Inion Oyj - Company Announcement

US marketing clearance for spine fusion products

Inion Oy                                    
                           (“Inion or the “Company”)                            


   Inion receives 510(k) marketing clearance to sell its biodegradable graft    
          containment systems in the USA for spinal fusion procedures           
	                                                                               

Tampere, Finland and Guildford, UK. 15 July 2008, Inion (LSE: IIN.L), the       
company focused on the development and commercialisation of novel biodegradable 
medical implants, today announces it has received 510(k) marketing clearance    
from the US Food and Drug Administration (FDA) for its biodegradable graft      
containment systems for spinal fusion procedures.                               

The US marketing clearance has been received for the Inion S-1™ Anterior        
Cervical Fusion System, the Inion S-1™ double-level plate and the Inion S-2™    
Anterior Thoraco-Lumbar Fusion System. These systems consist of biodegradable   
plates and screws, which are designed for bone graft containment in spinal      
fusion procedures. Such procedures are carried out as a treatment for a range of
spinal conditions including ruptures and displacement of inter-vertebral discs. 
Inion's S-1™ and Inion S-2™ graft containment systems include implants intended 
for use along the entire length of the spine in conjunction with traditional    
rigid fixation.                                                                 

These new graft containment systems also incorporate a radiographic marker to   
the edges of the plates and to the tips of screws. These markers enable surgeons
to view the position of the implants in post-operative x-ray without interfering
with their assessment of the site of surgery and its healing progress.          

More than 183,000 cervical plating procedures (Ref. 1) and more than 10,000     
anterior thoraco-lumbar plating procedures (Ref. 2) were performed in 2006 in   
the USA. The US market for these procedures was worth approximately €318 million
and €32 million, respectively. The number of spinal plating procedures has since
grown at an annual rate of approximately 30%.                                   

Inion's biodegradable implants offer significant clinical benefits over         
traditional metal materials, primarily in that they slowly and completely       
degrade over time into carbon dioxide and water, which are absorbed into the    
body.                                                                           

The Inion S-1™ and Inion S-2™ graft containment systems received CE Mark        
marketing clearance in Europe in August 2007 and September 2007, respectively.  
                                                                                
Chris Lee, Inion's CEO, said: “The US marketing clearance for our biodegradable 
spine products is great news. We are already seeing increased uptake of this    
important product line in Europe where awareness and acceptance of the clinical 
benefits of biodegradable medical implants is rapidly growing among surgeons,   
who are adopting this technology into their practice. Our aim now is to push    
these new biodegradable products aggressively into the US spine market where we 
believe it will make an attractive alternative to traditional metal plates and a
strong driver of value for the Company.”                                        


References                                                                      
1.	Spinemarket, Inc: US spinal implant market: Cervical plate analysis. 2007    
2.	Spinemarket, Inc: US spinal implant market: Anterior lumbar plating analysis.
2007                                                                            

                                     -ends-                                     

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 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.