Approved Prospectus for Subsequent Offering

Tromsø, 27 January 2011
 
NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED
STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE
DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.
 
Reference is made to stock exchange release dated 23 December 2010 regarding the
completed private placement in Biotec Pharmacon ASA ("Biotec Pharmacon" or "the
Company"). Biotec Pharmacon has received approval from the Financial Supervisory
Authority of Norway (Finanstilsynet) on the following prospectus:
 
The Subsequent Offering of up to 1,200,000 Offer Shares at an Offer Price of NOK
6.30 per Offer Share with non-transferable preferential rights for Eligible
Shareholders as of 22 December 2010.
 
Subscription Period for the Subsequent Offering: 28 January - 10 February 2011
at 17:30 (CET), both dates inclusive. Preferential rights not used to subscribe
for Offer Shares before the expiry of the Subscription Period will be of no
value and will lapse without compensation to the holder.
 
Eligible Shareholders as of 22 December 2010, as registered in the VPS on 28
December 2010, have non-transferable preferential rights to participate in the
subsequent offering. Eligible shareholders will be notified in a separate letter
with an overview of rights allocated.
Oversubscription is allowed. Please refer to the prospectus dated 27 January
2011 for further details.
 
The prospectus and application form for the subsequent offering is available at
the Company's website www.biotec.no and at the website of the manager SEB
Enskilda (www.sebenskilda.no).
The prospectus can also be received free of charge on request to the manager or
the company. The prospectus is available at Biotec Pharmacon, Strandgata 3, N-
9008, Tromsø, Norway, from 31 January 2011.
 
Svein W. F. Lien, CEO
Mobile: +47 92 28 93 23
 
Arvid Vangen, VP Finance & Administration
Phone: +47 77 64 89 12
Mobile: +47 95 03 87 94
 
About Biotec Pharmacon:
Biotec Pharmacon is a biopharmaceutical company that develops and manufactures
new immunomodulatory products and cold adapted marine enzymes.  The company
focuses on new and effective solutions within wound care, cancer therapies and
other immune related disease areas, and aspires to become a leading supplier of
novel enzymes for diagnostics and genetic research.
 
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Biotec Pharmacon ASA via Thomson Reuters ONE
 
[HUG#1483046]