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IBA Reports Full Year 2020 Results

RESILIENT PERFORMANCE ACROSS BUSINESS LINES GOOD ORDER INTAKE AND RECORD BACKLOG POSITIVE REBIT AND BOTTOM LINE STRONG BALANCE SHEET WITH EUR 65 MILLION NET CASH AT YEAR END Louvain-la-Neuve, Belgium, 25 March 2021 - IBA (Ion Beam Applications SA), the world’s leading provider of proton therapy solutions for the treatment of cancer, today announces its consolidated annual results for the 2020 financial year.   Olivier Legrain, Chief Executive Officer of IBA commented: “I am very proud of IBA’s good performance and resilience in what has been a challenging year globally. Our long-term strategy aims to build upon our solid business foundation to create sustainable growth and profitability, delivering the very best offering and services to our customers, whilst being a responsible corporate citizen. Our roadmap to achieve this across all four of our business lines is clear: capitalize on our market leading position globally, invest for strategic impact and deliver operational execution. “A key strategic growth market for us is Asia, particularly China, and we were pleased to sign two significant proton therapy deals in the region in the second half of 2020, as well as a strategic partnership with CGNNT in China. We also delivered strong sales in this region for our Industrial, RadioPharma and Dosimetry businesses. This momentum has continued in 2021, with IBA being selected for the supply of a new Proteus®PLUS solution in China. “Our pipeline continues to be encouraging and overall, order intake across all business units remains buoyant. This, coupled with our growing recurring revenues in Services and Dosimetry, provides us with confidence for the future. I am grateful for the incredible work of the IBA team over the past year, as well as the continued support of our customers. With a healthy balance sheet and the long-term potential for market development across all four of our businesses, we enter 2021 in a confident position.” Financial summary ▪ Total order intake of EUR 112 million for Proton Therapy and Other Accelerators (excluding CGNNT contract) and EUR 54 million for Dosimetry ▪ Total 2020 Group revenues of EUR 312 million, up 10.4%, strongly boosted by the strategic licensing deal with CGN Nuclear Technology Application Co Ltd (CGNNT) ▪ Strong growth in Proton Therapy Services for the third consecutive year, up 7.2% from 2019 ▪ Equipment and Services backlog conversion delayed due to effects of pandemic but remains at all time high of EUR 1.1 billion ▪ Significant increase to full year REBIT, with a profit of EUR 40.4 million (2019: EUR 0.1 million) ▪ Total Group net profit of EUR 31.9 million (2019: EUR 7.6 million) ▪ Very strong balance sheet with EUR 151.3 million gross cash (2019: EUR 46 million) and EUR 65.2 million net cash position (2019: net debt of EUR -21.3 million), with all bank covenants met at year-end ▪ Total direct COVID-19 impact for 2020 estimated to be around EUR 15 million ▪ The Board of Directors will recommend to the annual general assembly the distribution of a total dividend of EUR 0.2 per share, in line with the transition to a new dividend policy Business summary ▪ Proteus®PLUS* licensing deal with Chinese partner CGNNT worth minimum of EUR 100 million announced during the year, with EUR 63.5 million revenues recognized in 2020 ▪ Four-room contract for a Proteus®PLUS Proton Therapy Solution announced in Chengdu, Sichuan Province, China ▪ Contract signed with the National Cancer Center (NCC) Korea for a Proteus®ONE* solution, following a competitive tender process. NCC is already an IBA customer, having previously purchased a three-room Proteus®PLUS solution ▪ Strong order intake for Other Accelerators with 17 systems sold, of which 12 were signed in the second half ▪ Resilient performance of Dosimetry with a strong order intake in the year to date, up 10% from 2019 ▪ Strong cost control measures still in place, partially offsetting COVID-19 related impact, whilst allowing for strategic investments in R&D ▪ Board strengthened with appointment of Ms. Christine Dubus and Dr Richard Hausmann as Non-Executive Directors Post-period highlights ▪ In January, IBA was selected for the supply of a multi-room Proteus®PLUS solution in China, with contract negotiations ongoing ▪ In February, IBA received the third payment related to the CGNNT contract, for EUR 20 million, bringing total cash received to date on this contract to EUR 70 million ▪ In March, IBA received the first down payment on the NCC Korea contract signed in December 2020.
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IBA and NorthStar Medical Radioisotopes Expand Collaboration to Enable Global Availability of Diagnostic Radioisotope Technetium-99m (Tc-99m)

