Artificial Intelligence

Selvita Group reports over 109% increase in revenues for H1 2021

Published

3 years ago

September 22, 2021

Selvita (WSE: SLV) – one of the largest preclinical contract research organizations in Europe, continues its dynamic development in Poland and abroad.

Following the acquisition of Fidelta, Selvita Group achieved in the first half of 2021 over a two-fold increase in sales revenue comparing to the corresponding period of the previous year. The increase in EBITDA and net profit was even higher, significantly influenced by the high profitability of the services executed by Fidelta.

Dynamic increase in all business segments

Selvita, along with its subsidiaries, has continued its dynamic growth in all business aspects.

Revenues from services executed in Poland amounted to EUR 14.4 million and were higher by 17% compared to the first half of 2020, when they amounted to EUR 12.5 million. This increase in revenues was achieved with a very high base from the first half of 2020, when a record, almost 50% revenue dynamics were noted. EBITDA of services executed in Poland (adjusted to the impact of the stock grant program) amounted to EUR 3.2 million (margin: 21.0%).

The bioinformatics segment, represented by Selvita’s subsidiary Ardigen, closed the first half of 2021 with EUR 2.9 million in commercial revenues (EUR 3.2 million including grants), while in the corresponding period of 2020, this value amounted to EUR 1.6 million (EUR 2.0 million), which indicates an increase of 84%. Ardigen’s EBITDA amounted to EUR 0.6 million (margin: 19.1%) and was 56% higher than in the corresponding period in 2020.

Fidelta, representing the segment of services executed in Croatia, recorded EUR 13.1 million in commercial revenues with EBITDA of EUR 3.9 million (margin: 30.1%). Fidelta has been part of the Selvita Group since January 2021.

The first half of 2021 saw a dynamic increase in the sales of services on global markets. With the acquisition of Fidelta, sales in the E.U. countries and Switzerland have significantly increased, as this is where the Croatian Company generates most of its revenues. On another note, it is the organic growth of Selvita and Ardigen which resulted in a significant growth of sales in the U.S.

Group revenues from the U.S. market, the most competitive market globally, amounted to EUR 8.4 million, which indicates an increase of 81.4% y/y, emphasizing the high quality of services provided by the Company.

The first half of 2021 constituted another two very good quarters for Selvita. We recorded growth in every segment of our activity, both in Poland and globally. We are satisfied with the 17% growth in the services executed by our labs in Poland, as it is worth noting that we compare this period to the record-breaking H1 2020, when in the first months of the pandemic we recorded increases of 40-50%. The revenues generated by our Croatian company, Fidelta, which joined the Group at the turn of the year, are also growing, and what is more, it is happening along with high margins. Our other company, Ardigen also continues to strengthen its position on the AI market, maintaining the highest growth dynamics in the Group.

We have no intention of slowing down, which is why we continue to invest in the development of our teams and infrastructure. Construction of the Selvita Research Center in Krakow has begun in July this year, and the adaptation of additional over 2 000 sq m of space in Zagreb is near completion.

To ensure continued revenue growth from the North American market, the largest market for research outsourcing, we have decided to expand our sales structure in the United States. We have appointed Dean Bornilla, an extensively experienced manager, for the position of VP Sales, Head of North America. Dean will be responsible for the Company’s continued development and revenue growth in the North American market. On top of that, experienced, new members joined our European sales team, and will help build our position in this region.

We are convinced that a strong sales team, along with the best scientists working in our laboratories, are the most crucial factor supporting our further development – comments Bogusław Sieczkowski, co-founder, significant shareholder and Chief Executive Officer at Selvita.

We are optimistic about the second half of the year, as the dynamic increase in the portfolio of contracts shows that we have a busy end of the year ahead of us. What is important, this portfolio has grown in all business segments, which shows that after the covid turmoil, stabilization is returning also to the regulatory research market – adds Sieczkowski.

Selvita Group’s backlog for 2021 currently amounts to EUR 59.8 million, showing an increase of 122% y/y, including organic backlog which has increased by 30% as compared to the corresponding period last year.

The path for further growth

Selvita has been consistently implementing the assumptions of the strategy adopted for 2020-2023, according to which the Group intends to develop through organic growth, as well as acquisitions. A significant milestone in the strategy was the acquisition of Fidelta, which contributed to a rapid improvement in the financial results of the entire Group. In the first half of 2021, the dynamics of the Group’s revenues amounted to over 100% y/y, which clearly shows how effectively the goals of the strategy are being implemented.

