Allenex AB : Allenex jan-dec: 112,7 msek (98,7) net sales

ALLENEX AB (PUBL)

YEAR-END REPORT 2012

For the fourth quarter October - December

? Net sales for the quarter amounted to SEK 27.4 million (27.5). Sales were impacted by a negative currency effect of SEK 1.2 million compared to the same period last year. Adjusted for currency ef- fects, the growth rate was 4 percent.

? Operating income (EBIT) for the quarter was SEK 0.6 million (-76.0), with currency effects having a

negative impact of SEK 1.4 million on results compared to the same period last year. (In 2011, earnings were impacted by impairment losses of SEK 74.6 million.)

? Operating margin for the quarter was 2 percent.

? Earnings after tax for the quarter was SEK 0.9 million (-71.7).

? Earnings per share for the quarter, basic and diluted, were SEK 0.03 (-0.75).

For the January - December period

? Net sales for the year amounted to SEK 112.7 million (98.7), corresponding to an increase of 14 percent compared to last year. (Olerup GmbH became a part of the group on June 1, 2011). Sales compared to 2011 were impacted by a negative currency effect of SEK 2.3 million.

? Operating income (EBIT) for the year was SEK 7.9 million (-88.1), with currency effects having a

negative impact of SEK 3.7 million on results compared to last year. (2011 results were charged with impairment losses of SEK 74.6 million.)

? Operating margin for the year was 7 percent.

? Earnings after tax for the year was SEK 0.3 million (-504.7). (2011 results were charged with im- pairment losses of SEK 489.3 million).

? Earnings per share for the year, basic and diluted, were SEK 0.04 (-7.23).

Significant events after the year end

? The Allenex subsidiary AbSorber received an EU grant of EUR 215,000 over a three-year period

? Allenex received a breakthrough order in the U.S. for SBT Resolver? from a leading HLA typing la- boratory. The yearly sales value is estimated at more than SEK 2 million.

CEO Anders Karlsson's comments on the fourth quarter 2012:

"In 2012, Allenex reset its course to focus on transplantation diagnostics. The organization is now stream- lined to underpin the company's new strategy and adapted to meet the needs of our customers. Sales increased during the year and we achieved a number of key business milestones. We see continued growth in important markets for the company's largest product Olerup SSP. The roll out of the SBT Resolv- er? product line from our Australian partner Conexio Genomics has been intensive and during the year several centers have adopted the product. After the year end, we received a breakthrough order in the U.S., from a major leading transplantation center, with several other key American centers shortly ex- pected to follow suit. We see this as a key launch milestone, with the possibility of gaining other major centers in other parts of the world as customers. Unfortunately, the strong Swedish kronor has had a

negative impact on sales, primarily during the second half of 2012."

For additional information, please contact:
Anders Karlsson, CEO, tel: [phone] or email: [e-mail]
Yvonne Axelsson, CFO, tel: [phone] or email: [e-mail]

ALLENEX YEAR.END REPORT 2012

Group performance

Allenex is a life science company that develops, manu- factures, markets and sells products on the global mar- ket that facilitate safer transplantation of organs and blood stem cells. Allenex is listed on NASDAQ OMX Stockholm, Small Cap, (ticker: ALNX). There are 54 em- ployees in the Allenex group.

SALES

Net sales for the year were SEK 112.7 million (98.7), an increase of 14 percent compared to the previous year. Olerup GmbH became a part of the group on June 1,
2011, which means that the figures are not entirely comparable.
Sales outside Europe and North America comprise a very small portion of total sales to date. At the same time, extensive work to register the company's products in other countries including Brazil, Mexico, South Korea and China is ongoing.
Allenex customers largely comprise HLA laboratories. Allenex segments HLA laboratories according to level of automation. The more individuals HLA tested at the la- boratory, the more probable it is that the laboratory is fully automated. SSP technology is primarily used by smaller laboratories, but it is also used as complemen- tary technology at the largest laboratories, which today use automated solutions as their primary typing technol-

ogy.

35,0

30,0

25,0

20,0

15,0

10,0

5,0

0,0

30,0 28,6

26,7 27,4

MARKET DEVELOPMENT

Since 2011, Allenex is the exclusive global distributor of the HLA typing products SBT ResolverTM and Assign- SBTTM 3.6+ from Conexio Genomics Pty. The focus since then has been on introducing the new product line to the largest and most automated HLA laboratories in the U.S. and Europe. These major laboratories conduct in particu- lar tests for bone marrow registries (such as the Swedish

