During the second quarter of 2020, WntResearch AB ("WntResearch" or the "Company") carried out a rights issue of so-called units in which one (1) unit consisted of two (2) newly issued shares and one (1) warrant, issued free of charge. Those who subscribed for units during the subscription period from and including April 24, 2020 to and including May 8, 2020 thus received one (1) warrant of series 2020/2021 free of charge, per subscribed unit in the rights issue. Each warrant entitles the holder to subscribe for one (1) new share in the Company. The exercise price for the warrants corresponds to 70 percent of the volume-weighted average price of the Company's share during the period from and including January 22, 2021 to and including February 4, 2021, but not lower than the share's quota value and a maximum of SEK 3.00 per share. The volume-weighted average price paid during the measurement period amounted to approximately SEK 1.16 and thus the strike price is set at SEK 0.81 per share.

Summarized terms for the warrants of series 2020/2021:

• Exercise period: February 8, 2021 – February 19, 2021
• Size of issue: 12,685,611 warrants of series 2020/2021. Upon full exercise, 12,685,611 shares will be issued and WntResearch receives approximately SEK 10.3 million before issue costs.
• Exercise price: 0.81 SEK per newly subscribed share.
• Last day of trading in warrants of series 2020/2021: February 17, 2021.

Note that warrants that are not sold no later than February 17, 2021, or alternatively are not exercised by February 19, 2021 at 17.30 CET, expire worthless. In order for your warrants of series 2020/2021 not to expire, you must subscribe for shares or sell your warrants.

Also note that certain nominees may end the possibility of exercising warrants before the last day for exercise.

Ownership letter to warrant holders of series 2020/2021 is available at the Company's website at www.wntresearch.com.

Full terms of the warrants were included as part of the prospectus published in connection with the rights issue that was published on April 22, 2020. The prospectus is also available at www.wntresearch.com.

How to exercise the warrants:
Nominee-registered warrants (custody):

Subscription and payment of new shares through the exercise of the warrants shall take place in accordance with instructions from the respective nominee. Please contact your nominee for further information.

Directly registered warrants (VP account):
No issue report or payment instruction will be sent out. Subscription must be made by simultaneous cash payment according to the instructions on the application form. The warrants are then replaced with interim shares (IA) pending registration with the Swedish Companies Registration Office (Sw. Bolagsverket), whereby interim shares will automatically be converted to ordinary shares in WntResearch.

The application form with instructions for payment will be available at the Company's website, www.wntresearch.com, and at the issuer agent Mangold Fondkommission AB's website, www.mangold.se.

Advisers
Mangold Fondkommission AB is the financial adviser and Setterwalls Advokatbyrå AB is the legal adviser to WntResearch regarding the warrants.

For questions regarding the warrants, please contact:
Mangold Fondkommission AB
Tel: +46 8 5030 1595
E-mail: emissioner@mangold.se

For further information:
Anders Rabbe, CEO
Tel: +46 707 646 500
E-mail: anders.rabbe@wntresearch.com

This information was submitted for publication, through the agency of the contact person set out above, on February 5, 2021.

About WntResearch
WntResearch is a research and development company in oncology that develops new treatments intended to inhibit metastasis formation in cancers. The Company focuses on WNT5A, a protein that suppresses the metastatic process in the body; the vision is for cancer patients to no longer have to endure metastasis. Today, one in every three people will develop cancer during their lifetimes, and 90 percent of all cancer-related deaths are caused by metastases. Even though cancer treatment has become more effective, there are no effective methods to prevent the formation of metastasis. The drug candidate Foxy-5 mimics WNT5A' s ability to reduce the mobility and thus the spread of cancer cells. Foxy-5 has demonstrated a good safety profile with few adverse effects in two clinical phase I studies. An ongoing clinical phase II study is currently being conducted on patients with colon cancer with the Company's drug candidate Foxy-5. According to the Company's assessment, Foxy-5 is the only drug candidate of its kind, with a unique mode of action in an area where other drug or treatment options are lacking. WntResearch's share is listed on Spotlight Stock Market. For more information, please visit: www.wntresearch.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 WntResearch. An offer to the persons concerned to subscribe for units consisting of shares and warrants in WntResearch has only been made through the prospectus that WntResearch published on April 22, 2020.