Igea discloses its 2021 Annual Report

Hoofddorp, the Netherlands, 20 October 2022. IGEA Pharma N.V. (SIX: IGPH) today announced the disclosure of its 2021 Annual Report.


The Group generated marginal revenues of Keur 103,3 for the year ended 31 December 2021 (previous year: Keur 123,7) due to the ongoing efforts to establish market acceptance and position for the health prevention solutions offered. Cost of sales were Keur 126,2 (2020: Keur 163,9).

Operating expenses were Keur 1.301,9 (2020: Keur 670,0). The significant increase is mainly due to the impairment charges recognized in 2021 on intangible assets (Keur 325,5) and associates (Keur 88,0), related to the full impairment of the rights owned by the Group to ensure protection of the e-commerce distribution of ‘Alz1’ in the US, and to the impairment charge recorded against the value of the investment in the associate ATI Biotech (in 2020, the impairment charges were limited to Keur 102,8). Other income recorded in 2021, net of other expenses, was related to certain non-core operations and amounted to Keur 179,9 (2020: Keur 139,0). The EBITDA as adjusted (before any impairment charge, and including the share of net result of associates and joint ventures) for the reporting year amounts to Keur -863,8 (2020: Keur -788,8).

The finance result was positive by Keur 18,4 (compared to a negative impact of Keur 107,4 in 2020), due to the limited impact of interests on financial debts and negative exchange rate variances: – Keur -6,5 (2020: Keur -54,1) and Keur -13,3 (2020: TUSD -53,3) respectively. The net loss for the year 2021 is Keur 1.258,9 (2020: Keur 998,9), representing a basic and diluted loss per share of Eur 0,0040 (2020: basic and diluted loss per share of Eur 0,0032). Balance sheet and cash flow As of 31 December 2021, the Group held total assets of Keur 11.388,3 (2020: 2.513,0), of which Keur 10.261,2 in non-current assets (2020: Keur 1.007,8) and Keur 1.127,1 in current assets (2020: 1.505,1).The remarkable increase is directly linked to the provisional goodwill emerging from the reverse acquisition of IGEA and BSNR (Keur 8.917,5).

Liabilities were Keur 2.804,8 (2020: Keur 2.047,4) and the total shareholder’s equity was Keur 9.578,7 (2020: Keur 465,5), benefiting from a significant increase as a result of the reverse acquisition accounting. The cash used during 2021 (net of any exchange difference effects) was Keur 148,9 (2020: Keur 52,3), of which Keur 794,0 (2020: Keur 1.295,9) used for operations and investing activities, partially compensated by a net cash inflow of Keur 645,1 from financing activities (2020: Keur 1.243,6). Cash and cash equivalents at year’s end is Keur 17,6 (2020: Keur 88,6).

The Group ensured additional cash and cash equivalents beginning of 2022 necessary to finance its level of activities for at least twelve months.

The 2021 Annual Report can be downloaded at the Igea Pharna NV website with the following link https://www.4healthy.nl/category/financial-reports/

About IGEA

IGEA Pharma N.V. focuses through its Joint Venture on industrial CO2 supercritical extraction of CBD and other valuable components from their vegetable matrices for health prevention, pharma, food&beverage and other selected industries, with an innovative early-stage commercial and highly diversifiable pipeline. The company aims to become a center of excellence on highly controlled vegetable matrices and their industrial extraction technology. On the other hand, Igea operates on preventative health-tech products and devices, commercializing an Alzheimer’s prevention set (which includes ’Alz1’, an at-home lab test kit to measure non-bound copper in the blood and a natural dietary supplement branded ‘Alz1 Tab’ designed to reduce blood heavy metals content) and expects to integrate the non-bound copper detection-based pipeline with a diabetes type II prevention set in the next future. IGEA furthermore commercializes a COVID19 rapid test for the detection of IgM and IgG SARSCoV-2 related antibodies.

IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands. Find out more at www.4healthy.nl


Vincenzo Moccia, CEO, +393405830933, moccia@igearesearch.com


This document constitutes neither an offer to buy nor to subscribe securities and either this document nor any part of it should form the basis of any investment decision in IGEA. The information contained in this press release has been carefully prepared. However, IGEA bears and assumes no liability of whatever kind for the correctness and completeness of the information provided herein. IGEA does not assume an obligation of whatever kind to update or correct information contained in this press release whether as a result of new information, future events or for other reasons. This publication may contain specific forward-looking statements and assessments or intentions concerning IGEA and its business. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development, or performance of IGEA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. IGEA assumes no responsibility to update forward looking statements or to adapt them to future events or developments, except as maybe required by law.