Today, the board of directors of Idogen AB ("Idogen" or the "Company") announces the outcome of the rights issue of shares that was announced on November 8, 2022 (the "Rights Issue"). In total, 30,938,454 shares were subscribed for by exercise of subscription rights, corresponding to approximately 14.2 per cent of the Rights Issue, and 564,367 shares were subscribed for without subscription rights, corresponding to approximately 0.3 per cent of the Rights Issue. The Rights Issue was thus subscribed for at approximately 14.4 per cent and Idogen will thereby receive total proceeds of approximately SEK 6.3 million before issue costs.

Acting CEO Christina Herder comments:

"Idogen thanks the shareholders who have shown their support to the Company by subscribing for new shares despite the current market climate. Idogen has an increased focus and are now running its first cell therapy program in hemophilia with the aim of both developing a treatment where there is a large unmet medical need but also to validate our entire technology platform. This capital increase takes us a step closer to a read-out in the ongoing phase I/IIa study, where we welcome new and existing shareholders on our continued interesting journey ahead." Comments Christina Herder acting CEO.

Subscription and allotment

The outcome of the Rights Issue, in which the subscription period ended on January 13, 2023, shows that 30,938,454 shares were subscribed for by exercise of subscription rights, corresponding to approximately 14.2 per cent of the Rights Issue, and that 564,367 shares were subscribed for without subscription rights, corresponding to approximately 0.3 per cent of the Rights Issue. The Rights Issue was thus subscribed for at approximately 14.4 per cent and Idogen will thereby receive total proceeds of approximately SEK 6.3 million before issue costs.

Allocation of shares has been carried out in accordance with the principles stated in the prospectus that the Company published on December 15, 2022 (the "Prospectus"). Notification of allocation will be announced through a settlement note that will be sent out by mail to each subscriber. Allocated shares shall be paid in accordance with the instructions on the settlement note. Nominee-registered shareholders receive notification of allotment in accordance with instructions from the respective nominee. For further information on the Rights Issue, please refer to the published Prospectus.

Change in share capital and number of shares as well as dilution

Through the Rights Issue, the Company's share capital will increase by SEK 2,205,197.47 to a total of SEK 7,306,190.78. The number of shares in the Company will increase by 31,502,821 shares to a total of 104,374,154 shares. The dilution from the Rights Issue amounts to approximately 30.2 per cent of the capital and votes of the Company.

In accordance with the resolution of the extraordinary general meeting on December 13, 2022, the board of directors has, considering the above outcome of the Rights Issue, resolved to register new limits for the share capital and the number of shares in the Company's Articles of Association, meaning that the share capital shall be at least SEK 6,580,000 and not more than SEK 26,320,000 and that the number of shares shall be at least 94,000,000 shares and not more than 376,000,000 shares (in accordance with Alternative C of the resolution by the extraordinary general meeting on December 13, 2022).

Trading in BTA

Trading in paid subscribed shares ("BTA") that are received through subscription in the Rights Issue will take place on Nasdaq First North Growth Market until the Rights Issue has been registered with the Swedish Companies Registration Office (Sw. Bolagsverket). Registration with the Swedish Companies Registration Office is expected to take place during week 4, 2023.

Advisers

Vator Securities AB acts as issuer agent and Setterwalls Advokatbyrå AB acts as legal adviser to Idogen in connection with the Rights Issue.

For further information, please contact:

Christina Herder, acting CEO, Idogen AB

Tel: +46 70374 71 56

E-mail: christina.herder@idogen.com

This information is such information that Idogen AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17.31 CET on January 17, 2023.

Certified Adviser:

Vator Securities AB

Idogen (Nasdaq First North Growth Market: IDOGEN) develops tolerogenic cell therapies to prevent the patient's immune system from attacking biological agents, transplanted organs or the body's own cells or tissue. The company's most advanced program, IDO 8 - now in clinical phase - is designed to restore the efficacy of hemophilia drugs in patients who have developed neutralizing antibodies.For these hemophiliac patients, there is significant medical need for restoring the clinical effects of their treatment with factor VIII. This is a unique market positioning that over the long term could replace immune tolerance induction (ITI) treatments, with significant market potential. The planned IDO 8 clinical trial will validate the company's technology platform and facilitate a range of other applications in fields such as organ transplants (IDO T) and autoimmune diseases (IDO AID).More information about Idogen is available via www.idogen.com.

Important information

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Idogen. No action has been taken and measures will not be taken to permit a public offering in any jurisdictions other than Sweden. Any invitation to the persons concerned to subscribe for shares in Idogen has only been made through the Prospectus that Idogen published on December 15, 2022. The Prospectus has been approved and registered by the Swedish Financial Supervisory Authority and has been published on the Company's website (www.idogen.com). The approval of the Prospectus by the Swedish Financial Supervisory Authority shall not be regarded as an approval of the shares, warrants or any other securities. This release is however not a prospectus in accordance to the definition in the Prospectus Regulation (EU) 2017/1129 ("Prospectus Regulation" and this announcement does not identify or suggest, or purport to identify or suggest, the risks (direct or indirect) that may be associated with an investment in shares, warrants or other securities in Idogen. In order for investors to fully understand the potential risks and benefits associated with a decision to participate in the Rights Issue, any investment decision should only be made based on the information in the Prospectus. Thus, investors are encouraged to review the Prospectus in its entirety.

The information in this press release may not be released, distributed or published, directly or indirectly, in or into the United States of America, Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore, South Africa, South Korea, Switzerland or any other jurisdiction in which such action would be unlawful or would require registration or any other measures than those required by Swedish law. Actions in violation of these restrictions may constitute a violation of applicable securities laws. No shares, warrants or other securities in Idogen have been registered, and no shares, warrants or other securities will be registered, under the United States Securities Act of 1933, as amended (the "Securities Act") or the securities legislation of any state or other jurisdiction in the United States of America and no shares or other securities may be offered, sold or otherwise transferred, directly or indirectly, in or into the United States of America, except under an available exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and in compliance with the securities legislation in the relevant state or any other jurisdiction of the United States of America.

Within the European Economic Area ("EEA"), no public offering of shares, warrants or other securities ("Securities") is made in other countries than Sweden. In other member states of the EU, such an offering of Securities may only be made in accordance with the Prospectus Regulation. In other member states of the EEA which have implemented the Prospectus Regulation in its national legislation, any offer of Securities may only be made in accordance with an applicable exemption in the Prospectus Regulation and/or in accordance with an applicable exemption under a relevant national implementation measure. In other member states of the EEA which have not implemented the Prospectus Regulation in its national legislation, any offer of Securities may only be made in accordance with an applicable exemption under national law.

In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors" (within the meaning of the United Kingdom version of the EU Prospectus Regulation (2017/1129/ EU) which is part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018) who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); (ii) high net worth entities etc. falling within Article 49(2)(a) to (d) of the Order; or (iii) such other persons to whom such investment or investment activity may lawfully be made available under the Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.

This press release may contain forward-looking statements which reflect the Company's current view on future events and financial and operational development. Words such as "intend", "expect", "anticipate", "may", "believe", "plan", "estimate" and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.

The English text is an unofficial translation of the original Swedish text. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.