Biovitrum and Swedish Orphan International to merge

Biovitrum and Swedish Orphan International to merge

Investor Growth Capital divests shares in Swedish Orphan International to
Biovitrum and Investor participates in financing the combined Swedish Orphan
Biovitrum.

As announced today, Biovitrum has entered into an agreement with the owners of
Swedish Orphan International to merge the two companies, forming Swedish Orphan
Biovitrum. The new company has expected pro forma 2009 revenues of SEK 2 bn. and
an EBITDA margin of 15 percent.

“We are very excited about the strong industrial logic in this merger, forming a
Nordic based leader in the field of specialist pharmaceuticals for treatment of
rare diseases. Swedish Orphan has a long record of profitable growth and
Biovitrum has several products in the market and a strong pipeline of products
in late development stages. The combined company will have a very attractive
growth and profitability profile”, comments Lennart Johansson, Head of
Investor's Operating Investments.

Investor Growth Capital first invested in Swedish Orphan International in 2004
and has an ownership stake of 42 percent in the company.

“Ever since our initial investment in Swedish Orphan we have been impressed by
the management's ability to grow the business while maintaining high
profitability. This has been a successful investment for Investor Growth
Capital“, comments Thomas Eklund, Co-head of Investor Growth Capital Europe.

Investor Growth Capital will tender its 42 percent in Swedish Orphan
International for new shares1) in Biovitrum, corresponding to a value of SEK
1,524 m2).

Investor has an ownership stake of 23 percent in Biovitrum and has undertaken,
subject to certain conditions, to subscribe to its pro rata share in the
proposed new rights issue in Biovitrum of maximum 
SEK 350 m.

Assuming completion of the transaction, Investor will have an ownership of 41
percent in Swedish Orphan Biovitrum. Investor has been granted an exemption from
the mandatory bid rules from the Swedish Securities Council. 

Approval by the Extraordinary General Meeting (EGM) of the issue in kind to
Swedish Orphan's existing shareholders will require two thirds majority.
Pursuant to the Mandatory Bid Exemption, Investor's votes at the EGM on this
issue shall be disregarded when calculating the shares and number of votes
represented. 

Investor employees Hans Glemstedt and Peter Sellei, both members of the board of
directors in Biovitrum, have not participated in any sessions, including
decisions of the board of directors of Biovitrum regarding the transaction due
to conflict of interest. 

Investor will report Swedish Orphan Biovitrum as an Operating Investment, valued
at the official stock price.

For more information about the proposed merger; www.biovitrum.com

1) This will require approval by anti-trust authorities. In the event that
Investor does not receive all necessary regulatory approval within a period of
three and a half months after signing of the transaction, Investor Growth
Capital will in whole or in part, receive convertible participation debentures
instead of shares as payment in-kind.

2) In addition, as described in Biovitrum's press release, Investor Growth
Capital could receive a potential cash earn-out given future success of a
certain product. 

About Swedish Orphan International
Swedish Orphan International specializes in the development, marketing and
distribution of pharmaceutical products, focusing on orphan drugs (niche
products) with unmet medical needs that can be used in the treatment of rare
disorders and life-threatening diseases.

About Biovitrum
Biovitrum is a Swedish pharmaceutical company listed on the Nasdaq OMX Nordic
Exchange. The company markets a range of specialist pharmaceuticals
internationally. Research expertise and capabilities are focused on development
and production of biotechnology therapeutics within prioritized areas of
hemophilia, inflammation/autoimmune diseases and malabsorption.

For further information:

Oscar Stege Unger, Head of Corporate Communications, Phone +46 8 614 2059, +46
70 624 2059 
Magnus Dalhammar, Investor Relations Manager, Phone +46 8 614 2130, +46 735 24
2130

Our press releases can be accessed at www.investorab.com on the Internet.

Investor AB is a Nordic-based industrial holding company founded almost one
hundred years ago by the Wallenberg family. Today we have investment activities
in Europe, the United States and Asia. The business concept is to generate
attractive long-term returns for our shareholders by owning and developing
companies with solid potential for value creation. We are an engaged owner and
apply experience, knowledge and a unique network to develop listed and unlisted
companies to make them best-in-class.