Artimplant: Nine-month report 2000.Business Editors STOCKHLM, Sweden--(BUSINESS WIRE)--Nov. 1, 2000
- The intensive work with the build-up of the quality control system
has been in progress during most of the year and used resources
from all functions within Artimplant. The quality control system,
which is a prerequisite for an EU-certification, is believed to be
up and running in December 2000, which is approximately two months
later than earlier expected. An audit of the company's quality
control system is believed to take place during the same month by
a Notified Body.
- The same Notified Body will also perform a technical audit related
to the certification of Artimplant's first product. Depending on
the time the Notified Body needs for the technical audit,
certification of the product can take place at the earliest before
year-end.
- The documentation for an EU-certification of Artimplant's
augmentation implant for reconstruction of the anterior crutiate
ligament injury (ACL injury) includes clinical data from a 30
month follow-up of the pilot study initiated in autumn 1997.
Furthermore, the documentation includes safety data from the first
randomized multicenter study including 200 patients.
- The first randomized multicenter study is proceeding according to
plan. Interim follow-up shows no deviation from expectations or
compared to earlier pilot study. This study is designed according
to FDA's recommendations regarding long term follow-up of
reconstruction of ACL injuries.
- As a support for the scientific documentation and Artimplant's
launch strategy of various products, further clinical studies are
planned within and outside the Nordic region. This includes an
expansion of the second multicenter study for ACL injuries as well
as initiation of a multicenter study with the spacer implant for
treatment of osteoarthritis at the base of the thumb.
- Revenues for the Group during the first nine months amounted to
SEK 16.5m (14.2m). The operating result amounted to SEK -16.7m
(-8.8m). Result after financial items amounted to SEK -11.5m
(-8.5m). Earnings per share after taxes amounted to SEK -1.32 (SEK
-1.31).
Artimplant's result January-September 2000 Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the Group during January-September 2000 amounted to SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 16.5m (14.2m). Operating result during the period amounted to SEK -16.7m (-8.8m). Result after financial items amounted to SEK -11.5m (-8.5m). Goodwill relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the acquisition of GMC GMC See: Guaranteed Mortgage Certificate amounted to SEK 12.4m at the end of the reporting period and is depreciated Depreciated may refer to:
Higher costs and investments for R&D operations, marketing and production had a negative effect on the operating result. Additional personnel was recruited to all these functions during the first nine months 2000. Revenues from sales of warrants to personnel and persons tied to the Artimplant Group, as well as higher interest income from share issue proceeds received in April 2000, had a positive effect on financial items. Net sales for the subsidiary Gothenburg Medical Center (GMC) amounted to SEK 15.5m (14.4m) during the first nine months 2000. Operating result amounted to SEK 0.3m (0.6m). The lower operating result is in its entirety The whole, in contradistinction to a moiety or part only. When land is conveyed to Husband and Wife, they do not take by moieties, but both are seised of the entirety. due to an increase in costs for cultivation cultivation, tilling or manipulation of the soil, done primarily to eliminate weeds that compete with crops for water and nutrients. Cultivation may be used in crusted soils to increase soil aeration and infiltration of water; it may also be used to move soil to or of cartilage cells cartilage cell n. See chondrocyte. in connection with cartilage cartilage (kär`təlĭj), flexible semiopaque connective tissue without blood vessels or nerve cells. It forms part of the skeletal system in humans and in other vertebrates, and is also known as gristle. replacement procedures. As of the fourth quarter, GMC will forward the entire cost increase to invoicing in·voice n. 1. A detailed list of goods shipped or services rendered, with an account of all costs; an itemized bill. 2. The goods or services itemized in an invoice. tr.v. , which is not expected to have a negative effect on the demand for such surgical procedures Surgical procedures have long and possibly daunting names. The meaning of many surgical procedure names can often be understood if the name is broken into parts. For example in splenectomy, "ectomy" is a suffix meaning the removal of a part of the body. "Splene-" means spleen. . Operations Artimplant is a biomaterial biomaterial /bio·ma·te·ri·al/ (bi?o-mah-ter´e-al) a synthetic dressing with selective barrier properties, used in the treatment of