Artimplant effects directed new issue of one million shares

Artimplant effects directed new issue of one million shares The Board of Directors of Artimplant has on April 9, 2000, based on the authorization from Artimplant's Extraordinary General Meeting, resolved on a directed new share issue to institutional investors. Artimplant's proceeds from the new issue will be SEK 143 million before issue related costs through an issuance of 1,000,000 shares of series B at SEK 143 per share. The issue price corresponds to a discount of about 4.5 per cent compared to closing price April 7, 2000. After the new issue the total number of shares in Artimplant amounts to 9,250,000, whereof 1,000,000 shares of series A and 8,250,000 shares of series B. The majority of new shareholders are non-Swedish. At year-end 1999 shareholders' equity amounted to SEK 77.4 million or SEK 9.38 per share. As a result of the new share issue shareholders' equity increases to approximately SEK 220 million corresponding to SEK 24 per share. As Artimplant is entering a market phase with a global launch strategy the company views it as natural to increase the share of foreign ownership. Artimplant aims to primarily use the proceeds to intensify the work with clinical trials and marketing. It is therefore the company's intention to launch several new products earlier than planned. 'We are very pleased with the placing. The market potential for Artimplant's products under development amounts to more than SEK 30 billion and we have gained acceptance for our launch strategy. With the new proceeds we can be more aggressive in our upcoming market launches. Despite the high volatility on the stock market and of Artimplant's share price we have not needed to use all two million shares that the authorization gave room for', says Anders Cedronius, CEO at Artimplant. Enskilda Securities AB is financial advisor to Artimplant in connection with the issue. For further information, please contact: Lars-Erik Nygren, CFO tel: +46 - 31 - 746 56 00 Kari Odhnoff, Investor Relations tel: +46 - 708 - 63 93 41 www.artimplant.se Artimplant is a biomaterial company focused on unmet needs in the field of orthopedic surgery. Artimplant's business concept is to develop, manufacture and market biodegradable implants that provide the injured tissue with temporary relief and support the body's natural healing process. The vision is to be world-leading within biologically degradable implants that stimulate self-healing and re-create an active life. The Company's researchers, which represent a unique combination of interdisciplinary competence, have synthesized a vast number of biodegradable polymers, that can be tailored for use in a number of different medical-treatment areas. Artimplant has developed and patented a resorbable ligament implant that currently is undergoing clinical trial including 200 patients for treatment of injured anterior cruciate ligament (ACL). Early follow-up results from the pilot study using Artimplant's ACL implant show both subjective and objective joint stability in the operated knee, and the technique made possible relatively early rehabilitation. A ruptured ACL in the knee is one of the most frequent ligament injuries and often leads to lifelong detrimental effects for the injured, and substantial costs to society. Artimplant's technology can be applied in numerous other areas, and the development activities have expanded to include more than a dozen projects. Artimplant's goal is to launch at least one product year 2000. As part of Artimplant's market strategy Gothenburg Medical Center (GMC) was acquired with the purpose of establishing Swedish headquarters for Artimplant Academy - a forum for advanced clinical research, application and education within orthopedic surgery. Artimplant is listed on the OM Stockholm Exchange O-list. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/04/10/20000410BIT00240/bit0001.doc http://www.bit.se/bitonline/2000/04/10/20000410BIT00240/bit0002.pdf