NeuroVive rights issue 270% oversubscribed

NeuroVive Pharmaceutical AB (publ) has completed the rights issue approved by an
Extraordinary General Meeting on 13 December 2013. The subscription period was
13-27 January 2014. The rights issue was fully subscribed, raising approximately
SEK 75.8 m for NeuroVive before issue expenses. Additionally, the Board of
Directors has decided to fully exercise its overallocation option of a maximum
of 714,286 shares, raising a further SEK 10 m for the company.
The rights issue was 90.0% subscribed with subscription rights, and the
remainder, 10.0%, without subscription rights. Total applications to subscribe
without subscription rights were 270% of the issue, so total applications to
subscribe for the issue were 360%. This meant that underwriting guarantees do
not need to be utilized.

As a result of the oversubscription, the Board has decided to fully utilize its
overallocation option, implying another 714,286 shares will be issued.

The rights issue raises approximately 75.8 m for the Company, and the
overallocation option an additional SEK 10.0 m. This means that NeuroVive will
raise a total of some SEK 85.8 m before issue expenses.

Allotment of shares subscribed without subscription rights in the rights issue
has been conducted in accordance with the principles stated in the prospectus of
8 January 2014. Additionally, the allotment of shares subscribed using the
overallocation option has been to existing shareholders in accordance with the
aforementioned principles, and to new shareholders who registered their interest
in subscribing for shares in the rights issue. This means NeuroVive has
increased the number of shareholders by some 500, which is expected to benefit
its ownership structure and promote share liquidity. Notice of allotment will be
by settlement note to the parties that have been alloted shares. The shares must
be paid-up by no later than the date indicated on the settlement note.

The new issues (including the over-allocation option) increase NeuroVive’s share
capital by SEK 306,452.35 through the issuance of 6,129,047 shares. After the
new issue, the number of shares in the company is 27,788,093. The share capital
after the new issue is SEK 1,389,404.65.

Fully paid-up shares (BTAs) in the rights issue will trade on NASDAQ OMX under
the ticker symbol NVP BTA until the issue has been registered with the Swedish
Companies Registration Office, and will then be replaced by shares. This is
scheduled for the second half of February 2014. On registration, the new shares
will be traded on NASDAQ OMX.

Subscribers who have been allotted shares under the overallocation option will
receive BTAs of another class to those subscribed under the rights issue, which
will trade under a different ticker symbol. BTAs received through the
overallocation option will be traded on Nasdaq OMX under the ticker symbol NVP
BTA 2 and will also be replaced by shares when the issue is registered with the
Swedish Companies Registration Office, scheduled at the same time as stated
above, i.e. in the second half of February 2014. The new shares will then trade
on NASDAQ OMX.

Please note that subscribers allotted shares under both the rights issue, NVP
BTA, and the overallocation option, NVP BTA 2, will receive two separate
settlement notes. After the issues have been registered, all BTAs will be
replaced by shares, and these shares will be of the same class.

About NeuroVive
NeuroVive Pharmaceutical AB (publ), a leading mitochondrial medicine company, is
developing a portfolio of products to treat acute cardiovascular and
neurological conditions through mitochondrial protection. These medical
conditions are characterized by a pressing medical need and have no approved
pharmaceutical treatment options at present. NeuroVive’s products CicloMulsion®
(heart attack) and NeuroSTAT® (traumatic brain injury) are currently being
evaluated in phase III and phase II studies, respectively. NeuroVive’s research
programs also include products for the treatment of anti-viral indications
(Hepatitis B/C), brain cell injury in stroke patients, and drug candidates for
cellular protection and treating mitochondria-related energy regulation
diseases. NeuroVive’s shares are listed on NASDAQ OMX, Stockholm, Sweden.

For Investor Relations and media questions, please contact:
Ingmar Rentzhog, Laika Consulting, tel: +46 (0)46 275 62 21 or ir@neurovive.se
It is also possible to arrange an interview with NeuroVive’s CEO Mikael
Brönnegård via the contact above.

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.se

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 31 January 2014, at 14:00 CET.