Interim Report 1 January – 31 March 2022
  • Strong finish in the quarter despite a challenging start – new customer record and positive trend in April
  • Continued focus on UK market – Ideal Med appointed UK distributor
  • Progress on product development initiatives targeting US market

”Despite a challenging start to the quarter, improvements were identified late March and during April, and it will be interesting to see whether we can confirm this trend in the coming weeks and months. We did set a new record for number of customers during the quarter, with good margin, and the normalisation of business volumes, combined with the positive receipt from new and existing customers following the pandemic, confirms my view that the Episealer® technology is here to stay. We continue to operate with an ambitious global agenda, supported by excellent clinical results, targeting an unmet clinical need of significant size. In our world, that is a formula for progress and success”, says Pål Ryfors, CEO Episurf Medical.

First quarter 2022 compared to 2021, Group

  • Gross order intake amounted to SEK 1.7m (2.1)
  • Order book amounted to SEK 1.5m (1.8)
  • Group net sales amounted to SEK 1.6m (1.6)
  • Loss for the period amounted to SEK -16.4m (-16.7)
  • Earnings per share amounted to SEK -0.06 (-0.08)

Significant events during the first quarter

  • Episurf Medical received reimbursement coverage for Episealer® Talus in Belgium
  • Episurf Medical took the next step in the UK by the appointment of Ideal Med Ltd as agent
  • Prospective Episealer® Talus study was 50% recruited
  • Episurf Medical’s implants were approved for sale in Malaysia
  • First Episealer® Talus surgery was planned in Norway

Significant events after the first quarter

  • Episurf Medical submitted follow-up 510(k) application for Episealer® Patellofemoral System that is now under substantive review at the US FDA
  • Prospective investigator-initiated study for 2 years’ follow-up of Episealer® Talus patient initiated
  • First Episealer® surgery was planned in Saudi Arabia and Belgium

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 was submitted for publication, through the agency of the contact person set out above, at 08:30 CEST on 29 April 2022.

