About Elixirgen Scientific
Elixirgen Scientific is a Baltimore-based biotechnology company focused on stem cell-related technology. It provides highly functionally assay-ready iPSC-derived neurons. The company was founded in 2016 and is based in Baltimore, Maryland. On May 17th, 2022, Ricoh acquired a majority stake in Elixirgen Scientific. The terms of the transaction were not disclosed.
Elixirgen Scientific Patents
Elixirgen Scientific has filed 2 patents.
Transcription factors, Biotechnology, Molecular biology, Stem cells, Cell biology
Transcription factors, Biotechnology, Molecular biology, Stem cells, Cell biology
Latest Elixirgen Scientific News
Nov 4, 2022
Ricoh : Financial Announcement Message : (Results for the Period from April 1, 2022 to September 30, 2022) Performance Outline (Consolidated) (1) Half year ended September 30, 2021 and 2022 (Actual result) and Year ending March 31, 2023 (Forecast) Half year ended 15.9 11.1 16.07 16.06 40.7 (29.8) (73.3) 267.7 902.0 48.7 1,416.08 the parent (yen) *1 The amounts shown as "Cash and cash equivalents at end of the period" are shown on the condensed consolidated statement of cash flows. *2 The amounts presented in capital expenditures and depreciation are for property, plant and equipment. *3 The amounts are shown bonds and borrowings. 1 (Billions of yen) 8.2 6.3 9.34 9.34 Ricoh Company, Ltd. The result forecasts and forward-looking statements included in this document are based on information available to the Company as at the date of submission of this quarterly report and certain assumptions that the Company considers reasonable. The Company makes no guarantees with respect to the achievement of its result forecasts or forward-looking statements. Actual results might be significantly different from the forecasts in the document, depending on various factors. For the assumptions for forecast and other related information, please refer to "3. Qualitative Information on Forecasted Consolidated Financial Results" on page 6. 2 Ricoh Company, Ltd. and its Consolidated Subsidiaries Financial Highlights for the Half Year Ended September 30, 2022 [Prepared on the basis of International Financial Reporting Standards] 1. Results for the Period from April 1, 2022 to September 30, 2022 (1) Operating Results 10.7 － 15,974 － 11,262 － 11,157 － － 16.07 16.06 23.87 Notes: Earnings per share attributable to owners of the parent (basic and diluted) are based on profit (loss) attributable to owners of the parent. (2) Financial Position 902,042 48.7 26.00 3. Forecast of Operating Results from April 1, 2022 to March 31, 2023 (Millions of yen) 19.4 112.2 87,700 97.6 57,800 88.7 57,000 87.7 92.40 4. Others Changes in accounting policies and accounting estimate Changes in accounting policies required by IFRS: No Other changes: No Number of common stock outstanding (including treasury stock): As of September 30, 2022: 637,468,178 shares; As of March 31, 2022: 637,468,178 shares Number of treasury stock: Average number of common stock: Half year ended September 30, 2022: 624,766,306 shares; Half year ended September 30, 2021: 694,487,850 shares Notes: The Company has established the Board Incentive Plan trust in which beneficiaries include Directors and Executive Officers. The shares owned by the trust account relating to this trust are accounted for as treasury shares. (As of September 30, 2022: 382,900 shares; As of March 31, 2022: 398,600 shares) 3 Qualitative Information on Consolidated Financial Results for the Quarter under Review 1. Qualitative Information on Consolidated Business Results * Overview of the Half of Fiscal 2022 (April 1 - September 30, 2022) The Ricoh's goal under the two years of its 20th Mid-Term Management Plan is to become a digital services company that is a work productivity innovator. In this last year of 20th Mid-Term Management Plan, under the business unit structure that we adopted in April 2021, each business unit will operate autonomously and accelerate efforts to reinforce its structure while swiftly tackling market changes. We will cultivate human resources to support our drive to become a digital services company and overhaul enterprise systems to unite our entire organization in transitioning to drive digital services growth. The world economy resumed its economic activities compared to the previous corresponding period, when had been greatly affected by the expansion of COVID-19 infection. On the other hand, prices have been rising and inflation is accelerating due to ongoing shortage of materials and the prolonged Russia/Ukraine situation, and growth slowed as a result of tight monetary policy. During this period, the number of people infected with COVID-19 temporarily reached a record high in Japan. However, the number of people infected subsequently decreased and economic activities resumed. On the other hand, prices have been rising due to higher raw material prices and the depreciation of the yen. In the U.S., prices and wages have been rising amid negative GDP growth, and the monetary authorities have been taking tightening policy to control inflation. In Europe, due to the prolonged Russia/Ukraine situation and the deterioration of relations with Russia, price increases have spread to a wide range of items due to the soaring energy and food prices, and the impact on the economy is becoming apparent. In other regions, in China, the zero-COVID policy against the spread of COVID-19 infections led to lockdown in Shanghai and other cities, caused economic activity to stagnate and economic growth to slow down. During this period, the average exchange rates of Japanese yen against U.S. dollar and Euro were ¥133.92 (up ¥24.13 from the previous corresponding period) and ¥138.70 (up ¥7.84 from the previous corresponding period) respectively. Sales for the half of this fiscal year were ¥973.5 billion. Business growth and sales recovery were modest due to the continued impact of some material shortages and slowdown in production due to lockdown in Shanghai. However, sales increased mainly due to the impact of the depreciation of the yen and the contribution of PFU Limited (hereinafter, PFU), which became a consolidated subsidiary during this fiscal year. As a result, sales increased by 15.4% as compared to the previous corresponding