Announcement no. 08

Interim Financial Report for Q2 2010 for the BioPorto Company

Summary of Q2 2010

The NGAL Test is in the final phase of the upscale-to-production process and everything is proceeding as planned towards the launch in early 2011. It was possible to maintain growth in product sales in Q2 2010, which is also why BioPorto is able to report an upwards adjustment in the sales forecast for 2010.

·Revenues increased by 27% in Q2 2010 to DKK 3.41 million (DKK 2.68 million) for an overall growth rate of 23% in the first six months of 2010, compared to the first six months of 2009.

·The loss for Q2 2010 was DKK -2.99 million (DKK -4.84 million).

·The NGAL Test, BioPorto’s renal injury immunoassay, is being scaled up. This is expected to be completed in the beginning of Q4, after which the test will be validated. BioPorto has initiated dialogue with manufacturers of clinical chemical analyzers regarding the adaptation of the immunoassay to their respective analyzing systems.

·Preparations for the launch of the NGAL Test in early 2011 are in progress, and initial distribution agreements were concluded with national distributors in August. Concurrent with the conclusion of these agreements, BioPorto initiated partnerships with global diagnostics market players for the immunoassay’s adaptation and validation, as well as support and distribution.

·Mayo Medical Laboratories (Rochester, Minnesota, USA) offers BioPorto’s NGAL Test for the diagnosis of acute renal injury, a move which helps to cultivate the market for the NGAL Test. At the same time, the cutoffs patented by BioPorto are supported by Mayo’s validation and utilization of NGAL.

·In early August, the European Patent Office published objections submitted against the NGAL cutoff patent issued for Europe. In the assessment of the Group’s patent consultant, the objections will not have damaging effects on BioPorto’s rights, meaning that the patent situation is unchanged.

·Today, the Board of Directors has decided to extend the capital resources through an issuance of convertible bonds up to DKK 20 million. At the time of the decision, a subscription of DKK 10.35 million is guaranteed.

Product sales forecasts for 2010 are being raised and financial forecasts are upheld

·BioPorto is raising its product sales growth forecast to around 20-30% (compared to 15–25% previously) and revenues are thus expected to be DKK 13–14.5 million (compared to 12.5–14 million previously) not including income from licensing sales.

·Without licensing income, a net loss of around DKK 14–15 million is still expected for 2010.

In terms of the Group’s IP rights to the NGAL measurement method, BioPorto expects to enter into agreements concerning other vendors’ use of these for developing and marketing the NGAL Test in assay formats other than homogeneous. The first agreement is expected in 2010.