burns; it consists of a liquid solvent (polyethylene glycol-400) and a powdered polymer. company focused on unmet un·met adj. Not satisfied or fulfilled: unmet demands. medical needs in the field of orthopedic surgery Orthopedic Surgery Definition Orthopedic (sometimes spelled orthopaedic) surgery is surgery performed by a medical specialist, such as an orthopedist or orthopedic surgeon, trained to deal with problems that develop in the bones, joints, and ligaments . The company develops biodegradable biodegradable /bio·de·grad·a·ble/ (-de-grad´ah-b'l) susceptible of degradation by biological processes, as by bacterial or other enzymatic action. bi·o·de·grad·a·ble adj. implants, in order to recreate an active life. The implants provide injured in·jure tr.v. in·jured, in·jur·ing, in·jures 1. To cause physical harm to; hurt. 2. To cause damage to; impair. 3. or worn tissue with temporary relief and support the body's natural healing natural healing Alternative healing Alternative health Any healing technique that may be rooted in supernaturalist methods. See Absent healing, Acupuncture, Acupressure, Alexander technique, Applied kinesiology, Ayurvedic medicine, Bioenergetics, Cayce therapies, processes. The company's in-house developed biomaterials are based on a new patented technology that opens new market opportunities within orthopedic surgery and several other specialist areas where medical needs are significant. An intensive work with the build-up build·up also build-up n. 1. The act or process of amassing or increasing: a military buildup; a buildup of tension during the strike. 2. of the quality control system has been in progress during most of 2000 and used resources from all functions within Artimplant. A Notified Body audits and approves the company's quality control system. An review is made of all functions such as R&D, production, marketing and administration. The quality control system is expected to be up and running in December 2000, which is approximately two months later than earlier expected. An audit of the company's quality control system is believed to take place the same month. An approval of the quality control system is a prerequisite pre·req·ui·site adj. Required or necessary as a prior condition: Competence is prerequisite to promotion. n. to receive a certification. Artimplant is aiming at an EU-certification of the first product, an augmentation AUGMENTATION, old English law. The name of a court erected by Henry VIII., which was invested with the power of determining suits and controversies relating to monasteries and abbey lands. device to use for anterior anterior /an·te·ri·or/ (an-ter´e-or) situated at or directed toward the front; opposite of posterior. an·te·ri·or adj. 1. Placed before or in front. 2. crutiate ligament ligament (lĭg`əmənt), strong band of white fibrous connective tissue that joins bones to other bones or to cartilage in the joint areas. The bundles of collagenous fibers that form ligaments tend to be pliable but not elastic. reconstruction. The Notified Body performs an audit related to the certification of the product. Depending on the time the Notified Body needs for the technical audit, certification of the product can take place before year-end at the earliest. The documentation for an EU-certification of Artimplant's augmentation device for reconstruction of anterior cruciate ligament injury anterior cruciate ligament injury Sports medicine An injury most common in sports characterized by abrupt changes of direction–eg, football, skiing, tennis, soccer Clinical Swelling, tenderness of knee Management ACL reconstruction via arthroscopy (ACL injury ACL injury See Anterior cruciate ligament injury. ) includes clinical data from a 30 month follow-up of the pilot study initiated in autumn 1997. Furthermore, the documentation includes safety data from the first randomized ran·dom·ize tr.v. ran·dom·ized, ran·dom·iz·ing, ran·dom·iz·es To make random in arrangement, especially in order to control the variables in an experiment. multicenter study including 200 patients. Artimplant expects to have several products certified See certification. during the coming years and has therefor there·for adv. For that: ordering goods and enclosing payment therefor. Adv. 1. therefor initiated an extensive pre-launch program. This includes mapping of the larger markets in Europe with the purpose of establishing own sales channels over time in countries such as Germany, France, Spain, Italy and Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. . The market organization is under continued build-up. A Sales Director for the Nordic region has recently been recruited. As a support for the scientific documentation and Artimplant's launch strategy of various products, further clinical studies are planned within and outside the Nordic region. This includes an expansion of the second multicenter study for ACL injuries initiated during the first