Notice of Extraordinary Shareholders' Meeting in Orexo AB


Notice of Extraordinary Shareholders' Meeting in Orexo AB

The board of directors of Orexo AB (publ) has resolved to postpone the
extraordinary shareholders' meeting until 13 November 2007 and thus the
extraordinary shareholders' meeting to be held on 1 November 2007 is cancelled.
The shareholders in Orexo AB (publ), reg no 556500-0600, are hereby summoned to
the extraordinary shareholders' meeting, to be held on Tuesday 13 November 2007,
at 10.00 am in Salénhuset, Norrlandsgatan 15 in Stockholm, Sweden.

Participation, etc
Shareholders, who wish to participate in the meeting, must be recorded in the
share register maintained by VPC AB (the Swedish Central Securities Depository)
on Wednesday 7 November 2007, and must notify the Company of their intention to
participate in the meeting not later than 4.00 pm on Thursday 8 November 2007 in
writing to Orexo AB, P.O. Box 303, 751 05 Uppsala, Sweden. Such notification can
also be made by telephone +46 (0) 18 780 88 00, by telefax +46 (0) 18 780 88 88,
or by e-mail to malena.stenson@orexo.se. The notification shall set forth the
name, address, telephone number (daytime), personal/corporate identity number,
the number of shares held and, when applicable, information about
representatives and assistants. The total number of shares and votes in the
Company are, as of the day for this notice, 13,961,250.

Nominee shares
Shareholders whose shares have been registered in the name of a nominee through
the trust department of a bank or similar institution must temporarily
re-register their shares in their own names in the shareholders' register
maintained by VPC AB to be entitled to participate in the meeting. Shareholders
must inform their nominee of such re-registration well before Wednesday 7
November 2007, when such re-registration must have been executed.

Proxy, etc
Shareholders represented by proxy shall issue a written and dated power of
attorney for the proxy. If the power of attorney is issued on behalf of a legal
entity, a certified copy of a registration certificate for the legal entity
shall be appended. The power of attorney and the registration certificate may
not be older than one year. The power of attorney in original and, when
applicable, the registration certificate, should be submitted to the Company by
mail at the address indicated above well before the meeting. A form for proxies
will be provided on the Company's website www.orexo.com and will be sent to
those shareholders who so request and who inform the Company of their postal
address. 

Proposed agenda 
1.	Opening of the meeting. 
2.	Election of chairman of the meeting.
3.	Preparation and approval of the voting list.
4.	Approval of the agenda.
5.	Election of one or two persons who shall approve the minutes of the meeting.
6.	Determination of whether the meeting has been duly convened.
7.	Proposal to authorize the board of directors to resolve upon issue of new
shares. 
8.	Election of chairman and members of the board of directors.
9.	Closing of the meeting. 

Proposal to authorize the board of directors to resolve upon issue of new shares
(item 7)
The board of directors proposes that the extraordinary shareholders' meeting
resolves to authorize the board of directors to resolve to issue, in connection
with the acquisition of Biolipox AB and without preferential rights for the
shareholders, at one or more occasions, not more than 8,560,000 new shares and
to issue warrants. The company's share capital could be increased by not more
than SEK 3,424,000 as a consequence of such issues of shares and warrants.
Payment for the newly issued shares shall be made in kind, consisting of shares
and options of Biolipox AB. The authorization shall be valid not longer than
until the next annual shareholders' meeting. 

Election of chairman and members of the board of directors (item 8)
Due to the planned acquisition of Biolipox AB, the intention is that the board
of directors of Orexo shall be increased by additional members of the board of
directors from Biolipox. Proposal regarding election of chairman and members of
the board of directors will be announced by a special press release as soon as
such proposal has been finally determined.

 ________________________

The board of director's proposal regarding item 7 above is held available at the
Company's office at Virdings allé 32 A in Uppsala and at the Company's web site,
and will be sent to those shareholders who so request and who inform the Company
of their postal address. 


Uppsala in October 2007

Orexo AB
The board of directors



About Orexo 

Orexo is a pharmaceutical company which focuses on identifying suboptimal
therapeutic characteristics of existing products and developing more efficient
and effective delivery methods for them. By combining approved active substances
with Orexo's drug delivery technologies it is possible to significantly enhance
their therapeutic value, such as providing quicker onset of action or ease of
administration. This business model is aimed at bringing products to market
faster with lower development risk and costs 

Orexo, which has its global headquarters and development laboratories in Sweden,
currently operates across the world through development, licensing and
distribution agreements in all major markets. 

Orexo has a balanced portfolio with two products on the market, three in
registration and/or late stage clinical phase, one in clinical phase I, one in
formulation phase and two in early development phase. 

Orexo is listed on the OMX Nordic List Mid Cap (ticker: ORX). 

www.orexo.com

Attachments

10292185.pdf