Inion Oyj - Company Announcement

Inion strengthens international patent position for Inion OptimaPLUS™ bioactive materials technology

Inion strengthens international patent position for Inion OptimaPLUS™ bioactive 
                              materials technology 

Tampere, Finland and Guildford, UK. 8 January 2008…Inion Oy (LSE: IIN.L)        
(“Inion”), a company focused on the development of novel biodegradable medical  
implants, has been granted a patent in Australia covering a method for creating 
its Inion OptimaPLUS™ bioactive and biodegradable material. Inion OptimaPLUS™ is
a material consisting of a specific solid matrix of resorbable polymer in which 
N-methyl-2-pyrrolidone (NMP) is dispersed in amounts sufficient to stimulate    
bone growth. This material can be fashioned into medical implants to support and
enhance bone fracture healing.                                                  

The Australian patent (AU 2002346767) also covers other polymer compositions    
containing NMP and strengthens Inion's international patent position in this    
area of next-generation bioactive biomaterials.  The equivalent patent is       
already issued in the USA (US 6 926 906) and additional patent applications for 
this novel technology are in progress in Europe, Brazil, Canada, China, Korea   
and Japan.                                                                      

Mr Chris Lee, Inion's Chief Executive Officer, commented: “This new patent is an
important enhancement of our IP portfolio in the development of novel           
biomaterials with bioactive qualities for creating next-generation medical      
implants.”                                                                      

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For further information, please contact:                                        
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| Inion Oy                                   | Tel: +44 (0)1483 685390         |
| Chris Lee, Chief Executive                 |                                 |
| Officer                                    |                                 |
| Julien Cotta, Chief Financial Officer      |                                 |
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| Citigate Dewe Rogerson                     | Tel: +44 (0)207 638 9571        |
| Mark Swallow /                             |                                 |
| David Dible                                |                                 |
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About Inion (www.inion.com)                                                     
Inion Oy is a medical devices company focused on the development and successful 
commercialisation of innovative biodegradable and bioactive implants in key     
target markets. The Company's target segments are Spine and Specialty           
Orthopaedics.                                                                   

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 was incorporated in early 2000 and listed on the Official List of the    
UK Listing Authority in December 2004. The Company has an office in the UK and  
head office, R&D and production facilities 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.