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MOBERG PHARMA SECURES FINANCING TO FACILITATE PORTFOLIO EXPANSION

Stockholm, July 2, 2013. Based on the authorization from the 2013 Annual General Meeting, the Board of Moberg Pharma AB (OMX: MOB)(“Moberg Pharma”, the “Company” or the “Group”) has resolved to issue new shares with deviation from the shareholders’ preferential rights to Bure Equity AB (publ) (“Bure”). The purpose of the financing is to facilitate forthcoming additions to the Company´s product portfolio.

Successful launches of NaloxÔ/Kerasal NailÔ in Europe and the US, growing sales and a positive cash flow have resulted in a strengthened position for Moberg Pharma. The Company is now approaching the next step in its growth strategy – to expand its product portfolio for marketing primarily through its own OTC sales channels in North America. The directed issue to the Swedish institutional investor Bure brings approximately SEK 36 million, aimed at facilitating acquisitions and licensing of marketed products, as well as pipeline assets. 

The directed share issue is priced at current market price and means that 1,081,000 new shares will be issued in the Company, and that the Company's share capital will increase by SEK 108,100, resulting in a dilution of approximately 9.1 percent of the capital and votes in the Company. After the share issue, Bure will be the third largest shareholder in Moberg Pharma.

Peter Wolpert, CEO of Moberg Pharma, comments:
”I am very pleased to welcome Bure as a major shareholder and with their support for our value creation strategy. The share issue enables us to further leverage our well-established North American sales and marketing organization by expanding our product portfolio. We see ample near term opportunities to make attractive product and pipeline investments.”

Henrik Blomquist, CEO of Bure, comments:
“We view Moberg Pharma as an interesting investment opportunity within the pharmaceutical sector. The Company has a pronounced commercial focus, a sound approach to the inherent risk in drug development and a strong track record of delivering on its promises.”

Information about the new share issue

  • The new issue of 1,081,000 shares has been decided upon July 1, 2013, pursuant to the authorization received by the Board at the Annual General Meeting on April 23, 2013.
  • The issue will be priced at SEK 33.54 per share, which corresponds to the volume-weighted average price of the Moberg Pharma share during the past 30 trading days before the announcement. Closing price of the Moberg Pharma share on Monday July 1, 2013 was SEK 32.30.

Background and motives
The directed issue of approximately SEK 36 million to the Swedish institutional investor Bure provides financing for the next step in Moberg Pharma’s growth strategy – acquisitions and licensing of products as well as pipeline assets, with a primary focus on products for Moberg Pharma´s own sales channels in the North American market.

The directed issue provides Moberg with a fast and efficient financing route for near-term acquisition opportunities. The reasons for the deviation from the shareholders’ pre-emptive rights are that Bure’s subscription of shares in the Company is attractive when comparing to other financing alternatives in combination with that Bure represents a long-term investor that expands the Company´s institutional shareholder base.

Prospectus
The Company will publish a prospectus in connection with the admission to trading of the shares issued in the new share issue. The complete prospectus will be available on Moberg Pharma’s website at the end of July, 2013 (www.mobergpharma.se).

Indicative Timetable
Directed share issue completed                                                                   July 1, 2013
Estimated registration of the directed share issue                               End of July, 2013

Financial and legal advisors
HDR Partners has acted as financial advisor and Mannheimer Swartling Advokatbyrå as legal advisor to Moberg Pharma in this transaction.

For additional information, please contact:
Peter Wolpert, CEO, Moberg Pharma AB

Phone: +46-8-522 307 08, e-mail: peter.wolpert@mobergpharma.se

Mats Pettersson, Chairman of the Board, Moberg Pharma AB
Phone: +46-8-522 307 00, e-mail: matsp@malthouse.se

About this information
The information provided herein is such as Moberg Pharma is required to disclose pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 8.00 am (CET) on July 2, 2013.

About Moberg Pharma
Moberg Pharma AB (publ) is a rapidly growing Swedish pharmaceutical company with direct sales through its own sales organization in the US and sales through distributors in more than 35 countries. The Company’s product portfolio includes topical products for the treatment of skin disorders and pain under the brands Kerasal®, Jointflex®, Kerasal Nail®and Kaprolac®. Kerasal Nail®(Nalox™ in many markets) is the leading product for the treatment of nail disorders in the Nordic market. The portfolio is developed further through acquisitions and in-licensing of products as well as product development with focus on innovative drug delivery based on proven compounds. Moberg Pharma has offices in Stockholm and New Jersey and the Company’s share (OMX: MOB) is listed on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.mobergpharma.se.

About Bure Equity AB (publ)
Bure is an investment company with ownership interests in Nordic companies. The current holdings consist of seven portfolio companies, of which four are listed. Bure is listed on the Mid Cap list of the NASDAQ OMX Nordic Exchange Stockholm. For further information, please visit: www.bure.se.

Forward-looking statements
This press release contains certain forward-looking statements that reflect the Company's current views or expectations of future events and financial and operational performance, including statements relating to the directed issue and statements regarding guidance, planning, prospects and strategies. Words such as "intends", "anticipates", "expects", "plans", "estimates", "may", and similar expressions regarding indications or predictions of future developments or trends that are not based on historical facts, constitute forward-looking information. Although the Company believes that these statements are based upon reasonable assumptions and expectations, the Company can not give any assurances that any such forward-looking statements will materialize. Because these forward-looking statements involve both known and unknown risks and uncertainties, actual results may differ materially from the information set forth in the forward-looking information. Forward-looking statements in this press release apply only at the time of the press release and are subject to change without notice. The Company undertakes no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise, other than as required by applicable law or stock market regulations.