Q1 2012 Q2 2012 Q3 2012 Q4 2012

Sales in the fourth quarter mainly comprised HLA typing kits based on SSP technology. Compared to the third quarter 2012, sales increased by 3 percent in SEK. Net sales was impacted negatively in the fourth quarter by the increasingly stronger Swedish kronor. In total, cur-
rency effects had a negative impact of SEK 1.2 million for the quarter and SEK 2.3 million for the year. Adjusted for currency effects, turnover was 7 percent higher during
the fourth quarter compared to the third quarter.
Sales in 2012 increased through the distribution compa- ny Olerup GmbH in Vienna (Europe and the rest of the world, excluding North and South America and the Nordic Region) in EUR by 8 percent compared to last year. Italy and Germany constitute the two largest markets.
In Southern Europe, there is an increasing trend towards larger and more structured tender processes. This is the case in Italy, Spain and Portugal, with France recently showing signs towards carrying out tender offerings on a larger, national basis too. Such tender contracts usually run for two- to three-year periods. During the year, Allen- ex, in collaboration with a local distributor in France, won a centralized tender contract issued by EFS, the French state-run tissue typing laboratories, for the delivery of SSP products over a four-year period.
Sales of Allenex products in North America through Ole- rup Inc increased in local currency (USD) by 1 percent compared to 2011.
Tobias registry) and testing outsourced by smaller trans- plantation centers. The larger registry laboratories con- duct HLA typing on some 5,000 - 10,000 individuals a year and are extremely thorough when evaluating a new supplier, which makes for lengthy sales processes. Pur- chasing patterns are also impacted by the fact that they maintain large inventories, placing orders every three to six months.
It can therefore be concluded that the period from the first customer visit to receiving an order is, at best, be- tween six and twelve months. The tendency is that the greater the usage, the longer the evaluation and decision making process. Before a purchasing decision is made, an evaluation comparing SBT Resolver? to the product offered by the current supplier of SBT typing is first car- ried out. If the evaluation is positive, then internal valida- tion of the product is required before a final decision is made to switch suppliers. This validation process, aimed at ensuring the safety of internal routines and processes, takes from three to six months.
A contract entered into earlier between Conexio and the American company Celera ends on December 31, 2013. This is considered likely to have a favorable effect on the potential of Allenex securing a strong position in SBT typing as well. Under the terms of this agreement Celera has had the right to license the manufacturing and distri- bution of SBT reagants and offer Conexio's software, Assign-SBTTM, to customers that use their products for SBT typing. The distributor of Celera's products, Abbot, has built up a strong market position through these

ALLENEX YEAR-END REPORT 2012

products and supplies SBT products to the equivalent of two-thirds of the HLA typing laboratories in the U.S. that use SBT technology. In Europe, the corresponding share
is one third. For Allenex, as exclusive distributor of Conex-
io's SBT solutions, this means the opportunity to pene- trate these two core markets faster and deeper. A key reason is that Assign-SBT?, used by Allenex, is an up- graded version of the software previously used exclusive- ly for Abbott's customers. Allenex therefore sees great opportunity in converting additional laboratories to the Allenex solution.
Clinical use of Conexio Resolver SBT Resolver? is now ongoing, with customers purchasing the product in North America and Europe. In Europe, Allenex, via its subsidiary Olerup GmbH, converted over 11 laboratories at the end of 2012, with additional customers currently at the vali- dation and evaluation stage.
In the U.S, where HLA laboratories generally have a high- er volume than those in Europe, the Allenex SBT solution is in use at 4 laboratories. Currently, 10 laboratories are at the final validation stage, with another 10 laboratories currently at evaluation stage. Of note is that after evalua- tion only two laboratories in the U.S. have gone with another supplier, while 12 laboratories have chosen to validate the Allenex solution over other alternatives.

PRODUCT DEVELOPMENT

Allenex SSP products are updated on an ongoing basis and the strategy is to offer solutions that are as complete as possible. In line with this, continuous product devel- opment is carried out to enable the company to keep its market leading position. In conjunction with stem cell
and organ transplantation, there are currently three different techniques available to HLA type patients and donors. SSO and SBT are automated technologies and in
2012 Allenex started work on the introduction of SSP add ons, as a complement to the automated technologies.
Going forward Allenex will strive to remain at the forefront of SSP technology by continuously and frequently updat- ing and adapting its product portfolio and by developing new products aimed at complementing other typing methods, primarily Conexio's SBT Resolver?.
Several national and regional clinical trials have com- menced both in the U.S. and Europe for the cross-match text XM-ONE®, focused on antibody detection. The trials are aimed at further demonstrating the product's clinical value. During the year, a collaboration agreement was entered into with the Heidelberg University Hospital in Germany. The hospital's transplantation center will func- tion as a reference laboratory in Europe, through which other laboratories can order XM-ONE®-tests.

FINANCIAL RESULTS

Consolidated operating income for the year was SEK 7.9 million (-88.1). The results include realized and unreal- ized currency effects corresponding to a loss of SEK 3.7 million. The 2011 results were charged with impairment losses of intangible assets totaling SEK 74.6 million.
The improvement in results for the year compared to previous years is also a consequence of positive sales development, efficiency improvements in the new organi- zation, improved margins now that Olerup GmbH is a subsidiary, and the effects of the streamlining measures that were implemented to reduce costs. Compared to last year, the cost of employee remuneration was SEK 8.5 million lower, with other costs reduced by SEK 4.5 mil- lion. (Olerup GmbH was consolidated on June 1, 2011
and is included in the results for 2012 for 12 months compared to seven months in 2011.)
The fair value for the two remaining holdings in the com- panies AnaMar AB and ONCOlog Medical QA AB is deemed as nil.

SIGNIFICANT EVENTS IN THE GROUP Significant events in the first quarter

? At the end of the acceptance period on January 11,

2012, the cash offer made by Xenella Holding AB in November 2011, co-owned by Mohammed Al Amoudi and FastPartner AB (publ) had been accept- ed by shareholders representing 11,174,755
shares in Allenex, corresponding to 9.3 percent of
the shares and votes in the company.

