Cortendo AB Announces New Corporate Strategy

Göteborg, Sweden – Cortendo AB (publ) (CORT) announces its new corporate and commercial
strategy. Historically Cortendo AB has pioneered research and development in cortisol dependent disease states
in the broad population, such as type 2 diabetes and metabolic syndrome. While such disease states continue to
be of interest and part of the company strategy, Cortendo AB will now primarily focus its resources and pipeline
assets in rare or specialty diseases. Cortendo’s new operating model will target diseases and indications where
development resources can be focused and commercialization is achievable with a modestly sized sales 
organization. Cortendo plans to retain commercial rights in the US while partnering in markets outside the US
thus allowing Cortendo to realize a significant share of the economic value of its pipeline and optimize
shareholder return.

In support of this strategy Cortendo has modified the development program for it’s lead compound, the cortisol
modulator COR-003 (2S, 4R Ketoconazole), into rare and orphan disease markets. Additionally, Cortendo has
initiated a New Chemical Entity (NCE) discovery program for next generation compounds that would have
application to orphan drug diseases, type 2 diabetes and metabolic syndrome.

Supporting its pipeline expansion strategy, Cortendo is also announcing that it has exclusively licensed a
specialty product in the field of osteoarthritis for the North and South American markets. Lastly, and consistent
with its opportunistic strategy in novel mechanisms that have a clear and near- term path to a commercialization
partnership, Cortendo has taken a minority stake in an undisclosed company developing a novel oral technology
for type 1 diabetes.

Cortendo AB anticipates communicating in greater detail on each of the above strategic initiatives during 2012.

About Cortendo

Founded in 1996, Cortendo is a publicly traded, European based biopharmaceutical company that has pioneered cortisol inhibition as a treatment for Metabolic Syndrome (MES).  Lead drug candidate COR003, the 2S,4R-enantiomer of ketoconazole, is expected to enter Phase IIb clinical investigations for type 2 diabetes by the first quarter of 2012.  In parallel, Cortendo has plans to implement a broader pipeline expansion program existing of novel treatment approaches in diabetes and more near-term, revenue based opportunities.  Backed by a highly experienced leadership team, the Company’s expanded strategy will also include partnering discussions targeting the in-license of new programs in synergistic areas to provide future company growth and diversification.  For more information, please visit Cortendo’s website at www.cortendo.com.

Cortendo Forward-looking Statements

This press release contains forward-looking statements concerning Cortendo that involve a number of risks and uncertainties. All statements other than statements of historical facts included in this press release, including, without limitation, statements regarding the Company’s future financial position, strategy, anticipated investments, costs and results, plans, projects to enhance efficiency, outcomes of products development, future capital expenditures, liquidity requirements and objectives of management for future operations, may be deemed to be forward‐looking statements. These forward‐looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements or industry results to be materially different from those contemplated, projected, forecasted, estimated or budgeted, whether expressed or implied, by these forward‐looking statements. Given these risks and uncertainties, investors should not place any undue reliance on forward‐looking statements as a prediction of actual results. None of these forward‐looking statements constitutes a guarantee of the future occurrence of such facts and data or of actual results.  These statements are based on data, assumptions and estimates that the Company believes are reasonable. The forward‐looking statements contained in this document are made only as of the date hereof. The Company expressly disclaims any obligation or undertaking to release publicly any updates of any forward-looking statements contained in this press release to reflect any change in its actual results, assumptions, expectations or any change in events, factors, conditions or circumstances on which any forward‐looking statement contained in this press release is based.