Clavis Pharma ASA : Clavis Pharma ASA : Operational Update

          Clavis Pharma ASA : Clavis Pharma ASA : Operational Update

Oslo, Norway, 21 June 2013

Clavis Pharma ASA (OSE: CLAVIS), announces that the operational restructuring
of the Company, following the negative outcome of the CLAVELA Phase III study
announced in April, is progressing according to plan. As described in the
financial report for the first quarter 2013, Clavis Pharma has suspended any
further development activities and has taken the necessary steps to minimise
the future operating expenditure. All patients have completed treatment in the
Company's clinical trials, and the trials have been closed. As part of the
restructuring, most of the employees of Clavis Pharma will leave the Company
by 30 June. The Board is still in the process of evaluating the strategic
options for the Company, and any potential proposals will be communicated in
due course.

Clavis Pharma will have estimated net cash (cash and cash equivalents, net of
any borrowings and other liabilities) of NOK 35 - 40 million at the end of
2013. A more detailed financial update will be given in the second quarter
financial report, to be released on 28 August.

The Annual General Meeting, held on 17 June, elected Yvonne L. Sandvold as new
Board member and Synne Syrrist as new Deputy Board member. The Board of Clavis
Pharma now consists of the following members: Martin Nes (Chairman), Yvonne L.
Sandvold, Øystein Stray Spetalen and Synne Syrrist (Deputy Board member).

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Contact:

Gunnar Manum
Acting CEO and CFO
+47 24 11 09 71
+47 95 17 91 90 (mob)
gunnar.manum@clavispharma.com

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

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Source: Clavis Pharma ASA via Thomson Reuters ONE
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