Biohit Oyj - Company Announcement

Biohit Oyj buys a share of Norwegian Genetic Analysis AS company with a directed share issue

Biohit Oyj Stock Exchange Release January 5, 2016 at 3:30 pm local time (EET)


Biohit Oyj and Genetic Analysis AS have signed a share exchange agreement
through which Biohit Oyj acquires ownership of 18 % of shares in the company.
In addition to this the companies have signed a distribution agreement giving
Biohit Oyj a right to sell Genetic Analysis AS’s Dysbiosis Test globally under
the Biohit brand and exclusively in Finland and in China. In the future,
Genetic Analysis will also operate as a distributor to Biohit Oyj’s products
and services in Norway. 

Genetic Analysis AS is a Norwegian molecular diagnostic company with core
competence in mapping of colon microbiota i.e. microbial flora. The company has
invested significantly in product development and is expected to begin the FDA
application process for its product in 2016 in the United States. Following the
share exchange and the distribution agreement, Biohit gains a new diagnostic
test in its portfolio based on patented gene technology. With the Dysbiosis
test, an imbalance in the gut microbiota can be identified, which in turn can
be involved in major diseases (IBD i.e. inflammatory bowel disease and Crohn’s
disease). Identifying the microbiota imbalance and mapping the bacteria is, in
many diseases, key in providing successful treatment to the patient. The
Dysbiosis test is CE marked, launched and it has a marketing authorization in
Europe. 

In consideration for ownership of 18 % of Genetic Analysis AS, Biohit Oyj will
issue 350,000 pcs of new Biohit Oyj’s series B shares. These shares include a
transfer restriction ending on 30th of June 2017. However, upon fulfillment of
certain contractual conditions Genetic Analysis AS is permitted to transfer
150.000 pcs of the series B shares within one year of the fulfillment of the
condition. The shares produce the right to dividends as well as other
shareholder rights in Biohit Oyj and accordingly in Genetic Analysis AS as of
the date of the registration with the Trade Register. Biohit Oyj’s Board of
Directors has received the required issue authorization from the General
Meeting on April 14, 2014. Execution of the share exchange requires
authorization by the Genetic Analysis AS General Meeting. The registration for
Biohit Oyj series B shares is estimated to take place within two weeks after
the decision of the Genetic Analysis’ General Meeting, but no later than the
end of February 2016. 

As a result of the share issue, the total number of Biohit Oyj shares increases
to 14,698,533 shares (14,348,533) and the number of B-shares to 11,723,033
shares (11,373,033). The company's share capital remains unchanged at
2,350,350.81 euros. The new shares correspond to a 2.4% share of Biohit’s total
outstanding shares and a 0.49% share of voting rights after the registration. 

CEO Semi Korpela, Biohit Oyj: "The gut microbiota plays a central role in human
health. The Genetic Analysis Dysbiosis test complements well the Biohit product
offering. Genetic Analysis AS will benefit from Biohit’s well-established
partner and distribution network in key geographical areas such as China, while
Biohit gains a promising cutting edge technology product in its growing
portfolio.” 

CEO Ronny Hermansen, Genetic Analysis AS: “Biohit has products promoting
disease prevention and saving health care costs. Through the agreement with
Biohit, we expand our product portfolio further, secure a faster
commercialization in Eastern Europe and Asia, especially in China, and are
well-positioned for fast growth in 2016. Through Genetic Analysis, Biohit will
get a strong addition to its product portfolio, a dedicated distribution
partner in Norway for its products, and access to key competence like the
Genetic Analysis Scientific Advisory Board, consisting of key opinion leaders
within the gastroenterological field in the Nordic countries as well as Central
Europe." 



Additional information:
CEO Semi Korpela, Biohit Oyj
tel. +358 9 773 861
investor.relations@biohit.fi
www.biohithealthcare.com


Biohit in brief

Biohit Oyj is a globally operating Finnish biotechnology company. Biohit’s
mission is “Innovating for Health” – we produce innovative products and
services to promote research and early diagnosis. Biohit is headquartered in
Helsinki, Finland, and has subsidiaries in Italy and the UK. Biohit's Series B
share (BIOBV) is quoted on Nasdaq Helsinki in the Small cap/Healthcare group.
www.biohithealthcare.com 



Genetic Analysis AS in brief

Genetic Analysis has developed and launched the first bacterial gene-based
clinical test for the mapping and diagnosis of diseases related to dysbiosis
and imbalances in the digestive system. The company markets the GA-map™
technology to three market segments: commercial routine clinical testing,
pharma companies and the research market. Genetic Analysis was established in
2008 and is based on research done by Professor Knut Rudi and Nofima Mat in Ås,
Norway. www.genetic-analysis.com/

Attachments:

Additional Information.pdf