Approved prospectus

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED

STATES, CANADA, AUSTRALIA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE

DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Reference is made to stock exchange release dated 23 December 2010 regarding the

completed private placement in Biotec Pharmacon ASA ("Biotec Pharmacon" or "the

Company"). Biotec Pharmacon has received approval from the Financial Supervisory

Authority of Norway (Finanstilsynet) on the following prospectus:

Listing of 3,500,000 Shares on Oslo Børs, each with a nominal value of NOK

1.00, issued in connection with an already completed Private Placement at a

subscription price of NOK 6.30 per share, raising gross proceeds of NOK

22,050,000.

This prospectus serves as a listing prospectus and no shares or other securities

are being offered or sold in any jurisdiction pursuant to this prospectus. The

new shares are expected to be listed on or about 7 January 2011, following the

registration of the new shares. The new shares issued in the private placement

can not be traded until the new shares have been issued.

Date of prospectus: 5 January 2011.

The prospectus is available at Biotec Pharmacon, Strandgata 3, N-9008, Tromsø,

Norway, from 7 January 2011.

The prospectus is also available at www.biotec.no and www.sebenskilda.no

Svein W. F. Lien, CEO

Mobile: +47 92 28 93 23

Arvid Vangen, VP Finance & Administration

Phone: +47 77 64 89 12

Mobile: +47 95 03 87 94

About Biotec Pharmacon:

Biotec Pharmacon is a biopharmaceutical company that develops and manufactures

new immunomodulatory products and cold adapted marine enzymes. The company

focuses on new and effective solutions within wound care, cancer therapies and

other immune related disease areas, and aspires to become a leading supplier of

novel enzymes for diagnostics and genetic research.

[HUG#1477393]

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