Pre-Close Period Trading Update

Tampere, Finland and Takeley, UK. 23rd January 2006…Inion (LSE: IIN.L) (“Inion” or the “Company”), a company focused on the development of novel biodegradable medical implants, today provides a pre-close period update on trading ahead of its preliminary results announcement in March 2006.

Based on the un-audited sales figures for the year to 31^st December 2005, Inion’s Directors anticipate that revenues for 2005 will be around €7.5 million, approximately 10% higher than those achieved in 2004 (€6.8 million) and in line with current market expectations.

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For further information, please contact:

Inion Oy

Dr Auvo Kaikkonen, Chief Executive Officer Tel: +358 3 230 6600

Tim Hirst, Corporate Communications Tel: +44 (0)1279 874 222

Citigate Dewe Rogerson

David Dible / Mark Swallow / Helena Podd Tel: +44 (0)207 638 9571

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