− Technetium-99m is the daughter isotope of molybdenum-99 (Mo-99) − Collaboration enables integrating technology expertise to provide Tc-99m Generation Systems (TCM Generation Systems) that utilize non-uranium based Mo-99 produced using electron beam accelerators − Diagnostic imaging studies using Tc-99m inform healthcare decisions for approximately 30 million patients annually around the world   Louvain-La-Neuve, Belgium, and BELOIT, Wis., USA March 8, 2021 – IBA (Ion Beam Applications S.A., EURONEXT), the world’s leading provider of proton therapy solutions for the treatment of cancer, and  NorthStar Medical Radioisotopes, LLC, a global innovator in the development, production and commercialization of radiopharmaceuticals used for medical imaging and therapeutic applications, today announced a collaboration to increase global availability of technetium-99m (Tc-99m), the most widely used medical radioisotope. The collaboration enables companies outside of the United States to access the Tc-99m Generation Systems (TCM Generation Systems) that utilize NorthStar’s proprietary non-uranium based Mo-99 produced using IBA’s accelerators and beamlines.   The collaboration builds on an existing contract under which IBA is providing NorthStar with up to eight Rhodotron® TT 300-HE electron beam accelerators. They will be used for the production of non-uranium based Mo-99, which enables NorthStar’s FDA-approved and commercially available RadioGenix® System (technetium Tc 99m generator) to produce Tc-99m in the United States. NorthStar’s Accelerator Production facility expansion is nearing completion in Beloit, Wisconsin, with the first pair of IBA accelerators due to arrive from Belgium in early April 2021.  “Every year approximately 30 million patients benefit from diagnostic imaging studies using Tc-99m,” said Stephen Merrick, President and Chief Executive Officer of NorthStar. “NorthStar is delighted to expand its collaboration with IBA, as we view them to be an ideal partner to grow the use of non-uranium based Mo-99 to support a sustainable and innovative future for nuclear medicine. Based on their commercial expertise and tailored approach, we believe IBA complements NorthStar’s global vision of delivering innovative solutions that can address critical patient healthcare needs related to medical diagnosis. We are proud to lead the field of nuclear medicine as the only commercialized producer of Mo-99 in the United States, having provided more than two years of stable U.S. commercial production to date. We look forward to deepening our collaboration with IBA and are confident that this joint approach has the potential to make non-uranium Mo-99 the leading worldwide source of Tc-99m.” Olivier Legrain, Chief Executive Officer of IBA, commented, “We are pleased to enter into this expanded collaboration for TCM Generation Systems with NorthStar Medical Radioisotopes to enable more companies to access this vital healthcare diagnostic tool. IBA’s Rhodotron® accelerators provide the most advanced accelerator technology in the world, and we look forward to working with NorthStar in applying innovative solutions to enable reliable radioisotope supply on a global basis and exploring additional productive opportunities in the future.” NorthStar’s Accelerator Production facility expansion in Beloit, Wisconsin,will ensure sustainable domestic Mo-99 supply for the United States through dual production and processing hubs for additional capacity and scheduling flexibility. Pending appropriate licensure and approval, the facility will augment current Mo-99 processing in Columbia, Missouri, conducted in partnership with the University of Missouri Research Reactor (MURR®).
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IBA SELECTED TO EQUIP WEST CHINA MEDICAL CENTER

West China Medical of Sichuan University located in Chengdu, Sichuan, China has commissioned IBA to install a particle accelerator to produce radioisotopes for cancer diagnosis   Louvain-la-Neuve, Belgium, November 25th 2020 - IBA (Ion Beam Applications S.A., EURONEXT), the world's leading provider of solutions for the diagnosis and treatment of cancer, and West China Medical center, the largest single-site hospital in the world consistently ranked in the top three hospitals in China, announce today that they have signed a contract for the installation of a 18 MeV cyclotron. The Cyclone® KIUBE is a cyclotron used to produce radiopharmaceuticals dedicated to Positron emission tomography (PET), a modern cancer diagnostic method. “PET imaging procedures play a critical role in medical care today and growing demand for radioisotopes in China means a greater need for efficiency.” Said Mr. Chen Li, Sales Director of IBA RadioPharma Solutions China. “The Cyclone KIUBE is more compact and powerful. It was developed with three keywords in mind, Reliability, High Performance and Flexibility.” Bruno Scutnaire, President of IBA's RadioPharma Solutions Business line said: "We are pleased that West China Medical Center has selected our Cyclone® KIUBE. For over 35 years, IBA has installed more than 600 particle accelerators worldwide, proving the excellent reliability of our systems.” The Cyclone® KIUBE is Upgradable like no other cyclotron, West China Medical Center will be able to increase its production capacity step-by-step over time if needed, to reach up to 300 µA on target. The cyclotron will be ready for production of Ga-68, Cu-64 and Cu-61 with the IBA Nirta® liquid target.  
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IBA selected to Equip IRE’s new Radioisotope Production Unit Dedicated to Cancer Diagnosis 

