Vivoryon Therapeutics N : Interim Financial Statements June 30, 2021

VIVORYON THERAPEUTICS N.V.

INTERIM REPORT AS OF AND FOR THE SIX-MONTH PERIOD ENDED

JUNE 30, 2021

These condensed interim financial statements are interim financial statements for Vivoryon Therapeutics N.V.

The financial statements are presented in Euro (€).

Vivoryon Therapeutics N.V. is a company limited by shares, incorporated and domiciled in Amsterdam,

The Netherlands.

Its registered office and principal place of business is in Germany, Halle, Weinbergweg 22.

INDEX TO CONDENSED FINANCIAL STATEMENTS
SIX MONTHS ENDED JUNE 30, 2021
Condensed Interim Financial Statements
Condensed Statements of Profit or Loss and Other Comprehensive Income ................................................................	3
Condensed Statements of Financial Position .................................................................................................................	4
Statements of Changes in Shareholders' Equity for the six months ended June 30, 2021 and 2020 ............................	5
Condensed Statements of Cash Flows ...........................................................................................................................	6
Notes to the Interim Report as of and for the six-month period ended June 30, 2021 ..................................................	7
1.	Reporting entity ...............................................................................................................................................	7
2.	Basis of accounting..........................................................................................................................................	7
3.	Going Concern .................................................................................................................................................	8
4.	Change in accounting policy ...........................................................................................................................	8
5.	Critical judgments and accounting estimates ..................................................................................................	8
6.	Finance Result .................................................................................................................................................	9
7.	Financial assets and financial liabilities ..........................................................................................................	9
8.	Other non-financial assets..............................................................................................................................	10
9.	Cash and cash equivalents .............................................................................................................................	10
10.	Equity........................................................................................................................................................	10
11.	Share-based payments...............................................................................................................................	11
	Equity settled share-based payment arrangements ...................................................................................	11
	Share options exercised ............................................................................................................................	11
	Share-based payment expense recognized................................................................................................	11
12.	Post-employment benefits.........................................................................................................................	12
13.	Leases........................................................................................................................................................	13
14.	Contractual Obligations and Commitments..............................................................................................	13
15.	Related party relationships........................................................................................................................	13
16.	Significant events of the half year and changes in circumstances ............................................................	14
17.	Significant events after the reporting date ................................................................................................	14

Vivoryon Therapeutics N.V.

Condensed Statements of Profit or Loss and Other Comprehensive Income

					For the six months
					ended June 30,
	(in € thousand, except for share data)	Note	2021		2020
	Operating Expenses
	Research and development expenses		9,456		6,380
	General and administrative expenses				2,337				1,138
	Total Operating Expenses		11,793		7,518
	Other income				(5)				(38)
	Operating loss		11,788		7,480
	Finance income		6.		(219)				-
	Finance expenses	6.	102		92
	Finance result		6.		(117)				92
	Loss for the Period		11,671		7,572
	Share Information
	Weighted average number of shares outstanding				19,975,482				19,975,482
	Loss per share (basic/diluted)		(0.58)		(0.38)
	Loss for the Period		11,671		7,572
	Items not to be reclassified subsequently to profit or loss:
	Remeasurement of the net defined benefit pension liability	12.		-	20
	Total Comprehensive Loss				11,671				7,592

The accompanying notes are an integral part of these condensed interim financial statements.

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Vivoryon Therapeutics N.V.

Condensed Statements of Financial Position

			June 30,		December 31,
(in € thousand)	Note	2021	2020
ASSETS
Non-current assets
Property, plant and equipment*			343		390
Intangible assets		553	565
Financial assets	7.		14		3
Total non-current assets		910	958

Current assets
Other assets	8.
Financial assets	7.
Cash and cash equivalents	9.

1,6312,466

66721

19,83226,306

Total current assets	22,130		28,793
TOTAL ASSETS	23,041	29,751

EQUITY AND LIABILITIES
Equity
Share capital	10.
Share premium
Other capital reserves
Accumulated other comprehensive loss
Accumulated deficit
Total equity
Non-current liabilities
Post-employment benefits	12.
Provisions long-term
Lease liabilities long-term
Trade payables	7.
Total non-current liabilities
Current liabilities
Provisions
Trade payables	7.
Lease liabilities
Other liabilities

19,97519,975

82,14382,143

5,3244,404

1. (655)
   (91,316) (79,646)
   15,471 26,221

	1,940		1,981
12		-
	179		224
168		-
	2,299		2,205
	35		47
4,988	911
	91		90
157	276

Total current liabilities	5,271		1,325
Total Liabilities	7,570	3,530
TOTAL EQUITY AND LIABILITIES	23,041		29,751

* Property, plant and equipment includes right-of-use assets of EUR 264 thousand.

The accompanying notes are an integral part of these condensed interim financial statements.

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Vivoryon Therapeutics N.V.

Statements of Changes in Shareholders' Equity for the six months ended June 30, 2021 and 2020

																				Accumu-
																				lated other
															Other					compre-
						Shares						Share			capital			Accumulated		hensive
	(in € thousand, except for share data)	Note			outstanding			Share capital		premium			reserves			deficit		loss		Total equity
	Balance as of January 1, 2021					19.975.482			19.975			82.143			4.404			(79.646)		(655)			26.221
	Loss for the period				-			-		-			-	(11,671)		-	(11,671)
	Remeasurement of the net defined
	benefit pension liability		12.			-			-			-			-			-		-			-
	Total comprehensive loss				-			-		-			-	(11,671)		-	(11,671)
	Contributions
	Equity-settledshare-based payments	11.c			-			-			-		920			-		-		920
	Total Contributions					-			-			-			920			-		-			920
	Balance as of June 30, 2021		19,975,482	19,975		82,143	5,325	(91,317)	(655)		15,471
	Balance as of January 1, 2020			19,975,482		19,975		82,143		4,245		(63,136)		(562)			42,665
	Loss for the period					-			-			-			-		(7,572)		-			(7,572)
	Remeasurement of the net defined				-			-			-			-			-		(20)			(20)
	benefit pension liability
	Total comprehensive loss					-			-			-			-		(7,572)		20			(7,592)
	Contributions
	Equity-settledshare-based payments		11.c			-			-			-			3			-		-			3
	Total Contributions				-			-		-	3			-		-	3
	Balance as of June 30, 2020					19.975.482			19,975			82,143			4,248			(70,708)		(582)			35,076

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