Orexo completes the acquisition of Biolipox, appoints new CEO and publishes a prospectus

Orexo completes the acquisition of Biolipox, appoints new CEO and publishes a
prospectus

Orexo AB has today completed the previously announced acquisition of Biolipox
AB. Orexo has acquired all shares and warrants in Biolipox through payment
consisting of 7.630.895 new shares in Orexo and 926.000 warrants entitling to
subscription for 926.000 new shares in Orexo.

The board of directors of Orexo has, in connection with the acquisition,
appointed Torbjörn Bjerke as new CEO of the company. Torbjörn Bjerke was
previously CEO in Biolipox. As previously announced Zsolt Lavotha, former CEO,
will leave his employment and serve as Senior Advisor to Orexo's board.

The board of directors of Orexo has prepared a prospectus regarding listing of
shares in Orexo in connection with the acquisition of Biolipox. The prospectus
is available at www.orexo.se. The prospectus can also be obtained, free of
charge, from Orexo AB, Box 303, Virdings allé 32 A, 751 05 Uppsala, Sweden, tel.
+46 (0)18-780 88 00.

For more information, please contact:
Håkan Åström, Chairman of the Board, Orexo AB
Tel: +46 (0)703-74 72 13
E-mail: hakanastrom@aol.com

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

Claes Wenthzel, Executive Vice President & CFO, Orexo AB 
Tel: +46 (0)18-780 88 44 
Email: claes.wenthzel@orexo.com


TO THE EDITORS 

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 Nordic List at the OMX Nordic Exchange Stockholm, Mid Cap
(ticker: ORX). 

www.orexo.com 

About Biolipox 

Biolipox is a Swedish research-intense pharmaceutical company that focuses on
developing novel, effective drugs for treating respiratory diseases and other
inflammatory diseases, such as asthma, chronic obstructive pulmonary disease
(COPD), rhinitis (hay fever), pain and arthritis (inflammatory joint diseases).
By drawing on its knowledge in the inflammatory research area, particularly
arachidonic acid metabolism, Biolipox has created a portfolio of potential
blockbusters in these therapeutic areas. The company has 52 employees and is
owned by Health Cap, Apax Partners, Sofinnova Partners, SLS Venture, Crédit
Agricole Private Equity, Auriga Partners and the scientific founders. 

www.biolipox.com