Artgen Biotech’s performance for 9 months of 2024 according to RAS

Artgen Biotech (MOEX: ABIO), a biotech company with a development portfolio of innovative drugs and treatments to more effectively combat human diseases, has published its performance statement for the first 9 months of 2024 in accordance with Russian Accounting Standards (RAS).

Artgen Biotech’s income from membership in other companies for the first 9 months of 2024 amounted to RUB 253.63 million, which is twice as much as for the same period in 2023. As a result, the company’s net profit increased three and a half times from RUB 63.19 million to RUB 220.72 million. The increased income from membership in other companies is due to the growing flow of dividends from subsidiaries.

Key events related to Artgen Biotech’s research and development:

• Artgen Biotech’s Board of Directors has approved an updated development strategy for 2024-2026 that includes goals for financing new early developments to build a portfolio of 30 candidate drugs for the treatment of genetic, age-related, infectious, and oncological diseases. The drug portfolio is being developed by biotech startups, with the support of Artgen Biotech’s internal ecosystem, aimed at accelerating the development and implementation of developments in medical practice.
• The Russian Ministry of Health has issued a permit to conduct clinical trials of Russia’s first and the world’s second combination vaccine for the prevention of influenza and coronavirus infection: Ultrix Combi. The drug is being developed by the Nacimbio holding of the Rostec State Corporation jointly with Artgen Biotech.
• Artgen Biotech has entered into an investment agreement with the developer of gene-activated materials, Histograft, to invest in the development of 5 new medical devices for tissue engineering, and Artgen Biotech’s consolidated share in Histograft will increase to 64%.
• Histograft has begun clinical trials of gene-activated osteoplastic material for treating patients with degenerative-dystrophic spine diseases.
• Histograft has been granted a U.S. patent, protecting the composition and manufacturing technology of the Histograft gene-activated bone grafting material.
• Nextgen, a member of the Artgen Biotech Group, has received a permit from the Russian Ministry of Health to conduct clinical trials of the Neovasculgen gene therapy drug for interstitial cystitis.
• RBT, a member of the Artgen Biotech Group, has conducted preclinical studies of the effect of its new immunomodulatory drug, Betusphere, on the immune system when administered intramuscularly and systemically.
• Genotaget, a member of the Artgen Biotech Group, has completed preclinical studies of its new gene therapy drug, GTDF102, for muscular dystrophy known as dysferlinopathy.

Key events of Artgen Biotech’s financial and economic activities:

• The Analytical Credit Rating Agency (ACRA) has upgraded the company’s credit rating to ВВВ-(RU) on the Russian national rating scale, with a stable outlook.
• In 2023, the company paid dividends of RUB 1,20 per ordinary share.
• Artgen Biotech has granteda convertible loan of RUB 20 million to Adena, a biotech startup developing innovative drugs and vaccines.
• Artgen Biotech is investing RUB 80 million in the development of the production component of the platform of RBT, a member of the Artgen Biotech Group.
• ACRA has upgraded the credit rating of Gemabank (IMCB, MOEX: GEMA), a member of the Artgen Biotech Group, to BBB-(RU) on the Russian national rating scale, with a stable outlook.
• In 2023, the Gemabank has paid dividends of RUB 2, 20 per ordinary share.
• Moscow Exchange has listed shares of the Genetico Center (CGRM, MOEX: GECO), a member of the Artgen Biotech Group, in a new index: Moscow Exchange IPO (MIPO).
• Genetico shareholders decided to increase the company’s authorized capital by RUB 70 thousand. The authorized capital will be increased through the placement of 7 million additional shares by private subscription to be bought by the Artgen Biotech Group.

Results summary

Key profit & loss statement indicators for 9 months of 2024