Inion Oyj - Company Announcement

Results of Extraordinary General Meeting

Inion Oy
(“Inion or the “Company”)
 
Results of Extraordinary General Meeting:

Ian Paling elected Chairman of Inion's Board of Directors 

Tampere, Finland and Guildford, UK. 14 August 2008, Inion (LSE: IIN.L), a
company focused on the development and commercialisation of novel biodegradable
medical implants, announces that Inion shareholders have approved the election
of Ian Paling as a new member of the Board of Directors at the Company's
Extraordinary General Meeting held in Finland. Mr Paling was also elected as
Inion's new Chairman, replacing Dr. Göran Ando, who has stepped down from the
Board. 

Inion's Board of Directors consists of two executive and five non-executive
directors. 

Ian Paling said: “Inion has undergone many important changes over the past two
years and I believe is in an excellent position to capitalise on the innovative
technology and products it has developed. I am looking forward to working with
the Company's Board and management team and believe that my experiences in
growing Corin and other companies will allow me to make a very positive
contribution to the future growth of this business.” 

Chris Lee, Inion CEO, said: “Ian has an excellent reputation and knowledge of
the sector and I look forward to working with him as we seek to accelerate the
new commercial strategy we have put in place.” 


-ends-

For further information, please contact:

Inion Oy
Ian Paling, Chairman
Chris Lee, Chief Executive Officer
Julien Cotta, Chief Financial Officer
Tel: +44 (0)1483 685390
Citigate Dewe Rogerson
Mark Swallow / David Dible	
Tel: +44 (0)207 638 9571


About Ian Paling

Mr Paling (56) is a highly regarded businessman with more than 30 years' senior
management and Board-level experience. Most recently, he was the CEO of Corin
Group PLC (LSE: CRG), a world leader in the development, manufacture and
distribution of a wide range of reconstructive orthopaedic devices (2002-2007),
and was previously Group Managing Director (1994-2002). During his time at
Corin, Mr Paling was instrumental in the Company's growth from a small private
business into an internationally recognised and successful player in the global
orthopaedics sector with a strong presence in most of the world's most
important markets. 

Prior to this Mr Paling, who has a B.Sc. and M.Sc. in metallurgy, worked for
ten years in senior management roles for several suppliers of orthopaedic
devices to industry. 

Mr Paling was awarded the Ernst & Young Entrepreneur of the Year Award for the
Southern Region for 2006 and was voted LSE Mediscience Chief Executive of the
Year in 2008. 

Mr Paling was appointed as a Non-Executive Director of Metalrax Group PLC (LSE:
MRX) in April 2008 and is also a Non-Executive Director of the private UK
company Sphere Medical Holdings PLC. 

Inion confirms that no further information is disclosable in relation to the
appointment of Ian Paling pursuant to the requirements of UK Listing Rule
9.6.13. 


About Inion (www.inion.com)
Inion Oy is a medical devices company focused on the development and successful
commercialisation of innovative and unique biodegradable and bioactive surgical
implants in selected high value orthopaedic market segments. 

Inion's core expertise and technology lies in the design and manufacture of
innovative biodegradable plates, screws, pins and membranes, which are used to
enhance the healing of bone or soft tissue injuries to the skeleton, such as
those caused by trauma or by reconstructive surgery. Inion implants are made
from its proprietary Inion Optima™ family of biomaterials, with properties
tailored for specific surgical applications, in terms of strength, flexibility
and rate of degradation 
 
Inion is also focused on developing proprietary new bioactive and biodegradable
biomaterials that promote bone healing and accelerate patient rehabilitation. 

Inion was incorporated in early 2000 and listed on the Official List of the UK
Listing Authority in December 2004 (ticker: IIN). The Company has offices in
the UK and USA, and its head office, R&D and production facilities are in
Tampere, Finland. 

This announcement includes "forward-looking statements" which include all
statements other than statements of historical facts, including, without
limitation, those regarding the Group's financial position, business strategy,
plans and objectives of management for future operations (including development
plans and objectives relating to the Group's products), and any statements
preceded by, followed by or that include forward-looking terminology such as
the words "targets", "believes", "estimates", "expects", "aims", "intends",
"will", "can", "may", "anticipates", "would", "should", "could" or similar
expressions or the negative thereof. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors beyond the
Group's control that could cause the actual results, performance or
achievements of the Group to be materially different from future results,
performance or achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous assumptions
regarding the Group's present and future business strategies and the
environment in which the Group will operate in the future. Among the important
factors that could cause the Group's actual results, performance or
achievements to differ materially from those in forward-looking statements
include those relating to Inion's funding requirements, regulatory approvals,
reliance on third parties, intellectual property, key personnel and other
factors. These forward-looking statements speak only as at the date of this
announcement. The Group expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements
contained in this announcement to reflect any change in the Group's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statements are based. As a result of these
factors, prospective investors are cautioned not to rely on any forward-looking
statement.