Q-Med has received 60 MUSD from Oceana Therapeutics LLC

The American anti-trust authority has not expressed any objections to the sale of Q-Med’s American subsidiary, Q-Med Scandinavia, Inc. to Oceana Therapeutics, LCC. This means, amongst other things, that Oceana Therapeutics now has the global rights to market and sell the products Deflux® and Solesta™ and that Q-Med AB has received the first payment of 60 MUSD. Oceana has taken over business operations in the USA and will gradually take over the remaining markets during 2009. The previously described transaction between Q-Med and Oceana will generate an additional payment of 15 MUSD when Solesta is approved in the USA. Provided that certain sales targets are met, Q-Med may receive further milestone payments of up to a total of 45 MUSD. Oceana will also pay a royalty for the licensing rights based on the net sales of the products. The parties will share future costs for the clinical development of Solesta in the USA. Queries should be addressed to: Per Langö, Senior Director Corporate Development Tel: +46 (0)73-387 15 21 Alexander Kotsinas, Vice President and CFO Tel: +46 (0)73-500 1111