Braeburn Pharmaceuticals and Camurus Expand Collaboration and License Agreement to include New Combination Product for Pain and Nausea

Princeton, New Jersey and Lund, Sweden — 24 October 2016 — Braeburn
Pharmaceuticals and Camurus (NASDAQ STO: CAMX) today announced the expansion of
their collaboration and license agreement from 2014 to include buprenorphine
combination products. The first drug candidate within the expanded scope,
(CAM2058), is an extended release injectable combination of buprenorphine and
granisetron in the FluidCrystal® injection depot technology. CAM2058 has
completed formulation development and non-clinical evaluation and is being
transferred to clinical development during the fourth quarter of 2016, initially
being studied for the prevention and treatment of post-operative pain, nausea
and vomiting.

“We are pleased to announce this extension of our successful partnership with
Camurus. This new product candidate has the potential to expand Braeburn’s
ability to offer relief across the continuum of post-operative pain management,
including addressing the often co-occurring symptoms of nausea and vomiting,”
said Behshad Sheldon, President and CEO Braeburn Pharmaceuticals.

“We believe that CAM2058 has the potential to improve the wellbeing of patients
post-surgery and reduce the need for other medications including oral opioid
painkillers which are taken home and self-administered by the patient. The
partnership with Braeburn Pharmaceuticals is a strong platform for the further
global development of this new asset,” said Fredrik Tiberg, President & CEO,
Camurus. ”CAM2058 combines these two treatment modalities in a single, small
volume, sustained release injection which is made possible by using our
FluidCrystal® technology.”

"Postoperative pain, nausea and vomiting are real management concerns for
patients and their physicians. The concept of CAM2058 combining prolonged pain
relief with prophylactic and sustained treatment of nausea and vomiting is
unique.  The opportunity to manage these conditions during the critical post
-operative phase with a single injection is a compelling proposition for both
patients and treatment providers,” said Andrea Barthwell, MD, DFASAM, Addiction
Specialist, whose practice includes pain management.

About post-operative pain
Effective postoperative pain management is an indispensable component of the
continuum of care for the surgical patient. Inadequate pain control may result
in delayed mobilization and recovery, pulmonary and cardiac complications, and
an increased likelihood of the development of neuropathic pain. Data available
indicate that opioid therapy together with neural blockade is among the most
effective treatments of postoperative pain. Given its safety and efficacy
profile when compared to full opioid agonists (e.g. morphine, oxycodone, and
fentanyl), buprenorphine should be considered for first line therapy for the
treatment of a wide range of acute as well as chronic pain conditions. Ideal
buprenorphine formulations would deliver rapid onset and persistent plasma
levels for extended duration as mono or combination therapy. The advantages of
effective pain management include better patient comfort, satisfaction and
earlier mobilization, which together with a faster recovery may reduce cost of
care.

About post-operative nausea and vomiting (PONV)
Postoperative nausea and vomiting (PONV) is defined as any nausea, retching, or
vomiting occurring within the first 24–48 hours after surgery. PONV is one of
the most common causes of patient dissatisfaction after anesthesia, with
approximately 30-50% incidences of vomiting and nausea reported by post
-operative patients. In a subset of high-risk patients, the PONV rate can be as
high as 80%. In addition, PONV is regularly rated in preoperative surveys, as
the anesthesia outcome the patient would most like to avoid.

About CAM2058
CAM2058 consists of a combination buprenorphine and granisetron subcutaneous
extended release injection product in development for the potential treatment of
post-operative as well as other pain indications. The unique properties of the
FluidCrystal technology allow for the durations that are specifically tailored
to the target application, allowing for both shorter and longer-term treatments.
CAM2058 is designed for low volume subcutaneous injection by healthcare
personnel to ensure proper delivery while reducing the need for take home
medication that are often associated the risk of diversion, abuse, and misuse.

About the Agreement
Pursuant to execution of the Amendment to the License Agreement from 2014,
Braeburn Pharmaceuticals has obtained exclusive rights to develop and
commercialize CAM2058 in North America. Camurus retains all rights to CAM2058 in
the rest of the world, except that Braeburn has an option to the rights for
China, Japan, South Korea and Taiwan. The current amendment expands the scope of
the ongoing partnership between Camurus and Braeburn Pharmaceuticals, where
Braeburn is responsible for the development in its’ territories. In addition to
the financial terms already disclosed for the products under the License
Agreement, Camurus is also eligible to non-disclosed late stage development
milestones for CAM2058.

About Braeburn Pharmaceuticals
Braeburn Pharmaceuticals, an Apple Tree Partners company, is a commercial stage
pharmaceutical company delivering individualized medicine in neuroscience. Long
-acting therapeutic treatment options can be essential to improving patient
outcomes and facilitating recovery in neurological and psychiatric disorders,
which are often complicated by stigma and present significant public health
challenges. Probuphine, Braeburn’s long-acting buprenorphine implant, was
approved by the FDA in May 2016. Braeburn’s investigational product pipeline
consists of long-acting implantable and injectable therapies for serious
neurological and psychiatric disorders, including opioid addiction, pain, and
schizophrenia. Braeburn’s pipeline products are at various stages of clinical
development and include CAM2038, weekly and monthly subcutaneous injection depot
formulations of buprenorphine, being investigated in opioid addiction and pain
and a risperidone six-month implant being investigated in schizophrenia. More
information on Braeburn, can be found at www.braeburnpharmaceuticals.com.

About Camurus
Camurus is a Swedish research-based pharmaceutical company committed to
developing and commercialising innovative and differentiated medicines for the
treatment of severe and chronic conditions. New drug products with best-in-class
potential are conceived based on the proprietary FluidCrystal® drug delivery
technologies and an extensive R&D expertise. Camurus’ clinical pipeline includes
products for treatment of cancer, endocrine diseases, pain and addiction,
developed in-house and in collaboration with international pharmaceutical
companies. The company’s share is listed on Nasdaq Stockholm under the ticker
“CAMX”. For more information, visit www.camurus.com.

Media contacts:
Fredrik Tiberg, President & CEO
Tel. +46 (0)46 286 46 92
fredrik.tiberg@camurus.com

Rein Piir, VP Investor Relations
Tel. +46 (0)70 853 72 92
ir@camurus.com

Sherry Feldberg
MSLGROUP Boston
781-684-0770
braeburnpharma@mslgroup.com

This information is information that Camurus AB is obliged to make public
pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets
Act. The information was submitted for publication, through the agency of the
chief executive officer, 08.00 AM CET on 24 October 2016.