Interim report January – March 2005

• Sales in the first quarter 2005 amounted to 72.0 MSEK (87.0) • The operating result for the first quarter amounted to –22.2 MSEK (22.7) • The result after tax for the first quarter amounted to -13.5 MSEK (-21.2) • Earnings per share for the first quarter amounted to –0.21 SEK (-0.37) • During the first quarter Biotage announced its intention to acquire the reagents and process instruments business of the American company Argonaut Technologies Inc. The purchase price amounts to 145 MSEK (21.2 MUSD). This will give Biotage additional sales of approx. 125 MSEK. The acquisition must receive final approval by a general meeting of the shareholders in Argonaut Technologies Inc. Through the acquisition Biotage will get a complete product portfolio in microwave synthesis, purification systems and reagents. • This interim report has been prepared in accordance with International Financial Reporting Standards (IFRS) and is the first financial report prepared by Biotage according to IFRS. A brief description of the transition to IFRS and its effects is presented separately.

Sales developed considerably slower in the first quarter than expected. However, the order intake increased compared to last year. Group sales decreased by a total of 15.0 MSEK in the first quarter 2005 compared to the same period last year. We believe that the company’s strong market position has been maintained in spite of lower sales during this quarter. Business Area Discovery Chemistry had sales of 54.5 MSEK, compared to 64.4 MSEK the first quarter last year. The order intake increased by 18 percent compared to the same period last year to 64 MSEK, however. The first quarter saw a slower development than expected and compared to last year. The weak sales were due above all to the fact that some key customers released their budgets at the end of the first quarter, while others indicate that they will release their funds in the second quarter. Business Area Biosystems achieved sales of 17.5 MSEK, compared to 22.6 MSEK the first quarter last year. The decrease is explained by a 4.9 MSEK decrease in the sales of Corbett’s products. This sales drop is primarily due to the fact that Biosystems discontinued the distribution of these products in Europe at the turn of the year. Sales of the Pyrosequencing products are stable and remain at the same level as last year.