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2016-11-23

Bionor Pharma ASA: Bionor Pharma announces restructuring and continuation of the HIV research activities

(Oslo, 23 November 2016)

Bionor Pharma ASA (OSE: BIONOR) announced in the Q3 2016 Financial Report on
16 November 2016 that all preparatory activities of the planned clinical
program are on hold and that the company has initiated a strategic review of
Vacc-4x, and the clinical development plan to ensure it is up to date going
forward. Bionor has engaged a group of highly experienced international HIV
scientific, clinical and commercial experts to propose updated development
plans going forward. This process is currently ongoing and is done in close
collaboration with the company. The same expert group has been engaged in
strategic partnership assessment once the strategic review process is
concluded.

On 21 November 2016 Bionor Pharma announced (the "Announcement") that the
company has entered into an agreement to acquire the entire share capital of
Solon Eiendom AS for a total consideration of approximately NOK 1,000 million
settled by issuing 6,666,666,666 new shares in Bionor Pharma ASA at NOK 0.15
per share to the sellers of Solon Eiendom, Alden AS, Dukat AS, Hortulan AS,
John Galt Invest AS, MRD Holding AS and Solon AS. Bionor Pharma will in
connection with the Acquisition change its name to Solon Eiendom ASA. The
transaction is conditional on approval by the shareholders (the
"Acquisition"), see further information in the Announcement.

In connection with the above mentioned Acquisition the Bionor Board of
Directors have decided to move the HIV research activities and employees to
the fully owned subsidiary Bionor Immuno AS and change the company's name to
Bionor Pharma AS. All HIV related Intellectual Property is already owned by
Bionor Immuno AS. The Board has further decided that Unni Hjelmaas shall be
appointed as Chief Executive Officer. Per S. Thoresen will continue as
Chairman of the Board of Bionor Immuno AS. The changes are conditional on and
will be effected following completion of the Acquisition.

"I look forward to continue working with the Bionor team and the external HIV
experts to define the Vacc-4x clinical development plan and assess strategic
partnership opportunities", says Unni Hjelmaas, acting CEO Bionor Pharma.

Bionor Pharma AS will continue to pursue scientific activities. At the NIH HIV
Cure Meeting Nov. 14-16, the company presented a poster featuring data from
several Vacc-4x clinical studies to emphasize the importance of including an
immunotherapy that can lead to immune-mediated removal of HIV-infected cells
as part of a combination approach towards functional HIV cure. Furthermore
publications are in writing and grants applications have been filed. Bionor
Pharma believe that people living with HIV should have multiple options.

For more information, please contact:

Einar J. Greve
Chairman of the Board, Bionor Pharma ASA
E-mail:ejg@cipriano.no

Cell Phone: +47 900 27 766

Unni Hjelmaas
Acting Chief Executive Officer, Bionor Pharma ASA
E-mail:uh@bionorpharma.com

Cell Phone: +47 915 19 651

About Bionor
Bionor's mission is to enable the immune system to fight HIV infection. Bionor
is the first company, which has successfully completed a clinical trial using
the shock and kill approach, thereby creating a strong foundation for further
advancing its therapeutic vaccine Vacc-4x in combination with other agents
towards a functional cure. The company believes it has first mover potential
based on clinical results to date and early adoption of the shock and kill
strategy. In December 2015, Bionor announced that the HIV trial REDUC with
Vacc-4x and romidepsin successfully met its primary endpoint by reducing
latent HIV reservoir and further demonstrated control of viral load. Bionor
currently retains full ownership rights to the HIV immunotherapy Vacc-4x,
i.e., the upside potential from partnering or licensing remains with the
company's shareholders. Bionor is listed on Oslo Børs (OSE: BIONOR). More
information about Bionor is available atwww.bionorpharma.com.

Bionor_SEA20161123_AnnouncesRestructuringHIV-research
http://hugin.info/131219/R/2058705/771583.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Bionor Pharma ASA via Globenewswire

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