Tripep raises SEK 24 million through a rights issue

The Board of Directors of Tripep AB (publ.) has resolved to convene an Extraordinary General meeting to be held on 19 December, 2007 in order to present, as previously announced, a proposal for a new issue. The new issue will be a rights issue and will raise SEK 24.1 million excluding costs, which are estimated to SEK 1.9 million. The subscription of the new issue has been fully secured through subscription undertakings and guarantee agreements.

Background
The capital from the rights issue secures the continuation of the phase I/II study of
ChronVac-C® and the initiation of the phase II study of ChronSeal and start GMP manufacturing of ChronVac-B. The capital raised will make it possible for the company to continue its operations to the third quarter of 2008. Further capital may be raised through the warrants if the company’s value develops positively. This capital raised through the warrants will be used to the further development of these projects and furthermore gives the company an operating reserve.

Rights issue
The Board of Directors proposes the following terms and conditions for the new issue
• The number of shares to be issued shall not exceed 48,260,870
• The subscription price shall be SEK 0.50 per share
• Each existing share shall entitle to subscription for one new share
• For each subscribed share a warrant will be received at no cost. Two warrants entitle the holder to subscribe for one new share at SEK 1.00 during the period 1 April, 2008 – 30 September, 2009. A maximum of 48,260,870 warrants will be issued, which will entitle to subscribe for a maximum of 24,130,435 shares. If all warrants are exercised the Company will raise another approx. SEK 24.1 million.
• The subscription of the new issue is fully secured through subscription undertakings and guarantees issued by Erik Selin Fastigheter AB, Rutger Smith and Thomas Lynch.

Time plan for the new issue
• Last day for trading in the share including the right to participate in the new issue is 7 January, 2008
• The record date is 10 January 2008
• A prospectus is expected to be announced around 21 December, 2007.
• The period for subscription with pre-emption rights is 16 – 30 January, 2008
• Trading in subscription rights takes place during the period 16 – 25 January, 2008
The notice of the EGM is attached to this press release.


For more information, please contact:

Jan Nilsson, CEO, Tripep AB
Tel: +46 8 449 84 80, mobile phone: +46 70 466 31 63
E-mail: jan.nilsson@tripep.se

Anders Vahlne, Head of Research, Tripep AB
Tel: +46 8 5858 1313, mobile phone: +46 709 28 05 28
E-mail: anders.vahlne@ki.se