Interim Report January-March 2010

Financial information January-March • Consolidated net sales amounted to SEK 703k (120k) • Consolidated operating loss amounted to SEK 2,336k (loss: 3,373k). • Consolidated net loss for the period amounted to SEK 2,372k (loss: 4,466k). • Earnings per share for the period amounted to SEK –0.1 (-0.29). • Comprehensive loss for the period amounted to SEK 2,372k (loss: 4,089k). • Cash flow from current operations SEK 702k (-4,498k) • Cash flow after investment SEK 702k (-4,516k)

First quarter highlights •Net sales during the first quarter increased by100 % compared to the same period 2009. Although the turnover is still low the number of cutomers increased. •Genovis is participating in the LUPAS project, where the EU is investing almost SEK 50 million in research to diagnose and treat Alzheimer's disease and prion diseases (e.g., Creutzfeldt-Jakob disease). Underpinning the project, which is an EU seventh framework programme, is the discovery of a luminescent molecule that signals when it encounters the disease-causing plaque in the brain. Linköping University is coordinating the project and to date Genovis has received SEK 1.4 million for the initial efforts. Part of Genovis turnover is research support and will be distributed over the year. LUPAS (Luminescent Polymers for in vivo imaging of Amyloid Signatures), www.lupas-amyloid.eu Important recent events •The subscription rate for Genovis’ rights issue was 68% and existing shareholders subscribed to 88% of the total proceeds. The rights issue raised SEK 16.7m for Genovis before issue expenses, which means an increase in the number of shares from 24,589,839 to 41,337,227 and an increase in share capital from SEK 9,835,935.6 to SEK 16,534,890.8. The capital provided by the new share issue shall be used for the Company’s business operation and will primarily be invested to reinforce the Company’s sales organization, to launch new products from the protein portfolio, and in infrastructure for the production of nanoparticles. •Genovis received SEK 600,000 from LMK Industri AB in research support for the Sentinel node project. The Sentinel node project, a collaborative effort with the Department of Radiophysics at Lund University Hospital, is based on a brand new generation of nanoparticles with combined magnetic, radioactive, and fluorescent properties for MRI/PET imaging. The Swedish Research Council previously granted Genovis a four-year position for an industry-based doctoral student for the Sentinel node project, which for 2010 entails approximately SEK 400,000 over the course of the year. •At the Immunology 2010 conference in the United States Genovis presented new findings that facilitate and improve production and quality control of substances such as antibody-based drugs. The results are based on a study carried out in cooperation with Lund University. The study shows that the combination of two unique products from Genovis’ protein engineering portfolio is highly advantageous in mass spectroscopy of antibody molecules. The new method is faster, more reliable, and improves the analysis compared with existing technology. CEO comments In March we signed an agreement for the EU LUPAS project, marking the formal kickoff for a project that began some time ago with the actual application process. It was truly rewarding that these efforts were successful. Working with a strong research team is extremely stimulating. The same applies to the Sentinel Node project, a unique interdisciplinary project. We will have the opportunity to learn as well as an outstanding opportunity to market our nanostructures directly to the various partners we meet in the project and via the scientific articles generated during the course of the project. Full financing for the projects also reduces our costs for research projects. During the period we continued to work with our subsidiary, Eijdo Research, on development of products and services within the multimodal nanoparticles product group and contract services within preclinical imaging. The products in the protein portfolio have expanded with a brand new application that we recently presented at a scientific conference together with our American distributor Bulldog Bio. The application is aimed at a new customer group and we are looking forward to the launch. Sales of all products in the protein portfolio continue to increase, though volumes are still modest. This trend has been stable over the past twelve months and we plan to intensify our efforts to continue to increase the sales rate. With respect to nanoparticles, we will primarily market them to academic customers and research projects in 2010 and subsequently complement them with new applications and services. Sales of nanoparticles will mainly occur via direct selling to end customers. Although the rights issue carried out in April was not fully subscribed it brought the company financial stability. Now we can focus our full attention on operational activities and our targets for at least 18 months moving forward and I am very pleased by the support from our shareholders. Lund May,18 Sarah Fredriksson