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Interim report January –...

Interim report January – June 2013

US study has full number of patients and good clinical results presented for patients outside the USA

SIGNIFICANT EVENTS IN THE SECOND QUARTER

• All the planned 42 + 42 patients have now been included in the clinical study of STEEN Solution™ in the USA and the clinical results are very promising.

• At the ISHLT conference in April, three leading clinics outside the USA (Toronto, Paris and Europe’s largest lung transplant clinic in Vienna) presented very good clinical data for 112 patients using XVIVO Perfusion’s product STEEN Solution™. The results show that by using STEEN Solution™ the clinics were able to save many lungs that had initially been assessed as unusable. The lungs were transplanted into patients in need, and the results were at least as good as for lungs initially deemed acceptable.

• During the quarter, the company submitted its response to the FDA’s supplementary questions regarding the application for marketing approval of STEEN Solution™ on the US market. The FDA is expected to notify its decision in the third quarter.

• At the end of June a total of 47 patients in the USA had been transplanted with lungs made available through the use of Steen Solution™ and XVIVO’s perfusion machine XPS™.

FIRST HALF (JAN-JUN 2013)

• Sales increased by 21 percent in local currency. Sales amounted to SEK 32.1 (27.8*) million, corresponding to an increase of 15 percent in SEK.

• Operating income before depreciation and amortization (EBITDA) amounted to SEK 6.1 (9.2*) million, corresponding to an EBITDA margin of 19 percent.

• Net income amounted to SEK 4.1 million, resulting in earnings per share of SEK 0.21.

• Cash flow from operating activities was SEK 7.9 million.

SECOND QUARTER (APR – JUN 2013)

• Sales increased by 18 percent in local currency. Sales amounted to SEK 15.8 (14.0*) million, corresponding to an increase of 12 percent in SEK.

• Operating income before depreciation and amortization (EBITDA) amounted to SEK 2.4 (4.2*) million, corresponding to an EBITDA margin of 15 percent.

• Net income amounted to SEK 1.7 million, resulting in earnings per share of SEK 0.09.

• Cash flow from operating activities was SEK 3.9 million.

CONFERENCE CALL

CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Thursday, July 11, 2013.
Telephone: +46 8 50336434 or +44 (0)20 1452 555566, enter code 98290392

* Comparative figures for 2012 are Vitrolife’s Transplantation segment such as it was reported in Vitrolife’s reporting

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