Orexo enters research agreement with AstraZeneca for respiratory disease program

Orexo AB (Orexo) announced today that the company has entered into an agreement
with AstraZeneca regarding OX-CLI, a preclinical program for a potential novel
treatment of respiratory diseases. Under this agreement, Orexo grants to
AstraZeneca rights to conduct further preclinical research and evaluation of
compounds in Orexo’s OX-CLI program. AstraZeneca also has an option to acquire
the compounds pertaining to the program subject to a full asset transfer
agreement being executed by the parties, under which Orexo will receive
development milestones and royalties on future revenues.

“Our OX-CLI program is a promising R&D project, which has potential to improve
the treatment of respiratory diseases for millions of patients. AstraZeneca, a
leading global company within the inflammatory and respiratory area, is the
optimal partner for OX-CLI and we look forward to see the project advancing. ”
says CEO Anders Lundström.

For further information, please contact:
Anders Lundström, President and CEO
Tel: +46 706-67 22 66, E-mail: anders.lundstrom@orexo.com

About Orexo
Orexo is an emerging specialty pharma company developing improved treatments
using proprietary drug delivery technology. Orexo’s expertise is within the area
of reformulation technologies and especially sublingual formulations. The
company has a portfolio of revenue-generating US and EU approved products
currently marketed under license and a pipeline of several reformulations of
approved compounds for areas of unmet medical need. Orexo also has collaboration
projects with several international pharma companies. Orexo AB, with its
headquarters in Sweden, is listed on NASDAQ-OMX. The largest shareholders are
Novo A/S and HealthCap.

For more information about Orexo please visit www.orexo.com.

Orexo is required under the Financial Instruments Trading Act to make the
information in this press release public. The information was submitted for
publication at 08:40am CET on January 25, 2013.