Decision by the Disciplinary Committee regarding ISR Immune System Regulation Holding AB (publ)

Stockholm, May 24, 2023- The Disciplinary Committee of Nasdaq Stockholm AB (the
"Exchange") has found that ISR Immune System Regulation Holding AB (publ)
("ISR" or the "Company") has breached the Nasdaq First North Growth Market
Rulebook (the "Rulebook") and therefore decided that the Company's shares shall
be delisted from Nasdaq First North Growth Market no later than June 22, 2023. 

The Disciplinary Committee concludes that ISR on several occasions has breached
the obligation to provide the Exchange and Company's certified adviser with the
information prescribed in items 6.1.1 and 6.1.2 of the Rulebook. 

The Disciplinary Committee further concludes that the Company on several
occasions has breached Article 17 of the EU Market Abuse Regulation ("MAR"),
and consequently also breached item 4.1.1 of the Rulebook, by not publishing
the following inside information as soon as possible. 

 -- Information about the Company's financial situation, which had been
   published by Dagens Industri.
 -- Information that a creditor had filed an application for bankruptcy, which
   had been published by Dagens Industri.
 -- Information that the Exchange had sent a statement of reprimand to the
   Company.

The Disciplinary Committee also concludes that the Company has lacked capacity
to provide information to the market by not having a news distributor. The
Company has thus breached item 2.3.9 (a) of the Rulebook. 

In summary, the Disciplinary Committee takes a particularly serious view of the
Company's breaches that have been likely to damage the confidence in the
Exchange, Nasdaq First North Growth Market and the Swedish securities markets
in general. Upon an overall assessment, the Disciplinary Committee therefore
finds that the Company's shares shall be delisted from Nasdaq First North
Growth Market no later than June 22, 2023. 

The Exchange has subsequently decided that the Company's shares shall be
removed from trading from Nasdaq First North Growth Market on May 24, 2023. 

The Disciplinary Committee's decision is available at:

https://www.nasdaq.com/solutions/decisions-sanctions-stockholm-2023

About the Disciplinary Committee

The role of Nasdaq Stockholm's Disciplinary Committee is to consider suspicions
regarding whether Exchange Members or listed companies have breached the rules
and regulations applying on the Exchange. If the Exchange suspects that a
member or company has acted in breach of the rules, the matter is referred to
the Disciplinary Committee. Nasdaq Stockholm investigates the suspicions and
pursues the matter and the Disciplinary Committee issues a ruling regarding
possible sanctions. The sanctions possible for listed companies are a warning,
a fine or delisting. The sanctions possible for Exchange Members are a warning,
a fine or debarment. Fines paid are not included in the Exchange's business but
are attributed to a foundation supporting research in the securities market.
The Disciplinary Committee's Chairman and Deputy Chairman must be lawyers with
experience of serving as judges. At least two of the other members of the
Committee must have in-depth insight into the workings of the securities
market. 

Members: Former Supreme Court Justice Marianne Lundius (Chairman), Supreme
Court Justice Petter Asp (Deputy Chairman), Supreme Court Justice Johan
Danelius, Company Director Anders Oscarsson, Company Director Joakim Strid,
Lawyer Wilhelm Lüning, Lawyer Patrik Marcelius, Lawyer Erik Sjöman, MBA Carl
Johan Högbom, Authorized Public Accountant Magnus Svensson Henryson, Former
Authorized Public Accountant Svante Forsberg, Lawyer Magnus Lindstedt and
director Kristina Schauman. 

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