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Annual General Meeting Strengthens the Board of Directors with Financial and Regulatory Competencies

Oslo, Norway, May 15, 2013 - Bionor Pharma's shareholders appointed Algeta's CFO, Øystein Soug, and Ferring's Senior Vice President of Regulatory Affairs, Marianne Kock to the Board of Directors at the Annual General Meeting.

"We have today added extensive competence from the financial as well as regulatory areas to support our Company going forward." said Lars H. Høie, MD, PhD, Chairman, Board of Directors, Bionor Pharma.  "We are confident that the new Directors will contribute significantly with relevant knowhow to strengthen the leadership that will help guide the Company through the exciting phases of development ahead of us."

The Newly Appointed Directors are:

Øystein Soug joined Algeta in 2008. Since then, Algeta has witnessed extensive growth, with an increase in share price from approx. NOK 8 in Dec. 2008 to around NOK 200 today. Mr. Soug has in this period been responsible for building up the Finance, IR and HR functions of the Company and gained broad experience through two equity fund raisings and one large out-licensing deal to Bayer Pharma AG. Prior to Algeta, he worked six years at the Norwegian industrial group Orkla, lastly as CFO of Orkla's Russian arm, and previously within Orkla's Corporate Development division focusing on M&A and strategy. Mr. Soug started his career as a banker with Credit Suisse and with the European Bank for Reconstruction and Development. Mr. Soug received an MSc in Economics and Financial Markets from Universität St. Gallen in Switzerland in 1997. He is a Norwegian citizen and resides in Norway.

Marianne Kock joined Ferring Pharmaceuticals A/S in December 2002. She is responsible for Global Regulatory Affairs, Pharmacovigilance, and for the support functions of global archiving & library. She has considerable experience in drug development and contacts with Health Agencies world-wide. She has established a development function in Japan and has also recently set up a development function in China. In addition, she is part of the decision-making group within Ferring Pharmaceuticals. Ms. Kock is well-educated within science, business and management, and has more than 25 years of experience from a number of high-level positions in the Danish pharmaceutical industry, especially Novo Nordisk A/S. She has vast experience within discovery, development and launch of new pharmaceutical products. Furthermore, she is a member of the Management Board in Ferring Pharmaceuticals A/S, DK and is a Member of the Board of Directors of Ferring Development, US, Izvarino Pharma, Russia and Syntese A/S, DK.  Ms. Kock holds a Master's Degree in Pharmacy and an executive MBA. She is a
Danish citizen and resides in Denmark.

Based on the above appointments, the new Board consists of:
- Lars H. Høie (Chairman)
- Øystein Soug (Deputy Chairman)
- Jerome B. Zeldis (Board member)
- Benedicte Fossum (Board member)
- Marianne Kock (Board member)

Shareholders also re-elected Ivar Sigurd Eide and Lars Helmer Enger to the Nomination Committee. The Nomination Committee consists of:

-Ivar Sigurd Eide (Chairman)
-Birger Sørensen (Member)
-Lars Helmer Enger (Member)