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2016-01-27

Bionor Pharma ASA: Key information relating to the conditional repair issue to be carried out by Bionor Pharma ASA

BIONOR PHARMA ASA

STOCK EXCHANGE ANNOUNCEMENT

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES

Key information relating to the conditional repair issue to be carried out by
Bionor Pharma ASA

(Oslo, Norway, 27 January 2016) Reference is made to the Company's
announcement regarding completion of a private placement published earlier
today. The private placement is conditional upon approval by the shareholders
in an extraordinary general meeting (the "EGM") to be held on 11 February
2016, see separate announcement published 21 January 2016.

The Board has proposed to complete a subsequent repair offering to existing
shareholders who did not receive allocation in the private placement
following completion of the private placement, see further details in the
notice of the EGM. Such repair offering is also subject to shareholder
approval. Further, the repair issue is subject to a prospectus being approved
by the Norwegian Financial Supervisory Authority and published by the
Company. All details about the repair issue will be set out in the
prospectus, expected to be published on or about 16 February 2016.

Key information in relation to the conditional repair issue:

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| Date on which the terms and conditions of the repair issue were announced: 27 January 2016 |
| Last day including right: 26 January 2016 |
| Ex-date: 27 January 2016 |
| Record date: 28 January 2016 |
| Date of approval: 11 February 2016 |
| Maximum number of new shares: 44.4 million (final number to be determined on the basis of the VPS list on 28 |
| January 2016 reflecting the shareholders on 26 January 2016 and announced on |
| 29 January 2016). |
| Subscription price per share: NOK 0.71 |
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This information is published in accordance with the requirements of the
Continuing Obligations.

Further information

David Horn Solomon, President and CEO, +45 22 20 63 00, dhs@bionorpharma.com
Jens Krøis, CFO, +45 20 80 16 68, jk@bionorpharma.com
Jørgen Fischer Ravn, VP Investor Relations&Communications, +45 20 30 39 03,
jfr@bionorpharma.com

About Bionor

Bionor Pharma is a Norwegian biopharmaceutical company focused on advancing
its proprietary therapeutic vaccine Vacc-4x in combination with other
medicines toward a functional HIV cure. The company believes it has first
mover potential based on clinical results to date and early adoption of now
recognized clinical strategy. In December 2015, Bionor announced that the HIV
'Shock&Kill' trial REDUC with Vacc-4x and romidepsin successfully met its
primary endpoint by significantly reducing latent HIV reservoir and further
demonstrated control of viral load. Bionor is currently planning BIOSKILL, a
proof-of-concept Phase II trial, which may lead to a major value inflection
point and partnering opportunities. Bionor currently retains full ownership
rights to Vacc-4x, i.e., the upside potential from partnering or licensing
remains with the company. Bionor is based in Oslo, Norway, and also has
offices in Copenhagen, Denmark and New York, USA. Bionor is listed on Oslo
Børs (OSE:BIONOR). More information about Bionor is available
atwww.bionorpharma.com.

Important information:
The release is not for publication or distribution, in whole or in part
directly or indirectly, in or into Australia, Canada, Japan or the United
States (including its territories and possessions, any state of the United
States and the District of Columbia).

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act. It is issued for information
purposes only, and does not constitute or form part of any offer or
solicitation to purchase or subscribe for securities, in the United States or
in any other jurisdiction. The securities mentioned herein have not been, and
will not be, registered under the United States Securities Act of 1933, as
amended (the "Securities Act"). The securities may not be offered or sold in
the United States except pursuant to an exemption from the registration
requirements of the Securities Act. The Company does not intend to register
any portion of the offering of the securities in the United States or to
conduct a public offering of the securities in the United States. Copies of
this announcement are not being made and may not be distributed or sent into
Australia, Canada, Japan or the United States. The issue, exercise, purchase
or sale of subscription rights and the subscription or purchase of shares in
the Company are subject to specific legal or regulatory restrictions in
certain jurisdictions. Neither the Company nor the Manager assumes any
responsibility in the event there is a violation by any person of such
restrictions.

The distribution of this release may in certain jurisdictions be restricted by
law. Persons into whose possession this release comes should inform
themselves about and observe any such restrictions. Any failure to comply
with these restrictions may constitute a violation of the securities laws of
any such jurisdiction. The Manager is acting for the Company and no one else
in connection with the Private Placement and will not be responsible to
anyone other than the Company for providing the protections afforded to their
respective clients or for providing advice in relation to the Private
Placement and/or any other matter referred to in this release.

Repair issue - Key information
http://hugin.info/131219/R/1981487/726049.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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

HUG#1981487

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