The organic development of the Group is also supported with investments in its own research area. The company has already started the construction of a new facility – Selvita Research Center in Krakow and has secured EUR 9.3 million of a grant funding and EUR 14.3 million of a bank loan, for that purpose. The future headquarters of Selvita will be able to provide workspace for over 250 people. The investment when completed will increase Selvita’s space by an additional 10 000 sq m, including approximately 4 000 sq m of laboratory and office space.

Significant events before the publication date

On July 12, the Group announced that it was initiating the construction of a new research center in Krakow. The company has signed an agreement with PORR S.A., which will act as the general contractor. Additional, state-of-the-art laboratory space will allow Selvita to increase its scale of operations and expand its services offer.

On September 6, Selvita received a grant funding of EUR 1 million to create a novel technological platform which will accelerate the drug discovery process. The grant came from the National Centre of Research and Development with a total of EUR 1.7 million dedicated to the project.

On September 20, Selvita received EUR 0.7 million to create technology allowing to develop new drugs against diseases caused by coronaviruses. The grant comes from the National Center of Research and Development with a total value of EUR 1.4 million dedicated to the project.

Both projects which were awarded the funding, will enable Selvita to develop innovative technological platforms allowing for a faster and more efficient drug discovery process, expanding the portfolio of drug discovery services offered by the Group.

Related Topics:Dean Bornilla latest-news Selvita Group

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Wladimir P.

Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

Artificial Intelligence

MediaGo Honored as Gold Stevie® Award winner in 2024 American Business Awards®

Published

12 mins ago

May 2, 2024

CISION (PR Newswire)

mediago-honored-as-gold-stevie-award-winner-in-2024-american-business-awards

MediaGo recognized for its deep learning technology and SmartBid product
SAN FRANCISCO, May 2, 2024 /PRNewswire/ — MediaGo, a deep learning-based intelligent advertising platform under the umbrella of Baidu Global, was named the winner of a Gold Stevie® Award in the 22nd Annual American Business Awards® for the second consecutive year – this time in the Marketing/Public Relations Solution category.

Recognized for setting a new standard in the industry for campaign performance and efficiency, MediaGo leverages Baidu’s underlying artificial intelligence (AI) technology and deep learning algorithms to empower businesses of all scales, creating tangible value for companies. With 12 operation centers worldwide, MediaGo has successfully provided localized and comprehensive business growth services to over 10,000 partners.
The American Business Awards are the U.S.A.’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for profit and non-profit, large and small. More than 3,700 nominations from organizations of all sizes were submitted this year for consideration.
When assessing MediaGo’s entry, American Business Awards judges noted that MediaGo’s “innovative use of deep learning in advertising optimization represents a significant leap forward, yielding tangible benefits for advertisers, including increased conversion rates and reduced costs per action. The significant enhancements to SmartBid technology, evidenced by substantial increases in campaign performance and efficiency, set a new standard in the industry.”
MediaGo’s SmartBid product is built on a deep neural network of over 1 billion parameters. Leveraging big data analytics and deep learning algorithms, MediaGo’s SmartBid predicts the likelihood of user conversions and adjusts the baseline bid accordingly. Furthermore, SmartBid capabilities automatically self-adjust to improve ad performance based on historical and real-time data, optimizing the advertisers’ return on investment.
“Our SmartBid product has proved itself by continuously providing substantial value to advertisers worldwide,” says Rena Ren, Americas Regional Director of Baidu Global Business Unit. “MediaGo strives to help advertisers reach their goals with easy-to-use, effective technology. Being recognized by a premier organization like the American Business Awards reaffirms our belief. ”
About MediaGo
MediaGo is an intelligent advertising platform under the umbrella of Baidu Global. Leveraging Baidu’s underlying AI technology and based on deep learning algorithms, MediaGo empowers businesses of all scales, creating tangible value for companies. With 12 operational centers worldwide, MediaGo has successfully provided localized and comprehensive business growth services to over 10,000 partners.
Learn more about MediaGo at https://www.mediago.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/mediago-honored-as-gold-stevie-award-winner-in-2024-american-business-awards-302131655.html

Artificial Intelligence

Clarivate Enhances Cortellis CMC Intelligence with Post-Approval Module to Accelerate Regulatory Success

Published

12 mins ago

May 2, 2024

CISION (PR Newswire)

Enhancements enable pharma, biotech and generics companies to streamline regulatory tracking and optimize life cycle management for small molecules and biologics
LONDON, May 2, 2024 /PRNewswire/ — Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, today announced the launch of the newly enhanced Cortellis CMC Intelligence™ solution, featuring a new post-approval variations module. The module for post-approval variations covers regulatory changes across multiple countries, offering meticulously curated requirements to streamline tracking. With this update, pharmaceutical, biotech, and generics companies can effortlessly navigate the regulatory process and prioritize essential actions.

