Aerocrine Repays Loan Due to Change in Control

On June 15, 2015 Circassia Pharmaceuticals plc (“Circassia”) announced that
92.6% of the outstanding shares of Aerocrine had been tendered in Circassia’s
public offer to the shareholders of Aerocrine and that the offer was declared
unconditional. As noted in the statement by the Board of Directors of Aerocrine
in relation to Circassia’s public offer issued on May 15, 2015, Aerocrine’s
credit agreement with ROS Acquisition Offshore LP (an affiliate of OrbiMed
Advisors LLC) and Novo A/S, dated April 29, 2013 contains change of control
provisions, giving the lenders a right to declare outstanding credit amounts due
and payable upon a change of ownership in Aerocrine along with prepayment fees
associated with such acceleration. On June 19, 2015, the lenders informed
Aerocrine that they were accelerating payment of the outstanding principal of
$35m as well as prepayment of interest and milestone payments due in the event
of acceleration in the amount of approximately $10m.  Aerocrine intends to make
the full payment of approximately $45m to the lenders within the next several
days from cash reserves.  Based on forecasted levels of cash and current
forecasts for expenses and accounts payable and accounts receivable the company
expects to have sufficient cash to operate Aerocrine until such time as
additional financing can be obtained.

Solna, June 22 2015

Aerocrine AB (publ.)

For more information about Aerocrine please contact:

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

About Aerocrine

Aerocrine AB is a medical products company focused on improved management and
care of patients with inflammatory airway diseases such as Asthma. Within this
sector, Aerocrine is the world leader. Aerocrine markets NIOX MINO® and NIOX
VERO®, which enables fast and reliable point-of-care measurement of airway
inflammation. These products play a critical role in more effective diagnosis,
treatment and follow-up of patients affected with inflammatory airway diseases.
Aerocrine is based in Sweden with subsidiaries in the US, Germany, Switzerland
and the UK. Aerocrine shares have been listed on the Stockholm Stock Exchange
since 2007 (AERO-B.ST). For more information please visit www.aerocrine.com and
www.niox.com.

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|Aerocrine is required to disclose the information provided herein pursuant to|
|the Financial Instruments Trading Act. The information was submitted for     |
|publication at 08:00 am on June 22, 2015.                                    |
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