Active Biotech AB is a Sweden-based company that focuses on pharmaceutical research and development in medical fields in which the immune system plays a central role. The Company’s research portfolio primarily includes projects for the development of drugs for the treatment of autoimmune and inflammatory diseases and cancer. As of December 31, 2011, Active Biotech had five projects in clinical phase, three of which were outlicensed. Three of the projects relate to drugs for the treatment of the autoimmune diseases, multiple sclerosis (MS), Crohn’s disease, Systemic Sclerosis and rheumatoid arthritis (RA), and two of the projects focus on drugs for the treatment of cancer, mainly renal cell cancer and prostate cancer. As of December 31, 2011, the Company had three subsidiaries, including Active Forskaren 1 KB, Actinova AB and Active Security Trading AB.