boxing rhyt
Laboratory Studies Confirm BETADINE® Antiseptic Products’ Effectiveness Against COVID-19 Virus10.7.2020 00:37:00 CEST | Press release
Mundipharma today announced that laboratory testing at the Duke-NUS Medical School in Singapore, has confirmed the effectiveness of its BETADINE® antiseptic products against the novel coronavirus (SARS-CoV-2) which causes COVID-19 disease. Testing has demonstrated BETADINE’s® strong in-vitro virucidal activity, killing 99.99% of the SARS-CoV-2 virus in 30 seconds. The products subjected to testing were: BETADINE® antiseptic products, namely Solution (10% PVP-I), Skin Cleanser (7.5% PVP-I), Gargle and Mouthwash (1.0% PVP-I) and Throat Spray (0.45% PVP-I). The research has been published in the respected Infectious Disease and Therapy Journal on 08 July 2020. “These results confirm our view that BETADINE® antiseptic products, used appropriately and in conjunction with other preventative treatment options including PPE, can play a role in limiting the spread of infections, including COVID-19,” said Raman Singh, CEO Mundipharma. “It also provides the medical community as well as consumers
New Evidence Shows Morinaga Milk’s Probiotic Bifidobacterium breve A1 Improves Memory of Older Adults With Cognitive Dysfunction9.7.2020 20:00:00 CEST | Press release
Morinaga Milk Industry Co., Ltd. (TOKYO:2264), a leading Japanese dairy product company and a key global probiotics manufacturer, confirmed that its proprietary probiotic strain Bifidobacterium breve A1 (a.k.a. B. breve MCC1274) is safe and effective for improving memory functions of older adults with suspected mild cognitive impairment (MCI) in a randomized, double-blind, placebo-controlled trial (RCT). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200709005032/en/ Figure 1. Changes of RBANS scores at 16 weeks from baseline. Values are indicated as mean with error bars as the standard error. **p<0.001, ***p<0.0001, inter-group difference, Student’s t-test. (Graphic: Business Wire) The new study, published recently in the Journal of Alzheimer’s Disease, has produced breakthrough results uncovering a novel promising probiotic intervention for early dementia prevention. The clinical study conducted by a clinical research orga
rf IDEAS and Ricoh Simplify Secure Access to Multifunction Printers9.7.2020 18:05:00 CEST | Press release
rf IDEAS, a leading manufacturer of credential readers for authentication and logical access, today announced with Ricoh the integration of its WAVE ID® Plus dual-frequency card reader technology with Ricoh’s Smart Operation Panel (SOP), Gen 2.5. The new WAVE ID Ricoh Universal SOP Reader is the most innovative reader for secure pull-print applications with Ricoh multifunction printers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200709005764/en/ WAVE ID® Ricoh Universal SOP Reader (Photo: Business Wire) rf IDEAS and Ricoh have a proven record of working together to deliver secure workplace solutions that feature the most advanced identification and authentication capabilities. “As we continue our worldwide partnership with a leader in the print industry, we are delighted that Ricoh chose rf IDEAS to develop an innovative credential reader design that connects to its A3 multifunction devices,” said Tod Besse, senior vice
Immersive Labs Adds Tenable Co-Founder and Security Industry Veteran Jack Huffard to its Board of Directors as Demand for Improving and Measuring Cyber Talent Grows9.7.2020 17:46:00 CEST | Press release
Immersive Labs, the company empowering organizations to equip, exercise, and evidence human cyber capabilities, announced Jack Huffard, a co-founder and board member of Tenable (Nasdaq: TENB) will join its board of directors to help drive growth. This comes on the heels of Immersive Labs’ recent expansion into the U.S. market, backed by Goldman Sachs and Summit Partners with $50M in financing, after four successful years of fast-growth and an impressive customer roster in the UK and the U.S. With the addition of Huffard to the board, a cybersecurity industry business leader who helped Tenable through its fast growth and successful IPO, the Immersive Labs team is well-suited for its next phase of innovation and market leadership. Huffard also currently serves as a board director for Norfolk Southern Corporation (NYSE: NSC) and is a member of the National Security Telecommunications Advisory Committee (NSTAC), helping the US government navigate pressing national security issues and stren
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom