Biotage

Interim / Quarterly Report • Aug 14, 2009

Interim report

January - June 2009

August 14, 2009

Interim report for Biotage January - June 2009

• Net sales in the second quarter increased by 10 percent to 104.4 MSEK (95.1). In the period January – June 2009 net sales increased by 11 percent to 204.0 MSEK (184.0). At comparable exchange rates sales decreased by 10 percent, in the second quarter as well as during the first six months.
• The operating result amounted to 3.7 MSEK (2.7) in the second quarter and to -15,7 MSEK (3.9) in the period January - June. Before estimated restructuring costs the operating result for the first six months amounted to 5.4 MSEK (3.9).
• The result after tax amounted to 5.7 MSEK (1.8) in the second quarter and to -15,9 MSEK (2.2) for the period January to June 2009.
• Earnings per share amounted to 0.06 SEK (0.09) in the second quarter and to -0.18 SEK (0.24) in the period January – June.
• Net cash at June 30, 2009 amounted to 334.2 MSEK.
• In the second quarter dividends to shareholders were paid to the amount of 17.7 MSEK. No shares have been acquired in the previously decided share buy-back program.
• The cash flow from operating activities amounted to -4.1 MSEK (-4.5) in the second quarter and to 16.8 MSEK (-2.8) in the period January - June.

Group result development in brief

Amounts in MSEK	2nd quarter 2009	2nd quarter 2008	Jan-Jun 2009	Jan-Jun 2008	Full year 2008	Last 12 month
Net sales	104.4	95.1	204.0	184.0	385.3	405.3
Cost of goods sold	-41.0	-41.0	-84.0	-75.8	-160.8	-169.0
Gross profit	63.4	54.1	120.1	108.2	224.5	236.2
Operating expenses	-59.7	-51.4	-135.8	-104.4	-202.0	-234.8
Operating profit/loss	3.7	2.7	-15.7	3.9	22.5	1.4
Financial items	2.7	-0.7	0.7	-1.5	5.2	7.4
Profit/loss before tax	6.4	1.9	-15.0	2.4	27.7	8.7
Tax expenses	-0.6	-0.2	-0.9	-0.2	3.5	2.8
Profit/loss after tax for continuing operations	5.7	1.8	-15.9	2.2	31.2	11.5
Profit/loss after tax for discontinued operations	-0.3	6.2	0.1	19.0	267.9	249.0
Total profit/loss for the period	5.5	8.0	-15.8	21.2	299.1	260.5

Biotage AB (publ) Kungsgatan 76 SE-753 18 Uppsala Tel: 018-56 59 00 Org. nr.: 556539-3138 www.biotage.com Sida 1 av 17

Comments by CEO Torben Jörgensen

During the second quarter no significant trend change could be observed. The financial climate continued to affect Biotage's operations and sales. We saw continued weak sales of instruments to the major pharma companies. However, Biotage continues to strengthen its position in the academic customer segment. The sales of consumables continued to be strong. Geographically the development in the US and Japan was good, while Europe and other parts of Asia had a weak quarter. During the quarter Biotage made the first sales of products in the new product area peptide synthesis.

The implementation of the structural changes that were decided at the beginning of the year continues according to plan. The operations at the company's plant in Charlottesville, Virginia, USA are being closed down. The production is relocated, partly to a contract manufacturer, partly to Biotage's own plant in Cardiff, Wales. In addition to this, the operations in the UK are consolidated to one site. When these changes have been completed the company will have a much more favorable cost structure and lower capital binding. Efficiency improvements are furthermore expected in the UK-based operations.

The operating result was negatively affected by a 10 percent decrease in sales volume, but positively influenced by currency effects, a higher gross margin and cost reductions.

During the second quarter Biotage was sued for patent infringement. The legal process is ongoing and there is currently nothing new to report and no reason to reappraise the initial analysis of Biotage's actual position.

Biotage continues to have a very strong financial position with net cash amounting to 334 MSEK which makes it possible to expand the operations. An intensive process is carried out to further improve and develop Biotage's offer. This work involves widening Biotage's present product range as well as entering into new application areas and towards new customer groups.