Significant events in the second quarter

? In April, Allenex divested its holdings in the associ- ated company Likvor AB for a total consideration of SEK 750 thousand. Since from an accounting per- spective the company was valued at nil, the transfer entails a corresponding gain in the second quarter

2012 for Allenex.

? In April, Allenex also divested its holdings in the associated company Pharmacolog i Uppsala AB for a total consideration of SEK 300 thousand. Here

too, the company was valued at nil from an account- ing perspective, with the transfer entailing a corre- sponding gain in the second quarter for Allenex.

? From May 1, Olerup GmbH started selling directly to end customers in The Netherlands and Belgium.

? In June, Tulane University Hospital, New Orleans, USA, began a study of XM-ONE® in conjunction with kidney transplantation. The estimated inclusion pe- riod is one year, after which patients will be followed up for 6 months.
? In June, the University of Miami commenced a clini- cal trail of XM-ONE ® in conjunction with kidney

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ALLENEX YEAR-END REPORT 2012

transplantation The estimated inclusion period is two years and patients will be followed up for 6 months after the transplantation.

Significant events in the third quarter

? Allenex, in collaboration with a local distributor in

France, won a centralized tender contract issued
by EFS, the French state-run tissue typing laborato- ries. The expected value of the contract for Allenex is SEK 6 million per year for four years (total SEK
24 million). As half of the laboratories encom- passed by the tender are already clients today, the contract will entail a net effect or direct sales in- crease of around SEK 3 million per year (a total of SEK 12 million).

Significant events in the fourth quarter

? The remaining SEK 7.7 million of the company's convertible loan (KV1) was repaid without conver- sion.

SIGNIFICANT EVENTS AFTER THE YEAR END

? The Allenex subsidiary AbSorber, together with EUROSTAM, a consortium of European transplanta- tion centers, has received a grant under the EU Commissions 7th Framework Programme, FP7. The purpose is to improve the results of kidney trans- plants among patients with higher risks of complica- tions due to significant genetic deviation from the donor. The Allenex cross-test XM-ONE® will be used throughout the project. Of the total EU grant of EUR

2.6 million, AbSorber will receive EUR 215,000 over a three-year period.

? A leading U.S. based HLA laboratory has chosen Allenex U.S. distribution company, Olerup Inc. as sup- plier of sequence-based HLA typing (SBT). The labora- tory, which is one of the ten largest typing laborato- ries in the U.S., has been evaluating and validating SBT Resolver? from Allenex partner Conexio Ge- nomics for some time. The laboratory has already placed its initial order, which also includes software Assign-SBT? 3.6+. The yearly sales value of the con- tract is estimated at more than SEK 2 million per

year.

FINANCIAL POSITION, CASH FLOW AND FINANCING

The group's operations are financed by shareholders' equity and loans. Interest-bearing liabilities amounted to SEK 99.0 million (150.0) primarily secured to finance the acquisition of Olerup SSP and AbSorber. Allenex repaid in full the convertible loan 'KV1' at an amount of SEK 40.8 million and amortized SEK 12 million of a bank loan. A bank loan of SEK 30 million as well as the SEK 31 million convertible loan from SSP Primers due on June 30, 2013 are included in the refinancing discussions that Allenex is
holding with its main bank.
The consolidated equity/assets ratio was 63 percent (53). Consolidated equity was SEK 216.2 million (219.8) equivalent to SEK 1.80 per share (1.83). Cash and cash equivalents totaled SEK 14.3 million (80.5). Cash flow from operating activities before changes in working capi- tal was SEK 0.6 million (-25.6). This change for the posi- tive is primarily due to an increase in sales and reduced costs.

Convertibles issued in July 2008 pledged to SSP Primers AB.

The convertibles amount to SEK 31 million maturing on June 30, 2013, carrying an annual interest rate of 6 percent, with a conversion rate of SEK 35.72.

Risks and uncertainties

Allenex has long been a well established business with well-known products in the field of genomic HLA typing based on SSP technology, maintaining a significant mar- ket share. At the same time, the company faces market risk in the form of competition from other producers, the transition to more automated typing processes as well as new technologies, which may make it difficult for the company to maintain market share and margins.
Operational risk is primarily tied to the company's ability to constantly update its product range and to produce continually updated test kits in pace with market de- mand.
In 2011, the addition of products sold and distributed on the basis of cooperation agreements with other compa- nies increases opportunities to strengthen market posi- tion and profitability, while it also carries an increased risk in light of the commitments with respect to resource investments and costs resulting from such agreements. The SBT products from the Australian company Conexio Genomics in particular are expected to achieve signifi- cant sales. At the same time, this involves significant competition and market risk. Establishing the products has proven to take longer than planned and there is a
risk that they may not attain the anticipated success. The ability to deliver the right quality on time has both a short and long term significance for the business. For example, the inability of the partner to deliver due to production downtime could have a substantial negative effect on sales.
The transplantation test XM-ONE® is primarily used as a research product by larger centers. Work is underway to get the product established in broad clinical use. This has proven to take longer than planned and there is a risk
that the product may not attain the success anticipated. This in turn could have a negative on the value of the company's intangible assets and other assets. To date,
XM-ONE® is a unique product in its area and has signifi-

