Biopharmaceuticals Orthopaedic

 News Release - February 13, 2008

Anika Therapeutics Launches ORTHOVISC(R) mini in Europe

Company Initiates Clinical Study of ORTHOVISC mini in Three EU Countries

BEDFORD, Mass.--(HSMN NewsFeed)--Anika Therapeutics, Inc. (Nasdaq: ANIK ) today announced that it has launched ORTHOVISC® mini in the European Union. ORTHOVISC mini is a smaller dosage indication of ORTHOVISC®, which has been marketed in Europe since 1996 and is used mainly for treatment of osteoarthritis of the knee. The Company is also initiating a post-approval clinical study of ORTHOVISC mini to gain additional clinical experience with regional opinion leaders who specialize in the treatment of osteoarthritis in small joints.

“The launch of ORTHOVISC mini is a key milestone in our goal to enhance our joint health franchise by broadening the opportunities for our existing product line,” said Charles H. Sherwood, Ph.D., Anika’s president and chief executive officer. “We will utilize our existing European ORTHOVISC distribution network for this new product, and anticipate filling initial orders before the end of the first quarter.”

The multi-center clinical study with ORTHOVISC mini will target the carpometacarpal (CMC) joint at the base of the thumb. Anika has previously studied the use of ORTHOVISC in other small joints such as the ankle and temporomandibular joint (TMJ).

For more information, please visit our website at www.orthoviscmini.com.

About Anika Therapeutics, Inc.

Headquartered in Bedford, Mass., Anika Therapeutics, Inc. develops, manufactures and commercializes therapeutic products for tissue protection, healing and repair. These products are based on hyaluronic acid (HA), a naturally occurring, biocompatible polymer found throughout the body. Anika’s products include ORTHOVISC®, a treatment for osteoarthritis of the knee available internationally and marketed in the U.S. by DePuy Mitek; HYVISC®, a treatment for equine osteoarthritis marketed in the U.S. by Boehringer Ingelheim Vetmedica, Inc.; the ELEVESS™ family of aesthetic dermatology products for facial wrinkles, scar remediation and lip augmentation; AMVISC®, AMVISC® Plus, STAARVISC™-II and Shellgel™ injectable viscoelastic HA products for ophthalmic surgery; INCERT®, an HA-based anti-adhesive for surgical applications; and next generation products for joint health and aesthetic dermatology based on the Company’s proprietary, chemically modified HA.

The statements made in this press release which are not statements of historical fact are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements that may be identified by words such as "expects," "initiating," "anticipate," "intended," "opportunities," "will," "target," and other expressions which are predictions of or indicate future events and trends and which do not constitute historical matters identify forward-looking statements. These statements also include: (i) the Company's expectations concerning its ORTHOVISC mini product, (ii) statements concerning the clinical study of ORTHOVISC mini, and (iii) the Company’s expectation that it will begin filling initial orders for the product in Europe before the end of the first quarter. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks, uncertainties and other factors. The Company's actual results could differ materially from any anticipated future results, performance or achievements described in the forward-looking statements as a result of a number of factors. These factors include the risk that (i) the Company's existing distributors or customers will not place orders for ORHTOVISC mini, (ii) the Company's efforts to enter into long-term marketing and distribution arrangements, including with new international distributors for ORTHOVISC mini, will not be successful, (iii) new distribution arrangements will not result in meaningful sales of the Company's products, (iv) competitive products will adversely impact the Company's product sales, or (v) the estimated size(s) of the markets which the Company has targeted its products will fail to be achieved, could have a material adverse effect on our results of operations, any of which may have a material adverse effect on the Company's business and operations. Certain other factors that might cause the Company's actual results to differ materially from those in the forward-looking statements include those set forth under the headings "Business," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in each of the Company's Annual Report on Form 10-K for the year ended December 31, 2006 and on Form 10-Q for the periods ended March 31, June 30, and September 30, 2007, as well as those described in the Company's other press releases and SEC filings.

Source: Anika Therapeutics

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