Lipidor AB

STOCKHOLM, Sweden, 20 November 2024 – Lipidor AB (publ) (Nasdaq First North Growth Market: LIPI) today provides an update on the business from CEO Ola Holmlund, also announcing a company presentation to take place during Aktiespararna’s National Event in Stockholm next week. Statement from the CEO Due to the fact that Lipidor has switched to half-year reporting and the interim report for the third quarter has thus been discontinued, I would still like to provide the market with an update on the status of the company. Phase 3 Study Lipidor’s focus is on commercializing the drug candidate AKP02G2 and, with the implementation of a clinical Phase III study, the company is at a crucial stage of development. The main aim of the study is to compare the therapeutic effect of AKP02G2 against mild to moderate psoriasis with a market-leading product. The clinical study includes 294 patients and is being conducted in India by Cliantha Research, a reputable CRO (Clinical Research Organisation) with extensive experience in dermatological research. Development during the quarter and current status In August, it was announced that clinical trial material had been released according to plan, and in September we were able to confirm that the first patient had been included in the study. It is gratifying to see that over 90% of those screened for the study also meet the criteria for inclusion. After the first clinic started recruiting in September, several have gradually been added and there are now 11 clinics out of 15 that have started their recruitment. We would have liked to have seen a slightly faster recruitment rate, but Cliantha has prepared a detailed forecast for future recruitment, a forecast that shows continued confidence in a study result by the end of Q1 2025. Otherwise, work on the start-up has largely proceeded to plan. A potential challenge was identified around the possibility of including enough patients with lighter skin in the study, and this has since been addressed through an adjustment in the clinic selection. The winter season, which starts now, is the time when it is easiest to recruit patients because psoriasis increases significantly during this period. The next important milestone is to reach 50% of recruited patients. The third quarter started with the completion of the rights issue, through a directed share issue to the guarantors who have chosen to receive guarantee compensation in the form of shares in the company. It is the outcome of the financing process, together with the co-investment agreement with Cerbios Pharma, that has created the conditions for the work that is now being conducted. Lipidor's team continues to do its utmost to create substantial value from the efforts. The budget allocated for the implementation of the study is intact, and the implementation of the study is thus financed. We are convinced that the additional benefits for patients that AKP02G2 can be expected to provide will also mean sharp competitive advantages. Among other things, the new formulation, AKP02G2, dries even faster than its predecessor AKP02, and is therefore considered to make it even easier for patients. A PCT application that strengthens the protection of the updated formulation, AKP02G2, was submitted according to plan in October. Prospects In parallel with the study's implementation, we’re working with planning and activities linked to the next development steps, where the next focus will be the submission of a registration file. Even if Lipidor is not listed as the sender of this, it is up to us to ensure that documentation and activities on our part comply with regulations. Thus, next year will also involve focused work on AKP02G2 and associated key processes. According to the current business plan, capital injection from the warrant program TO2 and revenues, in the form of a milestone payment for approved study results, are included in the forecast for 2025. Together with RELIFE (pharmaceutical company), Aurena (manufacturing) and Cerbios (API) as strong business partners, there is an alliance that can take the company from development into the billion-dollar market for combination drugs for psoriasis. I hope that the update has given you as a reader a good picture of the company's status, operations and opportunities going forward. With confidence, Ola Holmlund CEO Company Presentation The CEO will present Lipidor at Aktiespararnas National Event in Stockholm, on 27th November at 10.30am. You are welcome to take part in person or digitally. Publication The information was provided for publication by Lipidor’s CEO on 20th November 2024 at 8.00am (CET). For more information, please contact: Ola Holmlund, CEO, Lipidor AB (publ) Telephone: +46 (0) 72 50 70 369 Email: ola.holmlund@lipidor.se The company’s Certified Adviser is Carnegie Investment Bank AB (publ). About Lipidor AB Lipidor AB (www.lipidor.se) is a pharmaceutical development company with a pipeline of pharmaceutical development projects in preclinical and clinical phases. The company can develop topical medical products for the treatment of diseases such as psoriasis, acne vulgaris, bacterial skin infections and atopic dermatitis by reformulation of proven pharmaceutical substances. Lipidor’s priority project is AKP02G2, which focusses on psoriasis. About AKVANO® AKVANO® is an innovative water-free and sprayable technology for formulating medicines and is particularly suitable for local application on, for example, the skin. AKVANO® is made up of carefully selected lipids which, together with a volatile solvent, form the carrier of selected active substances. By combining different lipids, AKVANO® can be optimized to achieve the desired function of active components in the formulation. When applied to the skin, the solvent evaporates and a thin lipid layer is formed on the skin surface for effective release of the active substance. Attachments Lipidor publishes CEO statement for the quarter: "Study results expected by the end of Q1 2025"