Biotage has during the quarter for the first time paid dividends to the shareholders. At the end of the quarter no own shares had yet been repurchased of the previously decided share buyback program.

Group result, financial position and cash flow

Second quarter 2009

Group net sales amounted to 104.4 MSEK, compared to 95.1 MSEK the second quarter 2008, an increase by 10 percent. At comparable exchange rates sales decreased by 10 percent.

The US was the largest single market with 43 percent of the net sales. The EU contributed 39 percent and the rest of the world 18 percent.

The Group's gross margin was 60.7 percent (56.9). The gross margin has improved due to a positive currency and price development and good productivity in the company's production plants.

The operating expenses, which were negatively affected by exchange rate changes, amounted to 59,7 MSEK (51.4). The increase in administration costs is explained by changed accounting

principles for the allocation of overhead costs and by increased legal costs due to the patent dispute.

The operating profit amounted to 3.7 MSEK (2.7).

Net financial income amounted to 2.7 MSEK (-0.7).

The result after tax amounted to 5.7 MSEK (1.8).

The investments amounted to 12.1 MSEK (10.0). Of this sum 7.4 MSEK (7.1) were capitalized development costs. Amortizations were made to the amount of 8.3 MSEK (6.4). Of this sum 4.0 MSEK (1.8) were amortizations of capitalized development costs.

The cash flow from operating activities amounted to -4.1 MSEK (-4.5).

January - June 2009

Group net sales amounted to 204.0 MSEK compared to 184.0 MSEK the first six months 2008, an increase by 11 percent. At comparable exchange rates sales decreased by 10 percent.

The US was the largest single market, with 41 percent of the net sales. The EU area contributed 40 percent and the rest of the world 19 percent.

The Group's gross margin was 58.8 percent (58.8).

The operating expenses, which were negatively affected by exchange rate changes, amounted to 135.8 MSEK (104.4). Here an allocation for restructuring costs for the closing of the production plant in the US and consolidation of the operations in the UK amounting to a total of 21.2 MSEK is included. The increase in administration costs is explained by changed accounting principles for the allocation of overhead costs and by increased legal costs due to the patent dispute.

The operating profit before estimated restructuring costs amounted to 5.4 MSEK (3.9). Including estimated restructuring costs the operating result was –15.7 MSEK (3.9).

Net financial income amounted to 0.7 MSEK (-1.5).

The result after tax amounted to -15.9 MSEK, compared to 2.2 MSEK in 2008.

The investments amounted to 19.6 MSEK (17.1). Of this sum 13.1 MSEK (12.2) were capitalized development costs. Amortizations were made to the amount of 17.0 MSEK (12.1). Of this sum 8.3 MSEK (3.7) were amortizations of capitalized development costs.

The cash flow from operating activities amounted to 16.8 MSEK (-2.8).

Balance sheet items

At June 30, 2009 the Group's cash and securities totaled 390.5 MSEK, compared to 405.0 MSEK at December 31, 2008. Granted, unutilized credits amounted to 64.4 MSEK compared to 73.6 MSEK at December 31, 2008. The Group's interest-bearing liabilities amounted to 56.3 MSEK compared to 46.9 MSEK at December 31, 2008. In the second quarter dividends to shareholders were paid to the amount of 17.7 MSEK.

The Group reports a total goodwill of 494.0 (487.2) MSEK at June 30, 2009. This is attributable to the acquisitions of Personal Chemistry and Biotage LLC in 2003 and the acquisitions of Argonaut and Separtis in 2005. This year's change is due to currency effects.

Other intangible assets in the form of patents and license rights amounted to 14.4 MSEK (16.3) and capitalized development costs to 49.3 MSEK (44.4).

At June 30, 2009 the equity capital amounted to 1,100.7 MSEK compared to 1,124.8 MSEK at December 31, 2008.

Divested business

The Biosystems business area was divested to Qiagen at October 2, 2008.

In the second quarter 2009 the result after tax for the divested business amounted to -0.3 MSEK (6.2). In the period January – June the profit after tax was 0.1 MSEK (19.0).

Major events

Patent dispute in the US

Biotage has, together with the wholly owned subsidiaries Biotage GB Ltd och Biotage LLC, been sued for patent infringement in the U.S. District court for the Southern District of California.

The lawsuit has been field by Scientific Plastic Products, Inc. and concerns the US patents numbers 7,138,061 7,381,327 and 7,410,571, each entitled "Flash Chromatography Cartridge". The lawsuit primarily concerns Biotage's sales of the SNAP product line in the US.

The legal process is ongoing and there is no reason to reappraise the initial analysis of Biotage's actual position. Biotage believes that the company has a strong position and that the other party lacks support for the alleged patent infringement.

Decision to repurchase own shares

The board of directors has, as previously announced, decided to launch a share buy-back program in accordance with the Annual General Meeting's resolution.

At the Annual General Meeting held on April 27, 2009 the board was authorized to decide on the acquisition and sale of the company's own shares. The shares acquired may not exceed 10 percent of the total number of the company's shares. The purpose of the buy-back program is to enable the board to adjust and improve the capital structure and thereby create increased shareholder value. Any repurchases of shares will be carried out at the Nasdaq OMX Stockholm exchange at a price within the price interval at any time recorded. Biotage does currently not own any Biotage shares and no repurchases were made during the period.

Human resources

At June 30, 2009 the Group had 269 employees, compared to 292 at the start of the year.

Parent company

The Group's parent company, Biotage AB, has wholly owned subsidiaries in Sweden, the United States, United Kingdom, Switzerland, Germany, France, Italy and Japan. The parent company is responsible for group management, strategic business development and administrative functions at Group level towards subsidiaries.

In the second quarter 2009, the parent company's net income amounted to 3.0 MSEK (2.0). In the period January - June the net income amounted to 3.0 MSEK (4.0).

A profit after financial items amounting to 4.1 MSEK is reported for the second quarter. In the first six months profit after financial items amounted to 5.4 MSEK (3.9).

The parent company's investments in intangible fixed assets during the second quarter amounted to 0.3 MSEK (0.4). In the period January – June the investments in intangible fixed assets totaled 0.7 MSEK (0.9).

At June 30, 2009 the parent company's cash and bank balance and short-term investments amounted to 361.3 MSEK, compared to 357.0 MSEK at December 31, 2008.

Risks and uncertainties

As an international Group, Biotage is exposed to various risks that affect the possibilities to achieve the established targets. There are operational risks, such as the risk that competitive situations affect price levels and sales volumes, and the risk that the economic development in the markets and segments where the Group operates is not stable. There are also financial risks, such as currency risks, interest risks and credit risks.

No major changes in significant risks or uncertainty factors have occurred during the period. A detailed account of Biotage's risks, uncertainty factors and the handling of these can be found in the company's Annual Report for 2008.

Readers wishing to study the risks and uncertainties reported in the 2008 Annual Report can download this report from Biotage AB's website www.biotage.com or order it from Biotage AB, Kungsgatan 76, SE-753 18 Uppsala or info@biotage.com.

Financial reports in 2009:

The interim report for the third quarter 2009 will be issued on October 27, 2009.

The year-end report for 2009 and the interim report for the fourth quarter 2009 will be issued on February 11, 2010.

This report has not been subject to special review by the company's auditor.

The Board and the President assure that the interim report for the first six months gives a true and fair overview of the parent company's and the Group's business, financial position and result, and describes significant risks and uncertainty factors that the parent company and the companies of the Group are facing.

Uppsala den 14 augusti 2009

Ove Mattsson Thomas Eklund Per-Olof Eriksson Chairman of the board Board Member Board Member

Staffan Lindstrand Bengt Samuelsson Mathias Uhlén Board Member Board Member Board Member

Torben Jörgensen President

For further information, please contact:

Torben Jörgensen, president and CEO, phone: +46 707 49 05 84 Mats-Olof Wallin, CFO, phone: +46 705 93 52 73

About Biotage

Biotage is a global company active in life science research with strong technologies, a broad range of operations and a long-term view of the market. The company offers solutions, knowledge and experience in the area of medicinal chemistry. In 2005 business and products from the company Argonaut were acquired, further strengthening the product range in medicinal chemistry. The customers include the world's top 30 pharma companies, the world's top 20 biotech companies, and leading academic institutes. The company is headquartered in Uppsala and has subsidiaries in the U.S., Japan, UK, Germany and several other European countries. At the end of 2008 Biotage had 292 employees and in 2008 the company had sales of 385.3 MSEK. Biotage is listed on the Nordic Stockholm stock exchange. Website: www.biotage.com

Accounting principles

The Group interim report has been prepared in accordance with IAS 34 Interim Reporting and the Swedish Accounting Act. The interim report for the parent company has been prepared in accordance with the regulations of the Swedish Accounting Act.

