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| Mainpage / News Archive / news2005 / Lord Sainbury opens Inion European Technical Center (ETC) |
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Lord Sainsbury, Minister for Science and Innovation, Opens Inion European Technical Centre (ETC)ETC to focus on research into bioactive and biodegradable materials platform Tampere, Finland and Cambridge, UK. 11th November 2005…Inion [LSE: IIN.L], a rapidly growing company focused on the development of novel biodegradable medical implants, today announces the opening of its European Technical Centre (ETC) in Cambridge. The ETC will focus on research and development of Inion’s next-generation biomaterials that incorporate bioactivity into its Inion Optima™ range of materials in order to produce biodegradable implants that stimulate bone growth and accelerate the healing process. Lord Sainsbury of Turville, Parliamentary Under-Secretary of State for Science and Innovation, will conduct the opening ceremony, which takes place this morning at 11.15 at The Trinity Centre on the Cambridge Science Park. Inion ETC will be headed by Professor Franz Weber who is Head of Research at the Clinic for Cranio-maxillofacial Surgery at the University Hospital, Zurich. Prof. Weber has been working with Inion for several years and is responsible for significant research that led to the development of Inion Optima PLUS™. He has an international reputation in the fields of cranio-maxillofacial and dental surgery. In addition to Prof. Weber, Inion has recruited six scientists that between them have more than 50 years experience in relevant scientific areas. Initial research at Inion’s ETC will look to build on its recently patented Inion Optima PLUS™ platform, which incorporates the small molecule NMP (N-methyl-pyrollidone) into existing Inion Optima™ biomaterials to increase bone growth rates. NMP is currently used, typically as a solvent, in a number of pharmaceuticals marketed in the USA with the appropriate FDA clearance. In parallel, the ETC will work to identify other small molecule compounds that exhibit bone and tissue growth potential for incorporation into its biomaterials for future development as medical implants and devices targeting a broad range of clinical applications. Inion expects to spend €15-20m over the next 3-4 years on the research and development of its bioactive and biodegradable platform technology. Research in this area is also being conducted at Inion’s other research laboratories in Finland and at The Cambridge Centre for Medical Materials at the University of Cambridge Department of Materials Science & Metallurgy, with which Inion signed a collaboration agreement earlier this week. Commenting on the opening Lord Sainsbury stated: “Our aim is to make the UK one of the best places in the world for science and innovation. “I am delighted that Inion has chosen to invest in Cambridge, where they will boost an already world-class bioscience cluster. “Inion's innovative implant technology should bring great benefits to patients and clinicians and to the UK's highly successful bioscience sector, which has annual revenues of £3.5bn.” Auvo Kaikkonen, CEO of Inion commented: “Inion scientists have pioneered the development of biodegradable medical implants and we are seeing both an increasing acceptance of the technology by surgeons and an increasing demand by patients for implants that do not remain within the body once their job is done. As a highly innovative company, we are actively pursuing research and collaborations that will lead to new bioactive materials that enhance the performance of our existing products, reducing healing times and reducing overall costs for providers of healthcare around the world. Our new European Technical Centre and the recent collaboration with the world-leading group at the University of Cambridge exemplify our commitment to the development of next-generation products.” -Ends- For further information, please contact: Inion Oy Dr Auvo Kaikkonen, Chief Executive Officer Citigate Dewe Rogerson The Inion core expertise and technology lies in the design and manufacture of innovative biodegradable plates, screws, pins and membranes that are used to enhance the healing of skeletal injuries (bone and soft tissue), such as those caused by trauma or by reconstructive surgery. Inion implants are made from its proprietary Inion Optima™ family of biomaterials, with properties tailored for specific surgical applications, in terms of strength, flexibility and rate of degradation. Inion has developed and launched products in four strategic business areas – cranio-maxillofacial surgery, orthopaedic trauma, sports medicine and dental surgery – in more than 40 countries worldwide. In addition, the Company has recently received a CE Mark for its first biodegradable product in the significant spinal implant area. Inion was incorporated in early 2000 by an international team of experts in biodegradable materials and their clinical applications, and listed on the Official List of the UK Listing Authority in December 2004. The Company’s has operations in the UK, R&D and production facilities in Tampere, Finland, and a US office in Oklahoma City, OK. This announcement includes "forward-looking statements" which include all statements other than statements of historical facts, including, without limitation, those regarding the Group's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Group's products), and any statements preceded by, followed by or that include forward-looking terminology such as the words "targets", "believes", "estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", "would", "should", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Group's control that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. Among the important factors that could cause the Group's actual results, performance or achievements to differ materially from those in forward-looking statements include those relating to Inion’s funding requirements, regulatory approvals, reliance on third parties, intellectual property, key personnel and other factors. These forward-looking statements speak only as at the date of this announcement. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statement.
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