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YEAR-END REPORT VIGMED HOLDING AB, JANUARY 1 – DECEMBER 31, 2013

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Vigmed has developed well during the year and is approaching the point in time when its first products are to be launched on the European market. The Company has continued to build upon existing- and entered into new key partnerships during the year. A complete delivery chain from production to end user is in its final stage of being established.

A number of key patents have been granted during 2013 and several additional and unique products are under development.

Both management and organization has been strengthened and the Company is prepared for market launch and expansion in 2014.

Vigmed was listed in February 2013 on Nasdaq OMX First North in Stockholm and the share price has developed positively during the year.

Even though the Company has made good overall progress, unexpected needs of fine-tuning first the product itself and thereafter the assembly lines for CLiP®Ven have resulted in an unfortunate delay of the planned market launch, which now is expected to take place in May 2014. This constitutes a delay of two months compared to what has previously been communicated.

Key financials for the period 1 October to 31 December 2013:

  • Operating profit in the fourth quarter for the Group amounted to MSEK -5.5 (vs. MSEK -5.6 in 2012) which was in line with the forecast.
  • Net income per share in the fourth quarter was SEK -0.14.
  • Cash flow from operating activities during the fourth quarter amounted to MSEK -4.9 (MSEK -0.6).
  • Cash flow from investing activities during the fourth quarter amounted to MSEK -3.5 (MSEK -2.7).
  • The Group's cash and cash equivalents at end of the period amounted to MSEK 41.8 (MSEK 52.7).
  • Consolidated shareholders' equity at the end of the period amounted to MSEK 55.0 (MSEK 52.0).

Key financials for the period 1 January to 31 December 2013:

  • Group sales amounted to MSEK 0.0.
  • Operating profit for the Group amounted to MSEK -21.8 (MSEK -8.8).
  • Net income per share was SEK -0.58.
  • Cash flow from investing activities amounted to MSEK -12.3 (MSEK -4.7).
  • 3.6 million new shares were issued to Bure Equity AB, which added SEK 25 million in equity, in August 2013.
  • The Group's cash and cash equivalents at end of the period amounted to MSEK 41.8 (MSEK 52.7).
  • Consolidated shareholders' equity at the end of the period amounted to MSEK 55.0 (MSEK 52.0).

Significant events during the period 1 October to 31 December 2013:

  • A License Agreement was signed with HMD (the company’s Contract Manufacturer of I.V. Catheters) covering India on an exclusive basis, and a number of countries in South Asia, Middle East and Sub-Saharan Africa on a semi-exclusive basis.
  • Vigmed was granted the Vigclip “one hook” patent in the US, one of the base patents of the CLiP® product line.
  • Preparations for full scale production of the CLiP®Ven product progressed, but difficulties in the fine-tuning of the assembly lines will result in a two month delay of the market launch compared to what has been communicated earlier.
  • The management team of Vigmed was strengthened by the employment of Henrik Olsen as Director, Sales & Business Development, with sales responsibility for Americas, Middle East and Africa. Henrik has also been given interim responsibility for Operations and Capacity planning.

Significant events during the period 1 January to 30 September 2013:

  • The EU Council Directive 2010/32/EU (preventing medical sharps injuries) came into force on May 11, 2013, which means that the market is materializing for the unique products which Vigmed offers.
  • Cooperation with Hindustan Syringes & Medical Devices Ltd. (HMD) in India deepened and progressed. HMD invests in a new manufacturing unit for Vigmed’s CLiP® product line targeting a production start before year end. Fine-tuning requirements, initially for the product itself and thereafter for the assembly lines, result in a delay (see above).
  • Several important patents were granted:

       # Vigmed was granted patent for the injection protection device SWiNG.
       # Vigmed was granted its first patent in Europe for protected I.V. catheters.
       # Vigmed was granted a utility patent in China for a Y-type I.V. catheter, a catheter designed for the large Chinese market.

  • Through the cooperation partner MBH International A/S, Vigmed received CE marking for its product family CLiP® I.V. catheters.
  • Two new partnerships were formed:
    # A Contract Manufacturing Agreement for SWiNG, a unique protection mechanism for injection needles was signed with Swedish AB Euroform.
    # A Contract Manufacturing Agreement was signed with AMB Industri AB for a third product line, which is planned to be launched in 2015.

    The Board of Directors of Vigmed Holding AB

    For additional information please read the full Year-End Report

    For further information contact:

    Chairman of the board, Lennart Holm, 46 70-630 8562 or
    CEO, Finn Ketler, 46 42 600 5311

    Vigmed is a Swedish medical technology company whose mission is to eliminate needlestick injuries by offering the market unique needle-protected products. Vigmed is headquartered in Helsingborg, Sweden, and has approximately 15 employees. Vigmed’s share is traded on NASDAQ OMX First North in Stockholm (ticker VIG) and has approximately 5 400 shareholders. Remium Nordic AB is the Company’s Certified Advisor.

    Additional information such as company description, a video presentation and risk factors can be found on Vigmed’s website: www.vigmed.com

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    Year End Report Vigmed Holding AB Vigmed AB

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