A great number of changes in existing standards, new interpretation statements and a new standard (IFRS 8) came into effect on January 1, 2009. As far as Biotage is concerned, the following issued standards and interpretation statements which have come into effect on January 1, 2009 have been considered relevant for the preparation of this interim report and its accounting principles:

o IAS 1: Presentation of Financial Statements

The change in this standard means that the income statement shall now also contain items that were previously reported directly against equity. Excepted are transactions with the company's owners, which also in the future normally shall be reported against equity. But items such as gains and losses arising from translating the statements of foreign operations and cash flow hedges shall be reported in the total result for the period. Biotage has chosen to present the Group's total result in a statement containing the period's result (after tax) and other total result. Furthermore, the equity statement shows transactions with the company's owner disclosed.

The changes in IAS 1 also mean that the statements in the financial reports have new designations. Income statement is now called "Statement of comprehensive income", Balance sheet is called "Statement of financial position", Equity statement is called "Statement of changes in equity", and Cash flow statement is called "Statement of cash flows". Even though IAS 1 permits companies to continue using the previous designations, Biotage has chosen to introduce the new designations starting in this interim report.

o IFRS 8: Operating segments

This standard is based on the premise that segment information shall be presented from the perspective of company management. Biotage's segment information in the financial reports was already before based on the information supplied to the chief executive officer (the president). In the financial reports issued in 2008 the Group's business was presented in three segments: "Biosystems", "Discovery Chemistry" and "Other Operations". In the fourth quarter 2008 the Biosystems segment was divested. After the buyer took possession on October 2, 2008, the Group's remaining operations comprise only Discovery Chemistry. The joint functions for the business areas, in the previous segment reporting designated "Other operations", thus no longer exist. No operating segments can now be defined according to the criteria in IAS 1 and the internal reporting to the CEO is done in unified form for the Group's companies.

In all other respects the accounting principles applied in this interim report agree with the accounting and valuation principles applied in the preparation of the Group's latest Annual Report, described on pp. 30-41 and 46-47 in the 2008 Annual Report.

Readers wishing to study the accounting principles presented in the 2008 Annual Report can download this report from Biotage AB's website www.biotage.com or order it from Biotage AB, Kungsgatan 76, SE-753 18 Uppsala, or at info@biotage.com.

Biotage AB (publ) Interim report 2009-01-01 -- 2009-06-30 STATEMENTS OF COMPREHENSIVE INCOME

	2009-04-01	2008-04-01	2009-01-01	2008-01-01	2008-01-01	2008-07-01
Amounts in KSEK	2009-06-30	2008-06-30	2009-06-30	2008-06-30	2008-12-31	2009-06-30
Net sales	104,411	95,092	204,003	184,037	385,295	405,261
Cost of goods sold	-41,002	-40,998	-83,952	-75,815	-160,838	-169,050
Gross profit	63,410	54,094	120,050	108,222	224,457	236,211
Selling costs	-35,969	-33,471	-70,528	-65,473	-142,266	-147,898
Administative expenses	-15,256	-10,533	-30,452	-20,697	-40,753	-50,693
Research and development costs	-7,999	-7,705	-16,675	-14,345	-34,646	-37,508
Other operating income	-515	299	3,046	-3,841	15,702	22,404
Other operating expenses	-	-	-21,154	-	-	-21,154
Operating expenses	-59,739	-51,411	-135,763	-104,355	-201,962	-234,850
Operating profit/loss	3,671	2,683	-15,713	3,867	22,495	1,361
FinanciaL net income	2,683	-738	697	-1,492	5,177	7,365
Profit/loss before income tax	6,354	1,944	-15,016	2,374	27,672	8,726
Tax expenses	-610	-157	-887	-181	3,498	2,792
Profit/loss after tax for continuing operations	5,744	1,787	-15,903	2,193	31,170	11,518
Profit/loss after tax for discontinued operations	-263	6,220	85	18,994	267,884	248,976
Total profit/loss for the period	5,480	8,007	-15,818	21,187	299,054	260,494
Other comprehensive income
Translation differences related to
non Swedish subsidiaries	-15,268	1,364	6,411	-21,559	29,240	57,210
Change in hedging reserve	777	1	3,050	340	-582	2,128
Other comprehensive income	-	171		805	822	12
Total other comprehensive income	-14,491	1,537	9,462	-20,414	29,480	59,350
Total comprehensive income for the period	-9,011	9,544	-6,356	773	328,534	319,844

