NeuroVive holds rights issue ahead of listing on AktieTorget

NeuroVive Pharmaceutical AB (publ) is holding a new rights issue of up to SEK 15,010,000 prior to being listed on AktieTorget and is publishing a prospectus in connection with the issue. The subscription period is 11 August – 3 September 2008 and the subscription price SEK 7.60 per share. Before the current issue, NeuroVive was valued at SEK 89,832,000 (pre-money).

NeuroVive is involved in research and development into nerve-cell-protecting drugs for treating traumatic brain damage and other neurological damage for which there is currently no effective treatment. NeuroVive has shown that cyclosporine-A, which is a well-known substance registered for other purposes, has powerful nerve-cell-protecting characteristics.

NeuroVive holds approved worldwide patent rights for the protection of nerve cells with cyclosporine-based drugs in patients with acute neurological damage. The company’s first product, NeuroSTAT®, is ready for clinical trials. NeuroVive is also engaged in the advanced research and development of new potential drugs which could protect nerve cells. NeuroVive intends to license products to major pharmaceutical companies for registration and marketing.

Summary of issue terms and times:

Waiving shareholders’ pre-emptive rights, subscription is open to the general public, institutional investors and the company’s Board.
The subscription price is SEK 7.60 per share. If the issue is taken up in full, this will generate SEK 15,010,000 for NeuroVive.
The subscription period runs from 11 August to 3 September 2008.
The resolution on allocating shares was passed by the Board, on the following terms: the Board has decided that subscribers will be allocated shares in proportion to the total they apply for. Allocation notices will be sent out some time around 5 September 2008. If the issue is over-subscribed, subscribers may obtain fewer shares than they apply for, or none at all. No guarantee is given that any one shareholder will be allocated shares. The Company intends to announce the issue results around 5 September 2008, via press releases on its website and on that of AktieTorget.
Cash payments must reach NeuroVive by 11 September 2008 at the latest, to the Company's bank giro as instructed on the settlement form. Booking out shares will start some time around 25 September 2008.
The first day of trading is expected to be 3 October 2008.
The prospectus, folder and subscription form are available on the company's website (www.neurovive.se) and that of AktieTorget (www.aktietorget.se).

For more information contact:

Eskil Elmér
MD and CSO, Neurovive Pharmaceutical AB (publ)

Telefon: + 46 (0)46-288 01 10
eskil(punkt)elmer(snabel-a)neurovive(punkt)se

NeuroVive is involved in research and development into cyclosporine-based drugs, also known as cyclophilin-D inhibitors. The company’s first product, NeuroSTAT®, is now ready for clinical trials in humans. NeuroVive is also involved in advanced research and development into new potential drugs that could protect nerve cells. The company holds broad patent rights to a family of drugs known as cyclosporines. NeuroVive intends to license products to major pharmaceutical companies for registration and marketing.