The first volunteer has received the vaccine that is a combination of a viral vector encoding a malaria antigen developed by Oxford mixed with Matrix-M™.

The Jenner Institute is a leader in the development of several new vaccines many of which are in phase II clinical development. Isconova and Jenner Institute have a strategic collaboration, where the lead project focuses on the development of a malaria vaccine with a high level of efficacy. Each year, over 200 million people are affected by malaria, with almost 700 thousand deaths from the disease in 2010 alone1 . There are currently no malaria vaccines available on the market.

Sven Andréasson, CEO of Isconova AB, commented;

“The approval to initiate this study represents another validation of quality for Isconova. The study is the fourth phase I study to be initiated with Matrix-M™, the diverse diseases targeted by the studies demonstrate the broad potential of Matrix-M™ adjuvant in human vaccines. We are proud to collaborate with Jenner Institute and very pleased that they have selected Matrix-M™ to be an important part of their malaria program.”

Prof Adrian Hill, Director of the Jenner Institute, commented;

“It has proven very challenging to develop a vaccine against malaria and lots of different approaches have been tested. After a thorough evaluation of several adjuvants pre-clinically, we selected Matrix- M™ for this program based on the strong immune responses elicited in these preclinical studies and new findings on its suitability for use with viral vectored vaccines. This trial represents an important opportunity to test the use of a potent adjuvant with this type of vaccine in the clinic.”

The phase I study will include approximately 25 volunteers and is planned to be completed by mid- 2013. The study aims to evaluate the safety and immunogenicity of the malaria vaccine candidate. The trial is sponsored by the University of Oxford and receives funding support from the National Institute for Health Research Oxford Biomedical Research Centre at The Oxford University Hospitals NHS Trust and the University of Oxford.

Provided that the development will be successful and lead to a partnership with a vaccine company for future commercialization, future revenues will be shared between the partners.

For more information, please contact:

Sven Andréasson, CEO of Isconova, phone +46 701 60 60 60, e-mail: sven.andreasson@isconova.com

About Isconova

Isconova AB is a leading international vaccine adjuvant company. Isconova has deep knowledge of vaccine systems, and the company develops novel vaccines together with partners in the human and veterinary markets. The first vaccine using Isconova’s Matrix technology was launched in the veterinary market in 2006. In the human vaccine market, a number of vaccines are under development with Isconova’s third generation nano-particle, Matrix-M™. The Company is headquartered in Uppsala, Sweden.

Isconova AB is listed on NASDAQ OMX First North (ticker: ISCO). Pareto Öhman AB is the Company’s Certified Adviser.

www.isconova.com

About Matrix-M™

Matrix-M™ is Isconova’s patented adjuvant product for use in human and veterinary vaccines, antibody production and immunological research.

About adjuvants

Adjuvants enhance the efficacy of a vaccine or drugs while maintaining safety. Adjuvants increase the vaccine's ability to produce antibodies and induces a cellular response that is important for modern vaccines.

About The Jenner Institute

The Jenner Institute is a research partnership between the University of Oxford and the Institute for Animal Health. The Institute focuses on the parallel development of human and veterinary vaccines against major global diseases – from early-stage research through to clinical trials. www.jenner.ac.uk

About The National Institute for Health Research

The National Institute for Health Research (NIHR) is funded by the UK Department of Health to improve the health and wealth of the nation through research. Since its establishment in April 2006, the NIHR has transformed research in the NHS. It has increased the volume of applied health research for the benefit of patients and the public, driven faster translation of basic science discoveries into tangible benefits for patients and the economy, and developed and supported the people who conduct and contribute to applied health research. The NIHR plays a key role in the Government’s strategy for economic growth, attracting investment by the life-sciences industries through its world-class infrastructure for health research. Together, the NIHR people, programmes, centres of excellence and systems represent the most integrated health research system in the world. For further information, visit the NIHR website www.nihr.ac.uk. The views expressed in this news release are those of the authors and not necessarily those of the NHS, the NIHR or the Department of Health.