Inify Laboratories AB — Earnings Release 2024

Apr 24, 2024

Inify Laboratories - More diagnoses delivered in the first quarter than in the whole of 2023

Inify Laboratories - More diagnoses delivered in the first quarter than in the whole of 2023

STOCKHOLM - April 24, 2024 - Inify Laboratories, a unique laboratory service

provider within pathology and cancer diagnostics, saw a 184% increase in sales

in Q1 2024, compared to the previous quarter.

"What we see now is the result of many years of preparation. More diagnoses were

delivered in the first quarter alone than in the whole of 2023. The company's

whole organization is ready for the significant increase in sales that we

foresee both this year, and the years to come," says CEO Fredrik Palm at Inify

Laboratories.

Inify is experiencing a great deal of interest from new customers, and expects

continued strong growth during the year. Dialogues with new customers include

both public and private healthcare providers, as structures for healthcare

delivery vary between regions in the country.

"The growth we see in the number of samples and turnover is clear acknowledgment

of the value we create and the trust we build with our customers," says Palm.

The market for diagnosis of prostate cancer will continue to grow. Long,

unpredictable response times and varying quality pose great challenges for most

countries, and the number of cases of prostate cancer globally is expected to

increase significantly by 2040.

"In parallel with our establishment in Sweden, our evaluation of selected

markets in Europe is ongoing. We primarily focus on countries that are initially

able to send patient samples to Sweden, which gives us a good basis for a

decision whether to establish laboratory operations in these countries," says

Palm.

Inify's success depends on having the best possible team. Therefore the company

continues to grow its organization, welcoming new colleagues in the first

quarter as well as those who will join later this year.

"Our team has been strengthened with employees in marketing, diagnostics,

customer support and laboratory expertise. This is fully in line with our plans

and means that we are well staffed for the growth we see ahead," says Palm.

For further information, please contact CEO, Fredrik Palm,

fredrik.palm@inify.com, or visit https://www.inify.com

The future of pathology

Inify Laboratories provides cancer diagnostics through ultramodern laboratory

services within pathology. It uses a fully digital, standardized and AI

-supported workflow to optimize quality and response times, initially within

prostate.The concept is scalable and can be extended to other diagnoses.

The service includes the whole chain of sample handling: from logistics, to

sample preparation, to reporting by a pathologist. The report is assisted by our

own AI, proven in clinical studies to have world-leading accuracy. The complete

workflow is supported by a tailor-made process control system.

The company, based in Sweden, became independent in 2022 through a spin-off

fromContextVision (https://www.contextvision.com/), with 40 years of experience

within digital imaging for medical applications. It is listed onEuronext Growth

Oslo under the ticker

INIFY (https://live.euronext.com/en/product/equities/SE0017486103-MERK).

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.