VEXIM : 2014 sales increase sharply by 69% to €10.3 million

Toulouse, January 26, 2015 - VEXIM (FR0011072602 - ALVXM, PEA-PME eligible), a medical device company specializing in the minimally-invasive treatment of vertebral fractures, today reported 2014 full-year consolidated sales and cash position as of December 31, 2014.1

Solid cash position of €10 million

Strong growth in 2014
In 2014, VEXIM's sales exceeded €10 million and now account for approximately 7% of the European vertebral fracture market, driven by the continued rapid market penetration of SpineJack®. The 68.5% growth achieved in 2014 was primarily the result of VEXIM's robust commercialization efforts in rolling out SpineJack® across all geographic regions through both the Company's direct sales network in Europe (82% of sales), as well as the specialized distributors VEXIM utilizes in other countries of the world (18% of sales). Over 8,000 SpineJack® implants were sold in 2014 (+76% from 2013), bringing the total number of implants to more than 17,000 since the product was initally launched in late 2010.

Growth momentum expected to accelerate in 2015
In 2015, VEXIM will continue executing on its strategy for establishing SpineJack® as the international benchmark in the treatment of vertebral compression fractures. With more than 250 active customers and new prospects, the Company's growth outlook is significant:

• In Europe, where a direct sales approach has been adopted, growth is expected to remain at a sustained pace over the coming years, with VEXIM capturing further substantial market share gains.
• In the International region, meaningful sales growth will continue to be achieved through the expansion of our distribution network, with a particular focus on high potential regions, like Latin America and Asia.
• In the United States, the recent launch of marketing activities, strengthened with two new products planned for 2015, should also steadily contribute to the Company's sales growth.

Solid cash position
After raising €5 million through a private placement in late 2014, VEXIM ended the year with a robust cash position of €10 million to be used to continue pursuing the Company's commercial and clinical development objectives.

Vincent Gardès, VEXIM's CEO, commented: "2014 was highlighted by strong commercial performance and our continued penetration of the global vertebral fracture market. This success is the result of our investments in innovation and the commercial strategy VEXIM has pursued since its initial public offering nearly three years ago. An acceleration in this growth momentum is expected in 2015 as we gradually ramp up our activities in the United States. All of this, combined with a reinforced financial structure, continues to support VEXIM's confidence in our ability to achieve our overall objective of becoming the global market leader in the vertabral fracture segment."

Next press release:
FY 2014 results: March 24, 2015*
*Indicative date, subject to potential modifications Publication before the opening of trading.

[1] Non audited data.

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