CMC activities account for nearly 18% of the entire R&D budget, emphasizing the importance of optimization and validation. Cortellis CMC Intelligence for post-approval variations enables clients to compare requirements across 64 countries, reducing tracking time and increasing submission rates with organized, timely, and accurate information.
Justin Hubbard, Vice President, Product Management, Life Sciences & Healthcare, Clarivate, said: “This enhancement underscores our commitment to simplifying the complexities of CMC regulatory dossier submissions for our clients. By offering transformative insights, Clarivate accelerates their path to markets and patients. With the ability to efficiently compare regulations across countries for small molecules and biologics, as well as automate CMC regulatory monitoring through user-configured alerts, clients can navigate the process with confidence.”
With its new module covering both pre- and post-approval documents, Cortellis CMC Intelligence offers comprehensive lifecycle information for drugs and biologics. Serving as a single-platform solution for CMC requirements, it effectively reduces tracking time and unnecessary costs.
About Cortellis CMC Intelligence
Cortellis CMC Intelligence curates and tracks official CMC regulations and local practices for more than 135+ countries, territories and organizations for small molecules and 64 countries, territories and regions for biologics, with pre-and post-approval module coverage. Robust data is available for 25+ product and regulatory-related filters based on eCTD structure, including 6K+ source documents and over 2K links to Cortellis Regulatory Intelligence, providing access to expanded detail and in-depth summaries from experts in local regulatory practices, paired with reference source documents, to offer a complete picture. The addition of a new post-approval module now makes a comprehensive CMC solution with complete lifecycle information for drugs and biologics to increase submission rates and avoid costly delays. To learn more about Cortellis CMC Intelligence, visit here.
About ClarivateClarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com
Media Contact:Luna IvkovicExternal Communications, Life Sciences & [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/clarivate-enhances-cortellis-cmc-intelligence-with-post-approval-module-to-accelerate-regulatory-success-302133824.html

Artificial Intelligence

Permira to Acquire Majority Position in BioCatch at $1.3bn Valuation

Published

2 hours ago

May 2, 2024

CISION (PR Newswire)

Permira Growth Opportunities Transaction builds on initial minority investment made in early 2023 to acquire a majority position and support BioCatch’s accelerated growth within online fraud detection and financial crime prevention
NEW YORK and TEL AVIV, Israel, May 2, 2024 /PRNewswire/ — BioCatch (the “Company”), the global leader in digital fraud detection and financial crime prevention powered by behavioral biometric intelligence, today announced that Permira Growth Opportunities II (the “Fund”), a fund advised by global private equity firm Permira, has agreed to acquire a majority position in the Company. Alongside the Fund’s investment, existing shareholders Sapphire Ventures and Macquarie Capital will also increase their investments in BioCatch. The transaction is expected to accelerate the Company’s global expansion, advance its innovative product roadmap and support its continued overall growth.

