Many thanks , that is good news.BTW Pierre is away but I think when he gets back that we will make the final decision to invest in your fund or not .It is looking positive right now.

All the best

Nathaniel

 

PS Have you discussed the fund with Bob ?

 

In a message dated 1/29/2012 9:33:37 P.M. Eastern Daylight Time, jdeloche@rosemontseneca.com writes:

Hi Nathaniel,

It was great to catch up a few weeks ago. Attached is an updated version of our slide presentation for your review. 

As discussed during our meeting, since closing the investment in Counsyl RSTP's business development team has been working closely with the company to help them expand their business in key geographies.  Counsyl had a great 2011 and strong momentum in Q4. Some highlights include:

2011 Highlights

• 22,400 people screened
• 1,270 clinics and hospitals have ordered the UGT as of 12/31/2011
• 15% increase in requisition value YoY ($435 to $500)
• Introduction of Fragile X screening
• Requisition revenue of $11.2 million, 533% growth YoY
• Annual gross margin of 65.5%
• Invoiced revenue grew 800% from $200k in January to $1.6 million in December
• Invoiced revenue run rate of $20 million as of December

Q4 Highlights:

• Gross margins were 70.5% in Q4, increasing from 34% in Q1
• 10,492 people screened in Q4, representing requisition growth of 65% QoQ
• Requisition revenue of $5.6 million, an increase of 81% QoQ
• Raised $28 million Series B round and completed $5 million venture debt financing
• Cash flow positive in Q4 
• Signed 6 year lease on 27,000 square foot facility in South San Francisco
• Increased sales team to 34 people

Counsyl expects strong growth and continued profitability in 2012. The Company expects its new lab to be fully operational by April, 2012 and to be state of the art in terms of automation which will have a positive impact on gross margins. The company is hiring aggressively for key sales, marketing and lab positions.

Please feel free to call me with any questions. 

My best,

John

John DeLoche

Managing Director

Rosemont Seneca Technology Partners

One Market, Spear Tower, 36th Floor

San Francisco, CA 94105

office: 415 293 8147

mobile: 415 793 7070 

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