Nuevolution AB (publ) announces its quarterly results for the third quarter 2015/16

Stockholm, 10 May 2016. Nuevolution AB (publ) announces its interim report for
the third quarter 2015/16. The report is available on the company’s home page
(www.nuevolution.com). The following is taken from the quarterly report.

Third quarter summary

  · During third quarter of the fiscal year 2015/16, additional pre-clinical
studies in Nuevolution’s RORγt inverse agonist (inhibitor) program came out with
positive results for its lead candidate.
  · In February 2016, Nuevolution announced that it will receive a milestone
payment of USD 2.0 million from its collaboration with Novartis, which started
in January 2014.
  · In March 2016, the company announced that the European Patent Office has
issued four new patents to Nuevolution related to the Chemetics® platform.
  · Danish Maritime and Commercial High Court (Sø- og Handelsretten) decided
that Nuevolution cannot contest the questions regarding inventorship and
ownership of the patents in the case against Henrik Pedersen and Chemgene
Holding ApS. Nuevolution disagrees with the Court’s decision and has been
allowed appeal of this question to the Eastern High Court (Østre Landsret).
Other questions in the case including Nuevolution’s right for a US continuation
application has not yet been decided.
  · Group revenues for the third quarter of 2015/16 amounted to SEK 6.0 million
(4.3). First nine months: SEK 18.2 million (24.2) from technology platform
agreements.
  · In the third quarter of 2015/16, the group recorded an operating loss of SEK
21.7 million (-18.7). First nine months: SEK -75.2 million (-43.1) and SEK -60.4
million excluding IPO costs.
  · The group’s net loss in the third quarter of 2015/16 was SEK 20.9 million (
-16.8). First nine months: SEK -70.3 million (-34.7) and SEK -55.5 million
excluding IPO costs.
  · Earnings per share (EPS) was SEK -0.49 for the third quarter of 2015/16 (
-0.72). First nine months: SEK -2.05 (-1.52) and -1.62 excluding IPO costs.
  · Net cash at the 31stof March 2016 was SEK 210.8 million (SEK 67.8 million).
  · Events that have occurred for Nuevolution AB (publ) since the end of the
reporting period: In April 2016, the company announced that Janssen Biotech has
used its option to expand the collaboration with Nuevolution, thereby providing
Nuevolution with a further payment of USD 0.6 million.

”The third quarter of 2015/16 progressed satisfactory both with regards to our
R&D activities and with our upcoming partnering activities. Furthermore, the
expansion of the agreement with Janssen Biotech and USD 2 million additional
milestone from our collaboration with Novartis, continue to confirm the value of
our technology and approach to the discovery of new medicines in areas of unmet
medical need”, CEO Alex Haahr Gouliaev commented.

On Tuesday 10 May at 14:00 CET, the company’s executive management will host a
conference call and webcast discussion of the results and provide an update on
the pipeline programs and partnering activities. Access to the event can be
obtained as follows:

LIVE access on Tuesday 10 May at 14:00 CET

Telephone numbers:

SE: +46 85 664 2669

DK: +45 8233 3178

UK: +44 20 3008 9808

US: +1 855 7532 235

Webcast available at www.nuevolution.com in the Investors section and at:
www.financialhearings.com

REPLAY access

Webcast replay will be available on Nuevolution’s website at www.nuevolution.com
in the Investors section and at www.financialhearings.com

For more information, please contact:

Alex Haahr Gouliaev, CEO

Phone: +45 70 20 09 87

Email: ahg@nuevolution.com

Henrik D. Simonsen, CFO

Phone: +45 39 13 09 47

Email: hs@nuevolution.com

About Nuevolution

Nuevolution AB (publ) is a leading small molecule drug discovery biotech company
founded in 2001, and headquartered in Copenhagen, Denmark. Nuevolution partners
its discovery platform and programs with pharmaceutical and biotechnology
companies to seek future benefit of patients in need of novel medical treatment
option. Nuevolution’s internal programs are focused on therapeutically important
targets within inflammation, oncology and immuno-oncology.

Nuevolution AB (publ) is required to disclose the information provided herein
pursuant to the Securities Markets Act and/or the Financial Instruments Trading
Act. The information was sent for publication on 10 May 2016, 9.00 (CET).

Nuevolution AB (publ) is listed at Nasdaq First North in Stockholm, Sweden
(ticker: NUE). Västra Hamnen Corporate Finance AB acts as Certified Advisor to
Nuevolution AB (publ). More information about Nuevolution can be found on
www.nuevolution.com