Inify Laboratories AB — Earnings Release 2023

Feb 29, 2024

Foresees a noticeable increase of customers, volume, and sales in 2024

Foresees a noticeable increase of customers, volume, and sales in 2024

STOCKHOLM - February 29, 2024 - Inify Laboratories, a unique laboratory service

provider within pathology and cancer diagnostics, saw important pieces fall into

place during the fourth quarter, the foremost being our attainment of

accreditation as a medical laboratory. This paved the way for making Inify's

diagnostic service fully available to both private and public healthcare

providers, resulting in a sales growth of 176% compared to the third quarter.

"I dare to claim that our operations are unique - in Sweden, and

internationally. Our ambition is to stay at the forefront in terms of response

times, quality and user-friendliness, for both customers and employees," says

CEO Fredrik Palm at Inify Laboratories. "I've said it before - we're just

getting started."

In general, the healthcare sector struggles with high workload, long waiting

times and inconsistent quality - challenges that certainly apply to prostate

cancer diagnostics. Swedish guidelines state that a patient should receive their

test results within 11 days from sampling; however, for many years, this has

only been achieved with a small percentage of patients.

"All of Inify's diagnoses have been delivered within our promised response time

of 5 days, shortening the patient's wait for a diagnosis by several weeks," says

Palm.

Inify's first laboratory in Solna, near Karolinska Institute, has the capacity

to provide diagnostic services for all prostate cancer cases in Sweden, as well

as for healthcare providers abroad.

"The interaction between artificial intelligence, streamlined processes,

dedicated employees, and enthusiastic customers has initiated a paradigm shift

in prostate cancer diagnostics - to the benefit of many patients so far, and

many more to come," says Sales & Marketing Manager Maria Holmberg at Inify

Laboratories.

"Success in our domestic market in Sweden will be followed by international

establishments, where we continue to map the market, focusing on Europe. We

foresee a noticeable increase in the number of customers, volume, and sales in

2024," says CEO Fredrik Palm at Inify Laboratories.

For further information, please contact CEO, Fredrik Palm,

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

About Inify Laboratories

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 from either Inify Laboratories

or the customer's organization. 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 from

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

within digital imaging for medical applications. It is listed on Euronext 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.