Vitrolife's interim report, january - september 2001

2001-10-24 - 15:23

VITROLIFE'S INTERIM REPORT, JANUARY - SEPTEMBER 2001 · Agreement signed with Millenium Biologixs Inc. in Ontario, Canada, concerning the development and testing of Vitrolife´s proprietary culture media for human tissue engineering, particularly cartilage and bone. · Acquisition of 10,7 % in Cell Therapeutics Scandinavia AB in Göteborg, a company with core competence in stem cell-based biotechnology and the development of embryonic stem cell lines. · Successful launch of Perfadex® for lung transplantation in southern Europe. · Business area Fertility Systems show strong growth in Asia. · Biocompatible study for cross-linked hyaluronic acid successfully completed. · Production facility project in Denver, Colorado, USA runs according to plan. · The operating result during the period amounted to -36,2 MSEK (- 16,8 MSEK) equivalent to an operating margin of -52,4 % (-27,6 %). · Net sales amounted to 69,1 MSEK (61,0 MSEK) equivalent to an increase of 13,2 % (39,4 %). See attached interim report in Swedish with financial data in English. Göteborg 24th of October 2001 Vitrolife AB (publ) For further information, please contact: Vitrolife: President and CEO Dr. Peter Svalander, tel +46-31-721 80 01 CFO Stefan Jacobsson, tel +46-31-721 80 10 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 intends to further expand 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/2001/10/24/20011024BIT00990/bit0001.doc http://www.waymaker.net/bitonline/2001/10/24/20011024BIT00990/bit0001.pdf The full report in Swedish