Orexo signs exclusive worldwide license agreement for a novel formulation

Orexo signs exclusive worldwide license agreement for a novel formulation

Uppsala, Sweden, 28 August, 2009 - Orexo (STO: ORX) announces it has signed an
exclusive worldwide licensing agreement with a Novartis affiliate to develop and
commercialise a novel product related to Orexo's OX17 program.  

Under the terms of the agreement, Novartis will fund all future development of
the new product and will receive an exclusive license to all related
intellectual property.  Orexo will receive milestone payments upon major
development achievements, and will be eligible for further milestone payments
upon the attainment of certain sales targets.  In addition, Orexo will receive
royalties on future sales of the product.  The agreement's financial terms were
not disclosed.

Torbjörn Bjerke, President and CEO of Orexo, commented “Our development
collaboration with Novartis, one of the finest healthcare companies in the
world, has been outstanding and I am now very pleased to extend this to a full
licensing agreement for the new product.  This agreement is potentially an
important step towards Orexo becoming a sustainable profitable pharmaceutical
company. We are convinced that Novartis will make the new product a success.”


- Ends -

For more information, please contact: 
Torbjörn Bjerke, President and CEO, Orexo
Tel: +46 (0) 708-66 19 90
E-mail: torbjorn.bjerke@orexo.com

Johan Andersson, Investor Relations Manager, Orexo 
Tel: +46 (o) 702-10 04 51 
E-mail: johan.andersson@orexo.com


Notes to Editors 

About Orexo
Orexo is a pharmaceutical company focusing on developing treatments for pain and
inflammation. The company has four products on the market as well as a
competitive product portfolio in late stages of development. Sales and product
development are mainly carried out through worldwide partnership agreements with
larger pharmaceutical companies. Orexo has 128 employees, and has its head
office located in Uppsala, Sweden. More information can be found at
www.orexo.com.

Product portfolio 
Commercialized products with distribution- and marketing agreements

Product	                        Indication	                            Status
AbstralTM                        Breakthrough cancer pain	          Marketed in
EU, Phase III in US and Japan Partnered with: ProStrakan, Gedeon Richter,
Hospira, Kyowa Hakko Kirin, Neopharm and NovaMed
EdluarTM	                        Insomnia	                             FDA
approved, launched in the USA Partnered with Meda
Diabact® UBT / Heliprobe®System   Diagnosis - Helicobacter pylori	  Marketed in
EU and other territories*
*Marketed through Kibion AB, subsidiary of Orexo

Partnered development projects
Product	                 Indication	             Development phase	   
Partner(s)
OX-NLA                    Rhinitis	             Phase III-ready	    Meda
OX-MPI                    Pain, inflammation	    Pre-clinical development  
Boehringer Ingelheim
OX17	                 Certain disorders	    Phase II/III	             Novartis

Prioritized projects for which licensing discussions have begun
Product	                 Indication	              Development phase
OX914                     COPD/Asthma	     Phase II
Arachidonic Acid Franchise
(OX2477/OX-CLI)            Asthma/COPD	     Pre-clinical
OX641	                  Migraine	              Pre-clinical
OX-PKX	Various projects using the PharmaKodex platform	Formulation

Projects with potential for further development
OX219	                  Opioid addiction	      Ready for clinical studies
OX30                       Chronic pain	      Pre-project

More information can be found at www.orexo.com.  

Note:
This is information that Orexo AB (publ) is required to disclose pursuant to the
Swedish Securities Markets Act. The information was provided for public release
on August 28, 2009 at 08:00 CET.