INTERIM REPORT 1 JULY– 30 SEPTEMBER 2019

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INTERIM REPORT 1 JULY– 30 SEPTEMBER 2019

We are concluding yet another exciting quarter during which we delivered strong growth in our key European regions, and we added a third commercial leg to our product portfolio. Clinical results were accepted for presentation at several clinical congresses, and we made good progress in the US with our US clinical trial. We also continued to strengthen our IP position during the quarter, which is of utmost importance for us.

Our gross order intake grew by 93% in Q3 2019, a strong growth rate. Germany continues to be the market with the most substantial contribution, representing about 80% of the Episealer® orders in the quarter.” says Pål Ryfors, CEO Episurf Medical.   

Third quarter 2019 compared to 2018, Group

  • Gross order intake amounted to SEK 1.4m (0.7) an increase of 93%
  • Order backlog amounted to SEK 1.5m (0.6)
  • 60% increase in orders for Episealer® knee implants during the quarter with 56 (35) approved orders
  • Group net sales Increased by 13% to SEK 1.1m (1.0)
  • Loss for the period amounted to SEK -17.5m (-12.9), the increased costs during the quarter are due to the group’s work on the IDE study in the US
  • Earnings per share amounted to SEK -0.19 (-0.42)

First nine months 2019, compared to first nine months 2018, Group

  • Gross order intake amounted to SEK 4.0m (2.7) an increase of 51%
  • 23% increase in orders for Episealer® knee implants during the first nine months with 139 (113) approved orders
  • Group net sales Increased by 20% to SEK 3.6m (2.9)
  • Loss for the period amounted to SEK -51.1m (-42.5), the increased costs during the first nine months are due to the group’s work on the IDE study in the US
  • Earnings per share amounted to SEK -0.86 (-1.23)

Significant events during the third quarter

  • Episurf Medical entered into its first strategic partnership regarding its AI-based imaging technology
  • Episealer® knee implant were approved for sale in Italy
  • Episurf Medical reached milestone of 600 implants
  • Clinical data for Episealer® were accepted for podium presentation at European scientific congress
  • Clinical data for Episealer® were accepted for podium presentation at German scientific congress
  • Clinical data for Episealer® were accepted for presentation at two German scientific congresses
  • European, US and Canadian patent approvals for Episurf Medical

Significant events after the third quarter

  • Dr. Kevin D. Plancher was appointed Lead Investigator for Episurf’s Episealer® IDE study
  • US, European and UK patent approvals for Episurf Medical

For more  information, please contact:

Pål Ryfors, CEO, Episurf Medical
Tel:+46 (0) 709 62 36 69
Email: pal.ryfors@episurf.com

Veronica Wallin, CFO, Episurf Medical
Tel:+46 (0) 700 37 48 95
Email: veronica.wallin@episurf.com

About Episurf Medical

Episurf Medical is endeavoring to bring people with painful joint injuries a more active, healthier life through the availability of minimally invasive and individualised treatment alternatives. Episurf Medical’s Episealer® individualised implants and Epiguide® surgical drill guides are developed for treating localised cartilage injury in joints. Episurf Medical’s μiFidelity® system enables implants to be cost-efficiently tailored to each individual’s unique injury for the optimal fit and minimal intervention. Episurf Medical’s head office is in Stockholm, Sweden. Its share (EPIS B) is listed on Nasdaq Stockholm. For more information, go to the company’s website: www.episurf.com.

This information is information that Episurf Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CEST on 25 October 2019.