period. In Japan, sales increased only by 4.6% as compared to the previous corresponding period. In the office services business, security-related services for small and medium-sized companies that do not rely on ICT-based products, new services to comply with revisions to the Electronic Record Retention Law, and systems operations for medium-sized companies performed well, also the acquisition of PFU contributed sales increase, but our supply constraints on our products and ICT-based products due to a continuing shortage of parts and materials affected our sales activities in the office services and the office printing businesses. Sales in the Americas increased by 32.1% (an increase of 8.7% excluding foreign currency exchange fluctuations) as compared to the previous corresponding period. Sales of edge devices in the office printing business increased. The office services business performed well including enhancement of new solution services to existing managed service customers, and completed the acquisition of Cenero, LLC. (hereinafter, Cenero) in the communications services field. Sales in the commercial printing business also recovered, particularly non- hardware. Sales in Europe, Middle East, and Africa increased by 17.0% (an increase of 10.4% excluding foreign currency exchange fluctuations) as compared to the previous corresponding period. Sales of edge devices decreased in the office printing business due to a shortage of products, but sales of non-hardware increased. The effects of acquisitions and sales of package led strong performance of the office services business. Sales in other regions increased by 12.0% (a decrease of 1.3% excluding foreign currency exchange fluctuations) as compared to the previous corresponding period. Sales increased mainly due to the depreciation of the yen, although sales declined due to the impact of strict activity restrictions accompanying China's zero-COVID policy. As a result, sales in the overseas market increased by 22.6% as compared to the previous corresponding period. Excluding effects of foreign currency fluctuations, sales in overseas would have increased by 7.8% as compared to the previous corresponding period. Gross profit increased by 13.6% as compared to the previous corresponding period, to ¥346.2 billion. In addition to increasing profit due to increased sales, controlling price by individual business units such as the price pass-through ensured the profit in response to rising commodity prices and rising procurement costs caused by shortages of materials, and gross profit also improved by continuous effort of the structural reinforcement in development and manufacturing activities, as well as the depreciation of the yen. Selling, general and administrative expenses increased by 9.9% as compared to the previous corresponding period, to ¥326.5 billion mainly due to the depreciation of the yen. Other income decreased compared to the previous corresponding period primarily due to gain on the sale of U.S. subsidiary land in the previous corresponding period. Operating profit increased by ¥10.3 billion compared to the previous corresponding period, to ¥23.4 billion. Net financial expenses were greater than in the previous corresponding period, reflecting higher interest expense and foreign exchange losses. The share of profit of investments accounted for using the equity method was higher, reflecting better performances among equity-method affiliates. Profit before income tax expenses increased by ¥8.6 billion as compared to the previous corresponding period, to ¥24.6 billion. Income tax expenses increased by ¥4.5 billion as compared to the previous corresponding period mainly due to an increase in profit before income tax expenses. As a result, profit attributable to owners of the parent increased by ¥3.7 billion as compared to the previous corresponding period, to ¥14.9 billion. Comprehensive income increased to ¥73.7 billion, owing largely to an increase in profit attributable to owners of the parent and translation adjustments for foreign operations. 4 Digital Services Digital Services sales were ¥768.2 billion and increased by 11.6% (an increase of 3.5% excluding foreign currency exchange fluctuations) as compared to the previous corresponding period. In the office services business, sales of ICT-based products and related services in Japan were impacted by a shortage of parts and materials. However, we introduced full-scale solutions that do not depend on ICT-based products, such as new services to comply with revisions to the Electronic Record Retention Law and invoicing system, and strengthened our ability to propose products through training. As a result, sales of Scrum series increased by 15% compared to the previous corresponding period, especially Scram Asset grew by 69% compared to the previous corresponding period thanks to the good performances of the operation management after system installation, virtualization consolidation, and security-related services. In the Americas, sales of security-related services continue to be robust, and we have completed the acquisition of Cenero, which provides communications services, in an effort to strengthen our ability to propose the office services businesses. In Europe, mainly sales of package and increased sales of acquired IT service companies continued to contribute to higher sales. In the office printing business, recovery of edge devices sales slowed due to shortages of A4 MFPs that caused delays in deliveries at the time of bulk sales. However, sales of non-hardware continued to recover moderately in line with the return to offices in various regions. In response to rising costs mainly due to ocean freight, we secured profits by implementing pricing controls, such as the price pass-through and selling value-added products. At the same time, we implemented profit improvement measures such as structural reform of service activity. As a result, Digital Services operating profit was ¥9.8 billion and increased by ¥5.0 billion as compared to the previous corresponding period. Digital Products Digital Products sales were ¥8.5 billion and increased by 20.1% (an increase of 3.7% excluding foreign currency exchange fluctuations) as compared to the previous corresponding period. Sales