Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


Preliminary Results for the Year Ended 31 December 2004


Financial Highlights
• Sales more than doubled to €6.8m (2003: €2.99m) – the third consecutive year of triple-digit growth
• Pre-tax losses down 12% to €7.27 m (2003: €8.19m)
• R&D expenditure up 48% to €2.2m (2003: €1.5m)
• Successful Initial Public Offering (IPO) in December, raising £38m before expenses

Operational Highlights
• New product launches in three clinical areas – Sports medicine, Orthopaedic trauma and Dental
• Additional distribution deals with Stryker Corporation and Aesculap
• Promising preclinical data generated on next generation, bioactive OPTIMA PLUS™ material

Post Balance Sheet Events
• Significant new biodegradable cervical spinal fusion system previewed at American Association of Orthopaedic Surgeons (AAOS) meeting in February 2005
• Completion of the sports medicine product line through introduction of ANCHRON™ shoulder suture anchor, which previewed at the AAOS in February 2005
• New administrative headquarters established in the UK at Takeley, between London and Cambridge
• Manufacturing capacity expanded in Tampere, Finland

Dr Auvo Kaikkonen, Chief Executive Officer of Inion, commented, “Inion has grown rapidly since our formation in 2000 based on our ability to develop and commercialise innovative biodegradable implants. These innovative products are continuing to gain greater acceptance from surgeons based on the clinical benefits they offer patients, and our strong branding has enabled us to build an international presence in the medical markets we target.

“Already we have seen the demand for our products increase as a result of the new distribution deals that we have signed with Stryker, with the result that our sales in 2004 more than doubled. We expect to introduce a number of significant new products during the next 12 months, which should enable us to maintain our strong sales momentum. Although triple-digit sales growth is clearly not sustainable in the long term, the Board is confident that we will see another year of strong growth during 2005. With the proceeds from our successful IPO in London providing the funding for the development of our next generation bioactive OPTIMA PLUS™ technology, the longer-term picture also looks promising.”


A presentation to analysts will take place at 08.30 today at Nomura International, Nomura House, 1 St Martin's-le-Grand, London EC1A 4NP, UK. Refreshments from 08.15. Please contact Mark Swallow at Citigate Dewe Rogerson on 020 7282 2948 or 07903 737703 for further information.

CONTACTS

Inion
Dr Auvo Kaikkonen, Chief Executive Officer
Jari Kortesluoma, Chief Financial Officer
+358 3 230 6600
Citigate Dewe Rogerson
Mark Swallow / David Dible
+44 (0)20 7638 9571

About Inion (www.inion.com)

Inion Oy is a Finnish company that specialises in the development of biodegradable medical implants. Inion’s 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’s implants are made from its proprietary 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 four strategic business areas – cranio-maxillofacial surgery, orthopaedic trauma, sports medicine and dental surgery – in more than 40 countries worldwide, and has a number of international distribution agreements in place, with among others Stryker Corporation and Aesculap (part of B.Braun).

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 corporate headquarters in the UK, R&D and production facilities in Tampere, Finland


Publisher Contact Information:

Inion
+358 3 230 6600
jari.kortesluoma@inion.com

Company profile of Inion
Past press releases of Inion.

Data


27,147
Tech investments
From our Online Data Service
17,523
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Nov 25€24.0MInternet commerce
Jul 23€23.0MArtificial Intelligence
Jul 22€20.0MKnowledge management
Jul 5€110.0MOther Biotechnology & Healthcare
Jul 5€13.0MInternet services
Jul 3€3.7MMedical devices
Jul 3€27.0MPayment software

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Mar 31
CompPair
the fit allocates chf 100'000 to comppair technologies

Jan 29
Yumpingo
yumpingo raises $10m to transform guest experiences in restaurants

Oct 1
The Link App
the link app launches version 2.0





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.