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ALLENEX YEAR-END REPORT 2012

cant patent protection. However, there is a risk that the company's competitors may challenge these patents or otherwise introduce competing test methods.
A large part of Allenex sales are carried out in currencies other than SEK, mostly in EUR but also in USD. A lesser portion of purchases are also made in other currencies than SEK. This may signify a currency risk for the compa- ny. Allenex does not conduct currency hedging activities.
Attracting and maintaining qualified personnel for devel- opment, production, marketing, sales, logistics and ad- ministration is essential to group performance.
The value of the company is partly dependent on its ability to maintain and protect patents, other intellectual property rights and specific expertise. Patent protection for medical, medtech and biotech products can be uncer- tain and involve complex legal and technical issues. Patents must usually be sought and maintained in sever- al jurisdictions, and issued patents may be challenged, invalidated and circumvented. For Allenex or its subsidi- aries this may mean loss of or shortened patent protec- tion, which in turn may mean that the company cannot prevent competitors from marketing similar products.
The uncertainty associated with patents and patent litigation and other patent processes, may have a nega- tive impact on the competitiveness of Allenex and its subsidiaries
Both clinical trials and the marketing and sales of prod- ucts pose a significant risk in terms of product liability. When deemed necessary, the company obtains product liability insurance. No assurance can be given that insur- ance will cover future claims against Allenex or its subsid- iaries.
Some of the companies are dependent on approval through clinical trials or decisions from public authorities. There are no guarantees that an associated company will achieve satisfactory results in such trials, or that the required regulatory approval will be granted.
The group's customer relations are stable and long-term, with historically low credit losses. Credit evaluations are carried out on new customers. Credit risk is currently assessed as low, but any change in a negative direction could impact the company's results and financial posi- tion.
The company has reduced its leverage risk by repaying the Allenex convertible loan (KV1) in full. Remaining is the leverage risk associated with the acquisition of Ole- rup SSP in June 2008 with a convertible loan of SEK 31 million from SSP Primers AB, which is due in June 2013.
Part of the financing was raised at variable interest rates, therefore rising interest rates could lead to lower returns for the company, which in turn could affect the compa- ny's results and financial position.
Based on the current circumstances, the group is of the opinion that it has sufficient liquidity to conduct its opera-
tions according to current plans. There is a risk that market conditions and sales will develop negatively, which may hamper ongoing financing. The group's ability to refinance maturing loans may also be adversely im- pacted by group performance and overall conditions in the financial markets.
The company's cash and cash equivalents are placed in
liquid assets with low credit risk.

PARENT COMPANY

Revenues for the year amounted to SEK 2.6 million (3.2). Operating loss for the year was SEK 13.7 million (-27.3). The divestment of two associated companies resulted in
a capital gain of SEK 1.0 million. Allenex intra-group receivables amounted to SEK 99.9 million (92.1). Cash and cash equivalents totaled SEK 5.5 million (55.3). Cash flow from operations before changes in working capital for the year was negative at SEK 17.9 million (-
31.1). At year end the parent company had 4 employees
(6).

SHARE AND SHAREHOLDERS

*) Xenella Holding AB is jointly owned by Mohammed Al Amoudi and FastPartner AB (publ).

Accounting principles

Allenex applies International Financial Reporting Stand- ards (IFRS) as adopted by the EU and the Swedish Annu- al Accounts Act. This interim report was prepared in accordance with IAS 34 and the Annual Accounts Act for the group and in accordance with the Annual Accounts Act for the parent company.
The accounting principles applied for the group and the parent company are consistent with those used in the preparation of the most recent Annual Report.

5

ALLENEX YEAR-END REPORT 2012

Future report dates
Interim report January-March: April 25, 2013
Annual Report 2012: published latest May 3, 2013
Interim report January-June: August 2013
Interim report January-September: November 2013
The Annual General Meeting will be held in Stockholm on May 23, 2013. Shareholders wishing to have matters ad- dressed at the meeting should submit their proposals in writing to the company at the following address: Allenex AB (publ), Attn AGM 2013, Box 122 83, 102 27 Stockholm or via email to [e-mail]. All proposals must be received by Allenex by April 11, 2013 at the latest, or in sufficient time in order to guarantee that their proposals, if so required, may be included in the AGM notice.
Stockholm, February 21, 2013
Anders Karlsson
CEO

This year-end report has not been subject to review by the company's auditors.

The information in this interim report is such that Allenex AB (publ) is required to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. This report and earlier financial reports are available at www.allenex.com
This information was released for publication on February 21, 2013 at 14.00 CET

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ALLENEX YEAR-END REPORT 2012

Consolidated statement of

comprehensive income 2012 2011 2012 2011

Earnings/loss per share, basic and diluted, SEK 2)
Average number of outstanding shares, basic and diluted2)
Number of shares at the period-end

1) Olerup International AB was incorporated as a subsidiary on June 1, 2011. Olerup International AB in turn owns 100% of

Olerup GmbH.