half of 2000 in Finland and expanded into Sweden. Planning of an international multicenter study with the spacer implant implant /im·plant/ (im-plant´) to insert or to graft (tissue, or inert or radioactive material) into intact tissues or a body cavity. for treatment of thumb-base osteoarthritis osteoarthritis or osteoarthrosis or degenerative joint disease Most common joint disorder, afflicting over 80% of those who reach age 70. It does not involve excessive inflammation and may have no symptoms, especially at first. is ongoing. The first project of the Molnlycke Health Care cooperation has been completed. The biological evaluation of the new material variations within the wound care area will take place under Molnlycke's management. Artimplant will parallelly continue biological evaluation of the new materials within other medical application areas, which are not included in the agreement. Discussions are ongoing regarding a second project within the collaboration agreement. Molnlycke has per July paid in full for the first project. Anterior Crutiate Ligament (ACL See access control list. 1. ACL - Access Control List. 2. ACL - Association for Computational Linguistics. 3. ACL - A Coroutine Language. A Pascal-based implementation of coroutines. ["Coroutines", C.D. ) A ruptured rup·ture n. 1. a. The process or instance of breaking open or bursting. b. The state of being broken open. 2. A break in friendly relations. 3. Pathology a. ACL in the knee is one of the most frequent ligament injuries and often leads to lifelong detrimental det·ri·men·tal adj. Causing damage or harm; injurious. det  ri·men effects for the
injured, and substantial costs to society. Artimplant's first
product for certification is an implant for reinforcement reinforcement /re·in·force·ment/ (-in-fors´ment) in behavioral science, the presentation of a stimulus following a response that increases the frequency of subsequent responses, whether positive to desirable events, or during
ACL-injury reconstruction. The application refers to reinforcement
(augmentation) of tissue taken from the patient (so called autograft autograft: see transplantation, medical. ).
Artimplant has so far intiated three clinical studies for this
application:
1. a pilot study initiated in autumn 1997 including 20 patients where
a part of the patient's patellar tendon has been reinforced with
Artimplant's implant,
2. a first randomized multicenter study including 200 patients
initiated in spring 1999, where half of the group was surgically
treated with the same technique as in the pilot study and the
other half with patellar tendon without reinforcement. This study
is designed according to FDA's recommendations regarding long term
follow-up of reconstruction of ACL- injuries (minimum 24 months
follow-up),
3. a second randomized multicenter study including 100 patients
initiated in spring 2000. Half the group was surgically treated
with tendon taken from the back side of the patient's thigh (so
called hamstring) reinforced with Artimplant's implant and half of
the group with hamstring tissue without reinforcement.
One of the potential advantages with the hamstring hamstring /ham·string/ (ham´string) one of the tendons bounding the popliteal space laterally and medially. inner hamstring the tendons of gracilis, sartorius, and two other muscles of the leg. method is less complications at the donor site donor site, n the portion of the body from which an organ or tissue is removed for transplant or grafting. compared to if the patellar patellar of or pertaining to the patella. patellar cartilage a cartilaginous process borne on the medial side of the patella of horses and cattle. tendon tendon, tough cord composed of closely packed white fibers of connective tissue that serves to attach muscles to internal structures such as bones or other muscles. is used. In the study, which takes place in Finland and Sweden, 75 patients have been treated. The operation series includes a total of 100 patients. Currently the company is planning for studies in other Nordic countries based on the same protocol. The first randomized multicenter study is proceeding according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. plan. Interim follow-up shows no deviations from expectations or compared to earlier pilot study. Clinical data from this multicenter study can according to the protocol be used to show clinical stability after a 24 month follow-up. Spacer Artimplant is carrying out a hand surgery study on ten patients with osteoarthritis at the base of the thumb. The injury causes increasing pain and limited grasping grasping a similar equine neurosis to windsucking; the horse grasps a fixed object with its teeth, but does not swallow air. ability. Osteoarthritis at the base of the thumb is one of the most common forms of arthritis in the hand, especially among older women. Approximately one million people in the western world are diagnosed