SOURCE: Active Biotech

March 28, 2007 02:36 ET

Early repayment of Active Biotech's convertible loan

LUND, SWEDEN -- (MARKET WIRE) -- March 28, 2007 -- The Board of Directors of Active Biotech decided in February 2007 to exercise the entitlement to request premature repayment of a convertible loan raised in 2004 through the issue of the 2004/2009 convertible debentures.

Outstanding convertible loan, after the accomplished new rights issue in February, amounted to SEK 125.5 million.

Altogether, 98.4% of the loan was converted into 3,300,115 shares.

The total number of outstanding shares after the accomplished rights issue and conversion amounts to 47,300,115.

Those holders of the convertible debentures who have not requested conversion has been repaid with the nominal amount, SEK 40 per convertible debenture, corresponding to a total repayment of approximately SEK 1.9 million.

Lund, March 28, 2007
Active Biotech AB (publ)

Sven Andréasson
President and CEO

Active Biotech AB is a biotechnology company focusing on research and development of pharmaceuticals. Active Biotech has a strong R&D portfolio with pipeline products focused on autoimmune/inflammatory diseases and cancer. Most advanced projects are laquinimod, an orally administered small molecule with unique immunomodulatory properties for the treatment of multiple sclerosis, as well as ANYARA for use in cancer targeted therapy, the primary indication being renal cancer. Further key projects in clinical development comprise the three orally administered compounds TASQ for prostate cancer 57-57 for SLE and RhuDex® for RA. In addition, the preclinical development of the I-3D project is being conducted in cooperation with Chelsea Therapeutics.

Active Biotech AB
Box 724, SE-220 07 Lund
Tel: +46 46-19 20 00
Fax: +46 46-19 20 50

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