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2016-05-10

Nuevolution: Nuevolution AB (publ) announces its quarterly results for the third quarter 2015/16

Stockholm, 10 May 2016. Nuevolution AB (publ) announces its interim
report for the third quarter 2015/16. The report is available on the
company's home page (www.nuevolution.com). The following is taken
from the quarterly report.

Third quarter summary

· During third quarter of the fiscal year 2015/16, additional
pre-clinical studies in Nuevolution's ROR?t inverse agonist
(inhibitor) program came out with positive results for its lead
candidate.

· In February 2016, Nuevolution announced that it will receive a
milestone payment of USD 2.0 million from its collaboration with
Novartis, which started in January 2014.

· In March 2016, the company announced that the European Patent
Office has issued four new patents to Nuevolution related to the
Chemetics® platform.

· Danish Maritime and Commercial High Court (Sø- og Handelsretten)
decided that Nuevolution cannot contest the questions regarding
inventorship and ownership of the patents in the case against Henrik
Pedersen and Chemgene Holding ApS. Nuevolution disagrees with the
Court's decision and has been allowed appeal of this question to the
Eastern High Court (Østre Landsret). Other questions in the case
including Nuevolution's right for a US continuation application has
not yet been decided.

· Group revenues for the third quarter of 2015/16 amounted to SEK
6.0 million (4.3). First nine months: SEK 18.2 million (24.2) from
technology platform agreements.

· In the third quarter of 2015/16, the group recorded an operating
loss of SEK 21.7 million (-18.7). First nine months: SEK -75.2
million (-43.1) and SEK -60.4 million excluding IPO costs.

· The group's net loss in the third quarter of 2015/16 was SEK 20.9
million (-16.8). First nine months: SEK -70.3 million (-34.7) and SEK
-55.5 million excluding IPO costs.

· Earnings per share (EPS) was SEK -0.49 for the third quarter of
2015/16 (-0.72). First nine months: SEK -2.05 (-1.52) and -1.62
excluding IPO costs.

· Net cash at the 31stof March 2016 was SEK 210.8 million (SEK 67.8
million).

· Events that have occurred for Nuevolution AB (publ) since the end
of the reporting period: In April 2016, the company announced that
Janssen Biotech has used its option to expand the collaboration with
Nuevolution, thereby providing Nuevolution with a further payment of
USD 0.6 million.

"The third quarter of 2015/16 progressed satisfactory both with
regards to our R&D activities and with our upcoming partnering
activities. Furthermore, the expansion of the agreement with Janssen
Biotech and USD 2 million additional milestone from our collaboration
with Novartis, continue to confirm the value of our technology and
approach to the discovery of new medicines in areas of unmet medical
need", CEO Alex Haahr Gouliaev commented.

On Tuesday 10 May at 14:00 CET, the company's executive management
will host a conference call and webcast discussion of the results and
provide an update on the pipeline programs and partnering activities.
Access to the event can be obtained as follows:

LIVE access on Tuesday 10 May at 14:00 CET

Telephone numbers:

SE: +46 85 664 2669

DK: +45 8233 3178

UK: +44 20 3008 9808

US: +1 855 7532 235

Webcast available at www.nuevolution.com in the Investors section and
at: www.financialhearings.com

REPLAY access

Webcast replay will be available on Nuevolution's website at
www.nuevolution.com in the Investors section and at
www.financialhearings.com

For more information, please contact:

Alex Haahr Gouliaev, CEO

Phone: +45 70 20 09 87

Email: ahg@nuevolution.com

Henrik D. Simonsen, CFO

Phone: +45 39 13 09 47

Email: hs@nuevolution.com

About Nuevolution

Nuevolution AB (publ) is a leading small molecule drug discovery
biotech company founded in 2001, and headquartered in Copenhagen,
Denmark. Nuevolution partners its discovery platform and programs
with pharmaceutical and biotechnology companies to seek future
benefit of patients in need of novel medical treatment option.
Nuevolution's internal programs are focused on therapeutically
important targets within inflammation, oncology and immuno-oncology.

Nuevolution AB (publ) is required to disclose the information provided
herein pursuant to the Securities Markets Act and/or the Financial
Instruments Trading Act. The information was sent for publication on
10 May 2016, 9.00 (CET).

Nuevolution AB (publ) is listed at Nasdaq First North in Stockholm,
Sweden (ticker: NUE). Västra Hamnen Corporate Finance AB acts as
Certified Advisor to Nuevolution AB (publ). More information about
Nuevolution can be found on www.nuevolution.com

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http://news.cision.com/nuevolution/r/nuevolution-ab--publ--announces-its...
http://mb.cision.com/Main/13526/2005558/513306.pdf

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