Release details

2016-03-02 08:12 CET
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Preliminary result of subsequent repair offering in Bionor

Bionor Pharma ASA

STOCK EXCHANGE ANNOUNCEMENT

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Preliminary result of subsequent repair offering in Bionor

(Oslo, Norway, 2 March 2016) Reference is made to the stock exchange announcement dated 16 February 2016 and the prospectus dated 15 February 2016 (the "Prospectus") concerning the subsequent repair offering (the "Repair Offering") of up to 44,366,197 new shares (the "Offer Shares") and 44,366,197 warrants (the "Warrants") in Bionor Pharma ASA ("Bionor" or the "Company", ticker "BIONOR") at a subscription price of NOK 0.71 per Offer Share.

The subscription period for the Repair Offering ended on 1 March 2016 at 16.30 CET.

A preliminary count indicates that the Company has received subscriptions for approximately 22.9 million new shares and 22.9 million warrants at the end of the subscription period.

The allocation of the shares offered in the Repair Offering is expected to be resolved by the Company's board of directors on or about 3 March 2016, in accordance with the allocation criteria set out in the prospectus dated 15 February 2016. The final result of the Repair Offering is expected to be published on or about 3 March 2016, and letters regarding allocation of new shares and the corresponding amount of the subscription amount to be paid by each subscriber, is expected to be distributed as soon as possible thereafter.

Further information
David Horn Solomon, President and CEO, +45 22 20 63 00, dhs@bionorpharma.com
Jens Krøis, CFO, +45 20 80 16 68, jk@bionorpharma.com
Jørgen Fischer Ravn, VP Investor Relations & Communications, +45 20 30 39 03, jfr@bionorpharma.com

About Bionor
Bionor Pharma is a Norwegian biopharmaceutical company focused on advancing its proprietary therapeutic vaccine Vacc-4x in combination with other medicines toward a functional HIV cure. The Company believes it has first mover potential based on clinical results to date and early adoption of now recognized clinical strategy. In December 2015, Bionor announced that the HIV 'Shock & Kill' trial REDUC with Vacc-4x and romidepsin successfully met its primary endpoint by reducing latent HIV reservoir and further demonstrated control of viral load. Bionor is currently planning BIOSKILL, a proof-of-concept Phase II trial, which may lead to a major value inflection point and partnering opportunities. Bionor currently retains full ownership rights to Vacc-4x, i.e., the upside potential from partnering or licensing remains with the Company. Bionor is based in Oslo, Norway, and also has offices in Copenhagen, Denmark and New York, USA. Bionor is listed on Oslo Børs (OSE:BIONOR). More information about Bionor is available at www.bionorpharma.com.

Important information:
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia).

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. The Company does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into Australia, Canada, Japan or the United States. The issue, exercise, purchase or sale of subscription rights and the subscription or purchase of shares in the Company are subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Manager assumes any responsibility in the event there is a violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Manager is acting for the Company and no one else in connection with the Repair Offering and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients or for providing advice in relation to the Repair Offering and/or any other matter referred to in this release.

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