Decision of the Arbitration Board regarding XVIVO Perfusion’s rights to the Vivoline patents

The Arbitration Board has announced its decision regarding which agreement
rights XVIVO has in relation to three patents Stig Steen/Igelösa transferred to
Vivoline. The decision means that the Arbitration Board does not consider that
XVIVO has a right to the low potassium dextran (LPD) solutions containing
calcium, pursuant to the improvement clause in the current agreement that the
company has with Igelösa.  The decision states that the question was complex,
which can also be understood by the fact that the outcome was negative even
though XVIVO’s case had found support among legal and industrial expertise. The
company is at present analyzing whether and if so to what extent the decision of
the Arbitration Board affects the current District Court hearing against
Vivoline Medical AB (publ).
XVIVO Perfusion, which was then part of Vitrolife, had collaboration with Stig
Steen and Igelösa. Substantial support was given to Stig Steen’s research in
exchange for the rights to commercialize Steen’s discoveries regarding LPD
solutions containing calcium for organ preservation and any patentable
improvements that were developed by Steen/Igelösa. Just over a year ago, XVIVO
Perfusion AB (publ) initiated legal action against Stig Steen/Igelösa, as well
as Vivoline Medical AB (publ), to establish that certain patents that Vivoline
had acquired from Stig Steen/Igelösa were in fact covered by the exclusive
rights that XVIVO Perfusion had obtained from Stig Steen/Igelösa. After
consultation with legal experts in Sweden, XVIVO Perfusion’s assessment was that
this was the case and the company then considered that it was its duty vis-à-vis
the shareholders to find a legal solution to the issue, as negotiations with
Steen/Igelösa and Vivoline had failed.

XVIVO Perfusion’s own product, STEEN Solution™, which is in the process of being
launched in the US and Europe, is not part of the dispute and is protected by
patents that have been granted and which are valid until 2021. Additional costs
for Igelösa's legal costs and the costs of the arbitration process, totaling
approximately SEK 2.1 million will be charged to the fourth quarter of 2014.

Magnus Nilsson, CEO of XVIVO Perfusion, states: “XVIVO Perfusion considers that
the outcome is unfortunate, but wishes to emphasize that it does not impinge on
the company’s existing product portfolio or business focus. It can be clearly
seen from the decision that the case contained complex legal issues, where the
Arbitration Board arrived at an assessment that differed from that of the
experts that XVIVO has engaged”.

December 18, 2014
Gothenburg
XVIVO Perfusion AB (publ)
For further information please contact:
Christoffer Rosenblad, CFO, +46 31 788 21 59,
christoffer.rosenblad@xvivoperfusion.com
For further information on XVIVO Perfusion’s business, please refer to the
company’s website, www.xvivoperfusion.com

The information was submitted for publication on December 18, 2014 at 8:30 a.m.

This is a translation of the Swedish version of the press release. When in
doubt, the Swedish wording prevails.
________________________________________________________________________________
_ 
_____________________________________

XVIVO Perfusion AB is a medical technology company which develops solutions and
systems for assessing and preserving organs outside the body and for selecting
usable organs and maintaining them in optimal condition pending transplantation.
The company is headquartered in Gothenburg, Sweden, and has one office in the
USA. The XVIVO share is listed on NASDAQ OMX First North and has the ticker
symbol XVIVO. More information can be found on the website
www.xvivoperfusion.com. The Certified Adviser is Redeye, www.redeye.se.
________________________________________________________________________________
_ 
_____________________________________

XVIVO Perfusion AB (publ), Box 53015, SE-400 14 Göteborg. Corporate identity
number 556561-0424.
Tel: 46 31 788 21 50. Fax: 46 31 788 21 69.
E-mail: info@xvivoperfusion.com. Website: www.xvivoperfusion.com