STOCKHOLM, Sweden, Feb. 20, 2002 (PRIMEZONE) -- Artimplant:
2001-Summary
-- Artimplant achieved certification of its quality system and
obtained approval to market its first product, the Artelontm
Augmentation Device ACL (ACL).
-- The Company changed its marketing strategy. Plans call for sales
and marketing to be conducted through strategic global partners,
which initially will delay sales of ACL. A corporate development
function was formed in the latter half of the year, its first
task being to work on licensing Artimplant's products and
product-development projects.
-- Discussions have begun with several large, multinational
enterprises in medical technology and biotechnology. These
parties expressed an interest in discussing the licensing of ACL
and other product- development projects. Their interest is
directed partly at the products and partly at Artimplant's
technology platform, which is believed to have potential for
product-development in orthopedics as well as other areas of
therapy.
-- According to three-year follow-up data from the pilot study under
way on ACL, all patients' knees are stable, Artimplant's
degradable material Artelontm is biocompatible and connective
tissue vascularizes and grows into the material.
-- In the 12-month results from the pilot study on Artimplant's
Spacer, patients demonstrated enhanced gripping strength and
reduced pain as early as six months after the operation.
-- A multicenter study using the Artelon Spacer CMC-1 was approved
in the fourth quarter by the National Swedish Board of Health
and Welfare and the requisite committees on research ethics. The
first patients will be included during the first quarter of 2002.
-- A new project-oriented organization was introduced in the fourth
quarter. The aim is to streamline product-development and
accelerate work leading to the approval of products for sale,
chiefly in Europe through CE approval.
-- Consolidated net sales rose 6%, to SEK 23.7 million (22.4).
-- The operating loss totaled SEK 58.2 million (SEK 27.1 million
loss). The deterioration was mainly attributable to increased
costs for R&D, preparations for product roll-out, and licensing
activities.
Significant Events in January-February 2001
-- At present, confidential negotiations are under way with two
global enterprises on licenses and partnership agreements in the
field of orthopedics.
Scheduled financial information:
Three-month interim report: May 3, 2002 Six-month interim report: August 21, 2002 Nine-month interim report: November 6, 2002
Interim reports are made available at Artimplant's web site, www.artimplant.se, at the same time as they are distributed to the media.
Artimplant
Artimplant specializes in biodegradable materials for use in orthopedic surgery. Artimplant is active in the research, development, and manufacture of biologically degradable implants with the goal of recreating active lives for patients. The biodegradable material the Company has developed is based on a new technology that is opening new markets in the field of orthopedic surgery as well as other specialized fields where there are significant medical needs.
Artimplant has already developed and patented several different degradable ligament implants, now undergoing clinical trials. The Company is focusing on three high-priority areas for its degradable material, called Artelon(tm): an augmentation device for anterior cruciate ligament reconstruction, hand surgery, and augmentation sutures.
Artimplant is listed on the O list of Stockholmsborsen, the stock exchange in Stockholm.
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The following files are available for download:
www.waymaker.net/bitonline/2002/02/20/20020220BIT00060/bit0002.doc The Full Year-End-Report www.waymaker.net/bitonline/2002/02/20/20020220BIT00060/bit0002.pdf The Full Year-End-Report