Avista Capital Partners, a leading private equity firm has committed to invest $48.5 million in OptiNose. OptiNose, which was founded by Dr. Per Djupesland in 2000, has extensively tested its nasal drug delivery device under the leadership of  female CEO, Helena Kyttari Djupesland.

Last year Optinose participated in the Astia Programme in the UK for women led companies who are seeking investment and presented at the Investor Forum. This latest investment  puts last year’s UK funding success rate of all participating Astia companies at 57%!

OptiNose has developed an innovative nasal drug delivery technology that enables administration of
drugs deep in the nasal cavity, enabling the treatment of both local and systemic disease. In conjunction with this investment, OptiNose will reincorporate in the U.S. and move its headquarters from Oslo, Norway to Yardley, PA.

WFD Ventures, a New York-based venture capital firm specializing in medical technology investing, will also maintain a significant stake in the Company and continue to actively support the development program.

Peter Miller, the President and former Chief Executive Officer of Take Care Health Systems, a
business Mr. Miller co-founded and sold to Walgreens, has been appointed the new Chief Executive
Officer of the Company and will serve on the OptiNose Board of Directors.

Ms. Djupesland and Mr. Djupesland said, "We are delighted to welcome Peter Miller and Avista
Capital Partners to the OptiNose team. We strongly believe in our technology, which solves many of
the common problems associated with current nasal drug delivery techniques. With Peter's leadership
and healthcare background, and the support and deep healthcare experience offered by Avista and
WFD Ventures, we are confident in our ability to leverage our device's potential with many
compounds."

Mr. Miller stated, "I am very excited about the opportunity to lead a company that has core technology
with such strong potential, and to work with the talented OptiNose team and a group of investors with
such a history of success. OptiNose's devices deliver intranasal drugs in a completely new way to
targeted regions of the nasal cavity, including the sinuses and the olfactory region, without lung
deposition. I believe this technology provides a broad platform for delivering significant value to
patients, physicians, and payers, with potential applications in pharmaceuticals, vaccines, and OTC
products."

OptiNose is a drug delivery company with breakthrough technology set to transform the static nasal
drug delivery market. The Company was founded in 2000 to commercialize a novel nasal drug delivery
system that achieves targeted delivery to sites that are poorly accessed by existing nasal sprays. The
technology is unparalleled in its ability to effectively deliver drugs to specific sites within the nose,
while uniquely preventing drug distribution to the lungs. OptiNose's drug delivery performance is
achieved via a patented technology that was invented by the Company's Founder and CSO, Dr. Per G
Djupesland.

Avista Capital Partners is a leading private equity firm with offices in New York, NY and Houston, TX.
Founded in 2005, Avista's strategy is to make controlling or influential minority investments primarily in
growth-oriented healthcare, energy, and media companies. Through its team of seasoned investment
professionals and industry experts, Avista seeks to partner with exceptional management teams to
invest in and add value to well-positioned businesses. For more information, visit www.avistacap.com.

WFD Ventures is a New York based venture capital firm investing in medical device companies with
exceptional potentials. In addition to capital, WFD provides product development, regulatory and
commercialization guidance to its portfolio companies. For more information, visit
www.wfdventures.com.