YEAR-END REPORT JANUARY-DECEMBER 2011

YEAR-END REPORT JANUARY-DECEMBER 2011

2011 in brief

  · Net sales climbed to SEK 2,856k (1,596k)
  · Revenues from the protein portfolio increased by 160%
  · Loss after financial items was SEK 13,758k (loss: 11,334k)
  · Comprehensive income for the year was SEK -13,608k (-11,292k)
  · Earnings per share SEK -0.20 (-0.33)
  · Cash and cash equivalents at the end of the period totaled SEK 7,563k
(4,074k)

In February, Genovis acquired an exclusive license for a new technology that
uses so-called upconverting nanoparticles as contrast agents in optical
biomedical imaging. Genovis acquired the license from Lumito, a LUAB company,
including an option to acquire the technology in its entirety.

In April, Genovis launched the FragIT™ Kit, a scalable and efficient technology
for producing antibody fragments with extremely high yield and short process
time. The product is a further development of Genovis’ unique technology and
targets customers in pharmaceutical, biotech and diagnostics companies that
develop antibody-based drugs and analyses.

Revenues improved during all four quarters compared with the same period last
year and showed an increase on a rolling twelve month basis of between 80 and
100% over the year compared with 2010, which is a higher growth rate than the
company had achieved between 2010 and 2009. Major pharmaceutical companies and
several of the leading biotechnology companies that develop drugs based on
antibody molecules became Genovis customers during the year. Several of these
companies have published scientific papers demonstrating the benefits of Genovis
products or in which Genovis products had a decisive role in the development
process.

During the spring Genovis completed a rights issue that was subscribed at over
90% and raised about SEK 18m before issue expenses.

Events after the end of the period

The first scientific article from the Sentinel Node project has been published
in the Journal of Nuclear Medicine, a highly ranked journal in its field and a
forum for the exchange of clinical and scientific information for nuclear
medicine practitioners.

The Board of Directors of Genovis has decided to hold the Annual General Meeting
earlier on March 20, 2012. On February 21 the notice convening the AGM will
appear in Post och Inrikes Tidningar and an ad will be published in Dagens
Industri.

The Interim Report for January-March, which would have been announced on April
26, was postponed, and the new publication date is May 22. The Interim Report
for January-June, which was to be announced on August 23, was postponed and the
new publication date for the report is September 6.

For more information, please contact: Sarah Fredriksson, CEO, Genovis AB Tel:
4646 -101235 sarah.fredriksson@genovis.com