Inify Laboratories AB — Regulatory Filings 2022

Aug 17, 2022

Inify's first ultramodern laboratory on track

Inify's first ultramodern laboratory on track

STOCKHOLM - August 17 2022 - Inify Laboratories, a company providing fully

digitalized pathology laboratory services for cancer diagnostics, listed in June

2022 on the Euronext Growth in Oslo, is on track in building its first

ultramodern laboratory at Campus Solna, Sweden, next to world-leading

healthcare.

"We signed a five-year leasing contract for our office and laboratory facilities

at Campus Solna. These will be Inify's headquarters, housing our first

laboratory as well as our Center of Excellence," says CEO Fredrik Palm at Inify.

The company expects to move into the new facility during the fourth quarter of

2022 and to immediately commence installation of systems and equipment, followed

by accreditation. The laboratory will begin production of prostate cancer

diagnoses according to plan - sometime during the first half of 2023.

Specially designed IT system

In parallel, Inify continues to develop and integrate a specially designed IT

system and process, built to support a fully digital, standardized workflow and

reporting system.

"This will enable us to provide rapid and predictable response times, while

ensuring the highest possible diagnostic quality by combining our high

-performing AI solution with the expertise of certified pathologists," says

Palm.

The company currently has 16 employees, supported by specialized consultants for

certain tasks. In addition to a commercial team focused on mapping the potential

customer base, the company is staffed with advanced technical, laboratory and

medical competence; all have extensive expertise, both within their niche as

well as in the pathology domain.

"Our new Chief Medical Officer, Dr. Claes Lindh, who is both a Doctor in

Medicine and has a Ph.D. in prostate cancer pathology from Karolinska Institute,

will join us in September. Dr. Lindh will be instrumental in the diagnostic

parts of the operations, as well as our medical strategy going forward," says

Palm.

Funding

The Company raised NOK 150 million in a private placement during the second

quarter, securing funding until proof-of-concept stage.

"The placement drew great interest, and we see the trading activities that took

place immediately after listing as clear proof of interest for the company among

investors, despite the present geo-political situation hitting the markets

hard," says Palm.

For further information, please contact CEO, Fredrik Palm,

fredrik.palm@inify.com, or visit www.inify.com.

About Inify Laboratories

Inify Laboratories provides cancer diagnostics through ultra-modern laboratory

services within histopathology. Fully digital, standardized and AI- supported

workflow is applied to optimize quality and response times, initially for

prostate cancer. The concept is scalable and extendible to other diagnosis. The

company origins from ContextVision and became independent in February 2022.

The company, based in Sweden, is listed on Euronext Growth Oslo under the ticker

INIFY.

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

-12 of the Norwegian Securities Trading Act.