Exhibit 99.1

BIODEL REPORTS THIRD QUARTER FISCAL YEAR 2016 FINANCIAL RESULTS

DANBURY, Conn., August 11, 2016 (GLOBE NEWSWIRE) - Biodel Inc. (NASDAQ: BIOD) today reported financial results for the third fiscal quarter ended June 30, 2016.

In May 2016, Biodel announced its entry into a definitive share exchange agreement with Albireo Limited, a privately held biopharmaceutical company, and Albireo security holders. The proposed transaction is expected to result in a combined company focused on the development of novel bile acid modulators to treat orphan pediatric liver diseases, as well as other liver and gastrointestinal diseases and disorders. The proposed transaction remains subject to customary closing conditions, including the approval of the stockholders of Biodel. Following the closing of the proposed transaction, Biodel will be renamed Albireo Pharma, Inc., and Ron Cooper, the President and Chief Executive Officer of Albireo Limited, will become President and Chief Executive Officer of the combined company.

“During the third quarter, we have focused our attention on the proposed transaction with Albireo. We are enthusiastic about the proposed combination as we believe the combined company will benefit Biodel shareholders through the ownership of shares in a biopharmaceutical company with promising clinical assets and substantial upside opportunity,” said Gary G. Gemignani, Chief Executive Officer of Biodel. “We believe our cash resources, combined with the strength of Albireo’s management team, will enable Albireo Pharma to achieve key clinical events.”

“We expect to complete the transaction in the fourth calendar quarter of 2016,” concluded Mr. Gemignani.

Third Quarter Financial Results

Biodel reported a net loss of $3.1 million, or $0.05 per share, for the quarter ended June 30, 2016. These results compare to a net loss of $6.5 million, or $0.12 per share, for the quarter ended June 30, 2015. Biodel’s net loss in the third quarter of 2016 includes approximately $1.5 million in costs incurred related to the proposed transaction. Biodel did not recognize any revenue during the quarters ended June 30, 2016 or 2015.

At June 30, 2016, Biodel had cash and cash equivalents of $31.0 million and 64.1 million shares of common stock outstanding.



The following information was filed by Albireo Pharma, Inc. (ALBO) on Friday, August 12, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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