Artimplant receives ongoing funding for costs related to lawsuits in the U.S.
Artimplant has previously announced its assessment that there is adequate insurance coverage for all injuries alleged in the ongoing trials in the U.S. However it is currently unclear if it falls under Artimplant former or current insurance provider. In the meantime, while the liabilities are determined, an agreement has been made to ensure that Artimplant, for the foreseeable future, receives funding for the costs Artimplant has to run the lawsuits. The costs will thereby not affect Artimplant liquidity.
For additional information, please contact:
Kjell Thörnbring, CEO, phone +46 (0)703 11 90 25,
Further information is available at www.artimplant.com. To subscribe to future press releases please go to www.artimplant.com/investors-media/subscribe-to-press-releases.html
Artimplant is a biomaterials company focused on solutions to problems in orthopedic and oral surgery. We restore health through the development, production and marketing of degradable implants that regenerate body functions and improve quality of life. Our products, made from Artelon®, meet unmet clinical needs and are marketed in a growing number of therapy areas. Artimplant produces implants for treatment of osteoarthritis in hands and feet, for shoulder and other soft tissue injuries as well as oral surgery and veterinary medical applications.
Artimplant is a public company listed on the NASDAQ OMX Stockholm Exchange in the Small Cap segment and in the healthcare sector.
This press release contains forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand its operations and to attract and retain qualified professionals; technological obsolescence; general economic conditions; and other risks detailed from time to time in the Company's filings.
This is information which Artimplant shall make public pursuant to the Swedish Financial Instruments Act and the Swedish Securities Exchange and Clearing Operations Act and/or stock market agreements. Information was made available for publication on August 16, 2012 at 2:30 PM (Swedish time).