YEAR-END REPORT 1 OCTOBER – 31 DECEMBER 2019

“2020 has started very well and up to the reporting date, the orderbook has increased by 116%. We are currently experiencing rapid growth, and I am happy to conclude that the year has started so well.

2020 is an incredibly important year for us. We are focusing on clinical results in Europe, the surgeries in the EPIC Knee study, strong growth in Europe and the launch of the ankle implant. In our opinion, all of this creates the basis for a very exciting 2020.” says Pål Ryfors, CEO Episurf Medical. 

Fourth quarter 2019 compared to 2018, Group

• Group net sales increased by 18.1% to SEK 1.3m (1.1)
• Gross order intake amounted to SEK 1.2m (1.5)
• Order backlog amounted to SEK 1.1m (1.2)
• 21.6% decrease in orders for Episealer® knee implants during the quarter with 47 (60) approved orders, the growth during 2020 up to the reporting date amounts to 115.8%.
• Loss for the period amounted to SEK -18.7m (-15.3), the increased costs during the quarter are due to the group’s work on the IDE study in the US
• Earnings per share amounted to SEK -0.21 (-0.49)

Twelve months 2019, compared to twelve months 2018, Group

• Gross order intake amounted to SEK 5.0m (4.4) an increase of 15.4%
• 22.4% increase in orders for Episealer® knee implants during the financial year with 202 (165) approved orders
• Group net sales increased by 23.5% to SEK 4.9m (4.0)
• Loss for the period amounted to SEK -69.8m (-57.8), the increased costs during the twelve months are due to the group’s work on the IDE study in the US
• Earnings per share amounted to SEK -1.04 (-1.71)

Significant events during the fourth quarter

• Dr. Kevin D. Plancher was appointed Lead Investigator for Episurf’s Episealer® IDE study
• US, Chinese, European and UK patent approvals for Episurf Medical
• Episurf Medical signed Italian distributor agreement
• Clinical data were presented in the UK, Germany, Italy and the US
• Clinical results for Episealer® were accepted as poster presentation for the ESSKA Congress

Significant events after the fourth quarter

• Episurf Medical received CE mark for Episealer® Talus and Talus Osteotomy Guide
• Episurf Medical updated on AI-based production process
• Episealer® will be presented at sports medicine meeting in Germany
• Clinical data for Episealer® were presented at orthopaedic congress in The United Kingdom
• US patent approval for Episurf Medical
• Episealer® Talus was registered for sale in Italy and Spain

For more  information, please contact:

Pål Ryfors, CEO, Episurf Medical
Tel:+46 (0) 709 62 36 69
Email: pal.ryfors@episurf.com

Veronica Wallin, CFO, Episurf Medical
Tel:+46 (0) 700 37 48 95
Email: veronica.wallin@episurf.com

About Episurf Medical

Episurf Medical is endeavoring to bring people with painful joint injuries a more active, healthier life through the availability of minimally invasive and individualised treatment alternatives. Episurf Medical’s Episealer® individualised implants and Epiguide® surgical drill guides are developed for treating localised cartilage injury in joints. Episurf Medical’s μiFidelity® system enables implants to be cost-efficiently tailored to each individual’s unique injury for the optimal fit and minimal intervention. Episurf Medical’s head office is in Stockholm, Sweden. Its share (EPIS B) is listed on Nasdaq Stockholm. For more information, go to the company’s website: www.episurf.com.

This information is information that Episurf Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 06.30 CET on 7 February 2020.

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