Announcement no. 21

Exercise of warrants

On July 12, 2006, the Board of Directors for BioPorto A/S decided to make partial use of the authority in articles 15a and 15d of the corporate bylaws to issue warrants of 910,000 class-B shares at a nominal value of DKK 3.00 per share, i.e. for a total nominal value of DKK 2,730,000 at the market price on the date of issue, cf. Stock Exchange Announcement no. 10, of July 13, 2006, and the 2005 Annual Report.

A total of 910,000 warrants were issued, whereby each warrant entitles the holder to the purchase of one (1) BioPorto share at a price of DKK 4.66.

The warrants issued were allotted to board members, the management and the employees of BioPorto A/S and of the subsidiary AntibodyShop A/S. The total market value of the warrant program is DKK 910,000 x 4.66 = DKK 4,240,600. Seven employees of AntibodyShop A/S have jointly announced a wish to exercise options for 87,840 warrants, with a nominal value of DKK 263,520, in return for a cash payment of DKK 409,334.40.

Increase of the capital stock

As of today´s date, the board of directors has decided to increase the capital by the nominal value of DKK 263,520. The increase of capital is effectuated by means of the Board of Director´s exercise of the authority specified in article 15a of the corporate bylaws, according to which the Board of Directors, until September 28, 2009, is entitled, in one or several rounds, to increase the capital stock by issuing new common shares at a nominal value of up to DKK 493,363,769, of which, in connection with the two direct placements and the conversion of bonds, 13,861,933 new class-B shares have been applied for at a nominal value of DKK 41,585,799, cf. the prospectus of today’s date. After these subscriptions, and subscription in accordance with the exercised warrants of 87,840 shares at a nominal value of DKK 263,520, the Board of Directors is thus authorized to increase the capital stock by an additional nominal value of DKK 451,514,450, in accordance with article 15a of the corporate bylaws.

The capital stock increase is taking place without a pre-emptive right for current shareholders.

The same rights apply to newly subscribed shares as for the existing class-B shares, including full dividend for 2007. Registration with the Danish Commerce and Companies Agency will occur when the payment for new shares has taken place, at the latest by June 20, 2007, however. After this, the shares will be issued via Fionia Bank A/S. The new shares will be admitted for listing on OMX The Nordic Exchange, Copenhagen, under the existing ISIN code DK0011048619, after the capital increase has been registered with the Danish Commerce and Companies Agency and the shares have been issued.

Exercise price

The exercise price of DKK 4.66 is fixed as the market price on July 12, 2006, and has been arrived at as a weighted average of the listed price for BioPorto A/S over the past ten days of trading on OMX The Nordic Exchange, Copenhagen, on the date of the Board’s decision, i.e. July 12, 2006.

Proceeds and use of proceeds

The total proceeds from the share issue amount to DKK 409,334.40, of which transaction costs (budget maximum: DKK 25,000) must be deducted.

The proceeds will be included together with the proceeds from the capital increase implemented at the same time in accordance with the prospectus issued on June 19, 2007, and will thus be used for strengthening BioPorto’s financial base in the negotiations relating to the licensing permission for the NGAL patent. In addition, the proceeds will partly be used for supporting the expansion of the company’s new product portfolio (both for intensifying the development activities currently in progress and for the licensing of new products), but primarily for implementing a significant increase in the company’s sales and marketing activities.

Capital-stock trends and ownership dispersion

After the capital increase, the total capital stock of BioPorto A/S will amount to a nominal value of DKK 114,907,872, broken down as a nominal value of DKK 60,000 for A–class shares and a nominal value of DKK 114,847,872 for class-B shares, totaling 20,000 class-A shares and 38,282,624 class-B shares, at a nominal value of DKK 3.00 per share.

The capital increase involves an increase of 0.23% of the company´s class-B capital stock in accordance with the capital increases specified in the prospectus.

See table of the changes in capital stock in the PDF in the right hand menu

Schedule

Issuance and admission of new shares for listing on June 26, 2007.

Additional information:

Please contact Thea Olesen, Managing Director.

BioPorto A/S

Grusbakken 8

DK-2820 Gentofte

Tel.: +45 4529 0029

info@bioporto.com