Idogen announces outcome of exercise period for warrants of series TO 5

The board of directors of Idogen AB ("Idogen" or "the Company") today announces the outcome of the exercise of warrants of series TO 5 (“Warrants”), which were issued in connection with the Company's rights issue of units which was announced the 17 of December 2021 (“the Rights issue”). The subscription rate was 1.1 percent and Idogen receives approximately SEK 280 thousand before issue costs.

Idogen issued a total of 16,478,910 units in the the Rights issue, each unit containing three (3) shares and six (6) Warrants. Three (3) Warrants entitled the holder to subscribe for one (1) new share in the Company at a subscription price corresponding to eighty (80) percent of the volume weighted average price during the period August 29 to September 9, 2022, however not lower than SEK 0.77 per share. The volume weighted average price for the Company’s share during the period amounted to 0.38 SEK. Therefore, the exercise price was established to 0.77 SEK per share. The exercise period started on September 15, 2022 and ended on September 29, 2022. The outcome shows that approximately 1.1 percent of the outstanding Warrants were exercised, corresponding to 1,092,384 excersied Warrants for 364,128 shares in Idogen. Exercised warrants have been replaced with interim shares pending registration with the Swedish Companies Registration Office. The conversion of interim shares into shares is expected to take place within approximately two (2) weeks, e.g. around 10-14 October 2022.

Through the exercise of Warrants, the Company receives approximately SEK 280 thousand before issue costs. The number of shares in Idogen increases by 364,128 shares, from 72,507,205 shares to 72,871,333 shares. The share capital increases with SEK 25,488.96, from SEK 5,075,504.35 to SEK 5,100,993.31.

“Idogen thanks the shareholders who show their support for the Company by exercising their TO 5 to purchase new shares despite the current market climate. We are now making the final preparations for the inclusion of first patien in the clinical study with the ItolIDC-028 within the IDO 8 program in patients with hemophilia who have developed antibodies, which is expected to begin shortly", says Christina Herder, acting CEO of Idogen.

Lund, October 3, 2022

Idogen AB (publ)

For further information, please contact:

Christina Herder, acting CEO, Idogen AB

Phone: +46 (0)70374 71 56

Email: christina.herder@idogen.com

The information was submitted for publication, through the agency of the contact person set out above, on October 3, 2022 at 18.01 a.m. CEST.

Certified Adviser

Vator Securities AB, Kungsgatan 34, SE-111 35 Stockholm

Email: ca@vatorsec.se.

Tel: +46 (0)8-580 065 99

Idogen's (Nasdaq First North Growth Market: IDOGEN) unique technology platform enables the development of various tolerogenic cell therapies with the potential to restore the immune system's tolerance to counteract its attacks against, for example, biological drugs, transplanted organs or the body's own tissue. The company's most advanced program IDO 8 aims to treat hemophilia patients who have developed an unwanted immune response to their drug treatment. As previously announced, Idogen has received approval from the Swedish and Norwegian pharmaceutical authorities to conduct the first clinical phase I/IIa study with its drug candidate within the IDO 8 program in patients with severe bleeding disorders, so-called hemophilia. The company's second development program, IDO T, aims to prevent rejection of transplanted kidneys. In an additional program, IDO AID, Idogen focuses on developing treatment for various autoimmune diseases. The treatment for all indications is based on the patient's own cells and is expected to have a favorable safety profile and long-term effect. The fact that a short treatment intervention has the potential to produce a very long-lasting effect is a major health economic benefit for both patients and care units. More information about Idogen is available via https://www.idogen.com.

IMPORTANT INFORMATION

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Idogen. An offer to concerned persons to subscribe for units consisting of shares and warrants series TO 5 in Idogen has only been made through the prospectus that Idogen published on January 20, 2022.