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Regarding speculations in Swedish media

(Oslo, Norway, 4 November 2010) At 13:38 today the Oslo Stock Exchange suspended trading in “BIONOR” based on price developments stemming from speculations in Swedish media regarding the future of Vacc-4x.

Bionor Pharma has today been made aware of reports from the Swedish media beQuoted where CEO Hans Arvidsson of Swedish Eurocine AB comments on a research project on intra-nasal administration of Vacc-4x. This communication has not been authorized or cleared with Bionor Pharma ASA.

Bionor Pharma wishes to emphasize that the project in question is primarily a project to study vaccine boosters (adjuvants). The project is not lead by Bionor Pharma. The sponsor of the project is Oslo University Hospital (UUS) with funding from the Norwegian Research Council (Forskningsrådet) as part of the GLOBVAC program (a vaccine research project). The funding for the project was authorized in February 2007. The project has yet to enter into its clinical phase. Neither Bionor Pharma nor Eurocine AB are financing the project but will contribute with vaccines and adjuvant if the project is implemented.

Adjuvants are added to Bionor Pharma’s vaccines to increase their immunogenicity and efficacy. The most common adjuvants are aluminum salts (alum) and are generally considered safe.

Bionor Pharma will communicate to the market if the research project referred to in the Swedish press today is indeed initiated and Vacc-4x is used in combination with new adjuvants.