STATEMENTS OF COMPREHENSIVE INCOME (continued)

	2009-04-01 2009-06-30	2008-04-01 2008-06-30	2009-01-01 2009-06-30	2008-01-01 2008-06-30	2008-01-01 2008-12-31	2008-07-01 2009-06-30
Attributable to parent company´s shareholders:
Total profit/loss for the period	5,480	8,007	-15,818	21,187	299,054	260,494
Total comprehensive income for the period	-9,011	9,544	-6,356	773	328,534	319,844
Average shares outstanding Average shares outstanding after	88,486,320	88,486,320	88,486,320	88,486,320	88,486,320	88,486,320
dilution	88,486,320	88,630,046	88,486,320	88,643,913	88,541,030	88,502,818
Shares outstanding at closing day	88,486,320	88,486,320	88,486,320	88,486,320	88,486,320	88,486,320
Total profit/loss for the period per share SEK Total profit/loss for the period per share SEK	0.06 kr	0.09 kr	-0.18 kr	0.24 kr	0.35 kr	0.13 kr
after dilution	0.06 kr	0.09 kr	-0.18 kr	0.24 kr	0.35 kr	0.13 kr
Total comprehensive income for the period
per share	-0.10 kr	0.11 kr	-0.07 kr	0.01 kr	3.71 kr	3.61 kr
Total comprehensive income for the period
per share after dilution SEK	-0.10 kr	0.11 kr	-0.07 kr	0.01 kr	3.71 kr	3.61 kr

Quarterly summary 2009 and 2008	2009	2009	2008	2008	2008	2008
Amounts in KSEK	Q 2	Q 1	Q 4	Q 3	Q 2	Q 1
Net Sales	104,411	99,591	108,950	92,308	95,092	88,945
Cost of goods sold	-41,002	-42,951	-46,426	-38,597	-40,998	-34,817
Gross profit	63,410	56,641	62,524	53,711	54,094	54,128
Gross margin	60.7%	57.4%	57.4%	58.2%	58.2%	60.9%
Operating expenses	-59,739	-76,024	-50,850	-46,756	-51,411	-52,944
Operating profit/loss	3,671	-19,384	11,674	6,955	2,683	1,184
Financial net income	2,683	-1,986	6,516	152	-738	-754
Profit/loss before income tax	6,354	-21,370	18,190	7,107	1,944	430
Tax expenses	-610	-277	4,201	-522	-157	-24
Profit/loss after tax for continuing operations	5,744	-21,647	22,392	6,584	1,787	407
Profit/loss after tax for discontinued operations	-263	349	242,719	6,172	6,220	12,774
Total profit/loss for the period	5,480	-21,298	265,111	12,756	8,007	13,180