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    [HtmlCompanyInformation:protected] => <p style="font-family:arial,helvetica,sans-serif; font-size:10pt"><strong><span style="font-size:10pt">About Episurf Medical</span></strong></p>
<p style="font-family:arial,helvetica,sans-serif; font-size:10pt"><em>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.</em></p>
<p style="font-family:arial,helvetica,sans-serif; font-size:10pt"><span style="font-family:arial,helvetica,sans-serif; font-size:10pt"><em>This information was submitted for publication, through the agency of the contact person set out above, at 08:30 CEST on 29 April 2022.</em></span></p>
    [HtmlContact:protected] => <p><strong><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">For more information, please contact:</span></span></span></strong></p>
<p><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt"><span><span style="font-family:arial,helvetica,sans-serif">Pål Ryfors, CEO, Episurf Medical</span></span></span><br>
Tel:<span style="font-size:10pt">+46 (0) 709 62 36 69</span><br>
<span style="font-size:10pt">Email:&nbsp;</span><a href="mailto:pal.ryfors@episurf.com">pal.ryfors@episurf.com</a></span></span></span></p>
<p><span><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Veronica Wallin, CFO, Episurf Medical</span></span></span></span><br>
<span><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Tel:</span></span></span></span><span><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">+46 (0) 700 37 48 95</span></span></span></span><br>
<span style="font-size:10pt"><span><span style="font-family:arial,helvetica,sans-serif">Email:&nbsp;</span></span></span><a href="mailto:pal.ryfors@episurf.com"><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">veronica.wallin@episurf.com</span></span></span></a></p>
    [HtmlTitle:protected] => <h1 style="line-height:120%"><span style="font-family:arial,helvetica,sans-serif"><strong>Interim Report 1 January &ndash; 31 March </strong></span>2022</h1>
    [HtmlHeader:protected] => 
    [HtmlIntro:protected] => 
    [Body:protected] => 
  · Strong finish in the quarter despite a challenging start – new customer record and positive trend in April
  · Continued focus on UK market – Ideal Med appointed UK distributor
  · Progress on product development initiatives targeting US market
”Despite a challenging start to the quarter, improvements were identified late March and during April, and it will be interesting to see whether we can confirm this trend in the coming weeks and months. We did set a new record for number of customers during the quarter, with good margin, and the normalisation of business volumes, combined with the positive receipt from new and existing customers following the pandemic, confirms my view that the Episealer® technology is here to stay. We continue to operate with an ambitious global agenda, supported by excellent clinical results, targeting an unmet clinical need of significant size. In our world, that is a formula for progress and success”, says Pål Ryfors, CEO Episurf Medical.
First quarter 2022 compared to 2021, Group
  · Gross order intake amounted to SEK 1.7m (2.1)
  · Order book amounted to SEK 1.5m (1.8)
  · Group net sales amounted to SEK 1.6m (1.6)
  · Loss for the period amounted to SEK -16.4m (-16.7)
  · Earnings per share amounted to SEK -0.06 (-0.08)
Significant events during the first quarter
  · Episurf Medical received reimbursement coverage for Episealer® Talus in Belgium
  · Episurf Medical took the next step in the UK by the appointment of Ideal Med Ltd as agent
  · Prospective Episealer® Talus study was 50% recruited
  · Episurf Medical’s implants were approved for sale in Malaysia
  · First Episealer® Talus surgery was planned in Norway
Significant events after the first quarter
  · Episurf Medical submitted follow-up 510(k) application for Episealer® Patellofemoral System that is now under substantive review at the US FDA
  · Prospective investigator-initiated study for 2 years’ follow-up of Episealer® Talus patient initiated
  · First Episealer® surgery was planned in Saudi Arabia and Belgium
    [HtmlBody:protected] => <ul>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;Times New Roman&quot;, serif;"><span><span style="font-size:12pt"><span style="font-family:times new roman,times"><strong><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Strong finish in the quarter despite a challenging start – new customer record and positive trend in April</span></span></strong></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;Times New Roman&quot;, serif;"><span><span style="font-size:12pt"><span style="font-family:times new roman,times"><strong><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Continued focus on UK market – Ideal Med appointed UK distributor</span></span></strong></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;Times New Roman&quot;, serif;"><span><span style="font-size:12pt"><span style="font-family:times new roman,times"><strong><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Progress on product development initiatives targeting US market</span></span></strong></span></span></span></li>
</ul>
<p style="margin-bottom:11px;margin-top:12px"><span><span style="font-size:11pt"><span><span style="font-family:arial,helvetica,sans-serif"><em><span style="font-size:10pt"><span>”</span></span></em><em><span style="font-size:10pt"><span>Despite a challenging start to the quarter, improvements were identified late March and during April, and it will be interesting to see whether we can confirm this trend in the coming weeks and months. We did set a new record for number of customers during the quarter, with good margin, and the normalisation of business volumes, combined with the positive receipt from new and existing customers following the pandemic, confirms my view that the Episealer® technology is here to stay. We continue to operate with an ambitious global agenda, supported by excellent clinical results, targeting an unmet clinical need of significant size. In our world, that is a formula for progress and success</span></span></em><em><span style="font-size:10pt"><span>”</span></span></em><span style="font-size:10pt"><span>, says Pål Ryfors, CEO Episurf Medical. </span></span></span></span></span></span></p>
<p style="margin-bottom:11px"><span><span style="page:WordSection1"><span><span style="font-family:arial,helvetica,sans-serif"><strong><span style="font-size:10pt"><span><span style="color:#375f74">First quarter 2022 compared to 2021, Group </span></span></span></strong></span></span></span></span></p>
<ul>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Gross order intake amounted to SEK 1.7m (2.1)</span></span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Order book amounted to SEK 1.5m (1.8)</span></span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Group net sales amounted to SEK 1.6m (1.6)</span></span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Loss for the period amounted to SEK -16.4m (-16.7) </span></span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Earnings per share amounted to SEK -0.06 (-0.08)</span></span></span></span></span></li>
</ul>
<p style="margin-bottom:11px"><span><span style="font-size:11pt"><span><span style="font-family:arial,helvetica,sans-serif"><strong><span style="font-size:10pt"><span><span style="color:#375f74">Significant events during the first quarter</span></span></span></strong> </span></span></span></span></p>
<ul>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Episurf Medical received reimbursement coverage for Episealer® Talus in Belgium</span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Episurf Medical took the next step in the UK by the appointment of Ideal Med Ltd as agent </span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Prospective Episealer® Talus study was 50% recruited</span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Episurf Medical’s implants were approved for sale in Malaysia</span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">First Episealer® Talus surgery was planned in Norway</span></span></span></span></li>
</ul>
<p style="margin-bottom:11px"><span><span><span style="font-family:arial,helvetica,sans-serif"><strong><span style="font-size:10pt"><span><span style="color:#375f74">Significant events after the first quarter</span></span></span></strong></span></span></span></p>
<ul>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Episurf Medical submitted follow-up 510(k) application for Episealer® Patellofemoral System that is now under substantive review at the US FDA</span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Prospective investigator-initiated study for 2 years’ follow-up of Episealer® Talus patient initiated</span></span></span></span></li>
	<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:10pt"><span><span style="font-family:arial,helvetica,sans-serif">First Episealer® surgery was planned in Saudi Arabia and Belgium</span></span></span></span></li>
</ul>
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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 was submitted for publication, through the agency of the contact person set out above, at 08:30 CEST on 29 April 2022.
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Email: pal.ryfors@episurf.com
Veronica Wallin, CFO, Episurf Medical
Tel:+46 (0) 700 37 48 95
Email: veronica.wallin@episurf.com (pal.ryfors@episurf.com)
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