Under the terms of the agreement, the Fund will acquire a majority stake in BioCatch, buying out shares primarily from Bain Capital Tech Opportunities and Maverick Ventures, in a secondary transaction valuing the Company at a total enterprise valuation of $1.3bn.
BioCatch was founded in 2011 – at the dawn of a significant consumer shift from branch to online banking – with a mission to fight fraud and keep users safe in online transactions without disrupting user experience. Today, the Company is a leader in behavioral biometric intelligence and advanced fraud detection, leveraging patented artificial intelligence, data science, and machine learning technology to analyze a user’s cognitive intent and deliver highly accurate insights as to the legitimacy of their identity, motivations, and behavior. In 2023, the Company expanded its mission to include a proactive approach to fighting financial crime with the launch of predictive, behavior-based mule account detection.
As fraud attacks have become increasingly scaled, sophisticated and complex, BioCatch has experienced significant and sustained momentum. Permira, via its growth equity strategy, completed an initial minority investment in the Company in early 2023, a year that BioCatch ultimately finished with 49% ARR growth, whilst also surpassing the $100 million ARR milestone and attaining EBITDA profitability. Today, BioCatch counts more than 190 financial institutions as customers globally, including over 30 of the world’s largest 100 global banks, who use its solutions to fight fraud, facilitate financial crime prevention and decision intelligence sharing, accelerate digital transformation, and grow the value of customer relationships.
Permira brings a growth mindset to BioCatch’s next chapter, with the ability and network to help the Company expand across Continental Europe, where Permira was first established nearly four decades ago. In addition, Permira is excited to back the Company’s exceptional management team and innovative product roadmap, and is committed to further strengthening BioCatch’s global leadership position both organically and inorganically.
“Permira has backed the theme of cybersecurity for several years, and within this, online fraud detection, customer identity and access management markets have become a clear focus. We have tracked BioCatch with enthusiasm for many years, and now having been a shareholder since early 2023, our conviction in the business, its growth potential, its technology leadership, and its management team continues to grow. We’re excited to become the company’s majority shareholder and look forward to a continued successful partnership with Gadi and the BioCatch team as we seek to further accelerate growth and expansion in the years to come,” said Stefan Dziarski, Partner and Co-Head of Permira Growth Opportunities.
Gadi Mazor, CEO of BioCatch, added: “After building a strong partnership with Permira over the last year, we are delighted to welcome them as majority shareholders. The firm’s impressive experience within technology and cybersecurity, combined with their scale, global network, and our close working relationship, has been invaluable since their initial investment. We’re excited to take BioCatch to the next level together. I’d also like to thank Matthew Kinsella from Maverick Ventures and Dewey Awad from Bain Capital for their support over the last four years, which has been key in helping us establish our leadership position in the market.”
“We have had the privilege of partnering with BioCatch over the past four years and worked closely with Gadi and the BioCatch team to develop a long-term strategy to realize the business’s growth potential,” said Dewey Awad, a Partner at Bain Capital. “Together, we drove several key initiatives aimed at augmenting BioCatch’s go-to-market strategy, team, and operations, all with the goal of protecting end-users and their most sensitive transactions. We believe the company is well-positioned to continue its growth journey under Gadi’s leadership and with Permira’s support.”
“At Permira, we are looking to back product-led businesses operating in structurally growing end markets and that have management teams with the ambition to scale and grow their business. We found all of that in BioCatch and were grateful to have the opportunity to make an initial investment in 2023. After a successful first year, we are delighted to take a majority stake in the business as it continues to grow at scale. With the full extent of Permira’s resources and experience at its disposal, we’re excited for what’s to come at BioCatch,” commented Ran Maidan, Senior Adviser and Head of Permira in Israel.
About Permira
Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total committed capital of approximately €80bn and makes long-term majority and minority investments across two core asset classes, private equity and credit.
The Permira funds have an extensive track record in technology investing, having invested in 50+ companies across SaaS, cybersecurity, digital commerce, fintech and online marketplaces. Permira invested in BioCatch via its Growth Opportunities Fund; its strategy is to back disruptive technology and tech-enabled companies as they scale to the next level. The Permira funds have previously supported and helped scale some of the largest and fastest-growing technology businesses globally, including Genesys, TeamViewer, Zendesk, McAfee, Mimecast, Carta, G2, Sysdig, SonarSource, Mirakl, and others. Permira closed its second Growth Opportunities Fund in December 2021 at $4 billion.
The Permira private equity funds have made approximately 300 private equity investments in four key sectors: Technology, Consumer, Healthcare and Services. Permira employs over 500 people in 15 offices across Europe, the United States and Asia. For more information, visit www.permira.com or follow us on LinkedIn.
About BioCatch
BioCatch stands at the forefront of digital fraud detection, pioneering behavioral biometric intelligence grounded in advanced cognitive science and machine learning. BioCatch analyzes thousands of user interactions to support a digital banking environment where identity, trust, and ease coexist. Today, more than 30 of the world’s largest 100 banks and more than 190 total financial institutions rely on BioCatch Connect™ to combat fraud, facilitate digital transformation, and grow customer relationships.
BioCatch’s Client Innovation Board, an industry-led initiative featuring American Express, Barclays, Citi Ventures, HSBC, and National Australia Bank, collaborates to pioneer creative and innovative ways to leverage customer relationships for fraud prevention. With more than a decade of data analysis, 90 registered patents, and unmatched expertise, BioCatch continues to lead innovation to address future challenges. For more information, visit www.biocatch.com.
Media Contacts
For BioCatch
Mac KingSr. Manager, Corporate Communications, [email protected]+1-206-200-8596
For Permira
James [email protected] +44 774 7006407
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