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BIONOR PHARMA ASA – SUCCESSFULLY COMPLETED PRIVATE PLACEMENT

Oslo 05.09.2014

Reference is made to the stock exchange notice published by Bionor Pharma ASA (“Bionor” or the “Company”) on 4 September 2014 at 16:35 CET regarding the contemplated private placement (the “Private Placement”) of new shares (the “New Shares”). The Board of Directors of Bionor is pleased to announce that the Private Placement has been successfully subscribed raising approximately NOK 52.9 million in gross proceeds. The Private Placement was oversubscribed.

The book-building period for the Private Placement closed on 4 September 2014. Based on the authorisation to issue new shares granted by the AGM on 14 May 2014, the Board of Directors has resolved to increase the share capital by NOK 5,625,000 through the issue of 22,500,000 New Shares at a subscription price of NOK 2.35 per share. Total gross proceeds from the Private Placement amount to approximately NOK 52.9 million. Pursuant to a share lending agreement with Lars Høie (the "Lender"), the Managers will borrow existing Bionor shares listed on Oslo Børs from the Lender for the purpose of delivering these to the investors that are allocated New Shares in the Private Placement in lieu of the new shares against simultaneously payment for the same. Hence, investors allocated New Shares in the Private Placement will be delivered existing shares that are tradable on Oslo Børs. Settlement of the allocated New Shares is expected to take place through a delivery versus payment transaction on 10 September 2014. The 22,500,000 new shares will upon registration in the Norwegian Register of Business Enterprises be issued and delivered to the Lender as settlement of the borrowed shares. Following registration of the share capital increase pertaining to the New Shares the issued share capital of the Company will be NOK 62,081,587 comprising 248,326,348 shares with a par value of NOK 0.25.

The proceeds from the Private Placement will be used for i) initiation of detailed planning and preparation of next steps in development strategy to uphold and advance the Company’s first mover position; ii) providing the shareholders with best possible options following data readout in 2015 as well as general corporate purposes.

The Private Placement was managed by Arctic Securities AS and DNB Markets, a part of DNB Bank ASA.

For further information, please contact:

Anker Lundemose, CEO Bionor, +47 23 01 09 60
Synne H Røine, CFO Bionor, +47 99 22 98 92

About Bionor
Bionor Pharma is a leading biotechnology company, searching for breakthrough products for the treatment and prevention of life-threatening viral diseases. The Company is listed on the Oslo Stock Exchange, and is developing vaccines for viral infections. The vaccines are based on a proprietary technology platform developed following more than two decades of research into peptides, and they are designed to safely stimulate the immune system to combat viral diseases. More information about Bionor Pharma is available at www.bionorpharma.com

This publication is not for distribution, directly or indirectly, in or into the United States, nor is it an offer for sale of or the solicitation of an offer to purchase securities in the United States. Any securities referred to herein have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Copies of this publication are not being, and may not be, distributed or sent into the United States.

This information is subject of the disclosure requirements acc. to §5-12 (Norwegian Securities Trading Act).