BerGenBio

BerGenBio announces advancement of its strategic review

Bergen, Norway, March 17, 2025 - Reference is made to the stock exchange

announcement on 25 February 2025 from BerGenBio ASA (OSE: BGBIO) (the

"Company"), a clinical-stage biopharmaceutical company developing the novel,

selective AXL kinase inhibitor bemcentinib for serious diseases, in which the

Company amongst other things announced that it will explore strategic

alternatives. The Company today announced that it has engaged Carnegie AS[i], an

entity within the DNB Bank ASA group, as its financial advisor to assist in the

Company's review of strategic alternatives. The management and Board of

Directors of the Company have together with Carnegie initiated exploration of

potential strategic alternatives that may include, but are not limited to, an

acquisition, merger, business combination, sale of assets, licensing, or other

transactions. The Company does not intend to disclose further developments

unless and until it is determined that further disclosure is appropriate or

legally required.

The Company also announces that it has already implemented significant cost

-containment and cash conservation measures.

Contacts

Olav Hellebø, CEO BerGenBio ASA

Rune Skeie, CFO, BerGenBio ASA

Jan Lilleby,Investor Relations / Media Relations

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 cancer. BerGenBio is based in Bergen, Norway with

a subsidiary in Oxford, UK. The company is listed on the Oslo Stock Exchange

(ticker: BGBIO). For more information, visitwww.bergenbio.com.

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.

[i] Part of DNB Bank ASA

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