Verseon closes PACE financing for its new facility

Press release September 22, 2017

Verseon Corporation

("Verseon" or the "Company")

Verseon completes US$8.65M PACE financing for its new research and administrative facility

FREMONT, Calif.-Verseon, a technology-based pharmaceutical company, today announces that it is entering into a Property Assessed Clean Energy (PACE) program for its new facility in Fremont, California through its wholly owned subsidiary VRH1 LLC. The program provides Verseon with access to a US$ 8.65 million loan for energy-related items, bearing interest at a fixed rate of 6.50% and repayable over a 25-year term.

Verseon will use the PACE financing to enhance the energy efficiency of its new building, which houses the Company's R&D laboratories and corporate headquarters. These improvements are expected to result in an overall decrease in operating expenses based on a reduction in energy-related expenditure.

About Verseon

Verseon Corporation (www.verseon.com, AIM: VSN) is a technology-based pharmaceutical company that employs its proprietary, computational drug discovery platform to develop novel therapeutics that are unlikely to be found using conventional methods. The Company is applying its platform to a growing drug pipeline and currently has three active drug programs in the areas of anticoagulation, diabetic macular edema, and oncology.

About the PACE program

Property Assessed Clean Energy (PACE) is a state-legislated financing framework providing property owners with long-term financing for energy efficiency, renewable energy, and water conservation projects. It is repaid through property assessments. Long financing terms encourage comprehensive projects with deeper impacts on energy usage and have the potential for energy savings to exceed annual PACE payments.

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