BerGenBio

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

Rune Skeie, CFO, BerGenBio ASA

Jan Lilleby, Investor Relations / Media Relations

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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