Forward Pharma A/S Announces Proposed Initial Public Offering of ADSs

COPENHAGEN, Denmark, Oct. 2, 2014 /PRNewswire/ -- Forward Pharma A/S, a biopharmaceutical company working to advance a proprietary formulation of dimethyl fumarate for the treatment of multiple sclerosis and other immune disorders such as psoriasis, today announced it has commenced an underwritten initial public offering of its American Depositary Shares ("ADSs"). The Company currently expects the initial public offering price to be between $20.00 and $22.00 and the ADSs are expected to trade on the NASDAQ under the ticker symbol "FWP."

Leerink Partners LLC, Jefferies LLC and RBC Capital Markets, LLC are acting as book-running managers. JMP Securities LLC is acting as co-manager. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the ADSs offered in the public offering. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size or terms of the offering.

The offering of these securities is being made only by means of a prospectus, copies of which can be obtained from:

• Leerink Partners LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, USA, or by email at syndicate@leerink.com, or by calling (800) 808-7525.
• Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY, 10022, USA, or by email at Prospectus_Department@Jefferies.com, or by calling (877) 547-6340.
• RBC Capital Markets, LLC, Attention: Equity Syndicate, Three World Financial Center, 200 Vesey Street, 8th Floor, New York, NY 10281, USA, or by email at equityprospectus@rbccm.com, or by calling (877) 822-4089.

A registration statement, as amended, relating to Forward Pharma's securities has been filed with the United States Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Statement on Forward-Looking Statements

This press release contains forward-looking statements. Any statements that are not of historical facts may be deemed to be forward-looking statements. You can identify these forward-looking statements by words such as ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''intends,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''aims,'' or other similar expressions that convey uncertainty of future events or outcomes. Forward-looking statements include statements regarding our intentions, beliefs, assumptions, projections, outlook, analyses or current expectations concerning, among other things, our results of operations, financial condition, business outlook, the industry in which we operate and the trends that may affect the industry or us. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we caution you that forward-looking statements are not guarantees of future performance. All of our forward-looking statements are subject to known and unknown risks, uncertainties and other factors that are in some cases beyond our control and that may cause our actual results to differ materially from our expectations, including those risks identified under the caption "Risk Factors" in the Company's Registration Statement on Form F-1 and in other reports the Company files with the U.S. Securities and Exchange Commission. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this press release whether as a result of new information, future events or otherwise.

Contacts

Sharon Klahre
Director, Investor Relations
Forward Pharma USA, LLC
201-780-8298
sk@forward-pharma.com

Andy Brimmer / Dan Katcher / Jennifer Beugelmans
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449