GOTEBORG, Sweden, April 03, 2002 (PRIMEZONE) -- At the Annual General Meeting today, the ordinary members of the Board of Directors, Per Batelson, Lars Hamberger, Peter Svalander and Patrik Tigerschiold were re-elected and Claes Glassell and Mark Dumenil were elected new ordinary members of the Board. Claes Glassell is President and COO of Cambrex Corporation in New Jersey, USA and Mark Dumenil is the CEO of CMA Microdialysis AB in Solna, Sweden. Neither Claes Glassell nor Mark Dumenil have any board assignments apart from in the companies in which they are employed. The previous ordinary member of the Board of Directors, Mathias Uhlen, had declined re-election.
It was further resolved that no dividends shall be paid for the financial year 2001.
Goteborg April 3, 2002
Vitrolife AB (publ)
The Board of Directors
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 over 90 employees and sells its products in over 80 countries. During the latest five-year period, sales have steadily increased by and totalled more than SEK 100 million for the fiscal year 2001.
Vitrolife share listed on the Stockholm Exchange (Stockholmsborsen) O-list under the ticker VITR.
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