BerGenBio

Regulatory Filings • Feb 4, 2019

BerGenBio announces the allocation of R&D grant of up to NOK 12m awarded by Research Council of Norway

BerGenBio announces the allocation of R&D grant of up to NOK 12m awarded by Research Council of Norway

Bergen, Norway, February 4, 2019 - BerGenBio ASA (OSE:BGBIO), today announced the award of a grant from the Research Council of Norway under the user-driven innovation area (BIA) programme.

Subject to completion of contract negotiations between BerGenBio and the Research Council, up to NOK 12 million will be disbursed over a three-year period starting in 2019. Proceeds will be used to fund research into AXL’s role in fibrotic diseases.

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About the Research Council of Norway and BIA

The Research Council of Norway (“Forskningsrådet”) is a government agency under the Norwegian Ministry of Education and Research and is responsible for the promotion and targeted funding of research and science.

The user-driven innovation area (BIA) programme is a competitive grant scheme for R&D projects carried out in the private sector aimed at solving particular challenges related to the applicant’s business activities and corporate strategy. Funds are disbursed over a period of up to four years and are to be matched with funds controlled by the applicant.

About AXL

AXL kinase is a cell membrane receptor and an essential mediator of the

biological mechanisms underlying life-threatening diseases. In cancer, AXL

suppresses the body's immune response to tumours and drives cancer treatment

failure across many indications. AXL inhibitors, therefore, have potential high

value at the centre of cancer combination therapy, addressing significant unmet

medical needs and multiple high-value market opportunities. Research has also

shown that AXL mediates other aggressive diseases.

About BerGenBio ASA

BerGenBio is a clinical-stage biopharmaceutical company focused on developing

transformative drugs targeting AXL as a potential cornerstone of therapy for

aggressive diseases, including immune-evasive, therapy resistant cancers. The

company's proprietary lead candidate, bemcentinib, is a potentially first-in

-class selective AXL inhibitor in a broad phase II oncology clinical

development programme focussed on combination and single agent therapy in lung

cancer and leukaemia. A first-in-class functional blocking anti-AXL antibody is

undergoing Phase 1 clinical testing. In parallel, BerGenBio is developing a

companion diagnostic test to identify those patient populations most likely to

benefit from bemcentinib: this is expected to facilitate more efficient

registration trials supporting a precision medicine-based commercialisation

strategy.

BerGenBio is based in Bergen, Norway with a subsidiary in Oxford, UK. The

company is listed on the Oslo Stock Exchange (ticker: BGBIO). www.bergenbio.com

Contacts

Richard Godfrey CEO, BerGenBio ASA

+47 917 86 304

Rune Skeie, CFO, BerGenBio ASA

rune.skeie@bergenbio.com

+47 917 86 513

International Media Relations

David Dible, Mark Swallow, Marine Perrier, Citigate Dewe Rogerson

bergenbio@citigatedewerogerson.com

+44 207 638 9571

Media Relations in Norway

Jan Petter Stiff, Crux Advisers

stiff@crux.no

+47 995 13 891

Forward looking statements

This announcement may contain forward-looking statements, which as such are not

historical facts, but are based upon various assumptions, many of which are

based, in turn, upon further assumptions. These assumptions are inherently

subject to significant known and unknown risks, uncertainties and other

important factors. Such risks, uncertainties, contingencies and other important

factors could cause actual events to differ materially from the expectations

expressed or implied in this announcement by such forward-looking statements.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.