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Anika Therapeutics Receives CE Mark for its REDEFYNE(TM) Cosmetic Tissue Augmentation Product

Designation Allows for Product to be Marketed in the European Union

(press release from Anika Therapeutics, Inc.)

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WOBURN, Mass., Feb. 16 -- Anika Therapeutics, Inc. (Nasdaq: ANIK) today announced that it has received CE Mark approval to market its cosmetic tissue augmentation product, REDEFYNE(TM), in the European Union. REDEFYNE is an injectable soft tissue filler for facial wrinkles, scar remediation and lip augmentation. The product is based on Anika's chemically modified hyaluronic acid (HA) proprietary technology and incorporates lidocaine, a local anesthetic.

"Receiving approval to market our cosmetic tissue augmentation product in the European Union is a milestone achievement in our commercialization efforts," said Charles H. Sherwood, Ph.D., Anika's president and chief executive officer. "As previously announced, we filed a pre-market approval application (PMA) in September 2005, which is currently under review with the U.S. Food and Drug Administration. We are also actively seeking a partner to commercialize REDEFYNE worldwide."

About Anika Therapeutics, Inc.
Headquartered in Woburn, Mass., Anika Therapeutics, Inc. (www.anikatherapeutics.com) develops, manufactures and commercializes therapeutic products and devices intended to promote the repair, protection and healing of bone, cartilage and soft tissue. These products are based on hyaluronic acid (HA), a naturally occurring, biocompatible polymer found throughout the body. Anika products include OrthoVisc(R), a treatment for osteoarthritis of the knee available internationally and marketed in the U.S. by DePuy Mitek, and Hyvisc(R), a treatment for equine osteoarthritis marketed in the U.S. by Boehringer Ingelheim Vetmedica, Inc. Anika manufactures Amvisc(TM) and Amvisc Plus(TM), HA viscoelastic products for ophthalmic surgery. It also produces STAARVISC(TM)-II, which is distributed by STAAR Surgical Company and Shellgel(TM) for Cytosol Ophthalmics, Inc.

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 "expectations," "remains," "focus," "expected," "prospective," "expanding," "building," "continue," "progress," "efforts," "hope," "believe," "objectives," "opportunities," "will," "seek," 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 statements regarding the Company's goal of obtaining FDA approval for REDEFYNE, and its commercialization plans for REDEFYNE. 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 including the Company's ability to successfully commence and/or complete clinical trials of its products on a timely basis or at all, obtain clinical data to support a pre-market approval application and/or FDA approval, receive FDA or other regulatory approvals of its products, or that such approvals will not be obtained in a timely manner or without the need for additional clinical trials. Even if regulatory approvals are obtained, there is a risk that the Company may fail to establish or maintain relationships with marketing partners, that such relationships may be on terms that are unfavorable to the Company or that meaningful sales of the products may not be achieved. 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 Certain Factors Affecting Future Operating Results" 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, 2004, its Quarterly Report on Form 10-Q for the quarter ended September 30, 2005, and Current Reports on Form 8-K, as well as those described in the Company's other press releases and SEC filings. The Company expressly disclaims any current intention or obligation to update any forward-looking statement in this press release to reflect future events or changes in facts affecting the forward- looking statements contained in this press release.

Contacts:
Anika Therapeutics, Inc.
Charles H. Sherwood, Ph.D., CEO
Kevin W. Quinlan, CFO
(781) 932-6616

SOURCE Anika Therapeutics, Inc.
Web Site: www.anikatherapeutics.com


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