STOCKHOLM, Sweden, 24 September 2024 – Lipidor AB (publ) (Nasdaq First North Growth Market: LIPI) announces today that the first patient has been enrolled in the Phase III clinical study with AKP02G2. The drug candidate AKP02G2 combines calcipotriol and betamethasone and is based on Lipidor's patented AKVANO® technology. The goal of AKP02G2 is to offer a patient-friendly and fast-drying spray for the treatment of mild to moderate psoriasis with equivalent effect to the market-leading Enstilar. The clinical Phase III study is being conducted by Cliantha, the company's contracted CRO (Clinical Research Organisation), which together with Lipidor has carried out solid preparatory work to enable the start of the study according to plan. As of today, the work has resulted in the first of the 294 patients being included in the study. "It is extremely positive and an important milestone for us to have now recruited the first patient and that the clinics are ready to receive patients. We look forward to presenting the first results from the study in about six months", says Ola Holmlund, CEO of Lipidor. Lipidor will follow the recruitment closely and keep the market updated. Publication The information was provided for publication by Lipidor’s CEO on 24 September 2024 at 6.30pm (CEST). For more information, please contact: Ola Holmlund, CEO, Lipidor AB (publ) Telephone: +46 (0) 72 50 70 369 Email: ola.holmlund@lipidor.se The company’s Certified Adviser is Carnegie Investment Bank AB (publ). About Lipidor AB Lipidor AB (www.lipidor.se) is a pharmaceutical development company with a pipeline of pharmaceutical development projects in preclinical and clinical phases. The company can develop topical medical products for the treatment of diseases such as psoriasis, acne vulgaris, bacterial skin infections and atopic dermatitis by reformulation of proven pharmaceutical substances. Lipidor’s priority project is AKP02G2, which focusses on psoriasis. About AKVANO® AKVANO® is an innovative water-free and sprayable technology for formulating medicines and is particularly suitable for local application on, for example, the skin. AKVANO® is made up of carefully selected lipids which, together with a volatile solvent, form the carrier of selected active substances. By combining different lipids, AKVANO® can be optimized to achieve the desired function of active components in the formulation. When applied to the skin, the solvent evaporates and a thin lipid layer is formed on the skin surface for effective release of the active substance. Attachments Lipidor announces first patient enrolled in Phase III study of AKP02G2 for topical treatment of psoriasis

STOCKHOLM, Sweden, 28 August 2024 – Today, Lipidor AB (publ) (Nasdaq First North Growth Market: LIPI) publishes its interim report for the period January – June 2024. The report is available on the company's website lipidor.se and in the attached pdf. To read the quarterly report (in Swedish) click here: https://lipidor.se/investors/financial-reports/ Summary of second quarter Lipidor has carried out crucial activities ahead of the clinical Phase III study with the company's drug candidate (AKP02G2) for the treatment of psoriasis, with the goal of presenting study results in Q1/25. During the period, production of clinical trial material has been completed and preparations for the upcoming study start are underway together with the company's CRO. During the quarter, a rights issue was carried out that provided the company with approximately SEK 38 million before issue costs. Together with the co-investment agreement signed with Cerbios-Pharma SA of SEK 12.4 million, financing was secured to carry out the Phase III study with AKP02G2. Q2 (Apr-Jun) 2024Reporting period (Jan-Jun) 2024Net sales 0 KSEK (0) Operating income -4,985 KSEK (-3,541) Result per share prior to and after dilution SEK -0.08 (-0.13)Net sales 14 KSEK (8) Operating income -5,633 KSEK (-5,881) Result per share prior to and after dilution SEK -0.11 (-0.11) Selected financial data2024 Apr-Jun2023 Apr-Jun2024 Jan-Jun2023 Jan-Jun2023 Jan-DecNet sales, KSEK (thousand kronor)--14878Operating income, KSEK-4,985-3,541-5,633-5,881-15,454Income after tax, KSEK-5,599-3,661-5,289-3,246-11,485Total assets, KSEK24,26810,81624,26810,8162,824Cash flow for the period, KSEK22,412-3,00522,125-3,731-8,299Cash flow per share (SEK)0.31-0.100.44-0.13-0.29Cash, KSEK22,7535,19622,7535,196628Result per share prior to and after dilution (SEK)-0.08-0.13-0.11-0.11-0.40Shareholder’s equity per share (SEK)0.02-0.040.02-0.04-0.32Equity ratio, %67.13%-10.17%67.13%-10.17%-330.70% Lipidor in brief Lipidor AB (Nasdaq First North Growth Market: LIPI) (www.lipidor.se) develops medicinal products for the treatment of skin diseases with a focus on psoriasis by