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2008-04-03 10:01:00 CEST 2008-04-03 10:57:15 CEST REGLERAD INFORMATION Inion Oyj - Interim Management statementInterim Management Statement Q1 2008Inion Oy (“Inion or the “Company”) Interim Management Statement Tampere, Finland and Guildford, UK. 3 April 2008, Inion (LSE: IIN.L), a company focused on the development and commercialisation of novel biodegradable medical implants, is today issuing its Interim Management Statement (“IMS”) for the three months ended 31 March 2008. Chris Lee, CEO of Inion, said: “We believe that Inion is turning the corner following the reorganisation we undertook in 2007. As a result of this effort, we are already seeing an increasing demand for our products compared with this period last year. In the USA, we have built a substantial part of our distributor network and are now focusing on getting the distributor sales force fully trained and operational in order to accelerate sales towards our target in 2008 of at least 35% revenue growth on 2007.” Highlights Invoiced sales for Q1 2008 are €824,000, with the order book at €537,000 at the end of Q1 2008 (compared with €990,000 and €231,000, respectively at the end of Q1 2007) Clean room manufacturing staff numbers increased by 100% to 14 to meet future anticipated increase in demand in 2008 The number of distributors appointed in the US has now increased to 40, with 34 focusing on the sales and distribution of speciality orthopaedics products and six focusing on spine products sales US commercial activity to focus on increasing active training and management of current distributors to accelerate sales growth Cash, cash equivalents and short-term investments totalled €13.8 million at 31 December 2007 -ends- For further information, please contact: -------------------------------------------------------------------------------- | Inion Oy | Tel: +44 (0)1483 685390 | | Chris Lee, Chief Executive Officer | | | Julien Cotta, Chief Financial Officer | | -------------------------------------------------------------------------------- | Citigate Dewe Rogerson | Tel: +44 (0)207 638 9571 | | Mark Swallow / David Dible | | -------------------------------------------------------------------------------- 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. |
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