Aerocrine Reports Record Sales for the 4th Quarter and Full Year 2014

In advance of the EGM we are issuing top line results for Q4 and the full year
in anticipation of the publication of the rights offering prospectus on January
12th.  Our full year end results are scheduled to be published on February 20th.

January – December 2014

  · Net sales increased by 22% to 166 (136)* MSEK.
    · Net sales for clinical use of NIOX products were 129 (102)* MSEK, an
increase of 26%
    · Strategic sales (sales to pharmaceutical companies and CROs for clinical
trials) were 33 (27)* MSEK, an increase of 20%
    ·

  · Total tests sold (repeat and initial) were 2.5 (2.0) million tests, an
increase of 25%

October – December 2014

  · Net sales increased by 41% to 50 (36)* MSEK
    · Net sales for clinical use of NIOX products were 36 (26)* MSEK, an
increase of 39%
    · Strategic sales were 13 (8)* MSEK, an increase of 57%
    ·

  · Total tests sold (repeat and initial) were 0.7 (0.5) million tests, an
increase of 40%

*Note all numbers in ( ) are the corresponding period previous year and in the
same unit.

CEO’s Comments on Q4 2014 Sales

“In terms of topline results, Q4 2014 represents the best fourth quarter in the
Company’s history.  Additionally, with strong consecutive quarters in Q2, Q3 and
Q4, the YTD results represent the best full year sales performance ever.  All
areas of the business contributed to the success in Q4 and for the full year:
Europe/RoW, U.S. Clinical, Strategic Sales, and Asia/Pacific.

Our European/RoW business continues strong double digit growth with 27% growth
for Q4 and 21% growth for the full year as compared to the corresponding periods
in 2013.

Growth for Q4 in the U.S. was 19% and for the full year was -2% as compared to
the corresponding periods in 2013.  Our US team demonstrated increased
productivity as well as increased repeat test sales which is a key indicator of
the underlying health of our business. Extensive change to the marketing and
sales efforts early in the year resulted in lower sales in the first half of
2014. As previously communicated the productivity of the new sales model and all
its attributes was anticipated to start materializing after Q2 and those results
have been apparent in the second half of the year.

The Asia Pacific region has exhibited exceptional performance with growth of
161% for Q4 and 164% for the full year, as compared to the corresponding periods
in 2013, with Japan as a key contributor.  With the re-registration of NIOX MINO
in China, we expect to return to growth in that market but it will take some
time to re-establish the selling cycle.  Our consumable sales continue to grow
in China.

Strategic sales finished the year with a very strong performance driven by
additional clinical studies starting up and commencement of shipments that had
been delayed due to slow trial initiation.

We are very pleased with the development of our sales performance during the
year and believe we have a strong foundation for continued growth in the coming
quarters" said Aerocrine's President and CEO, Scott Myers.”

For further information, please contact:

Scott Myers, President and CEO: +46 768 788 379 or +1 970 368 0336,or:

Marshall Woodworth, CFO: +46 709 695 219 or + 1 919 749 8748

www.aerocrine.com or www.niox.com

For case-studies on how FeNO assists in the daily practice to set correct
diagnosis and initiate correct medication please visit:
http://www.niox.com/en/

 The information herein is published in accordance with the Swedish Securities
Markets Act and/or the Swedish Financial Trading Act. This information was
submitted for publication on  January 7, 2015, at 8.00 a.m.