Inion announces the departure of its Chief Financial Officer

Tampere, Finland and Takeley, UK. 31 March 2006…Inion [LSE: IIN.L], a company focused on the development of novel biodegradable medical implants, today announces the departure of Mr Jari Kortesluoma, its Chief Financial Officer and Director.

 Mr Kortesluoma has taken the decision to pursue other business interests but will remain as a consultant to Inion until a new full-time appointment is made. A search for a new CFO has already started.

 Dr Auvo Kaikkonen, CEO of Inion commented, “We are sorry to see Jari go. He has been with Inion for a number of years and played a crucial role in our IPO on the London Stock Exchange at the end of 2004. On behalf of the executive management team and the board of directors, I would like to wish Jari well for his future endeavours.”

 -Ends-

 For further information, please contact:

 Inion Oy    

Dr Auvo Kaikkonen, Chief Executive Officer

 Tel: +358 3 230 6600

 Citigate Dewe Rogerson

Mark Swallow / Helena Podd

 Tel: +44 (0)207 638 9571