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 

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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.