2) Translation of historical values was made with respect to the bonus element of the rights issue in November 2011

7

ALLENEX YEAR-END REPORT 2012

Consolidated statement of financial position 2012 2011

Amount in SEK thousand	DEC 31	DEC 31
Assets Goodwill Intangible assets Tangible assets Participations in associated companies and other holdings Deferred tax assets		214,808 65,086 5,968 0 10,389
Assets Goodwill Intangible assets Tangible assets Participations in associated companies and other holdings Deferred tax assets	214,541	214,808 65,086 5,968 0 10,389
Assets Goodwill Intangible assets Tangible assets Participations in associated companies and other holdings Deferred tax assets	64,220	214,808 65,086 5,968 0 10,389
Assets Goodwill Intangible assets Tangible assets Participations in associated companies and other holdings Deferred tax assets	4,496	214,808 65,086 5,968 0 10,389
Assets Goodwill Intangible assets Tangible assets Participations in associated companies and other holdings Deferred tax assets	0	214,808 65,086 5,968 0 10,389
Assets Goodwill Intangible assets Tangible assets Participations in associated companies and other holdings Deferred tax assets	8,711	214,808 65,086 5,968 0 10,389
Total non-current assets Inventories Current receivables Cash and cash equivalents	291,968	296,251 21,050 13,102 80,530
Total non-current assets Inventories Current receivables Cash and cash equivalents	21,701	296,251 21,050 13,102 80,530
Total non-current assets Inventories Current receivables Cash and cash equivalents	14,912	296,251 21,050 13,102 80,530
Total non-current assets Inventories Current receivables Cash and cash equivalents	14,327	296,251 21,050 13,102 80,530
Total current assets Total assets Equity and liabilities Equity Interest-bearing non-current liabilities Non-interest bearing non-current liabilities and provisions Interest-bearing current liabilities Non-interest bearing current liabilities and provisions	50,940 342,908	114,682 410,933 219,810 90,166 15,162 59,817 25,978
Total current assets Total assets Equity and liabilities Equity Interest-bearing non-current liabilities Non-interest bearing non-current liabilities and provisions Interest-bearing current liabilities Non-interest bearing current liabilities and provisions		114,682 410,933 219,810 90,166 15,162 59,817 25,978
Total current assets Total assets Equity and liabilities Equity Interest-bearing non-current liabilities Non-interest bearing non-current liabilities and provisions Interest-bearing current liabilities Non-interest bearing current liabilities and provisions	216,196	114,682 410,933 219,810 90,166 15,162 59,817 25,978
Total current assets Total assets Equity and liabilities Equity Interest-bearing non-current liabilities Non-interest bearing non-current liabilities and provisions Interest-bearing current liabilities Non-interest bearing current liabilities and provisions	18,000	114,682 410,933 219,810 90,166 15,162 59,817 25,978
Total current assets Total assets Equity and liabilities Equity Interest-bearing non-current liabilities Non-interest bearing non-current liabilities and provisions Interest-bearing current liabilities Non-interest bearing current liabilities and provisions	13,172	114,682 410,933 219,810 90,166 15,162 59,817 25,978
Total current assets Total assets Equity and liabilities Equity Interest-bearing non-current liabilities Non-interest bearing non-current liabilities and provisions Interest-bearing current liabilities Non-interest bearing current liabilities and provisions	80,774	114,682 410,933 219,810 90,166 15,162 59,817 25,978
Total current assets Total assets Equity and liabilities Equity Interest-bearing non-current liabilities Non-interest bearing non-current liabilities and provisions Interest-bearing current liabilities Non-interest bearing current liabilities and provisions	14,766	114,682 410,933 219,810 90,166 15,162 59,817 25,978
Total equity and liabilities	342,908	410,933

Consolidated statement of changes in equity 2012 2011

Amount in SEK thousand	DEC 31	DEC 31
Opening balance Rights issue Issue costs Deferred tax on issue costs Dividends paid to non-controlling interests Acquisition of companies with non- controlling interests Comprehensive results for the period	219,810	575,609 154,656 -6,709 1,764 -3,235 3,083 -505,358
Opening balance Rights issue Issue costs Deferred tax on issue costs Dividends paid to non-controlling interests Acquisition of companies with non- controlling interests Comprehensive results for the period	-	575,609 154,656 -6,709 1,764 -3,235 3,083 -505,358
Opening balance Rights issue Issue costs Deferred tax on issue costs Dividends paid to non-controlling interests Acquisition of companies with non- controlling interests Comprehensive results for the period	-	575,609 154,656 -6,709 1,764 -3,235 3,083 -505,358
Opening balance Rights issue Issue costs Deferred tax on issue costs Dividends paid to non-controlling interests Acquisition of companies with non- controlling interests Comprehensive results for the period	-	575,609 154,656 -6,709 1,764 -3,235 3,083 -505,358
Opening balance Rights issue Issue costs Deferred tax on issue costs Dividends paid to non-controlling interests Acquisition of companies with non- controlling interests Comprehensive results for the period	-4,668	575,609 154,656 -6,709 1,764 -3,235 3,083 -505,358
Opening balance Rights issue Issue costs Deferred tax on issue costs Dividends paid to non-controlling interests Acquisition of companies with non- controlling interests Comprehensive results for the period	-	575,609 154,656 -6,709 1,764 -3,235 3,083 -505,358
Opening balance Rights issue Issue costs Deferred tax on issue costs Dividends paid to non-controlling interests Acquisition of companies with non- controlling interests Comprehensive results for the period	1,054	575,609 154,656 -6,709 1,764 -3,235 3,083 -505,358