The Institute of Radioelements (IRE) has commissioned the Louvain-la-Neuve-based company IBA to install a particle accelerator for the production of radioisotopes for the diagnosis of numerous cancer types such as neuroendocrine tumors and prostate cancer Louvain-la-Neuve, Belgium, September 15th 2020 - IBA (Ion Beam Applications S.A., EURONEXT), the world's leading provider of solutions for the diagnosis and treatment of cancer, and IRE, the world leader in the production of radioisotopes for diagnostic and therapeutic applications in the field of nuclear medicine, announce today that they have signed a contract for the installation of a cyclotron with an energy of 30 MeV (mega electron volt) on an IRE site. Commissioning is scheduled for 2023. Belgium is internationally recognized for its significant role in the advancement of nuclear medicine. These two Belgian companies, world leaders in their field, are joining forces to install this new cyclotron, the Cyclone® IKON, that will enable IRE to produce Germanium-68 (Ge-68), the raw material for the Germanium-68/ Gallium-68 (Galli Ad® and Galli Eo®) generators, for which demand is growing rapidly. These generators are manufactured on the Fleurus site by its pharmaceutical subsidiary IRE ELiT to serve hospitals around the world. Gallium-68 (Ga-68), the end product extracted from these generators, can provide an accurate and earlier diagnosis of many cancers through the use of PET (positron emission tomography) camera technology. Today Gallium-68 is becoming essential for a personalized approach for the patient via nuclear medicine. The theranostic approach (therapeutic and diagnostic) involves the same molecule being combined with Ga-68 to see, through imaging, the tumors that need to be treated. This is coupled with a "therapeutic companion", Lutetium-177 (Lu-177) which, once injected into the patient, will specifically bind to the cancerous cells to destroy them while preserving healthy tissues. Bruno Scutnaire, President of IBA's RadioPharma Solutions Division said: "We are pleased that IRE has selected our Cyclone® IKON following a call for tenders based on demanding specifications to ensure a continuous supply of isotopes for the diagnosis of numerous cancers. For over 35 years, IBA has installed more than 30 cyclotrons of this type around the world, a majority of them are still in operation, proving the excellent reliability of this system." "This investment will give us the opportunity to control the complete production chain of our Ga-68 radiopharmaceutical generators to better supply our customers, but also to diversify our research activities with the possibility in the future of producing other radioisotopes for innovative applications in nuclear medicine via this cyclotron. This project is in line with the Institute's innovation and diversification strategy." said Erich Kollegger, Director General of the IRE.    
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IBA Synthera +

IBA Synthera +

Synthera®+ remains the most compact module on the market: up to 3 synthesizers can fit into a standard hot cell. Synthera®+ and Synthera®+ HPLC have both been fully redesigned to meet the most demanding production schedule of different radiotracers without opening the hot cell (less intervention, more safety). Synthera®+ can be equipped with the automatic IFP Loader (disposable production cassette dispenser) which can stack up to 4 cassettes. This allows it to perform consecutive runs of different compounds without opening the hot cell, resulting in nearly zero radiation exposure to the operator. This unique feature multiplies the capability of each module by a factor of four.

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IBA is launching a new cyclotron for its 35th anniversary.

Users Meeting 2019 - Krasnoyarsk

Users Meeting 2019 - Krasnoyarsk

IBA organizes biennial users meetings involving all PET customers all around the world. Our experience shows that gathering people together encourages creativity and helps IBA to develop priorities jointly with customers.

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IBA integralab presentation - short version

INTEGRALAB®PLUS is a fully integrated solution, combining equipment and services for establishing a radiopharmaceutical GMP production centre tailored to your precise needs. Our approach is truly comprehensive, taking your project from building design through to ongoing production with full regulatory compliance and the selection, integration, installation and qualification of equipment that meets your radioisotope production goals