Orexo divests subsidiary Kibion

Uppsala, Sweden – April 30, 2015 - Orexo AB today announced the divestment of
the subsidiary Kibion AB that markets the products Heliprobe® System, Diabact®
UBT and IRIS™ for the diagnosis of the gastric ulcer bacterium Helicobacter
pylori using breath test technology.

The primary objective of the divestment has been to further strengthen the core
focus on the continued development of the pharmaceutical business and on
maximizing the commercial opportunity of Zubsolv®.

The transaction is not considered material for Orexo and its financial position.
The Q2, 2015, cash-flow will be positively impacted by the transaction; however,
EBIT will initially be slightly negatively impacted as not all of the
compensation can be recognized as income in Q2.

The acquisition is made by a team of Swedish investors with a very solid
background within diagnostics and gastroenterological diseases.

“The last two to three years, Kibion’s focus has been on cost containment and
business optimization with the objective to make the company profitable. This
has now been achieved and Kibion is ready to invest to accelerate the growth and
create further value. With Orexo’s focus on the commercialization of Zubsolv
this is a good time to change the ownership of Kibion, to ensure both businesses
maintain focus on core value drivers”, said Nikolaj Sørensen, Chief Executive
Officer of Orexo.

For further information, please contact:

Nikolaj Sørensen, President and CEO, Tel: +46 (0)703-50 78 88

Henrik Juuel, EVP and CFO, Tel: + 46 (0)722-20 94 77

E-mail: ir@orexo.com

About Kibion

Kibion is a diagnostic company and a world-leading supplier of breath tests and
analytical instruments for diagnosing the stomach ulcer bacterium Helicobacter
pylori. The products Heliprobe® System, Diabact® UBT and IRIS™ are sold in more
than 60 countries with the Middle East and the EU being the largest markets.
Kibion is headquartered in Uppsala, Sweden, with a subsidiary, Kibion GmbH, in
Bremen, Germany. www.kibion.com

About the buyer

The acquirer is a team of Swedish investors and business developers with a solid
background as owners and business leaders in the fields of diagnostics and
treatment of gastroenterological diseases. The Board of Directors of Kibion AB
will consist of Håkan Björklund (Astra, Nycomed, Coloplast, Lundbeck, Atos
Medical), Torbjörn Koivisto (Moberg Pharma), Magnus Lundberg (Pharmacia, Chiron,
Phadia, Onyx Pharmaceutical, ConvaTec, Atos Medical) and Anders Lundmark as
Chairman (Phadia, Antrad Medical, Bioservo Technologies). Petter Bäckgren will
remain President and CEO of the KIBION Group.

About Orexo

Orexo is a specialty pharmaceutical company commercializing its proprietary
product Zubsolv® for maintenance treatment of opioid dependence in the US.
Zubsolv® is an advanced formulation of buprenorphine and naloxone using Orexo’s
unique knowledge and expertise in sublingual drug delivery. R&D is focusing on
reformulation of known substances to new improved products that meet great unmet
medical needs by using its patented proprietary technologies. Orexo’s share is
listed on Nasdaq Stockholm Exchange Mid Cap (STO: ORX) and is available as ADRs
on OTCQX (ORXOY) in the US. Orexo’s global headquarters and R&D are based in
Uppsala, Sweden. www.orexo.com