Inion Oyj - Company Announcement

Inion CPS/OTPS FreedomPlate™ Biodegradable Orthopaedic Implant Receives CE Mark

Inion CPS/OTPS FreedomPlate™ Biodegradable Orthopaedic Implant Receives CE Mark 
                               for Sale in Europe                               

Tampere, Finland and Takeley, UK. 24 May 2007…Inion [LSE: IIN.L], a company     
focused on the development of novel biodegradable medical implants, has received
CE Mark from the British Standards Institution (BSI) for the Inion CPS/OTPS     
FreedomPlate™ biodegradable device for surgical application in fixation of      
fractures and osteotomies in the entire skeleton, but excluding the spine. CE   
Mark is required by a number of accredited bodies to medical device             
manufacturers prior to commercial distribution in the European Union. This      
product received equivalent 510(k) regulatory clearance for marketing in the USA
in February 2007.                                                               

The Inion CPS/OTPS FreedomPlate™ biodegradable implant system has been cleared  
for the fixation of a wide range of bones, including those in the arm, leg,     
skull and ankle, in the presence of appropriate additional immobilization or    
fixation, such as plaster cast.                                                 

Chris Lee, CEO of Inion, commented, “This is an important new product launch for
Inion as it means we can now market the Inion OTPS™ line for all orthopaedic    
trauma indications, including for ankle fractures, in the USA and in Europe.”   

The Inion CPS/OTPS FreedomPlate™ implants are made of Inion Optima™             
biodegradable polymer blend, which have a long history of safe medical use and  
that degrade in the body into carbon dioxide and water. The implants gradually  
lose their strength after 18-36 weeks and bioresorption takes place within two  
to four years.                                                                  

A picture of the Inion CPS/OTPS FreedomPlate™ is available on request.          

                                     -Ends-                                     

--------------------------------------------------------------------------------
| Inion Oy	                                 | Tel: +44 1279 874 222            |
| Mr Chris Lee, Chief Executive Officer     |                                  |
| Mr Julien Cotta, Chief Financial Officer  |                                  |
| 	                                         |                                  |
--------------------------------------------------------------------------------
| Citigate Dewe Rogerson                    | Tel: +44 207 638 9571            |
| Mark Swallow / David Dible / Helena       |                                  |
| Galilee                                   |                                  |
--------------------------------------------------------------------------------

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 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. The Company has an office and an R&D        
facility 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.