Vitrolife commences clinical study with new facial aesthetic implant
VITROLIFE COMMENCES CLINICAL STUDY WITH NEW FACIAL AESTHETIC IMPLANT Vitrolife has commenced a clinical study to evaluate the performance of its new proprietary crosslinked hyaluronan product for facial aesthetic injection. The trial will be performed on 60 patients and recruitment is expected to be completed by the end of 2001. Filing for CE-marking will be submitted in Q2, 2002. This is the first product from Vitrolife Biosupportive System's pipeline of new products based on its novel, proprietary hyaluronan crosslinking process. Hyaluronan is present in all tissues of the body diminishing with age, resulting in wrinkles and loss of tension of the skin. Vitrolife's unique process of double crosslinking of the hyaluronan molecules produces an ultrapure biocompatible dermal implant with increased aesthetic treatment outcome. The market for new non-animal derived dermal implants is expected to grow at the expense of existing collagen-based products. The only products based on cross-linked hyaluronan of non-animal origin are marketed by Q-Med. So far there are no similar products on the US market. The world market for facial aesthetic surgery products is currently estimated to approximately 300 million USD, with a growth rate of at least 25% per annum. Göteborg, 22th of October 2001. Vitrolife AB (publ) For further information, please contact: President and CEO Dr. Peter Svalander, tel +46-31-721 80 01 CFO Stefan Jacobsson, tel +46-31-721 80 10 www.vitrolife.com Vitrolife Vitrolife's business mission is to develop, produce and sell advanced products and systems for the preparation, cultivation, preservation and support of cells, tissues and organs. Vitrolife expands the Company's production capacity to meet an expected increase in demand for its products, as well as strengthen its global market position as a leading company in the development of innovative cell and tissue technologies. Vitrolife believes that the number of procedures performed annually involving tissue and cell technologies will increase as new treatments are introduced and existing treatments are improved. In addition, Vitrolife expects that the regulation surrounding approval processes and quality control for its products will increase. Vitrolife aims to create competitive advantages from this regulation by meeting and exceeding expected future demands of regulatory authorities, ahead of the Company's competitors. Since it commenced its operations in 1993, Vitrolife has expanded rapidly. The Company currently has over 90 employees and sells its products in over 80 countries. During the latest five-year period, sales have increased by an average of 33 percent and totalled more than SEK 82 million for the fiscal year 2000. The Vitrolife share is listed on the Stockholm Exchange (Stockholmsbörsen) O-list under the ticker VITR. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/22/20011022BIT00710/bit0002.doc http://www.waymaker.net/bitonline/2001/10/22/20011022BIT00710/bit0002.pdf