Novo transaction completed

Novo transaction completed

Uppsala, April 7, 2010 — Following approval by the extraordinary general meeting
of the convertible bond issue to Novo A/S, the bond issue in the amount of SEK
111,150,000, and Novo's acquisition of existing shares corresponding to 10.7 per
cent of the total number of shares and votes in Orexo, have now been completed.

As a consequence, the election of Michael Shalmi as new board member, replacing
Johan Christenson, has now become effective.
 
Related to the transaction, Rodman & Renshaw, LLC, a subsidiary of Rodman &
Renshaw Capital Group, Inc. (NASDAQ: RODM) acted as financial advisor to Orexo.
ABG Sundal Collier also acted as financial advisor to Orexo in connection with
the transaction.


For further information, contact:
Torbjörn Bjerke, President and CEO
Tel: +46 (0)708-66 19 90
E-mail: torbjorn.bjerke@orexo.com

Claes Wenthzel, Executive Vice President and CFO
Tel: +46 (0)708-620 122
E-mail: claes.wenthzel@orexo.com



About Orexo
Orexo is a revenue generating pharmaceutical company focusing on developing
treatments for pain and inflammation. The company has four products on the
market as well as a broad project portfolio in late stages of development. Sales
and product development are mainly carried out through worldwide partnership
agreements with larger pharmaceutical companies. Abstral for the treatment of
break through cancer pain is currently Orexo's most important product. Abstral
was launched in major European countries in 2009 and is in registration phase in
the USA and in Japan.  Orexo has 108 employees, and has its head office located
in Uppsala, Sweden. More information can be found at www.orexo.com.

 

About Novo A/S and Novo Growth Equity
Novo A/S is the holding and investment company of the Novo Group, and is wholly
owned by the Novo Nordisk Foundation. Novo A/S was formed in 1999 to actively
manage the assets of the foundation. It employs about 30 people and has
approximately USD 15 billion of assets under management. These include
significant shareholdings in the publicly listed Novo Nordisk A/S (NasdaqOMX:
NOVO B) and Novozymes A/S (NasdaqOMX;NZYM B), Novo A/S provides seed, venture
and growth capital to development stage companies within life science and
biotechnology, as well as manages a broad portfolio of financial assets. Novo
A/S is committing up to USD 300 million annually to its investments in seed,
venture and growth equity life science companies. Of this, nearly two-thirds are
directed to the Novo Growth Equity activities focusing on investment in
promising late stage companies with near term commercial potential. For further
information please visit www.novo.dk.



Note
This is information that Orexo AB (publ) is required to disclose pursuant to the
Swedish Securities Markets Act. The information was provided for public release
on April 7, 2010 at 11:15 CEST.