NeuroVive completes closure of Lyon subsidiary

Lund, Sweden, October 25, 2016 - NeuroVive Pharmaceutical AB (Nasdaq Stockholm:
NVP, OTCQX: NEVPF), the mitochondrial medicine company, today announced that it
has completed the closure of its dormant subsidiary in Lyon, France.
The closure of the subsidiary NeuroVive France SARL is a natural consequence of
the company’s previously communicated decision that it will not pursue
development of CicloMulsion®.

Accordingly, all agreements related to the research partnership with Hospices
Civils de Lyon (HCL) and Professor Michel Ovize, including the OPeRa (Organ
Protection & Replacement) have been terminated.

About NeuroVive

NeuroVive Pharmaceutical AB is a leader in mitochondrial medicine. The company
is committed to the discovery and development of medicines that preserve
mitochondrial integrity and function in areas of unmet medical need. NeuroVive
enhances the value of its projects in an organization that includes strong
international partnerships and a network of mitochondrial research institutions,
drug development and production expertise, as well as commercial partners.

NeuroVive has a project in clinical phase II development for the prevention of
moderate to severe traumatic brain injury (NeuroSTAT®). NeuroSTAT has orphan
drug designation in Europe and in the US. The R&D portfolio consists of several
late stage research programs in areas ranging from genetic mitochondrial
disorders to neurological and metabolic diseases.

NeuroVive is listed on Nasdaq Stockholm, Sweden (ticker: NVP). The share is also
traded on the OTCQX Best Market in the US (OTC: NEVPF).

For investor relations and media questions, please contact:

Cecilia Hofvander, NeuroVive, Tel: +46 (0)46 275 62 21 or ir@neurovive.com

Charles Athle Nelson, NeuroVive US representative, Tel +1 212 961 6277 or
ir.usa@neurovive.com

NeuroVive Pharmaceutical AB (publ)
Medicon Village, SE-223 81 Lund, Sweden
Tel: +46 (0)46 275 62 20 (switchboard), Fax: +46 (0)46 888 83 48
www.neurovive.com

This information is information that NeuroVive Pharmaceutical AB (publ) is
obliged to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of the contact
person set out above, at 08.30 CEST on Oct 25, 2016.