Swedish drug discovery company Arexis AB raises SEK 63 million

7/1/2003 6:49 AM EST

Arexis AB today announced the completion of a 63 million SEK private
placement in which Industrifonden as a new investor and major owner
joins current owners 3i, SEB Företagsinvest and InnovationsKapital also
participating in the placement.

Founded in 1999, Arexis has built a competitive drug discovery and
development organization with a focus on metabolic and inflammatory
diseases. Arexis bases its activities on proprietary technologies
elucidating genetic components of common diseases in a uniquely time and
resource efficient fashion allowing development of new drugs that are
potentially more effective and selective. Through a number of
collaboration and licensing agreements Arexis networks with several
multinational pharmaceutical and other organizations. The new capital
allows the company to reach important milestones and bring products
under development closer to market.

For more information please turn to:

Lennart Hansson, CEO (+46 31 749 11 10 or 0706/31 00 31) or Anders Vedin
(chairman of the board, phone 0708-76 15 70)

Arexis AB is a drug discovery and development company, pioneering the
use of genetics in highly selected disease models to pinpoint specific
genes involved in multifactorial metabolic and inflammatory diseases.
Founded in 1999, Arexis is dedicated to addressing unmet medical needs
and delivering improved therapies based on effective and selective new
drugs. The head office is in Gothenburg.