NeuroVive Aims to Find Path Forward in Antiviral Development Following Discontinuation of OCB-030 Preclinical Program by Arbutus

Lund, Sweden, 28 October 2015– NeuroVive Pharmaceutical AB (publ), the
mitochondrial medicine company, announces that they will seek to find a suitable
path forward to continue the development of the compound, which is currently out
-licenced to Arbutus Biopharma.
Arbutus Biopharma, formerly OnCore Biopharma, has decided to discontinue
development of OCB-030 (NVP018) so the company can focus its resources on other
agents that directly target HBV.

NeuroVive believes that the compound still has future potential based on the
extensive, independent evidence that supports its application in this area. “We
are of course very surprised by this decision as there is extensive research
which has validated the antiviral effect through indirect targets,” said Jan
Nilsson, interim Chief Executive Officer. “We will be working on finding a
suitable way to continue the development based on our understanding of this
compound”.

"The compounds that NeuroVive are developing are excellent cyclophilin
inhibitors. We are still confident that cyclophilin inhibition, using this
compound class, has great potential in many therapeutics areas including the
antiviral field," said Matt Gregory, CEO of Isomerase Therapeutics - a world
leader in the discovery and development of molecules that target peptidyl-prolyl
isomerases such as cyclophilins.

About NeuroVive
NeuroVive Pharmaceutical AB (publ) is a leading mitochondrial medicine company
committed to the discovery and development of highly targeted candidates that
preserve mitochondrial integrity and function in areas of therapeutic need.
NeuroVive’s business approach is driven by value-adding partnerships with
leading mitochondrial research institutions and commercial partners across the
globe.

NeuroVive’s portfolio consists of two clinical projects in acute kidney injury
(AKI) and traumatic brain injury (TBI) with candidates in clinical and
preclinical development and two drug discovery platforms. The NeuroSTAT® product
is currently being evaluated in a Phase II study in traumatic brain injury.
CicloMulsion® is being evaluated in an ongoing Phase II study, CiPRICS, in acute
kidney injury during major surgery. NeuroVive’s shares are listed on NASDAQ OMX,
Stockholm, Sweden.

For investor relations and media questions in Sweden, please contact:
Johannes Nebel, Laika Consulting, Tel: +46 (0)735 81 71 68 or ir@neurovive.se

For media questions outside Sweden, please contact:
Gemma White, inVentiv Health, Tel: +44 (0)77 13 88 9992 or
gemma.white@inventivhealth.com

It is also possible to arrange an interview with NeuroVive’s CEO Jan Nilsson at
the above contacts.

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
info@neurovive.se,www.neurovive.com

NeuroVive Pharmaceutical AB (publ) is required to publish the information in
this news release under The Swedish Securities Market Act. The information was
submitted for publication on the 28 October 2015, at 13.03 CET.