including intersegment sales were ¥212.4 billion and increased by 18.9%. Although production activities were affected by a shortage of materials and lockdown in Shanghai, sales increased due to increased production of A3 MFPs and parts & supplies compared to the previous corresponding period by flexible production measures. While procurement costs rose due to the sharp rise in material prices, production of relatively high value-added products was increased and flexible production measures were made including cost reduction activities through structural reforms of manufacturing. As a result, Digital Products operating profit was ¥22.0 billion and increased by ¥4.8 billion as compared to the previous corresponding period. Graphic Communications Graphic Communications sales were ¥108.8 billion and increased by 25.1% (an increase of 10.7% excluding foreign currency exchange fluctuations) as compared to the previous corresponding period. In the commercial printing business, sales increased as economic activities recovered in Europe and Americas. Despite the impact of material shortages, sales of production printers increased as we worked to secure production volumes, including procuring alternative components from the market. Sales of non-hardware continued to recover, and it recovered to the level before the spread of COVID-19 infection. In the industrial printing business, sales increased due to strong sales of components such as inkjet heads and textile printers, despite the impact of lockdown in the mainstay Chinese market. In the commercial printing business, although costs rose and profits were squeezed by procuring alternative components from the market to secure production volumes, improvements in development, production, and service activities and the depreciation of the yen contributed to generate profit. As a result, Graphic Communications operating profit was ¥3.8 billion and increased by ¥3.5 billion as compared to the previous corresponding period. Industrial Solutions Industrial Solutions sales were ¥62.4 billion and increased by 23.1% (an increase of 13.9% excluding foreign currency exchange fluctuations) as compared to the previous corresponding period. In the thermal media business, we implemented flexible pricing controls, including price pass-through, in response to cost increases for raw materials, transportation costs, etc. In addition, increased sales of release paper-free labels and expanded demand in the U.S. logistics industry led to higher sales. In the industrial products business, the impact of production reduction by automobile-related customers continued due to lockdown in China. In the electronics business, demand for industrial robots was strong, and sales remained steady, despite a continuing shortage of materials. Costs have risen due to the impact of rising material, energy and transportation costs. However, these costs have been absorbed by pricing controls and other factors. As a result, Industrial Solutions operating profit (loss) was ¥0.3 billion (loss), improved by ¥0.3 billion as compared to the previous corresponding period. Other Other segment sales were ¥25.4 billion and increased by 150.9% (an increase of 144.0% excluding foreign currency exchange fluctuations) as compared to the previous corresponding period mainly due to contribution of increased sales from the acquisition of PFU that has the largest market share globally for document scanners and is a company that develops cloud services and managed security services in Japan. We also have steadily advanced our cloud services for RICOH360 and Social Infrastructure's inspection services to expand our business. In addition, we are promoting the creation of new businesses, including additional investments in Elixirgen Scientific Inc. to strengthen of our drug discovery support business. As a result of up-front investments to create new businesses, including these activities, Other segment operating profit (loss) was ¥4.0 billion (loss), improved by ¥3.4 billion from the previous corresponding period partly due to the contribution from the acquisition of PFU. Digital services as a business segment is mainly limited to the office services business and the office printing sales business. This segment does not include all digital services, which Ricoh aims to transform into "a digital services company" that connects workplaces and support worker's creativity. "Digital Services" provided as "a digital services company" is included in all the business segments as well as Digital Services business segment. 2. Analysis of Consolidated Financial Position *Assets, Liabilities and Equity Total assets increased by ¥206.8 billion as compared to the end of the previous fiscal year, to ¥2,060.0 billion. The acquisition of PFU and other companies and the significant yen depreciation from the end of the previous fiscal year, which resulted in exchange difference of foreign assets, led a significant increase in assets. After excluding the foreign exchange impact, total assets increased by ¥107.3 billion. The exchange rates for major currencies for the yen at end of the half of this fiscal year were ¥144.81 against the U.S. dollar (up ¥22.42 from the previous fiscal year) and ¥142.32 against the euro (up ¥5.62). "Inventories" increased by ¥79.9 billion from the end of the previous fiscal year, mainly due to increases in sales inventories, securement of safe inventories, acquisitions and the depreciation of the yen. In addition, "Goodwill and intangible assets" increased by ¥70.5 billion mainly due to the acquisition of PFU and Cenero, as well as the depreciation of the yen. 5 This is an excerpt of the original content. To continue reading it, access the original document here . 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Elixirgen Scientific Frequently Asked Questions (FAQ)
When was Elixirgen Scientific founded?
Elixirgen Scientific was founded in 2016.
Where is Elixirgen Scientific's headquarters?
Elixirgen Scientific's headquarters is located at 855 N Wolfe St, Baltimore.
What is Elixirgen Scientific's latest funding round?
Elixirgen Scientific's latest funding round is Corporate Majority.
Who are the investors of Elixirgen Scientific?
Investors of Elixirgen Scientific include Ricoh and Ricoh Innovations.