with thumb-base osteoarthritis each year and satisfying treatment alternatives are not avaliable. The market potential is estimated at SEK 5-12bn. Preliminary follow-up results show that treatment with Artimplant's biodegradable implant (spacer) leads to significant pain relief already within six months. The six month results will be presented at an international forum as soon as an adequate patent protection for the product is secured, which is expected to be possible during the first quarter 2001. Furthermore, Artimplant plans to initiate an international clinical multicenter study during 2001 for treatment of thumb-base osteoarthritis. Thumb ligament At an international hand surgery congress during August in Kuopio, Finland, Artimplant presented promising short term follow-up results on a new method for treatment of chronic thumb ligament injuries. All five patients included in a pilot study had after six months regained normal joint stability and grasp strength in the operated joint. Today these patients are normally offered arthodesis as the only remaining treatment alternative. In the pilot study a so called augmentation technique was used, which means that joint tissue from the patient's wrist was reinforced with Artimplant's biodegradable implant. Using the augmentation principle is new within the hand surgery area and created considerable interest at the congress in Kuopio. The surgeon who has performed the operation program has received approval from the ethical committee to include additional patients in the pilot study. An estimated half a million people in the western world are diagnosed with thumb ligament injury each year. It is one of the most common skiing injuries in the hand. When early diagnosed, the injury is treated surgically shortly after occurrence whereby the ligament is reattached to its original location. However, an improper
n in dentistry the reattachment of the gingival epithelium to the surface of the tooth. reattachment The reanastomosis of a thing detached. See Penile reattachment. failure, will eventually lead to joint instability, cartilage weardown and arthrosis arthrosis /ar·thro·sis/ (ahr-thro´sis) 1. joint. 2. arthropathy. ar·thro·sis n. pl. ar·thro·ses 1. An articulation between bones. 2. development. The market potential for Artimplant's biodegradable implant for treatment of chronic thumb ligament injuries is estimated at approximately SEK 500m. Investments and financial position During January-September 2000 investments amounted to SEK 25.5m (17.3m), whereof where·of conj. 1. Of what: I know whereof I speak. 2. a. Of which: ancient pottery whereof many examples are lost. b. Of whom. SEK 20.1m (11.9m) were made in immaterial Not essential or necessary; not important or pertinent; not decisive; of no substantial consequence; without weight; of no material significance. immaterial adj. assets. At the end of the reporting period liquid assets Cash, or property immediately convertible to cash, such as Securities, notes, life insurance policies with cash surrender values, U.S. savings bonds, or an account receivable. amounted to SEK 148.9m (31.4m). After authorization The right or permission to use a system resource; the process of granting access. See access control. from an extraordinary General Meeting on March 27, 2000, Artimplant effected a directed issue of 1,000,000 B shares at a price of SEK 143 per share. The main share of the issue was subscribed by international institutions. During April, the company received proceeds amounting to SEK 136m after deduction deduction, in logic, form of inference such that the conclusion must be true if the premises are true. For example, if we know that all men have two legs and that John is a man, it is then logical to deduce that John has two legs. of issue related costs. Artimplant's ordinary Annual General Meeting on May 3, 2000 approved a warrant program for employees and persons tied to the Artimplant Group. The program includes 512,500 warrants and each warrant entitles to subscription of one B share at a price of SEK 300. The warrants are to be exercised no later than March 30, 2004. If fully exercised the warrant program will provide the company with proceeds of SEK 154m and have a dilutionary effect of 5.5% for the capital and 2.8% for the votes. At the end of the period, 243,100 rights had been subscribed. Personnel The number of employees at the end of the reporting period amounted to 60 (45), whereof 33 (30) were employed at GMC. The number of consultants tied to the parent company amounted to 11 (10). Patents As of October 31, 2000, Artimplant has five patents approved in Sweden whereof three are approved in a number of other countries. Another seven patents are being prepared for filing at the Swedish Patent Office (PRV See DVR. ). Financial statements The financial statements for January-September and full-year 2000 are compared with the corresponding period in 1999.
