Pergamum reports top line Phase II-data from the clinical trial for prevention of post-surgical adhesions

SWEDEN, STOCKHOLM – July 10, 2012. Pergamum AB, a Karolinska Development
portfolio company, today announced top-line results from the randomized first
time in patient Phase II trial of PXL-01 for prevention of post-surgical
adhesions. The study showed that the drug was safe and well tolerated. The
primary end point of the study was not met. However, the data suggests that PXL
-01 may improve the postoperative outcome regarding the hand mobility after
surgery.
Top-line results from the Phase II trial on subjects that have undergone tendon
repair surgery in the hand have now been analyzed. Treatment with PXL-01 was
well tolerated, and did not adversely affect tendon or wound healing. The study
did not show any statistically significant difference between the group that
were treated with PXL-01 and the placebo group measured as TAM2 (Total Active
Motion, sum of two finger joints), which was the primary end point. However,
there is a clear trend that treatment with PXL-01 may improve the postoperative
outcome as the number of patients categorized as having good or excellent
mobility of the injured finger 12 weeks after the surgery, was higher compared
to treatment with placebo. In the group treated with PXL-01, 67 percent of the
subjects demonstrated excellent or good range of motion according to
Strickland’s classification scale, compared to 48 percent of the subjects in the
group treated with placebo. This endpoint is an important indicator of deficit
in hand function after the surgical procedure.

In total, 138 patients undergoing hand surgery was treated in this prospective,
double-blind, randomized placebo controlled clinical trial conducted in Sweden,
Denmark and Germany. The final Phase II report is expected to be published in
the third quarter 2012 while the trial continues to include 6 and 12 months
follow up.

Jonas Ekblom, CEO of Pergamum:

“Adhesion formation after surgery is a considerable debilitating adverse effect
and there are currently no pharmacological products for treatment of these
complications. We are now analyzing this complex data set to decide on the next
step in the PXL-01 clinical program. We are looking forward to concluding the
study in February 2013 including follow up data and are hopeful that the
positive trends observed will continue.”

According to a recent article published in The Lancet, there are more than 230
million surgical procedures performed in the world annually and in many of these
cases the patients are at risk for the formation of surgical adhesions.

Torbjörn Bjerke, CEO of Karolinska Development AB and Chairman of Pergamum AB:

“This is a study on patients after hand surgery, but there are several types of
surgery where patients frequently experience complications with adhesions. These
undesirable adverse effects are both painful for patients and costly for
society, why an effective pharmaceutical product targeting post-surgical
adhesions would have great medical and commercial potential. We will await the
full analysis of this data before we make any further conclusions.”

For further information, please contact:
Jonas Ekblom, CEO, Pergamum AB
Phone: +46 (0)8 470 37 40, e-mail: jonas.ekblom@pergamum.com

Torbjörn Bjerke, CEO, Karolinska Development AB
Phone: +46 (0)72 744 41 23, e-mail: torbjorn.bjerke@karolinskadevelopment.com

TO THE EDITORS

About Pergamum AB
Pergamum is a biopharmaceutical company specialized in the development of
therapeutic peptides for local application in infections and wounds. Within
Pergamum, companies and projects are managed as fully integrated operating
units. The company’s vision is to develop a portfolio of unique development
programs representing high medical value that ultimately, through global
partnerships, will result in first-in-class and first-in-category products. The
current development pipeline includes three therapeutic peptides, with potential
for use in several medical applications. Please visit our web site:
www.pergamum.com

About Karolinska Development AB
Karolinska Development aims to create value for investors, patients, and
researchers by developing innovations from world class science into products
that can be sold or out-licensed with high returns. The business model is to:
SELECT the most commercially attractive medical innovations; DEVELOP innovations
to the stage where the greatest return on investment can be achieved; and
COMMERCIALIZE the innovations through the sale of companies or out-licensing of
products. An exclusive deal flow agreement with Karolinska Institutet
Innovations AB, along with other cooperation agreements with leading Nordic
universities, delivers a continuous flow of innovations. Today, the portfolio
consists of 35 projects, of which 14 are in clinical development. For more
information, please visit www.karolinskadevelopment.com.

Karolinska Development is listed on NASDAQ OMX. Karolinska Development may be
required to disclose the information provided herein pursuant to the Securities
Markets Act.