Inion Oyj - Company Announcement

Inion CPS/OTPS FreedomPlate™ Receives 510(k) Regulatory Clearance for Treating Wide Range of Orthopaedic Trauma Indications, including Ankle Fractures

Inion CPS/OTPS FreedomPlate™ Receives 510(k) Regulatory Clearance for Treating 
    Wide Range of Orthopaedic Trauma Indications, including Ankle Fractures

Tampere, Finland and Takeley, UK. 21 February 2007…Inion [LSE: IIN.L], a company
focused on the development of novel biodegradable medical implants, has received
510(k) regulatory clearance from the US Food and Drug Administration (FDA) 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. 510(k) clearance is required of medical device manufacturers prior to
commercial distribution in the US.                                              

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.                                                 

Importantly, this 510(k) clearance now allows Inion to sell its biodegradable   
implant offering for all orthopaedic trauma indications, making it the first    
complete biodegradable plating system. This also removes the previous limitation
of the Inion OTPS™ product line to target the high-value ankle fracture segment 
of the trauma market in the USA, for which a biodegradable plating system is    
currently undergoing a clinical trial to demonstrate its efficacy compared to a 
metal construct.                                                                

Dr Auvo Kaikkonen, CEO of Inion, commented, “This is a very important new       
product launch for Inion as it means we can market the Inion OTPS™ line for all 
orthopaedic trauma indications in the USA, including for ankle fractures. We    
will naturally continue with ongoing prospective randomised clinical multicentre
study of our Inion OTPS™ ankle system and expect results, i.e. clinical efficacy
data, by early 2008. We are sure that this clearance strengthens our product    
offering and therefore our position in the orthopaedic surgery market.”         

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 during 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-                                     

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| Inion Oy	                                 | Tel: +44 1279 874 222            |
| Dr Auvo Kaikkonen, Chief Executive        | Tel: +44 1223 394 206            |
| Officer                                   |                                  |
| Dr Kirk Andriano, VP of R&D               |                                  |
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| Citigate Dewe Rogerson                    | Tel: +44 207 638 9571            |
| Mark Swallow / David Dible / Helena       |                                  |
| Galilee                                   |                                  |
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About Inion (www.inion.com)                                                     
Inion Oy is a Finnish company that specializes in the development of            
biodegradable medical implants.                                                 

The Inion core expertise and technology lies in the design and manufacture of   
innovative biodegradable plates, screws, pins and membranes that are used to    
enhance the healing of skeletal injuries (bone and soft tissue), 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 has developed and launched products in five strategic business areas -    
cranio-maxillofacial surgery, orthopaedic trauma, sports medicine, dental       
surgery and most recently in the spinal implant area - in nearly 50 countries   
worldwide.                                                                      

Inion was incorporated in early 2000 by an international team of experts in     
biodegradable materials and their clinical applications, and listed on the      
Official List of the UK Listing Authority in December 2004. The Company's has   
operations in the UK, R&D and production facilities in Tampere, Finland, and a  
US office in Oklahoma City, OK.                                                 


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.