INCOME STATEMENT
ARTIMPLANT
Group Group Group Parent Parent Parent
Amounts in thousand SEK Jan- Jan- Jan-Dec Jan- Jan- Jan-
Sept Sept Sept Sept Dec
2000 1999 1999 2000 1999 1999
Net sales 16 542 14 163 20 032 2 392 418 1 613
Cost of goods & services -14 455 -11 753 -16 267 -2 392 -418 -1 613
sold
Gross profit 2 087 2 410 3 765 0 0 0
Research & development -10 051 -5 764 -9 187-10 051 -5 764 -9 187
expenses
Marketing expenses -3 019 -681 -1 892 -3 019 -681 -1 892
Administrative expenses -5 766 -4 760 -7 338 -3 418 -2 435 -4 239
Share in group results - - - 307 691 1 691
Operating result -16 749 -8 795 -14 652 -16 181 -8 189 -13 627
Interest income & other 2 850 586 753 2 793 502 640
financial income
Interest expenses & other
financial expenses -36 -292 -314 -36 -290 -310
Income from sale of 2 431 - - - - -
warrants
New share issue expenses - - - -6 797 - -
Financial items net 5 245 294 439 -4 040 212 330
Result after financial -11 504 -8 501 -14 213-20 221 -7 977 -13 297
items
Taxes -687 - 60 - - -
Net result for reporting -12 191 -8 501 -14 153-20 221 -7 977 -13 297
period
Note: Depreciations included in
Income Statement
Group Group Group Parent Parent Parent
Amounts in thousand SEK Jan- Jan- Jan-Dec Jan- Jan- Jan-
Sept Sept Sept Sept Dec
2000 1999 1999 2000 1999 1999
Capitalized R&D expenses 8 184 4 734 7 600 8 184 4 734 7 600
Patents 586 357 544 586 357 544
Goodwill 525 525 699 - - -
Machinery and equipment 2 009 1 167 1 750 1 708 901 1 391
Total depreciation 11 304 6 783 10 593 10 478 5 992 9 535
BALANCE SHEET ARTIMPLANT
Group Group Group Parent Parent Parent
Amounts in thousand SEK 2000- 1999- 1999-12- 2000- 1999- 1999-12-
09-30 09-30 31 09-30 09-30 31
ASSETS
Capitalized R&D expenses 32 855 20 004 22 287 32 855 20 004 22 287
Patents 2 000 1 163 1 199 2 000 1 163 1 199
Goodwill 12 429 13 128 12 954 - - -
Total intangible fixed 47 284 34 295 36 440 34 855 21 167 23 486
assets
Machinery and equipment 7 807 4 159 4 556 6 947 3 539 4 023
Construction in progress - 703 - - 703 -
Total tangible fixed 7 807 4 862 4 556 6 947 4 242 4 023
assets
Shares in subsidiary - - - 18 096 17 996 17 996
Total financial fixed - - - 18 096 17 996 17 996
assets
Total fixed assets 55 091 39 157 40 996 59 898 43 405 45 505
Receivables 1 718 2 536 2 408 - 988 988
Receivables group - - - - 2 580 602
companies
Other receivables 1 249 443 681 1 128 437 679
Prepaid expenses and 4 208 1 725 2 037 3 965 1 485 1 846
accrued income
Total short term 7 175 4 704 5 126 5 093 5 490 4 115
receivables
Cash and bank 148 940 31 359 39 660145 267 26 893 37 153
Total current assets 156 115 36 063 44 786150 360 32 383 41 268
TOTAL ASSETS 211 206 75 220 85 782210 258 75 788 86 773
Group Group Group Parent Parent Parent
Amounts in thousand SEK 2000- 1999- 1999-12- 2000- 1999- 1999-12-
09-30 09-30 31 09-30 09-30 31
SHAREHOLDERS' EQUITY &
LIABILITIES
Equity
Share capital 925 650 763 925 650 763
Paid-in, not registered - 13 360 9 936 - 13 360 9 936
new issue
Restricted reserves 215 696 65 113 83 016222 493 65 113 83 016
Total restricted capital216 621 79 123 93 715223 418 79 123 93 715
Non-restricted reserves -3 064 -2 207 -2 208 - - -
Net result for reporting-12 191 -8 501 -14 153-20 221 -7 977 -13 297
period
Total non-restricted -15 255-10 708 -16 361-20 221 -7 977 -13 297
period
Total equity 201 366 68 415 77 354203 197 71 146 80 418
Deferred tax 179 240 179 - - -
Other provisions 200 300 200 - - -
Total provisions 379 540 379 - - -
Other long term 100 200 200 100 200 200
liabilities
Total long term 100 200 200 100 200 200
liabilities
Accounts payable 2 826 1 318 2 640 2 014 1 072 2 334
Liabilities group - - - 989 - -
companies
Tax liabilities 687 - 2 - - -
Other short term 736 583 894 421 311 544
liabilities
Accrued expenses and 5 112 4 164 4 313 3 537 3 059 3 277
prepaid income
Total short term 9 361 6 065 7 849 6 961 4 442 6 155
liabilities
TOTAL SHAREHOLDERS'