STATEMENTS OF FINANCIAL POSITION

Amounts in KSEK	2009-06-30	2008-12-31
ASSETS
Fixed assets
Tangible assets	82,655	80,978
Goodwill	493,959	487,227
Other intagible assets	63,668	60,731
Financial assets	1,759	1,754
Deferred tax recoverable	42,570	42,570
Total fixed assets	684,611	673,260
Current assets
Inventory	105,353	104,224
Account receivable and other receivables	88,970	100,498
Liquid funds	390,461	404,991
Total current assets	584,784	609,713
Total assets for continuing operations	1,269,395	1,282,973
Assets for disvestment	-	16,039
TOTALT ASSETS	1,269,395	1,299,012
EQUITY AND LIABILITIES Capital and reserves attributable to shareholders
in parent comapny
Share capital	88,486	88,486
Other contributed capital	4,993	847,173
Reserves	-34,458	-43,920
Profit/loss carried forward Total equity	1,041,718 1,100,740	233,054 1,124,793
Long term liabilities
Liabilities to credit institutions	8,863	8,065
Provisions of a long-term nature	3,048	3,351
Total long term liabilities	11,911	11,416
Current liabilities
Accounts payable and other liabilities	-2,709,369	95,360
Tax liabilities	2,793,368	1,869
Liabilities to credit institutions	47,432	38,829
Provisions of a short-term nature	25,314	5,977
Total current liabilities	156,745	142,036
Total equity and liabilities for continuing operations	1,269,395	1,278,245
Liabilities for disvestment	-	20,767
TOTAL EQUITY AND LIABILITIES	1,269,395	1,299,012

STATEMENTS OF CHANGES IN EQUITY

Amounts in KSEK	Share capital	Other payed-in capital	Accumulated translation differences	Hedging- reserve	Profit/loss carried forward	Total equity
Opening balance January 1, 2008	88,486	1,513,992	-72,117	-460	-733,636	796,265
Changes in 2008:
Net income for the year 2008	-	817	29,240	-582	299,054	328,529
Sum of changes in 2008, exclusive of transactions
with company owners	0	817	29,240	-582	299,054	328,528
Transacitions with company owners Appropriation according to decision
of the annual meeting	-	-667,636	-	-	667,636	0
Closing balance at December 31, 2008	88,486	847,173	-42,877	-1,042	233,053	1,124,793
Changes in 2009:
Total comprehensive income for the period jan-jun	-	-	6,411	3,050	-15,818	-6,356
Sum of changes in 2009, exclusive of transactions
with company owners	0	0	6,411	3,050	-15,818	-6,356
Transacitions with company owners
Dividend to shareholders	-	-	-	-	-17,697	-17,697
Amounth carried over from reserve fund as per the
decision of extraordinary general meeting registred
by the Swedish Companies Registration Office
on February 10, 2009	-	-842,180	-	-	842,180	0
Closing balance June 30, 2009	88,486	4,993	-36,466	2,008	1,041,718	1,100,740

STATEMENTS OF CASH FLOW

	2009-04-01	2008-04-01	2009-01-01	2008-01-01	2008-01-01	2008-07-01
Amounts in KSEK	2009-06-30	2008-06-30	2009-06-30	2008-06-30	2008-12-31	2009-06-30
Operating activities
Profit/loss after financial items	6,354	1,944	-14,930	2,375	27,672	10,367
Adjustments for items not included in the cash flow	3,898	6,356	34,147	13,245	21,291	42,192
	10,252	8,300	19,216	15,620	48,963	52,559
Tax paid	-610	-157	-887	-181	-1,494	-2,200
Cash flow from operating activities
before changes in working capital	9,641	8,143	18,329	15,439	47,469	50,359
Cash flow from change in working capital:
Increase (-)/ decrease (+) of inventories	-1,298	5,045	-350	-4,652	-5,900	-1,598
Increase (-)/ decrease (+) of account receivables	-6,031	-9,484	5,666	1,109	9,833	14,390
Increase (-)/ decrease (+) of other current receivables	-4,519	2,213	6,985	1,552	-6,996	-1,564
Increase (+)/ decrease (-) of other liabilities	-1,924	-10,388	-13,792	-16,264	10,088	12,560
Cash flow from operating activities
for continuing operations	-4,131	-4,472	16,838	-2,815	54,493	74,147
Cash flow from operating activities
for discontinued operations	1,040	7,001	-3,976	20,693	34,244	9,574
Cash flow from operating activities	-3,090	2,529	12,862	17,878	88,737	83,721
Investing activities
Acquisition of intangible fixed assets	-7,607	-7,332	-13,721	-12,840	-17,849	-18,729
Acquisition of tangible fixed assets	-4,476	-2,569	-5,834	-4,099	-6,611	-8,345
Acquisition of financial assets	-29	-86	-57	-177	-300	-181
Sale of tangible fixed assets		32		32		-32
Sale of financial fixed assets		-		17	17
Cash flow from investing activities
for continuing operations	-12,112	-9,956	-19,612	-17,068	-24,743	-27,287
Cash flow from investing activities
for discontinued operations	-	-2,809	-	-8,014	344,012	352,027
Cash flow from investing activities	-12,112	-12,765	-19,612	-25,082	319,269	324,740
Financial activities
Dividend to shareholders	-17,697	-	-17,697	-	-	-17,697
Borrowing	4,117		8,858	21	4,006	2,967
Amortization of loan liabilities	-186	-4,806	-344	-5,348	-39,897	-25,016
Cash flow from financial activities
for continuing operations	-13,766	-4,806	-9,183	-5,327	-35,891	-39,747
Cash flow from financial activities
for discontinued operations Cash flow from financial activities	- -13,766	- -4,806	- -9,183	0 -5,327	- -35,891	0 -39,747
Cash flow during period	-28,968	-15,043	-15,933	-12,531	372,116	368,714
Cash and liquid assets beginning of period	418,041	33,315	404,991	31,017	31,017	18,365
Exchange differences in liquid assets	1,389	93	1,403	-122	1,857	3,383
Cash and liquid assets at end of period	390,461	18,365	390,461	18,365	404,991	390,461
Additional information:
Justeringar för poster som inte ingår i kassaflödet:
Adjustments for items not included in the cash flow	8,329	6,391	16,958	12,118	32,332	37,173
Depreciations and write-downs	-2,061	-	19,093	-	-	18,770
Change in restructuring reserve	-2,370	-36	-1,904	1,128	-11,041	-13,751
Other items	3,898	6,356	34,147	13,245	21,291	42,192

