Year-end report 1998
Year-end report 1998 During 1998 Artimplant's research and development within resorbable implants has expanded and includes more than a dozen separate product projects. The Company expects to have four products in clinical trial during 1999, with the aim to have at least one product certified for market launch during year 2000. During 1998 a pilot study was performed including 20 patients with anterior cruciate ligament (ACL) injuries. A multicenter study including at least 200 patients with ACL injuries in the knee is initiated during the first quarter 1999. The protocols for the first multicenter study have been adapted to the regulations stipulated by the FDA. Artimplant has filed patents for three new application areas, such as treatment of chronic sores and cartilage damages. Furthermore, a patent regarding production of ligament implants has been filed. Artimplant has received approval from the Ethical Committee of the University of Gothenburg to perform two clinical trials with resorbable implants for surgical treatment of hand injuries. Notification to the National Swedish Board of Health and Welfare has been accepted and one of the studies has been initiated during the first quarter 1999. During the second quarter 1998 Artimplant acquired Gothenburg Medical Center (GMC), one of the leading clinics in Sweden in orthopedic surgery. GMC performs on a yearly basis approximately 90 cartilage replacements, a treatment therapy that has been developed in Gothenburg and approved by FDA in the US on the basis of clinical documentation from GMC. st, Artimplant's net sales, which include GMC as of May 1 19 98, amounted to 11.4 MSEK (0.5 MSEK). Artimplant's operating result amounted to -8.5 MSEK (- 3.8 MSEK). Result after financial items amounted to -3.5 MSEK (-9.4 MSEK), after income of 3.1 MSEK derived from sale of warrants. Earnings per share amounted to -0.53 SEK (-1.54 SEK). Gothenburg, February 19, 1999 Artimplant AB (publ) Anders Cedronius Chief Executive Officer Artimplant's interim reports and press releases can be retrieved from Hugin's database: www.huginonline.se/ARTI For further information, please contact: Anders Cedronius, CEO tel: +46 (0)31 - 746 5600 Kari Odhnoff, Investor relations tel: +46 (0)708 - 639 341 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/19/19990219BIT00020/bit0001.doc The Complete Report http://www.bit.se/bitonline/1999/02/19/19990219BIT00020/bit0002.pdf The Complete Report