“We anticipate more than double-digit growth in both sales and EBITDA.”

During 2020 Pangea Oncology had to face the adversities derived from the Covid and this was reflected in the results of the exercise. How has the company evolved in this semester?

From Pangea Oncology we are seeing a very favorable evolution in 2021, that we honestly thought that where we were going to see the main recovery would be in the second half more than in the first, but we are already seeing that in the first we are practically even at levels much higher activity, both last year and the previous year.

It is also true that in 2020, even with the impact of Covid, we grew by 24% in sales organically and that we were able to maintain EBITDA levels in absolute value and that we also had a reduction of approximately 70% in net loss Therefore, 2020 was a good year for us, but it is also true that it was supported by the diagnosis in Covid, which is a diagnosis with less margin, during the hard times of the pandemic we had to unfold the medical teams and laboratory, among other things, so that there were no infections and even so we had a substantial organic growth.

In 2021 we are seeing a very favorable year both in the evolution of the clinical part and in the evolution of the hiring of pharmaceutical companies where we are having more and more international exposure of small companies, we are already working for three companies that are listed on Nasdaq. We have good expectations for the exercise.

What are your forecasts for the rest of the year?

Based on the fact that we do not give specific estimates in any year, what we can already anticipate, from an organic perspective, is growth of more than double digits in both sales and EBITDA and a very good evolution of the indicators in general. . All the indicators, so far this year, are growing at double digits, unlike last year when there was a different mix where, for example, oncological visits did grow, but that activity derived mainly from surgery due to the pandemic was the most impacted. In 2021 we are seeing growth in all lines.

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What are the main objectives of the Strategic Plan?

We have several fundamental pillars, on the one hand, we want to grow the healthcare part, which is the part of the Dr. Rosell Oncology Institute, the part of medical oncology. As a global company, we want to be seen as a company that is the boutique of precision oncology, both in the area of ​​how we treat patients and in the area of ​​providing services to large pharmaceutical companies.

Therefore, the fundamental pillars of growth will continue to be the continuous expansion of the number of visits and patients we make, with a very specific weight in everything that has to do with the strength of the clinical trials unit and, on the other hand , expand the number of pharmaceutical clients and also our own penetration within each of the clients.

From there there are three additional fundamental pillars, what we want to do is unite and combine medical excellence, and last year we took part in the new project of the oncologist Javier Cortés – a worldwide eminence in breast cancer- and what We want to continue strengthening the Pangea Oncology team with additional professionals, but always of very high standing.

Finally, we are moving towards a world in which the concept of big data is going to be a very important topic and in which we are going to put a very strong specific weight in the coming years.

Despite the fact that Pangea’s growth is mainly organic, will we be able to see any acquisitions in the short to medium term?

A capital exercise that we have done with different investors is not only based on strengthening the company’s balance sheet, but also having an instrument that allows us not only to grow organically but also to make some selective acquisitions, which we are currently looking at and which we hope to be able to announce. in the medium term.

These are operations that we are always analyzing from the perspective of medical excellence and that they are relative operations from the financial point of view, but we are also considering some operations that have to do with the incorporation of new technologies in precision oncology that we think will to be able to complement in a very significant way both the technology portfolio that we offer to our patients, as well as the technology portfolio that we also offer to our pharma clients.

After the movements in its shareholders, the convertible of Grupo Pikolín for 6 million euros and the entry of new directors, what have been the objectives of Pangea?

It has been a very important operation for Pangea. For months now we wanted to carry out an operation that would meet three objectives: on the one hand, to think that the Soláns family has always bet heavily on us, from the beginning, because they were part of the creation of our company, it had a relative specific weight very high compared to other shareholders when normally in Spain a family office with relatively strong positions in companies usually have between 15-20%.

On the other hand, we wanted to expand our board of directors and our shareholder base with a family office that had the same orientation, the same social vocation, science, contribution to society, a family office that all came from the world of family business and They also had a very important vocation from the point of view of what health means, beyond the importance of the investment, that they were families that in some way could complement our board of directors and give us power, in such a way that, We not only depended on families like Soláns or Mayoral, but we also supplemented it with the Villagrá de Vidaro family, the Pascual de Serpis and López de Orensanas family for investments.

Therefore, we have combined an operation in which there has been a series of shareholding crossings that initially seemed that the Soláns family lowered its shareholding position, but that just later, through these crossings, allowed the entry of a very important box for us, 6 million euros, through a short-term convertible credit, specifically convertible at the same price at which we have made the average crosses for these families that have increased participation and this gives us an ideal instrument to be able to make this inorganic growth and to strengthen the company.

On the other hand, we have also supplemented our board of directors with two fundamental independent directors such as Ramón Raventós, with a spectacular trajectory at the business level and, of course, Miguel Ángel Bonachera, who we know well from being involved in AB-Biotics. With this, we believe that we have changed and expanded a very important stable core that has allowed the company to cash in and that it was exactly the instrument we were looking for to meet the inorganic growth objectives that we have.

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