Arctic Bioscience — Regulatory Filings 2023

Feb 1, 2023

Arctic Bioscience - First patient included in HRO350 Phase IIb clinical trial in the UK

Arctic Bioscience - First patient included in HRO350 Phase IIb clinical trial in the UK

Reference is being made to the stock exchange release from January 12[th] 2023

where Arctic Bioscience announced that the Clinical Trial Application (CTA) for

a Phase IIb clinical trial in mild-to-moderate psoriasis with the

investigational medicinal product (IMP) HRO350 was approved in the United

Kingdom (UK).

Arctic Bioscience has met a key milestone in the drug development program for

HRO350. The first patient has been included in the clinical trial "A phase IIb,

multicenter, randomized, double-blind, placebo-controlled, dose-finding,

efficacy and safety study of HRO350 in patients with mild-to-moderate psoriasis"

(the 'HeROPA' study) in the UK. This is the start of the clinical study.

"This is the kickoff. Our innovative and highly competent team has been working

diligently for several years towards this breakthrough. Following the successful

approval from the UK medicines authorities, a clinic in the UK has included the

first patient. This is a great occasion for Arctic Bioscience, which was listed

on EuroNext Growth in 2021 raising funds to conduct this study", comments

Christer L. Valderhaug, CEO of Arctic Bioscience.

The international study is planned to be conducted in five countries, with a

total of 519 patients. A six-month inclusion period is expected, with first data

readout six months after last patient is included.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.

For further information, please contact:

Christer L. Valderhaug

CEO of Arctic Bioscience AS

Mobile: +47 920 84 601

Email: christer@arctic-bioscience.com

Jone R. Slinning

CFO of Arctic Bioscience AS

Mobile: +47 948 75 469

Email: jone@arctic-bioscience.com

About Arctic Bioscience

Arctic Bioscience is a biotech company developing and commercializing

pharmaceutical and nutraceutical products based on unique bioactive marine

compounds.

The company is developing HRO350 - a novel oral drug candidate. HRO350 is being

developed for treatment of patients with mild-to-moderate psoriasis. This is a

large patient group in need of new effective medicines with beneficial safety

profile.

Nutraceuticals from Arctic Bioscience are sold globally as bulk ingredients as

well as finished goods under the ROMEGA® brand.

Arctic Bioscience is led by a team of highly competent people with experience in

developing marine oils and experience from global pharmaceutical companies.