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Last updated on April 20, 2014 at 13:20 EDT

ThromboGenics to Benefit From Positive Ruling Regarding Patent Income Deduction

June 21, 2012

LEUVEN, Belgium, June 22, 2012 /PRNewswire/ –

Effective tax rate to be reduced significantly

ThromboGenics NV (Euronext Brussels: THR), a biopharmaceutical company focused on
developing innovative ophthalmic medicines, today announced that the Belgian tax
authorities have granted the Company a positive ruling enabling it to benefit from the
“patent income deduction regime” and, therefore, from a reduced tax rate for all
patent-related ocriplasmin income.

The patent income deduction will apply to ThromboGenics’ anticipated sales of
ocriplasmin in the U.S. through its own commercial organization, to the extent that the
revenues relate to the ocriplasmin patents. It will also apply to all upfront and
milestone payments and royalties that ThromboGenics has or could receive from Alcon, its
partner for the commercialization of ocriplasmin outside the U.S. As a result of this
ruling ThromboGenics can exempt 80% of this qualifying patent-related income from the
standard rate of Belgian corporate tax, after deducting depreciation of the ocriplasmin
patents and certain royalty payments. As a result, the patent income deduction will lead
to the Company’s effective corporate tax rate being significantly lower than the standard
Belgian corporate tax rate of 33.99%.

Chris Buyse, CFO of ThromboGenics, said: “Today’s ruling is a very positive
development for ThromboGenics and its shareholders. The patent income deduction regime is
one of the Belgian government’s key policies for promoting the development and
competitiveness of research and development-based industries such as biotechnology. We are
very pleased that we can benefit from this important government incentive to develop IP in
Belgium starting in 2012 and that our tax rate will continue to be reduced significantly
as we look to grow the global sales of ocriplasmin, in conjunction with our partner
Alcon.”

About the Belgian Patent Income Deduction

The patent income deduction regime was introduced by the Belgian government in 2007 to
encourage Belgian companies to play an active role in patent research and development, as
well as patent ownership.

The regime allows Belgian companies to deduct 80% of their qualifying patent income
from their taxable income leading to a reduction in their maximum corporate tax rate for
this income stream to 6.8%, i.e. 20% of the Belgian statutory corporate tax rate of
33.99%.

The patent income deduction applies to any licensing income (upfront payments,
milestones and royalties) and to the portion of the sales price of a product sold directly
that is considered to relate to the product’s patents (embedded royalty). Under the
legislation, depreciation of purchased patents and royalties due on the in-licensed
patents should be deducted from the qualifying patent income before applying the 80%
deduction.

About ThromboGenics

ThromboGenics is a biopharmaceutical company focused on developing and commercializing
innovative ophthalmic medicines. The Company’s lead product, ocriplasmin, has successfully
completed two Phase III clinical trials for the pharmacological treatment of symptomatic
Vitreomacular Adhesion (VMA), otherwise termed Vitreomacular Traction (VMT), including
when associated with macular hole. The MAA for ocriplasmin has been accepted for review in
Europe and the BLA has been resubmitted in the U.S. Ocriplasmin is in Phase II clinical
development for additional vitreoretinal conditions.

In March 2012, ThromboGenics signed a strategic partnership with Alcon (Novartis) for
the commercialization of ocriplasmin outside the United States. Under this agreement,
ThromboGenics could receive up to a total of EUR375 million in up-front and milestone
payments, plus an attractive level of royalties on Alcon’s net sales of ocriplasmin.
ThromboGenics and Alcon intend to share the costs equally of developing ocriplasmin for a
number of new vitreoretinal indications.

ThromboGenics is also developing TB-403, a novel antibody therapeutic, in
collaboration with BioInvent International, for cancer and non-cancer, including
ophthalmology, indications.

ThromboGenics is headquartered in Leuven, Belgium. The Company is listed on the NYSE
Euronext Brussels exchange under the symbol THR. More information is available at

http://www.thrombogenics.com.

Important information about forward-looking statements

Certain statements in this press release may be considered “forward-looking”. Such
forward-looking statements are based on current expectations, and, accordingly, entail and
are influenced by various risks and uncertainties. The Company therefore cannot provide
any assurance that such forward-looking statements will materialize and does not assume an
obligation to update or revise any forward-looking statement, whether as a result of new
information, future events or any other reason. Additional information concerning risks
and uncertainties affecting the business and other factors that could cause actual results
to differ materially from any forward-looking statement is contained in the Company’s
Annual Report.

This press release does not constitute an offer or invitation for the sale or purchase
of securities or assets of ThromboGenics in any jurisdiction.

No securities of ThromboGenics may be offered or sold within the United States without
registration under the U.S. Securities Act of 1933, as amended, or in compliance with an
exemption therefrom, and in accordance with any applicable U.S. state securities laws.

        For further information please contact:
        ThromboGenics

        Dr. Patrik De Haes, CEO
        Tel: +32-16-75-13-10
        patrik.dehaes@thrombogenics.com

        Chris Buyse, CFO
        Tel: +32-16-75-13-10
        chris.buyse@thrombogenics.com

        Citigate Dewe Rogerson

        David Dible/ Nina Enegren/ Sita Shah
        Tel: +44-20-7638-9571
        sita.shah@citigatedr.co.uk

        The Trout Group

        Todd James, Director
        Simon Harnest, Associate
        Tel: +1-646-378-2926
        tjames@troutgroup.com

SOURCE ThromboGenics NV


Source: PR Newswire