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2016-10-24

Saniona AB: Saniona and Upsher-Smith extend research collaboration

PRESS RELEASE

October 24, 2016

Saniona, a leading biotech company in the field of ion channels, today
announces that Saniona and Upsher-Smith, through its wholly owned subsidiary,
Proximagen Ltd., have extended their ongoing drug discovery and development
collaboration. Saniona expects to report US$ 0.85 million (about SEK 7.5
million) in revenues under this agreement in 2017 comprising a mixture of
maintenance fee and research funding.

"The program has progressed well over the last ten months and Proximagen has
already now informed that they would like to continue the research part of
our collaboration during 2017. The partnership represents a true
collaboration between two strong research teams for the potential development
of innovative treatment options in neurology," said Jørgen Drejer Ph.D., CEO
of Saniona.

Saniona and Upsher-Smith Laboratories, Inc., through its wholly-owned UK
subsidiary Proximagen, entered into this drug discovery and development
collaboration in the beginning of 2016. The collaboration is based on a
unique Saniona ion channel program and focuses on research of new small
molecule therapeutics for neurological disorders, using Saniona's expertise
in ion channels and related technology platforms. Proximagen has exclusive
worldwide rights to develop, manufacture and commercialise medicines
identified through the collaboration.

Under the terms of the agreement, Saniona has received upfront and research
funding during the research period. Furthermore, Saniona will receive
milestone payments upon the achievement of certain research, development and
regulatory milestones. The potential value of the milestone payments is up to
US$30 million. In addition, Saniona will receive tiered royalties on net
sales of any potential products commercialised by Proximagen as a result of
this collaboration.

"Through this collaboration we are supporting one of our business objectives
of financing a part of the company's research efforts by entering into
partnership agreements with pharmaceutical companies. A research and
development collaboration such as this, with Proximagen and its parent
company Upsher-Smith, which has a focus on developing therapies for people
living with serious central nervous system (CNS) conditions, complements our
internal proprietary product development efforts utilizing our unique ion
channel platform," says Jørgen Drejer Ph.D., CEO of Saniona.

For more information, please contact

Thomas Feldthus, EVP and CFO, Saniona, Mobile: +45 2210 9957,
E-mail:tf@saniona.com

This information is information that Saniona (publ) is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact person set out above, at 10:40
CET on October 24, 2016.

About Saniona

Saniona is a research and development company focused on drugs for diseases of
the central nervous system, autoimmune diseases, metabolic diseases and
treatment of pain. The company has a significant portfolio of potential drug
candidates at pre-clinical and clinical stage. The research is focused on ion
channels, which makes up a unique protein class that enables and controls the
passage of charged ions across cell membranes. Saniona has ongoing
collaboration agreements with Boehringer Ingelheim GmbH, Upsher-Smith
Laboratories, Inc., Productos Medix, S.A de S.V and Saniona's Boston based
spinout Ataxion Inc., which is financed by Atlas Venture Inc. and Biogen Inc.
Saniona is based in Copenhagen, Denmark, where it has a research center of
high international standard. Saniona is listed at Nasdaq First North Premier
and has about 4,400 shareholders. Pareto Securities is Certified Advisor for
Saniona. The company's share is traded under the ticker SANION. Read more at
www.saniona.com.

About Proximagen

Since 2012, Proximagen has been a wholly-owned subsidiary of Upsher-Smith.
With an integrated drug discovery facility based in Cambridge, UK, Proximagen
acts as Upsher-Smith's research and early development institute. Proximagen
and its predecessor companies have a long heritage in discovery and
development of novel small molecules, in particular in the areas of CNS, pain
and inflammation.

About Upsher-Smith

Upsher-Smith Laboratories, Inc., founded in 1919, is a growing, fully
integrated pharmaceutical company dedicated to its mission of delivering
high-value, high-quality therapies and solutions which measurably improve
individuals' lives. As a family-owned pharmaceutical company, Upsher-Smith is
able to adapt and thrive in a dynamic healthcare environment. Our world is
constantly evolving, and Upsher-Smith is continually adapting to the
ever-changing needs of patients, physicians, pharmacists, and healthcare
organizations. Where there is a need, Upsher-Smith will work to deliver
solutions that simplify access to treatment, deliver better health outcomes,
and enhance life. Upsher-Smith has a particular focus on developing therapies
for people living with central nervous system (CNS) conditions, such as
seizure disorders. For more information, visit www.upsher-smith.com.

All trademarks used or mentioned in this release are protected by law.

20161024 - PR - Proximagen extension - UK
http://hugin.info/172499/R/2050766/767194.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: Saniona AB via Globenewswire

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