AMOEBA: Additional information and areas for growth

AMOEBA: Additional information and areas for growth    

Chassieu (France), February 15, 2024 – 8:45 am - AMOÉBA (FR0011051598 - ALMIB), an industrial biotech specialized in the treatment of microbiological risk, developing a biocontrol agent for crop treatment in agriculture and an anti-aging cosmetic ingredient announces additional information following a change in governance, and a review of the company's growth focus.

As part of Amoéba's reorientation from a research and development company to a commercial and industrial company, the new management team has established a strategy aimed at prioritising a range of highly profitable products that can be brought to market as quickly as possible. The aim of this strategy is to maximise the company's value as soon as possible for the benefit of all its shareholders.

The Company is therefore undertaking the following actions:

Biocontrol

This market segment is at the heart of the Company's activities. The regulatory assessment of the active substance at European level is approaching its final stage, and should be completed in September 2024. The European Commission will then have six months to formalise the decision to register the active substance. At the same time, applications for registration of AXPERA NOA and AXPERA EVA formulated products will be submitted in 8 European countries (France, Italy, Spain, Greece, Portugal, Germany, Belgium and the Netherlands). Marketing authorisations should be obtained by mid-2025.

At the same time, regulatory submissions for AXPERA NOA and AXPERA EVA will be made in the United States in 2024, with approval expected in mid-2025.

At the same time as taking these regulatory steps, Amoéba is preparing its distribution strategy in Europe and the United States. With regard to the targeted crops, the refocusing on high-margin market segments means that the importance of the vine sector will be put into perspective in the short term, even though agreements with major brands are still on the table. Greenhouse crops, which are more profitable, will initially be favoured in terms of resources and sales effort.

Cosmetics

As announced in the press release of 16 October 2023, “The cosmetics market is a fast-growing industry that has been called into question in recent years because of the chemical origin and the health and environmental impacts of its ingredients. Once incorporated into a cosmetic formulation, this new cosmetic ingredient, with its many beneficial effects, can provide a multifunctional natural product.”

Initial test results for the cosmetic ingredient on artificial skin have shown excellent results (see pressrelease of 16 October 2023). An initial clinical study conducted by the Institut d'Expertise Clinique and involving 30 volunteers is scheduled to begin at the end of this month and will deliver its results at the start of the second half of 2024. 

This relatively recent application is extremely interesting because of its high added value, the speed and ease with which a high-quality active ingredient can be brought to market, and also because Amoéba already has the necessary and sufficient production capacity to develop this application successfully.

In order to identify other markets, various uses will be tested in 2024, in particular hair treatment (loss and regrowth) and wound healing.

Biocide 

This activity is no longer considered a strategic focus for Amoéba, given the refusal of its approval by the European Commission. 

However, the biocidal product is approved in the United States for the treatment of water in closed cooling circuits, and steps are being taken to sell this business there.

With a view to disposal, this asset may also be attractive to water industry operators located in countries where registration applications have not yet been filed (Asia, Africa).

Manufacturing

The postponement of the construction of the Cavaillon plant, whose capacity was not in line with the commercial developments expected in the short term, has been confirmed, and agreements have been reached with the companies involved in building the plant in order to minimise the cash-flow impact. In addition, studies on a targeted investment to increase the capacity of the pilot lines located at the Company's head office in Chassieu are nearing completion. The Chassieu manufacturing unit will ensure sales of products for the Biocontrol and Cosmetics businesses until the end of 2026.

Finance 

Amoéba's new strategic direction is supported by its main shareholder, Nice & Green SA (an investment company based in Switzerland), which continues to support the company by providing standard bond loans to cover the sums needed for its operations.

About AMOÉBA : 

Founded in 2010, Amoéba is a biotech company based in Chassieu (Lyon, France) whose ambition is to become a major player in the treatment of microbiological risk in the plant protection and health sectors. Based on the natural properties of a unique micro-organism, our biological solutions are a viable alternative to the chemical products widely used today. Amoéba is currently focusing on the global biocontrol market for plant protection and on the cosmetics market. 

As the marketing of plant protection products is subject to local regulatory approvals, the Company has taken the necessary regulatory steps and obtained approval for its active substance in the USA in 2022, as well as a recommendation for approval in Europe from the Austrian authorities. Cosmetic applications do not require prior approval from a competent authority in Europe or the United States, but the person responsible for marketing the formulated cosmetic product must carry out a self-assessment of its safety.  

Amoéba is listed on Euronext Growth. The company is a member of the BPI Excellence network and is eligible for the PEA-PME scheme. For more information, visit www.amoeba-nature.com.

Contacts:

 +33 (0)4 81 13 05 61  +33 (0)1 53 65 37 90 / 91  jf.doucet@amoeba-nature.com  amoeba@calyptus.net

Disclaimer

This press release contains certain forward-looking statements concerning AMOÉBA which are based on its own assumptions and estimates and on information that is currently available to us. However, AMOÉBA gives no assurance that the estimates contained in such forward-looking statements will be verified, with these estimates subject to numerous risks, including the risks set forth in AMOÉBA’s universal registration document filed with the French Financial Markets Authority

(Autorité des Marchés Financiers) on April 18, 2023 under number D23-0296 and available on the AMOÉBA website (www.amoeba-nature.com). The forward-looking statements contained in this press release are also subject to risks not yet known to AMOÉBA or not currently considered material by AMOÉBA. The occurrence of all or part of such risks could cause AMOÉBA’s actual results, financial conditions, performance or achievements to be materially different from such forwardlooking statements.