Biotec Pharmacon successfully completed private placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES
 
Tromsø, Norway, 23 December, 2010:
 
Biotec Pharmacon ASA ("Biotec Pharmacon" or the "Company") today completed a
successful private placement towards professional Norwegian investors of
3,500,000 new shares at the price of NOK 6.30 per share. The share issue
represents approximately 14.81% of the shares outstanding prior to the
placement. Total gross proceeds from the private placement amounted to
approximately NOK 22.05 million.
 
New shares in the private placement will be issued in accordance with the Board
proxy established at the Company's Annual General Meeting held on 4 May, 2010,
but the new shares will not be tradable before the prospect is approved by the
Norwegian financial authorities. The total number of outstanding shares after
the issue will be 27,137,910 shares, each with a nominal value of NOK 1.00.
 
The Board of Directors will propose to the extraordinary general meeting to take
place in the course of January 2011 to conduct a subsequent offering of
1,200,000 shares directed towards existing shareholders in Biotec Pharmacon that
were not offered or invited to participate in the Private Placement. The
subsequent offering issue price will be NOK 6.30, in line with the issue price
in the Private Placement. The subsequent offering is subject to approval in the
extraordinary general meeting. The shares in Biotec Pharmacon will trade
excluding the right to participate in the subsequent offering from 23 December
2010.
 
SEB Enskilda is acting as sole lead Manager.
 
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FOR DETAILS, CONTACT:
 
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 being a leading supplier of novel and
effective enzymes for diagnostics and genetic research. Principal office located
in Tromsø, Norway. For further information, visit www.biotec.no.
 
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
 
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Source: Biotec Pharmacon ASA via Thomson Reuters ONE
 
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