Moberg Derma Raises SEK 40M in a New Issue to Finance the Company's Continued Expansion

The Swedish pharmaceutical company Moberg Derma, which focuses on skin diseases, has completed a new issue generating SEK 40 million (EUR 4,3 million). The issue has been subscribed by a new private investor and the current principal owner, the Baltic Sea Foundation (Östersjöstiftelsen). Including this new issue, the company has raised SEK 73 million (EUR 8 million) since its founding in March 2006.

“We are very pleased with the interest investors have shown in Moberg Derma despite the harsh market climate. This new issue provides a strong basis for the company’s continued expansion. We have strengthened the group of investors and also secured capital for a period after completion of our ongoing phase III programs,” says Peter Wolpert, CEO of Moberg Derma.

Moberg Derma is developing several dermatological pharmaceuticals based on the patented Kaprolac® principle. The company is currently conducting two phase III clinical trials: K101 against nail fungus (onychomycosis) and K301 against seborrheic dermatitis. The results of the studies are anticipated in the second half of 2008.

The company is planning to initiate clinical trials during 2009 for a third product candidate, K201 against atopic dermatitis, and to evaluate other product candidates this year to expand the project portfolio.

Contact: Peter Wolpert, CEO Telephone: +46 (0)8-522 307 00 Mobile phone: +46 (0)70-735 71 35 E-mail: peter.wolpert@mobergderma.se

For more information, please visit our website www.mobergderma.se

About Moberg Derma Moberg Derma AB develops dermatological pharmaceuticals to treat common skin diseases. The company has two products in phase III clinical trials – K101 which is a topical treatment for nail fungus and K301 which is a cortisone-free treatment for seborrheic dermatitis of the scalp. Moberg Derma intends to outlicense rights to Kaprolac® in markets outside the Nordic region. The company was founded in March 2006 with the objective of commercializing products based on the Kaprolac® principle invented by Dr. Sven Moberg, a Swedish specialist in dermatology and mycology. Dr. Moberg worked for 15 years developing treatments for common skin diseases that are difficult to treat. His work led to two patent families and more than ten product candidates. The company’s patent rights also cover cosmeceuticals and products for chemotechnical applications.