20 May 2016

15 million in a private placement

Oncoinvent AS has successfully completed a private placement. The share offering was directed towards Oncoinvent’s existing shareholders and a limited number of private investors. The issue was oversubscribed and will provide NOK 15 mill. to Oncoinvent, net of transaction costs.

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The proceeds will be used to build manufacturing capacity for the clinical development program of the company’s lead compound, a new alpha-therapeutic designed for local treatment of micrometastases. Oncoinvent will further use the funds made available through the transaction to expand its activities and acquire the additional human resources required for preparations of its first clinical trial.

A total of 48 investors participated in the issue. The total number of shares after the Board of Directors allocated new shares at its meeting at May 19th will be 740 700, pending for registration in The Register of Business Enterprises.

Anders Månsson

Chief Executive Officer

mansson@oncoinvent.com

+47 488 68 863

Anders Månsson is a business executive with over 25 years of experience from management roles in the pharmaceutical industry, focusing on commercialisation and M&A + licensing. Mr. Månsson has held leading roles in the industry both in his native Sweden and in other European countries, and he has worked extensively with the USA and Asia as focus markets in global roles.

Mr. Månsson holds a B.Sc. degree in Business & Economics from Lund’s University in Sweden as well as an MBA from Business School Lausanne in Switzerland. He has a broad-based industrial experience, featuring both large multinational companies such as Meda, Ferring & LEO Pharma, and including leading roles in start-ups and smaller biotech companies. On top of his executive role in Oncoinvent, Mr. Månsson holds two non-executive director positions serving on the board of EQL Pharma AB as well Immetric AB, the latter being an investment company focusing on life science.