STOCKHOLM, Sweden, April 2, 2002 (PRIMEZONE) -- Vitrolife AB ("Vitrolife") has today been informed that Skanditek Industriforvaltning AB, Swedish Biotechnology AB och Invitro Research AB, together representing 43,6% of the votes of all shares in Vitrolife, at the Annual General Meeting to be held on April 3, 2002, will vote in favor for the number of members of the Board of Directors to be six, without deputies, re-election of the present ordinary members of the Board of Directors Per Batelson, Lars Hamberger, Peter Svalander and Patrik Tigerschiold, as well as election of Claes Glassell and Mark Dumenil as new ordinary members of the Board. The present ordinary member of the Board of Directors Mathias Uhlen has declined re-election.
Information about the proposed new board members:
Claes Glassell was born in 1951 and holds a M.S. in Chemical Engineering. He has worked as a Business Area Director (1989-1991) and as a Senior Vice President (1991-1994) with Nobel Industries AB. Furthermore, Claes Glassell has worked as President of Cambrex International (1994-2001) and, since 2001, is acting as President and COO of Cambrex Corporation.
Mark Dumenil was born in 1951 and is a charted accountant. He has worked as a Financial Controller at CR Bard Inc. (1986-1996) and as a Vice President Europe for the Ethicon Oncology business at Johnson and Johnson (1996-2001). Today, Mark Dumenil is the CEO of CMA Microdialysis AB in Solna.
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 totaled more than SEK 100 million for the fiscal year 2001.
The Vitrolife share is listed on the Stockholm Exchange (Stockholmsbosen) O-list under the ticker VITR.
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