INCOME STATEMENTS FOR THE PARENT COMPANY

	2009-04-01	2008-04-01	2009-01-01	2008-01-01	2008-01-01	2008-07-01
Amounts in KSEK	2009-06-30	2008-06-30	2009-06-30	2008-06-30	2008-12-31	2009-06-30
Net sales	3,043	1,990	3,043	3,979	6,159	5,222
Administative expenses	-4,065	-4,636	-8,337	-8,863	-16,043	-15,517
Research and development costs	-931	-1,473	-1,473	-2,156	-3,928	-3,246
Other operating net income	5,929	1,411	845	1,350	28,491	27,986
Operating expenses	933	-4,698	-8,966	-9,669	8,519	9,223
Operating profit/loss	3,976	-2,709	-5,923	-5,690	14,677	14,445
Profit/loss from financial investments:
Interest income from receivables from group companies	4,888	3,666	9,570	7,339	16,058	18,289
Interest expenses from liabilities to group companies	-510	-534	-970	-1,071	-2,021	-1,920
Result from participations in group companies	-	-	-	-	-96,781	-96,781
Profit and loss from other securities and receivalbes that are long term financial assets	-	-	-	5,092	40,679	35,587
Interest expenses and similar expense items	697	0	1,991		2,711	4,717
Interest expenses and similar expense items	-9	-17	-9	-34	-20	-10
Translation differences on intra-group receivalbles	-4,956	148	746	-1,718	16,083	18,547
Finansnetto	110	3,263	11,329	9,608	-23,292	-21,572
Profit/loss before income tax	4,086	554	5,405	3,918	-8,614	-7,127
Tax expenses	-	-	-	-	3,209	3,209
Total profit/loss for the period	4,086	554	5,405	3,918	-5,405	-3,918