Consolidated statement of cash flows 2012 2011

Amount in SEK thousand	JAN-DEC	JAN-DEC
Results before financial items Adjustment for items not included in the cash flow Financial items Taxes paid	7,933	-88,093 75,066 -11,414 -1,192
Results before financial items Adjustment for items not included in the cash flow Financial items Taxes paid	3,794	-88,093 75,066 -11,414 -1,192
Results before financial items Adjustment for items not included in the cash flow Financial items Taxes paid	-7,353	-88,093 75,066 -11,414 -1,192
Results before financial items Adjustment for items not included in the cash flow Financial items Taxes paid	-3,770	-88,093 75,066 -11,414 -1,192
Cash flow from operations before changes in working capital Increase (-)/Decrease(+) in inventories Increase (-)/Decrease(+) in operating receivables Increase (-)/Decrease(+) in operating liabilities	604	-25,633 485 3,578 -305
Cash flow from operations before changes in working capital Increase (-)/Decrease(+) in inventories Increase (-)/Decrease(+) in operating receivables Increase (-)/Decrease(+) in operating liabilities		-25,633 485 3,578 -305
Cash flow from operations before changes in working capital Increase (-)/Decrease(+) in inventories Increase (-)/Decrease(+) in operating receivables Increase (-)/Decrease(+) in operating liabilities	-890	-25,633 485 3,578 -305
Cash flow from operations before changes in working capital Increase (-)/Decrease(+) in inventories Increase (-)/Decrease(+) in operating receivables Increase (-)/Decrease(+) in operating liabilities	-3,450	-25,633 485 3,578 -305
Cash flow from operations before changes in working capital Increase (-)/Decrease(+) in inventories Increase (-)/Decrease(+) in operating receivables Increase (-)/Decrease(+) in operating liabilities	-7,025	-25,633 485 3,578 -305
Cash flow from operating activities Cash flow from investing activities1) Cash flow from financing activities 2) 3)	-10,761	-21,875 -15,329 86,535
Cash flow from operating activities Cash flow from investing activities1) Cash flow from financing activities 2) 3)	961	-21,875 -15,329 86,535
Cash flow from operating activities Cash flow from investing activities1) Cash flow from financing activities 2) 3)	-56,403	-21,875 -15,329 86,535
Cash flow for the year Cash and cash equivalents at the start of the year	-66,203	49,331 31,199
Cash flow for the year Cash and cash equivalents at the start of the year	80,530	49,331 31,199
Cash and cash equivalents at the year end	14,327	80,530

1) Divestment of associates included at an amount of SEK 1,050 thousand (0).

2) Dividends to a non-controlling interest are incl. at SEK 4,668 thousand (3,235).

3) Convertible loan "KV1" repaid in full at an amount of SEK 40,776 thousand as well as the amortization of a bank loan at SEK 12,000 thousand.

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ALLENEX YEAR-END REPORT 2012

Parent company income statement 2012 2011 2012 2011

Amount in SEK thousand	OCT-DEC	OCT-DEC	JAN-DEC	JAN-DEC
Other revenues Other external expenses Personnel expenses Depreciation/amortization	650	1,340 -3,318 -3,773 -44	2,552	3,219 -15,045 -15,365 -163
Other revenues Other external expenses Personnel expenses Depreciation/amortization		1,340 -3,318 -3,773 -44		3,219 -15,045 -15,365 -163
Other revenues Other external expenses Personnel expenses Depreciation/amortization	-2,065	1,340 -3,318 -3,773 -44	-8,477	3,219 -15,045 -15,365 -163
Other revenues Other external expenses Personnel expenses Depreciation/amortization	-1,353	1,340 -3,318 -3,773 -44	-7,625	3,219 -15,045 -15,365 -163
Other revenues Other external expenses Personnel expenses Depreciation/amortization	-43	1,340 -3,318 -3,773 -44	-174	3,219 -15,045 -15,365 -163
Operating results Impairment of part. In associated companies Impairment of shares in subsidiaries Results from divestment of associated companies Other financial expenses and revenues	-2,811	-5,795 -730 -116,732 - -759	-13,724	-27,354 -254,219 -116,732 - -3,576
Operating results Impairment of part. In associated companies Impairment of shares in subsidiaries Results from divestment of associated companies Other financial expenses and revenues		-5,795 -730 -116,732 - -759		-27,354 -254,219 -116,732 - -3,576
Operating results Impairment of part. In associated companies Impairment of shares in subsidiaries Results from divestment of associated companies Other financial expenses and revenues	0	-5,795 -730 -116,732 - -759	0	-27,354 -254,219 -116,732 - -3,576
Operating results Impairment of part. In associated companies Impairment of shares in subsidiaries Results from divestment of associated companies Other financial expenses and revenues	-2,000	-5,795 -730 -116,732 - -759	-2,000	-27,354 -254,219 -116,732 - -3,576
Operating results Impairment of part. In associated companies Impairment of shares in subsidiaries Results from divestment of associated companies Other financial expenses and revenues	0	-5,795 -730 -116,732 - -759	1,050	-27,354 -254,219 -116,732 - -3,576
Operating results Impairment of part. In associated companies Impairment of shares in subsidiaries Results from divestment of associated companies Other financial expenses and revenues	-187	-5,795 -730 -116,732 - -759	237	-27,354 -254,219 -116,732 - -3,576
Results after financial items Allocations Group contributions received Group contributions paid	-4,998	-124,016 31,102 -	-14,437	-401,881 31,102 -
Results after financial items Allocations Group contributions received Group contributions paid		-124,016 31,102 -		-401,881 31,102 -
Results after financial items Allocations Group contributions received Group contributions paid		-124,016 31,102 -		-401,881 31,102 -
Results after financial items Allocations Group contributions received Group contributions paid		-124,016 31,102 -		-401,881 31,102 -
Results after financial items Allocations Group contributions received Group contributions paid	31,648	-124,016 31,102 -	31,648	-401,881 31,102 -
Results after financial items Allocations Group contributions received Group contributions paid	-16,618	-124,016 31,102 -	-16,618	-401,881 31,102 -
Earnings before tax Tax	10,032	-92,914 -10,525	593	-370,779 -3,702
Earnings before tax Tax		-92,914 -10,525		-370,779 -3,702
Earnings before tax Tax	-297	-92,914 -10,525	-297	-370,779 -3,702
Net income/loss for the year	9,735	-103,439	296	-374,481

