VBX-1000 (MIV-701) is the first specific cathepsin-K inhibitor, for the treatment of periodontal disease in dogs. During the early development of a selective cathepsin-K inhibitor, MIV-701 was discovered to have properties suitable for non-human animal use and it was out-licensed to Vetbiolix in 2019 to explore clinical utility in non-human animal.

In the study conducted by Vetbiolix, the drug was well tolerated and the primary efficacy endpoint was met, achieving a statistically significant reduction of the plasma biomarker for bone degradation (CTX1). Vetbiolix is now working with experts in the field to set up a regulatory Pilot clinical study to further strengthen the demonstration of the effects of VBX-1000 (MIV-701) in a double blind, randomized, placebo-controlled clinical trial in dogs.

As part of the agreement with Vetbiolix, Medivir is entitled to minor development and regulatory milestone payments with value upside potential coming from future royalty payments on net sales and/or share of partnering payments received by Vetbiolix in case of future partnering transactions with VBX-1000.

-          "Partnering and collaborations are important parts of Medivir's business model to accelerate the development of all assets and reduce financial risk. MIV-701 is another example of the company's ability and track-record in out-licensing to generate additional value for shareholders. The positive results of the Proof-of-Concept study are also a testament to the quality of research performed by Medivir and add yet another molecule to the number of candidates that have been shown to provide clinical benefit" says Jens Lindberg, Chief Executive Officer at Medivir.

For additional information, please contact;

Magnus Christensen, CFO, Medivir AB

Telephone: +46 8 5468 3100.

E-mail: magnus.christensen@medivir.com

About Medivir

Medivir develops innovative drugs with a focus on cancer where the unmet medical needs are high. The drug candidates are directed toward indication areas where available therapies are limited or missing and there are great opportunities to offer significant improvements to patients. Medivir is focusing on the development of fostroxacitabine bralpamide (fostrox), a smart, targeted chemotherapy designed to selectively treat liver cancer cells and to minimize side effects. Collaborations and partnerships are important parts of Medivir's business model, and the drug development is conducted either by Medivir or in partnership. Medivir's share (ticker: MVIR) is listed on Nasdaq Stockholm's Small Cap list. www.medivir.com.

About Vetbiolix

Vetbiolix develops innovative products for the treatment and prevention of diseases affecting pets. Vetbiolix has built a unique pipeline of First-in-class small molecules in-licensed (exclusive and worldwide license) from Human Biotech worldwide which will answer to veterinary unmet medical needs in periodontitis, osteoarthritis and gut motility disorders. Vetbiolix focuses exclusively on clinical developments of its drug candidates: the company invests on (i) clinical proof of concept studies, (ii) CMC-Pharmaceutical developments, (iii) regulatory Pilot clinical studies and (iv) regulatory Pivotal clinical studies. Revenue generation of the company will be based on out-licensing and/or co-developments deals with the Veterinary Pharmaceutical Industry. www.vetbiolix.com