BALANCE SHEETS FOR THE PARENT COMPANY

Amounts in KSEK	2009-06-30	2008-12-31
ASSETS Fixed assets
Intangible fixed assets
Patent and license rights Financial assets	6,651	6,774
Participation in group companies	557,090	557,047
Receivables from group companies	123,675	108,269
Deferred tax asset	42,570	42,570
Other long-term securities	-	-
	723,334	707,886
Total fixed assets	729,985	714,660
Current assets
Current receivables
Account receivables	-	71
Receivables from group companies	81,752	82,161
Other receivables	2,176	511
Prepraid expenses and accrued income	1,256	6,705
	85,184	89,448
Cash and bank balances and investments	361,263	356,972
Total current assets	446,447	446,420
TOTALT ASSETS	1,176,431	1,161,080
EQUITY, PROVISIONS AND LIABILITIES Equity
Restricted equity
Share capital	88,486	88,486
Statutory reserves	-	842,180
	88,486	930,666
Unrestricted equity
Fair value fond	34,460	36,294
Profit/loss carried forward	819,078	-
Profit/loss for the period reported	5,405	-5,405
	858,943	30,890
Total equity	947,429	961,556
Current liabilities
Account payable	1,273	3,647
Liabilities to group companies	224,260	189,910
Other short term liabilities	401	789
Accrued expenses and prepaid income	3,069	5,178
	229,003	199,523
TOTAL EQUITY, PROVISIONS AND LIABILITIES	1,176,431	1,161,080

CASH FLOW STATEMENTS FOR THE PARENT COMPANY

	2009-04-01	2008-04-01	2009-01-01	2008-01-01	2008-01-01	2008-07-01
Amounts in KSEK	2009-06-30	2008-06-30	2009-06-30	2008-06-30	2008-12-31	2009-06-30
Operating activities
Profit/loss after financial items	4,086	554	5,405	3,918	-8,614	-7,127
Adjustments for items not included in the cash flow	-6,094	1,308	-7,285	1,863	29,896	13,888
	-2,007	1,862	-1,880	5,782	21,282	6,762
Tax paid	-	-	-	-	-	-
Cash flow from operating activities before changes in working capital	-2,007	1,862	-1,880	5,782	21,282	6,762
Cash flow from change in working capital:
Increase (-)/ decrease (+) of other current receivables	-1,820	-7,680	3,855	-6,907	33,587	51,221
Increase (+)/ decrease (-) of other liabilities	-681	2,456	20,741	1,488	123,800	143,039
Cash flow from operating activities	-4,509	-3,362	22,716	363	178,669	201,022
Investing activities
Acquisition of intagnibile fixed assets	-301	-408	-727	-935	-2,037	-1,830
Sales of financial assets				-		-
Divest of business area				-	174,437	174,437
Increase (-)/ decrease (+) of other long-term receivables				-	5,041	5,041
Cash flow from investing activities	-301	-408	-727	-935	177,441	177,648
Cash flow from financial activities
Dividend to shareholders	-17,697	-	-17,697	-	-	-17,697
Cash flow from financial activities	-17,697	0	-17,697	0	0	-17,697
Cash flow for the period	-22,508	-3,770	4,291	-572	356,110	360,973
Cash and liquid assets beginning of period	383,771	4,060	356,972	862		290
Cash and liquid assets at end of period	361,263	290	361,263	290	356,110	361,263
Additional information:
Adjustments for items not included in the cash flow
Depreciations and write-downs	471	1,307	809	1,862	164,390	163,336
Disvestment profit Biosystems reported in
investing activities				-	-123,791	-123,791
Translation differences	-6,565	1	-8,094	1	-10,702	-25,656
Sum	-6,094	1,308	-7,285	1,863	29,896	13,888

Biotage AB (publ)

Interim report 2009-01-01 -- 2009-06-30

STATEMENT OF CHANGES IN EQUITY FOR THE PARENT COMPANY

				Profit/loss
		Statutory	Fund for	carried	Total
Amounts in KSEK	Share capital	reserv	fair value	forward	equity
Opening balance January 1, 2008	88,486	1,509,816	-38,554	-629,082	930,667
Changes in 2008:
Appropriation according to decision	-	-667,636	38,554	629,082	0
of the annual meeting	-	-	36,294	-	36,294
Profit/loss 2008	-	-		-5,405	-5,405
Total changes during 2008	0	-667,636	74,849	623,677	30,890
Closing balance December 31, 2008	88,486	842,180	36,294	-5,405	961,556
Changes in 2009:
Amounth carried over from reserve fund as per the
decision of extraordinary general meeting registred
by the Swedish Companies Registration Office
on February 10, 2009	-	-842,180	-	842,180	0
Dividend to shareholders				-17,697	-17,697
Exchange rate differences	-	-	-1,835	-	-1,835
Profit/loss 2009	-	-	-	5,405	5,405
Closing balance June 30, 2009	88,486	0	34,460	824,483	947,429