Serendex Pharmaceuticals A/S : The Rights Issue in Serendex Pharmaceuticals A/S was fully subscribed

Reference is made to stock exchange announcements by Serendex Pharmaceuticals A/S in connection with the approved prospectus for the Rights Issue dated 10 December 2015 and the supplement prospectus for the Rights Issue dated 21 December 2015.

The Subscription Period for the Rights Issue ended Monday 4 January 2016 at 16.30 hours (CET).

The Rights Issue was fully subscribed. Sorana A/S who had irrevocably committed to subscribe shares in the Rights Issue, has subscribed 86 percent of the new shares and other existing Shareholders have subscribed around 14 percent of the new shares.

The Rights Issue resulted in gross proceeds of NOK 111.8 million through the issuance of 149,045,985 new shares at a price of NOK 0.75 per share. Based on the exchange rate as of 5 January 2016, this corresponds to net proceeds of DKK 82.8 million before redemption of debt, and DKK 22.8 after redemption of DKK 60.0 million of debt. Following redemption of debt, Serendex will have sufficient working capital until the end of May 2016. Therefore, the company will, as stated in the prospectus for the Rights Issue, continue to investigate opportunities and terms for entering into strategic partnerships or mergers and/or licensing agreements that will strengthen Serendex's financial position. In addition, the company will investigate opportunities for receiving additional debt or equity financing.

« We are happy about the support our shareholders have shown us in this rights issue. The debt redemption and the capital increase will revitalize our efforts to establish a more long term financial solution for Serendex going forward. Meanwhile, our two ongoing clinical studies of GM-CSF for pulmonary alveolar proteinosis (PAP) and acute respiratory distress syndrome (ARDS) proceed without delay», says Kim Arvid Nielsen, CEO of Serendex.

The subscribers who were allocated shares will receive a letter confirming the number of shares allocated and the corresponding amount to be paid by each subscriber. The letters will be distributed today. Payment for the allocated shares falls due on 8 January 2016.

The new shares may not be transferred or traded before they are fully paid, the share capital increase pertaining to the Rights Issue has been registered with the Danish Business Authority (Erhvervsstyrelsen) and the new shares have been registered in the VPS. All dealings in the new shares prior to the registration of the new shares in the VPS will be at the sole risk of the parties concerned. It is expected that the share capital increase will be registered in the Danish Business Authority on or about 13 January 2016 and that the new shares will be transferred to the VPS accounts of the subscribers on the same day.

Following the registration of the new share capital with the Danish Business Authority, Serendex will have 164,101,135 shares outstanding, each with a nominal value of DKK 0.10.

The Receiving Agent under the Rights Issue is Norne Securities, Oslo Office, Haakon VIIs gate 9, 0161 Oslo, Norway.

For download 06 January 2016 Result of the Serendex rights issue

For further information, please contact :

Nadia Vega Vasiljev, Head of Comm/IR
E-mail: [e-mail]
Mobile: [phone]

or

Kim Arvid Nielsen, CEO
E-mail: [e-mail]
Mobile: [phone]

About Serendex Pharmaceuticals A/S

Serendex Pharmaceuticals develops drugs to treat severe respiratory conditions such as PAP (pulmonary alveolar proteinosis) and ARDS (acute respiratory distress syndrome). These conditions are acute or chronic and have no existing medical treatment. All Serendex drugs are inhaled or induced to the lungs of the patient. This improves the risk/efficacy ratio of the drug and treatment. Serendex has obtained orphan drug designation (ODD) for several indications in both Europe and USA. The company's sole business focus is drug repositioning, i.e. finding new indications and administration routes for existing drugs. Serendex Pharmaceuticals is listed on Oslo Axess. Please visitwww.serendex.com to learn more.