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RNS - BerGenBio ASA: Update on Strategic Review Process and Status of Activities

Company: BerGenBio Date: 2025-06-03 Language: English Register to download

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 BerGenBio ASA: Update on Strategic Review Process and Status of Activities

# BerGenBio ASA: Update on Strategic Review Process and Status of Activities

Bergen, 3 June 2025 - Reference is made to previous stock exchange announcements  

from BerGenBio ASA ("BerGenBio" or the "Company") dated 25 February 2025 and 17  

March 2025 regarding the Company's ongoing strategic review process.  

  

Strategic review process is ongoing  

  

With reference to the announcement 17 March 2025, engaging DNB Carnegie as  

financial advisor for the strategic review process, the process remains ongoing.  

As previously communicated, the Board of Directors will, as part of this  

process, consider a range of options for the Company, including, among other  

things, a potential sale, merger, or other strategic transaction. There can be  

no assurance that this review will result in any transaction. The Company will  

announce further updates when appropriate and expects to conclude the process by  

the end of July.  

  

Closedown of remaining bemcentinib activities  

  

The Board of Directors has decided to discontinue all remaining development  

activities for bemcentinib as there are limited financial justification to  

pursue further activities.  

  

Estimated free cash after closure of activities  

  

The Company has implemented significant cost-containment and cash conservation  

measures. Free cash after closure of all activities and settlement of any  

potential liabilities is estimated to be in the range of NOK 40 - 45 million.  

  

Contacts  

  

Olav Hellebø, CEO BerGenBio ASA  

ir@bergenbio.com  

  

Rune Skeie, CFO, BerGenBio ASA  

rune.skeie@bergenbio.com  

  

Jan Lilleby, Investor Relations / Media Relations  

jl@lillebyfrisch.no  

  

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.

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