Business
Ondine Biomedical Continues Growth in H1 2025
Ondine Biomedical reported an 18% increase in revenue to $1.01 million for the first half of 2025, compared to $0.86 million in the same period of 2024. Gross margin also improved to 65%, a 300 basis point increase from 62% in H1 2024. The company's loss from operations increased to $12.5 million, up from $7.8 million in H1 2024, due to costs associated with the U.S. clinical trial. Cash and cash equivalents stood at $5.6 million as of June 30, 2025, compared to $9.9 million at the end of 2024. Ondine secured approximately $5 million of capital in January 2025 and a further approximately $19 million net proceeds from a fundraising post-period. The adoption of Steriwave increased by 41% to 41 hospitals. Disclaimer*
About this update from Ondine Biomedical, Inc.
[{"type":"text","content":"\n\nONDINE BIOMEDICAL INC.\n(\"Ondine Biomedical\", \"Ondine\" or the \"Company\")\nOndine Biomedical Continues Growth in H1 2025\n \nUnaudited results for the six months to 30 June 2025\n \nOndine Biomedical Inc. (AIM: OBI), a leader in light-activated antimicrobial therapies to prevent and treat hospital infections, is pleased to announce continued commercial expansion and clinical progress in the first half of 2025 (\"H1 2025\"). The Company invested significant time and resources into strategic initiatives designed to drive long-term growth and value, including advancing key clinical programmes, strengthening commercial channels, and upgrading its product platform.\n \nFinancial figures throughout this interim report are in Canadian dollars unless otherwise specified.\n \nOperational Highlights\n· Commercial growth: Adoption of the Company's novel light-activated antimicrobial, Steriwave®, increased by 41% to 41 hospitals by the end of H1 2025 (H1 2024: 29 Hospitals), including many of Canada's largest hospitals and several NHS sites. Customer retention remained at 100%. Migration to the second-generation, high-margin Steriwave Illuminator and Light Source was completed across Canada, supporting further margin expansion. Distributor channels were also strengthened, with partners such as Mölnlycke Health Care and Kabla (Mexico) engaged in onboarding, training, and market development activities to build momentum for future sales.\n· Growing Global Recognition: UK's First NHS hospital deployment received global recognition for its 70% reduction in knee/hip arthroplasty surgery infection reduction against another topical nasal antimicrobial agent. On June 12, 2025, Mid Yorkshire Teaching NHS Trust was the recipient of the International Photodynamic Association 2025 President's Award at the 18th IPA World Congress in Shanghai China and was a Finalist in the prestigious HSJ Patient Safety Innovation Award.\n· Clinical trial progress: Patient enrollment began at a single site at the end of 2024 and expanded to 16 HCA Healthcare hospitals by the end of H1 2025. This large, multi-center Phase 3 trial will dominate 2025 expenditures and is designed to support FDA submission for Steriwave and represents a major milestone in bringing the Company's light-act...