Continued Interest in Scandivir from Investors

The recent progress reported by Scandivir AB, subsidiary to Scandinavian Clinical Nutrition AB (SCN) has attracted interest from several potential investors. SCN now sells 9 percent of the company’s shares in Scandivir AB for MSEK 7.2 to an industrial investor, to further strengthen the company’s finances and enable Scandivir to continue the promising R&D work at hand.

“SCN sees great potential in Scandivir, especially given the recent progress, and therefore we are intent on securing the company’s financial situation so that we can be sure that the financial crisis won’t interfere with our R&D work”, says Ulf Söderberg, CEO of SCN.

After the transaction, SCN will own 45.2 percent of the shares in Scandivir AB.

Scandivir was established in April, 2008, by SCN and the American obesity researcher Professor Richard L. Atkinson. The company’s portfolio incorporates several important patents related to virus related diseases, of which obesity is one, as well as SCN’s patented anti-viral substance NGNA. Intensive R&D work is being done by Professor Atkinson’s company Obetech at the University of Virginia, with support from SCN’s network of researchers at Karolinska Institutet in Sweden, aiming for a release of a diagnostic test in 2009, and anti-viral treatments soon after.