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2016-05-04

Genovis AB: CONTINUED SALES GROWTH

January - March

· Net sales rose by about 32% to SEK 3,808k (2,886k).

· Comprehensive income improved by SEK 1,552k to SEK -3,454 (loss:
5,006k).

· Comprehensive income per share, basic and diluted, improved by SEK
0.14 to SEK -0.09 (-0.23).

· Cash flow from operating activities was SEK -2,498k (-4,854k).

· The Board of Directors of Genovis AB (publ) has resolved on a
rights issue subject to approval by the Annual General Meeting on May
12, 2016

· Genovis signed a strategic cooperation agreement with Alphalyse
A/S that will provide access to Alphalyse's expertise in mass
spectrometry, while Alphalyse will have the opportunity to offer its
customers analyses based on Genovis' unique enzymes for antibodies
and other pharmaceutical proteins.

Comments from Fredrik Olsson, Chief Executive Officer

Once again it is extremely encouraging to report continued sales
growth. The first quarter of 2016 is our single best quarter ever,
and sales surged by 32 percent compared with the same period last
year. This is the sixth consecutive quarter that we demonstrate
continued strong growth. The investments we made in our sales
organization, both in the US and Europe, continue to produce results
and I am particularly pleased that sales for all enzyme lines are
growing compared with the corresponding period last year. Gross
margin remained at a satisfactory level of about 90 percent.

The number of new customers and orders increased during the quarter
compared with the same period last year and I expect continued growth
of the customer base in 2016 through increased sales and marketing
initiatives.

We are also driving growth by broadening our product portfolio. We
intend to continue expanding our product selection during the year
and focus expansion of the product portfolio on our existing markets.
We will also expand into new markets where our unique enzymes have
not yet been used, but where we see clear potential.

In the first quarter, we signed a strategic cooperation agreement with
Alphalyse, a company that specializes in protein analysis by mass
spectrometry. The agreement enables us both to market our products
and to receive information about new market opportunities for our
enzymes. We will continue to build partnerships with more
stakeholders in the markets where we are active to increase the
exposure of our enzymes and thereby further increase sales.

In April, we launched a new product, GingisREX™, our first enzyme that
is not limited to analysis of antibodies, but is also suitable for
analysis of proteins in general. We received orders for the product
right from the day of the launch and our extended distribution
network enabled us to send the products to customers immediately
after the launch.

Based on developments during the first quarter and the initiatives
that we will implement during the year, I expect continued strong
sales growth in 2016.

ABOUT GENOVIS

Genovis is a global company that offers enzyme products that
facilitate development and quality control of biologics to customers
in the pharmaceutical and medical technology industries. The Company
markets several enzyme products ("SmartEnzymes") in innovative
product formats all over the world.

The organization consists of Genovis AB and the wholly owned
subsidiary Genovis Inc. in the US. Genovis Inc. handles all sales of
enzyme products on the North American market and Genovis AB handles
sales in the rest of the world. Genovis shares are listed on Nasdaq
First North Stockholm and Consensus is the Company's Certified
Adviser, t: +46(0) 31 745 50 00.

This press release is a translation of the Swedish original. In the
event of any discrepancy between this translation and the Swedish
original, the Swedish version shall prevail.

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http://news.cision.com/genovis-ab/r/continued-sales-growth,c2002228
http://mb.cision.com/Main/1712/2002228/510988.pdf

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