Statement of comprehensive income for the parent company

Results for the period 9,735 -103,439 296 -374,481

Other comprehensive results for the period - - - -

Comprehensive results for the period 9,735 --103,439 296 -374,481

Parent company balance sheet 2012 2011

Amount in SEK thousand	DEC 31	DEC 31
Assets Intangible and tangible assets Shares in subsidiaries Participations in associated companies Non-current intra-group receivables Deferred tax assets		468 57,378 0 92,122 1,923
Assets Intangible and tangible assets Shares in subsidiaries Participations in associated companies Non-current intra-group receivables Deferred tax assets	322	468 57,378 0 92,122 1,923
Assets Intangible and tangible assets Shares in subsidiaries Participations in associated companies Non-current intra-group receivables Deferred tax assets	57,378	468 57,378 0 92,122 1,923
Assets Intangible and tangible assets Shares in subsidiaries Participations in associated companies Non-current intra-group receivables Deferred tax assets	0	468 57,378 0 92,122 1,923
Assets Intangible and tangible assets Shares in subsidiaries Participations in associated companies Non-current intra-group receivables Deferred tax assets	99,872	468 57,378 0 92,122 1,923
Assets Intangible and tangible assets Shares in subsidiaries Participations in associated companies Non-current intra-group receivables Deferred tax assets	1,626	468 57,378 0 92,122 1,923
Total non-current assets Current receivables Cash and bank	159,198	151,891 38,794 55,320
Total non-current assets Current receivables Cash and bank		151,891 38,794 55,320
Total non-current assets Current receivables Cash and bank	38,128	151,891 38,794 55,320
Total non-current assets Current receivables Cash and bank	5,480	151,891 38,794 55,320
Total current assets	43,608	94,114
Total current assets		94,114
Total assets Equity and liabilities Equity Non-current liabilities Current liabilities	202,806	246,005 163,325 30,058 52,622
Total assets Equity and liabilities Equity Non-current liabilities Current liabilities		246,005 163,325 30,058 52,622
Total assets Equity and liabilities Equity Non-current liabilities Current liabilities		246,005 163,325 30,058 52,622
Total assets Equity and liabilities Equity Non-current liabilities Current liabilities	163,621	246,005 163,325 30,058 52,622
Total assets Equity and liabilities Equity Non-current liabilities Current liabilities	0	246,005 163,325 30,058 52,622
Total assets Equity and liabilities Equity Non-current liabilities Current liabilities	39,185	246,005 163,325 30,058 52,622
Total equity and liabilities Changes in equity, parent company	202,806	246,005
Total equity and liabilities Changes in equity, parent company		246,005
Total equity and liabilities Changes in equity, parent company		246,005
Opening balance Rights issue Issue costs Deferred tax on emissions tax Net income/loss for the year	163,325	388,096 154,655 -6,709 1,764 -374,481
Opening balance Rights issue Issue costs Deferred tax on emissions tax Net income/loss for the year	-	388,096 154,655 -6,709 1,764 -374,481
Opening balance Rights issue Issue costs Deferred tax on emissions tax Net income/loss for the year	-	388,096 154,655 -6,709 1,764 -374,481
Opening balance Rights issue Issue costs Deferred tax on emissions tax Net income/loss for the year	-	388,096 154,655 -6,709 1,764 -374,481
Opening balance Rights issue Issue costs Deferred tax on emissions tax Net income/loss for the year	296	388,096 154,655 -6,709 1,764 -374,481
Closing balance	163,621	163,325

