Board of Directors sets terms for rights issue

NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA,
JAPAN, HONG KONG, SINGAPORE, SOUTH AFRICA, SWITZERLAND OR THE UNITED STATES OR
IN ANY JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

     Shareholders in Swedish Orphan Biovitrum AB ("Sobi" or the "Company") as of
  *  the record date 5 May 2011 have preferential rights to subscribe for one
     new common share for every four shares held

  *  The subscription price is SEK 12 per share, which represents total rights
     issue proceeds of approximately SEK 637 million

     First day of trading in the Sobi share, excluding subscription right, will
  *  be 3 May 2011. The subscription period runs from and including 11 May
     2011, up to and including 26 May 2011

     The rights issue is fully covered by subscription undertakings by major
  *  shareholders in Sobi and underwriting undertakings by Carnegie Investment
     Bank and Svenska Handelsbanken

  *  The rights issue is subject to approval by the Annual General Meeting,
     which will be held on 28 April 2011

The Board of Directors has now determined the terms, including the subscription
price, for the rights issue that was decided on 28 March 2011. The rights issue
is subject to approval by the Annual General Meeting, which will be held on
Thursday 28 April 2011. For every share held in Sobi on the record date 5 May
2011, the holder is entitled to one subscription right. Four subscription rights
entitle the holder to subscribe for one new common share in Sobi. The
subscription price is SEK 12 per share which implies that the rights issue, if
fully subscribed, will raise approximately SEK 637 million for Sobi, before
transaction costs. No more than 53,045,319 new common shares may be issued,
whereby the share capital may be increased by not more than approximately
SEK 29,105,800.

First day of trading in the Sobi share, excluding subscription right, will be 3
May 2011. The record date at the Swedish Central Securities Depository,
Euroclear Sweden AB, for participation in the rights issue is 5 May 2011. The
subscription period will run from and including 11 May 2011, up to and including
26 May 2011, or such later date as decided by the Board of Directors.
Subscription rights not exercised during the subscription period will be void
and have no value. Subscription rights will be tradable on NASDAQ OMX Stockholm
from and including 11 May 2011 up to and including 23 May 2011.

Allotment of shares subscribed for without the exercise of subscription rights,
will firstly be allotted to those that also have subscribed for shares by
exercising of subscription rights (in case of oversubscription, in proportion to
the number of subscription rights used for subscription of shares), secondly, to
others that have applied for subscription of shares without exercising
subscription rights (in case of oversubscription, in proportion to the number of
shares that each has applied to subscribe for without exercising subscription
rights), and thirdly to the guarantors in proportion to their respective
underwriting commitments.

Indicative timetable for the rights issue

28 April 2011           Annual General Meeting of shareholders to decide on the
                        rights issue resolved by the Board of Directors

3 may 2011              First day of trading in the Sobi share, excluding
                        subscription right

5 May 2011              Estimated date of publication of the prospectus

                        Record date for participation in the rights issue, i.e.
                        shareholders registered in the share
5 May 2011              register of Sobi as of this date will receive
                        subscription rights for participation in the rights
                        issue

11 May-23 May 2011      Trading in subscription rights

11 May-26 May 2011      Subscription period

On or about 1 June 2011 Announcement of preliminary outcome

Commitments and underwriting
The shareholders Investor AB and Bo Jesper Hansen (the Chairman of the Board of
Directors) have undertaken to subscribe for their respective pro rata shares of
the rights issue, corresponding to approximately 44 per cent of the rights
issue.

The remainder of the rights issue, corresponding to approximately 56 per cent
is, subject to customary terms and conditions, underwritten by Carnegie
Investment Bank and Svenska Handelsbanken. In addition, CEO Kennet Rooth also
intends to subscribe for his pro rata share.

Financial and legal advisors
Carnegie Investment Bank and Handelsbanken Capital Markets are Joint Lead
Managers and Joint Bookrunners in the rights issue. Mannheimer Swartling is
acting as legal advisor to Sobi, and Linklaters is acting as legal advisor to
the Joint Lead Managers.

For additional information, please contact
Kennet Rooth, CEO
Telephone: +46 8-697 20 00

The above information has been made public in accordance with the Swedish
Securities Market Act and/or the Financial Instruments Trading Act. The
information was released for public distribution on 27 April 2011 at 8.30 a.m.
CET.

IMPORTANT INFORMATION

The information in this press release is not intended for distribution,
publication or public release, directly or indirectly, in or into Australia,
Canada, Hong Kong, Japan, Singapore, South Africa, Switzerland, the United
States or any other jurisdiction where the distribution of this press release
may be unlawful. The distribution of this announcement may be restricted by law
in certain jurisdictions and persons into whose possession any document or other
information referred to herein comes should inform themselves about and observe
any such restriction.

The information in this press release is not an offer to sell or a solicitation
to buy shares. This press release is not a prospectus under the Prospectus
Directive 2003/71/EC. A prospectus will be prepared and published in accordance
with the Prospectus Directive and will thereafter be made available by the
Company. Investors shall not subscribe for securities referred to in this press
release other than on the basis of the information which will be included in
such prospectus.

The information in this press release does not constitute or form a part of any
offer or solicitation to purchase or subscribe for securities in the United
States. The securities mentioned herein have not been, and will not be,
registered under the United States Securities Act of 1933 (the "Securities Act")
or under the securities laws of any state or other jurisdiction in the United
States, and may not be offered or sold in the United States, except pursuant to
an exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. There will be no public offer of securities
in the United States.

The information in this press release may not be forwarded or distributed to any
other person and may not be reproduced in any manner whatsoever. Any forwarding,
distribution, reproduction, or disclosure of this information in whole or in
part may be prohibited. Failure to comply with these instructions may result in
a violation of the Securities Act or the applicable laws of other jurisdictions.

This press release may contain forward-looking statements. Words such as
"expect", "believe", "estimate", "plan" and "forecast" in this press release are
intended to indicate forward-looking statements. These forward looking
statements reflect the current expectations on future events of the management
at the time such statements are made, but are made subject to risks and
uncertainties. All these forward-looking statements are based on the
expectations and assumptions of the management and are deemed reasonable but
uncertain and difficult to predict. Actual outcomes and results may differ
significantly from the forward looking statements. The Company does not intend,
nor undertakes, to update any such forward looking statements.