EQUITY & LIABILITIES 211 206 75 220 85 782210 258 75 788 86 773
CASH FLOW ANALYSIS
ARTIMPLANT
Group Group Group Parent Parent Parent
Amounts in thousand SEK Jan- Jan- Jan-Dec Jan- Jan-Sept Jan-Dec
Sept Sept Sept
2000 1999 1999 2000 1999 1999
Current operations
Result after financial -11 504 -8 501 -14 213 -20 221 -7 977 -13 297
items
Adjustment for items 11 448 6 783 10 517 10 478 5 992 9 559
not effecting cash flow
Taxes Paid -687 - -1 - - -
Cash flow from current
operations before
changes in working -743 -1 718 -3 697 -9 743 -1 985 -3 738
capital
Cash flow from changes in
working capital
Increase(-), -2 049 -1 710 -2 132 -978 -1 519 -144
decrease(+) in
receivables
Increase(+), decrease(-) 1 512 1 283 3 067 806 1 065 2 778
in liabilities
Cash flow from current -1 280 -2 145 -2 762 -9 915 -2 439 -1 104
operations
Investments
Aquisition of
subsidiaries - -4 000 -4 000 -100 -4 000 -4 000
Aquisition of -20 139-11 936 -17 308 -20 139 -11 936 -17 308
intangible fixed assets
Aquisition of tangible -5 404 -1 392 -1 694 -4 632 -1 276 -1 571
fixed assets
Cash flow from -25 543-17 328 -23 002 -24 871 -17 212 -22 879
investments
Financing
New share issue 136 203 13 408 28 000 143 000 13 408 28 000
Repayment of loans -100 -100 -100 -100 -100 -100
Cash flow from 136 103 13 308 27 900 142 900 13 308 27 900
financing
Cash flow for
reporting 109 280 -6 165 2 136 108 114 -6 343 3 917
period
Liquid funds at 39 660 37 524 37 524 37 153 33 236 33 236
beginning of period
Liquid funds at end of 148 940 31 359 39 660 145 267 26 893 37 153
period
KEY RATIOS, GROUP
Jan-Sept Jan-Sept Jan-Dec
2000 1999 1999
Net result per share, SEK -1.32 -1.31 -1.72
Net result per share fully -1.25 -1.03 -
diluted, SEK
Equity per share, SEK 21.77 10.52 9.38
Equity per share fully 36.38 11.69 -
diluted, SEK
Number of shares at end of 9 250 000 6 503 000 8 250 000
reporting period
Number of shares fully 9 762 500 8 250 000 8 250 000
diluted
Return on shareholders[180] neg neg neg
equity, %
Return on capital neg neg neg
employed, %
Equity ratio, % 95 91 90
Paid-in, not registered new issue included when
calculating per share ratios for Jan-Dec 1999.
Other financial information:
Year-end report:February 20, 2001
Artimplant is a biomaterial company focused on unmet needs in the field of orthopedic surgery. Artimplant develops, manufactures and markets biodegradable implants with the aim of recreating an active life. The company's in-house developed biomaterials are based on a new patented technology that opens new market opportunities within orthopedic surgery and numerous other specialist areas where medical needs are significant. After more than ten years of development work Artimplant is now entering a market phase. Artimplant has developed and patented a number of biodegradable ligament implants currently undergoing clinical studies. Early observations from a pilot study using Artimplant's anterior crutiate ligament (ACL) implant show subjective as well as objective knee stability. The technique enables relatively early rehabilitation rehabilitation: see physical therapy. . 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. The market potential for Artimplant's ongoing development projects amounts to approximately SEK 30 bn. Furthermore, the market potential for Artimplant's carrier technology is estimated at more than SEK 50 bn. 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. The Artimplant share is listed on the OM Stockholm Exchange O-list. Gothenburg, November 1, 2000 Artimplant AB (publ) Anders Cedronius Chief Executive Officer This report has not been reviewed by Artimplant's auditors. Artimplant's annual report, interim reports and press releases are available at www.artimplant.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2000/11/01/20001101BIT00090/bit0001.doc http://www.bit.se/bitonline/2000/11/01/20001101BIT00090/bit0002.pdf |
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