External financing of SEK 165 million secured for Q-Med’s oxalate project

Through a recently completed transaction Q-Med became the sole owner of a project that aims to reduce oxalate-based kidney stones, which occur primarily in children with a congenital liver defect and patients with intestinal disease. The project is now entering a new, exciting phase which requires focused efforts to be successful. A product company, OxThera AB, has been formed for this purpose, and the project has received a financial injection of SEK 165 million via a new share issue directed at the risk capital companies Health Cap and SLS Venture (Scandinavian Life Science Venture). Q-Med AB now owns just over 19% of OxThera AB. Jon Heimer, previously in charge of the oxalate project within Q-Med, is the CEO of OxThera. Jon thereby leaves his employment at Q-Med. “Through this deal, the projects can be carried on and sales of the children’s products can be begun as early as in a few years. Kidney stones lead to a great deal of suffering in those affected and there are no effective preventive treatments today. OxThera’s patent-protected technology has already demonstrated promising effects in clinical pilot studies. As the market for the treatment of kidney stones is outside Q-Med’s core business, a commitment from external backers is highly desirable. In this way resources are secured for important product development and for Q-Med’s basic business. I look forward to resuming cooperation with Health Cap and getting to know SLS Venture, two of Sweden’s most successful companies in their line of business,” says Bengt Ågerup, President and CEO of Q-Med. Queries should be addressed to: Bengt Ågerup, President and CEO, Tel: + 46 (0)70-974 90 25 Anne Rhenman, Director Investor Relations and Corporate Communications, Tel: + 46 (0) 70-974 90 15 NASHA, DUROLANE, ZUIDEX, IMPLACER, DEFLUX and all the products within the RESTYLANE family are trademarks that belong to Q-Med. In the US, Q-Med AB´s affiliate is the wholly-owned subsidiary Q-Med Scandinavia, Inc.