STOCKHOLM, Sweden, March 27, 2002 (PRIMEZONE) - Vitrolife (Stockholm:VITR.ST) has received CE approval to market a line extension to its viscoelastic ophthalmic product Ophthalin. The product represents a new concept in ophthalmic surgery and will improve the safety and efficacy of current surgical procedures.
Ophthalin has been used to facilitate intraocular surgery since 1995 and consists of high molecular weight sodium hyaluronate from Vitrolife's biotech plant in Edinburgh, Scotland. Vitrolife, together with its marketing partner Ciba Vision, have developed a kit containing two viscoelastic solutions, both incorporating an analgesic, for use at different stages in the surgical procedure.
The new kit consists of two solutions, one for topical application, which hydrates and lubricates the surface of the eye in preparation for intraocular surgery, and one for intracameral injection, which creates and maintains a deep chamber and space in which to work thereby minimizing the risk of mechanical damage to the ocular structures involved. An analgesic is included in both viscoelastics to improve patient comfort throughout the surgical procedure.
The worldwide ophthalmic viscoelastic market is valued at U.S. $250 M.
The new product will be marketed by Ciba Vision.
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 more than 90 employees and sells its products in more than 80 countries. During the latest five-year period, sales have steadily increased by and totaled more than SEK 100 million for the fiscal year 2001. www.vitrolife.com
The Vitrolife share is listed on the Stockholm Exchange (Stockholmsborsen) O-list under the ticker VITR.
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