STOCKHOLM, Sweden, May 05, 2003 (PRIMEZONE) -- Biolight International AB (publ) (Other OTC:BLGIF):
Sales during the first quarter amounted to SEK 457 T (513).
The clinical acceptance within the wound care area has been further strengthened. The geriatric clinic at Ostra Sjukhuset, Goteborg, has purchased Biolight(R) for their treatment of chronic wounds.
Company focus in 2003
This year, the company will focus its resources on continuing to establish Biolight(R) Wound Care in Sweden, and Biolight(R) Dental Care in Sweden, Germany and Italy.
Sales - Q1:2003
Sales during the first quarter amounted to SEK 457 T (513). The company has sold equipment within the business areas Dental Care and Wound Care.
Financing
The company is currently working on a new share issue to secure financing of continued activities in the market segments we are focusing on.
Biolight(R) Wound Care
The company continues to carry out marketing activities in the Swedish wound care market, using its own resources. The reception has been very good and several clinics throughout Sweden are currently evaluating the method.
As the result of an evaluation, started during the fourth quarter 2002, the geriatric clinic (for treatment of elderly people) at the Ostra Sjukhuset hospital in Goteborg has decided to buy Biolight(R) for their treatment of chronic wounds.
"We have registered positive effects on the wounds we have treated with Biolight(R). They heal quicker than through traditional treatment alone," says Michaela Holmdahl, chief physician of the geriatric clinic at Ostra Sjukhuset.
The home medical care service in western Goteborg, and MEDiHEM's home for elderly people in Stockholm, Hemmet for Gamla, have already purchased Biolight(R).
Publication of ulcer study
In 1998-2001, Biolight carried out two phase III trials on pressure ulcers. A meta-analysis, carried out on the material from the two studies, indicated that healing of grade II pressure ulcers was greatly accelerated in comparison with traditional treatment alone. The result was conclusive, i.e. statistically significant. This has already been reported to our shareholders.
These studies are now to be published. The first phase III study will be published in the magazine Aging, Clinical and Experimental Research later this year. The study is called "Monochromatic Phototherapy in Patients with Chronic Pressure Ulcers" and was carried out at 8 clinics in Sweden and Denmark. Responsible for the study is professor Ove Dehlin from the Department of Geriatric Community Medicine, Malmo General Hospital, Sweden.
Ove Dehlin has made the following statement in connection with the publication: "The results of this study are positive. The effect mechanism is not altogether determined, but -- according to earlier studies -- Biolight(R) seems to stimulate the cells of the connective tissue, which explains why healing is accelerated. Consequently, Biolight(R) is a good supplement to traditional wound treatment."
Professor Dehlin also intends to send in an article for publication, as soon as possible, covering the second phase III study and the meta-analysis.
Biolight(R) Dental Care
Our cooperation with DAB in the Swedish market has worked very well. Several important contacts have been made and the response has been positive. Efforts to establish a new distributor in the German market proceed according to plan. At the same time, work is underway to increase the number of users, primarily in Hamburg and Munich. After their first quarter training, Espansione will start their operations in the Italian market in the second quarter.
Withdrawal of A-share listing
Due to limited trade on the NGM Equity exchange, the company's board has decided to withdraw the A share as of June 1, 2003. The last day of trading will be May 30.
Accounting principles
This quarterly report has been prepared in accordance with recommendation RR 20 Interim reports of the Swedish Financial Accounting Standards Council. Car costs will be reported as other external costs. The comparative figures have been modified accordingly. Elsewhere, the same principles and valuations as were used in the annual report for 2002 have been applied.
Result, cash flow and liquidity
Sales during the first quarter amounted to SEK 457 T (513). Operating expenses during the first quarter amounted to SEK 4,911 T (6,883). The result of the period showed a loss of SEK -4,614 T (-8,007).
Investments during the first quarter amounted to SEK 236 T (64).
Liquid assets as of March 31, 2003, amounted to SEK 3,489 T (22,064). As of December 31, 2002, liquid assets amounted to SEK 7,426 T.
This quarterly report has not been subject to audit by the company's auditors.
Future reports
Semi-annual report 2003 August 22, 2003 Quarterly report for the 3rd quarter, 2003 October 27, 2003
Biolight International AB is a medical technology company with products based on the biological effects of pulsating, monochromatic light. Biolight develops a system for effective, painless and safe treatment, especially of chronic wounds and inflammatory conditions. The Biolight share is listed on the NGM Equity (Nordic Growth Market NGM AB).
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