reformulating well-proven medicinal substances. With the lipid-based and patented formulation technology AKVANO®, Lipidor aims to develop medicines that have at least an equivalent effect to the leading original product, but which have the clear patient benefits of being quick-drying and easier to apply (sprayable) compared to existing products on the market. Lipidor AB (publ), Org. Nr. 556779-7500 is a Swedish limited company based in Stockholm. The company address is: Lipidor AB, c/o Ekonomistubben, Box 55931, 102 16 Stockholm. Significant events during Q2 (Apr–Jun) Significant events during the reporting period Significant events after the reporting period Statement from Lipidor’s CEO Dear Shareholders, I hope you have all had a wonderful summer! Lipidor's focus is on advancing our drug candidate for psoriasis, AKP02G2, through a Phase III study. This drug candidate is a so-called supergeneric, in the form of a fast-drying spray, which we are confident will provide significant patient benefits. We are very pleased that the raising of capital in the second quarter went well, and the company is now funded to conduct the clinical trial with AKP02G2. During the quarter, important investments were made in the clinical program for AKP02G2, which were initially possible partly through a credit facility of SEK 3 million from Fenja Capital (formerly Formue Nord) and partly through ongoing invoicing to Cerbios-Pharma SA under the signed co-investment agreement. After net proceeds from the rights issue were received by the company, the credit facility was repaid as well as the previously raised bridge loan from Råsunda Förvaltning AB. Lease fees for GMP-compliant production equipment have also been settled. The company's cash and cash equivalents and the co-investment from Cerbios-Pharma correspond to the financing needed to carry out the study and provide us with a study result in Q1-2025. Together with our manufacturing partner (CMO), we have manufactured both active trial material and placebo of AKP02G2, and developed the necessary analytical methods. We have also purchased the product that we have chosen to compare with in the upcoming clinical study. As previously announced, we will compare our drug candidate with LEO Pharma's Enstilar, which is the market leader for the treatment of mild to moderate psoriasis and has an attractive pricing. Enstilar is the same product that was used in the clinical study of AKP02G2's predecessor AKP02, with results presented in October 2022. Unfortunately, the goal of non-inferiority was not achieved in that study. Since then, we have put considerable effort into identifying and implementing the improvements required in the new version, to ensure optimal conditions to achieve the study objective. This is crucial for our commercial partner, Menarini, to be able to register and ultimately market a drug based on Lipidor's development. Recently we announced that study material has been sent to our CRO (Clinical Research Organisation) which means that we are keeping to the established schedule, and the material will now be distributed to the clinics in India. The work of initiating and training the staff who will run the study has begun and instructional material has been produced to ensure that Lipidor's quick-drying spray is used correctly by the patients included in the study. We aim for the first patient to start their treatment at the end of September. We will follow the study closely and ensure that resources are available to answer any questions from our CRO during the work. It will be an incredibly exciting time ahead of the study results! In addition to the study, discussions are being held with licensees in those areas that are not covered by our agreement with Menarini. Above all, the focus is on South America and the Nordic region. The ambition is to move forward in some of these conversations and to create more attractive revenue opportunities for Lipidor. I look forward to updating you as the work progresses. Stockholm, 28th August 2024 Ola Holmlund CEO Financial Calendar Lipidor has decided to shift from quarterly reporting to half-yearly reporting. Year end report 202428 February 2025Annual report 202430 April 2025AGM3 June 2025Half year report January – June 202528 August 2025 See the interim report To read the Q2 report (in Swedish) click here: https://lipidor.se/investors/financial-reports/ Publication The information was provided for publication by Lipidor’s CEO on 28th August 2024 at 8.30am (CEST). For more information, please contact Lipidor AB (Reg. No. 556779-7500) Ola Holmlund, CEO Phone: +46 725 07 03 69 E-mail: ola.holmlund@lipidor.se c/o Ekonomistubben Box 55931 102 16 Stockholm Certified adviser The company’s Certified Adviser is Carnegie Investment Bank AB (publ) Phone: +46 738 56 42 65 Email: certifiedadviser@carnegie.se About Lipidor AB Lipidor AB (Nasdaq First North Growth Market: LIPI) (www.lipidor.se) is a pharmaceutical development company with a pipeline of pharmaceutical development projects in preclinical and clinical phases. The company can develop topical medical products for the treatment of diseases such as psoriasis, acne vulgaris, bacterial skin infections and atopic dermatitis by reformulation of proven pharmaceutical substances. Lipidor’s priority project is AKP02G2, which focusses on psoriasis. Attachments Lipidor AB Delårsrapport Jan Jun 2024