9

ALLENEX YEAR-END REPORT 2012

Parent company statement of cash flows 2012 2011

Amount in SEK thousand	JAN-DEC	JAN-DEC
Results before financial items Adjustments for items not included in the cash flow Financial items Taxes paid	-13,724	-27,354 187 -6,289 0
Results before financial items Adjustments for items not included in the cash flow Financial items Taxes paid	174	-27,354 187 -6,289 0
Results before financial items Adjustments for items not included in the cash flow Financial items Taxes paid	-4,320	-27,354 187 -6,289 0
Results before financial items Adjustments for items not included in the cash flow Financial items Taxes paid	0	-27,354 187 -6,289 0
Cash flow from operating activities before changes in working capital Increase (-)/Decrease(+) in operating receivables Increase (-)/Decrease(+) in operating liabilities	-17,870	-33,456 1,244 -2,324
Cash flow from operating activities before changes in working capital Increase (-)/Decrease(+) in operating receivables Increase (-)/Decrease(+) in operating liabilities		-33,456 1,244 -2,324
Cash flow from operating activities before changes in working capital Increase (-)/Decrease(+) in operating receivables Increase (-)/Decrease(+) in operating liabilities	441	-33,456 1,244 -2,324
Cash flow from operating activities before changes in working capital Increase (-)/Decrease(+) in operating receivables Increase (-)/Decrease(+) in operating liabilities	-3,909	-33,456 1,244 -2,324
Cash flow from operating activities Cash flow from investing activities 1) 2) Cash flow from financing activities 3)	-21,338	-34,536 -29,451 101,870
Cash flow from operating activities Cash flow from investing activities 1) 2) Cash flow from financing activities 3)		-34,536 -29,451 101,870
Cash flow from operating activities Cash flow from investing activities 1) 2) Cash flow from financing activities 3)	12,274	-34,536 -29,451 101,870
Cash flow from operating activities Cash flow from investing activities 1) 2) Cash flow from financing activities 3)	-40,776	-34,536 -29,451 101,870
Cash flow for the year Cash and cash equivalents at the start of the year	-49,840	37,883 17,437
Cash flow for the year Cash and cash equivalents at the start of the year	55,320	37,883 17,437
Cash and cash equivalents at the end of the year	5,480	55,320

1) Received subsidiary dividend totaling SEK 2,400 thousand (2,400).

2) Divestment of associated company at a total compensation of SEK 1,050 thousand (0)

3) Convertible loan"KV1" repaid by SEK 40,776.

Key figures 2012 2011

Net sales, SEK thousand
Operating income/loss, SEK thousand Net income/loss after tax, SEK thousand Earnings/loss per share, basic and diluted, SEK 1) Equity per share, SEK
Equity/assets ratio, % Return on equity, %
Average number of employees
Fair value of portfolio of associated companies, SEK thousand Book value of portfolio of associated companies, SEK thousand Number of shares outstanding at the year end
Average number of shares outstanding 1)
Share price at the year end, SEK Market cap, SEK thousand
98,712
-88,093
-504,663
-7.23
1.83
53
-225
60
0
0
120,288,448
69,000,080
1.49
179,230

1,) Translation of historical values was made with respect to the bonus element of the rights issue in November 2011.

Definitions:

Earnings per share Earnings after tax divided by the average number of outstanding shares. Equity per share Equity divided by the number of outstanding shares at the period end. Equity/assets ratio Equity at the period end in relation to total assets.

10

ALLENEX YEAR-END REPORT 2012

Companies in the Allenex group

MANUFACTURING AND R&D COMPANIES

Olerup SSP AB is world leading in the develop- ment of kits for genomic HLA typing, based on SSP technology. The product is used prior to a transplantation to match the donor and recipient. The better the match the lower the risk of compli- cations following transplantation. HLA typing is a standard procedure prior to bone marrow trans- plantation (hematopoietic stem cell transplanta- tion) and is also used in conjunction with organ transplants (kidney, lung, heart, etc.). In 2011, Olerup SSP entered into a five-year exclusive global agreement (excl. Australia, New Zealand and Taiwan) with Conexio Genomics, Perth, Aus-

tralia. Allenex's ownership stake in Olerup SSP

AB is 91 percent. For more information visit www.olerup-ssp.com

SALES AND DISTRIBUTION COMPANIES

GmbH Vienna Austria

Olerup GmbH, based in Vienna, is responsible for sales, distribution and logistics in Europe and the rest of the world excluding North, Central and South Amer- ica as well as the Nordic region. Sales encompass Olerup SSP's HLA typing products and AbSorber's XM- ONE® transplantation test. Furthermore, from mid-year

2011, the company also sells and distributes products from the Australian company Conexio Genomics. Sales are conducted by a proprietary sales team in Germa- ny, Austria and Slovenia, as well as the Nordic region. From May 1, 2012, Olerup GmbH also started selling directly to end-customers in the Netherlands and Belgium. Sales in other markets are handled by sub- distributors. The company is owned by Olerup Interna- tional, in which Allenex has an ownership stake of 75 percent. For more information visit www.olerup.com

AbSorber develops products that facilitate successful transplantation. AbSorber's transplantation test XM- ONE®, identifies antibodies that play a key role in causing rejection subsequent to transplantation. The company's research portfolio also includes a patented AB0 column for transplantations between people of different blood groups and an AB0 diagnostic test that measures the occurrence of blood group antibodies. Allenex's ownership stake of AbSorber is 98 percent. For more information visit www.absorber.se

Inc. West Chester PA USA

Olerup Inc., domiciled in West Chester, PA, USA, is responsible for the sales, distribution and logistics of Olerup SSP and AbSorber products in the North Amer- ican market. Furthermore, since mid-2011, the com- pany sells and distributes products from the Australian company Conexio Genomics. The company has its own sales organization in the US, while sales in Canada

and Central and South America are handled by sub distributors. AbSorber owns 50 percent of the compa-

ny. For more information visit www.olerup.com

11