ESPERITE N.V. announces important recurrent financial improvements from Laboratory transfer and cost reduction program Galaxy

June 15, 2016 Group News

ESPERITE N.V. announces important recurrent financial improvements from Laboratory transfer and cost reduction program Galaxy

1.2 Millions euro saving per year starting June 2016

Zutphen, The Netherlands – 15 June 2016

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An important cost saving and reorganisation program called Galaxy was announced by Esperite’s CEO, Frederic Amar in 2014. The Galaxy project aims to centralize and optimize CryoSave’s laboratory for Stem Cell processing in Switzerland. Main targets are to improve the efficiency, to reduce the transportation costs and to avoid the double costs of having two fully operational facilities in place.

Since January 2016, Stem Cells from Cord Blood samples are sent directly to Geneva – Switzerland for processing and cryopreservation. The central processing organization, the laboratory facilities of CryoSave and the Genoma’s clinical genetic laboratory are located in the same building.

Previously, due to the specific Tissue Bank licence and local regulatory requirements samples were passing through the Laboratory in The Netherlands and then sent to the Laboratory facility in Belgium. This resulted in unnecessary high transportation costs and longer transports time. Negotiations with two major international suppliers for logistic resulted in improved conditions, shorter transit time and lower costs. Decreased time between sample collection and processing supports the quality of service and decreases the risk of processing failures.

An advantage of being located in Switzerland is the stable regulatory and technological environment. CryoSave fulfils all regulatory requirements in Switzerland and also obtained the necessary Swiss licenses. The import and export of samples to and from European and non-European countries are well organized and according to all the rules and regulations. A new traceability system has been implemented in line with current and future requirements for the different accreditations.

The cost for closing down the laboratory facilities in The Netherlands and Belgium have been minimized due to a smooth anticipated and properly scheduled transition of incoming samples to Geneva and consequently a smooth leave of employees during the year 2015. Employees have worked during their notice period, so almost no termination fees had to be paid.

The move to Switzerland did not lead to an increase in the employee benefit expenses, because higher salary costs were offset by lower social security charges in Switzerland. Due to better optimisation of the laboratory processes and higher automatization, head count is also lower by 25% for the same volume processed.

The investment in our Swiss laboratory facilities could be kept limited as most of the equipment and laboratory infrastructure was part of the Salveo acquisition in 2014. Thanks to that transaction in 2014 Cryo-Save obtained a very efficient Swiss organization and only needed some investments to complete it. These costs were all accounted for in 2015.

Management assesses the recurring cost saving for having one laboratory for processing of the samples and efficiency of the processes to 1.2 million euro at a yearly basis. During the first half year 2016 Esperite already enjoyed part of the cost saving program benefits but full benefits will be taken into account from July 2016 onwards.

To learn more about the ESPERITE Group, or to book an interview with CEO Mr. Frédéric Amar: +31 575 548 998 - or visit the website at

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