Arctic Bioscience — Share Issue/Capital Change 2021

Jul 12, 2021

Arctic Bioscience - PIR IV INVEST to distribute shares in Arctic Bioscience to fund investors

Arctic Bioscience - PIR IV INVEST to distribute shares in Arctic Bioscience to fund investors

PIR IV INVEST AS ("PIR IV"), an early stage investment SPV and major shareholder

in Arctic Bioscience AS ("Arctic Bioscience"), today announced the planned

dissolvement of the SPV. As a consequence, its shares in Artic Bioscience will

be re-allocated to the SPV's individual investors. PIR IV holds 2,188,250

million shares in Arctic Bioscience, corresponding to 9.0% of total shares

outstanding.

In connection with the IPO of Arctic Bioscience, PIR IV entered into a customary

lock-up agreement to remain in force to and including 365 calendar days after

the date of admission to trading on Euronext Growth Oslo. The obligations under

the lock-up agreement will in connection with the distribution be transferred to

each of the fund investors.

PIR IV is a regional early stage investment fund, investing in local growth

companies with international commercialization and expansion potential. Among

the fund investors are two companies that are represented in the board of

directors of Arctic Bioscience, Ronja Capital II and Ajea Invest AS.

Ronja Capital II holds a 12.8% share in PIR IV and will be allocated 279,795

shares in Arctic Bioscience in connection with the dissolvement of PIR IV. Ronja

Capital II is a wholly owned subsidiary of Ronja Capital AS. Following the

transaction, companies controlled by Ronja Capital AS and close associates holds

2,104,166 shares in Arctic Bioscience, corresponding to 8.7% of total shares

outstanding. Tore Tønseth, board member and primary insider in Arctic Bioscience

is investment director in Ronja Capital AS.

Ajea Invest AS, a company controlled by board member Asbjørn Solevågseide, also

holds a 12.8% share in PIR IV, and will be allocated 279,795 shares in Arctic

Bioscience in connection with the dissolvement of PIR IV. Following the

transaction companies controlled by Asbjørn Solevågseide holds 555,359 shares in

Arctic Bioscience, corresponding to 2.3% of the total shares outstanding.

Solevågseide is also chairman of the board in PIR IV.

"The dissolvement of PIR IV is according to strategy and mandate, and we want to

express our continued strong commitment to support Arctic Bioscience through the

development stages of the company's pharmaceutical program over the coming

years. With its drug candidate for mild-to-moderate psoriasis currently in phase

IIb development, the company is uniquely positioned to take a significant share

of this multi-billion dollar global market and improve quality of life for the

20 million patients with this disease.  Furthermore, we believe there is strong

growth potential in the company's Romega product," says Solevågseide,

representing PIR IV.

Please see the enclosed form for further information about the transaction.

For more information, please contact

Asbjørn Solevågseide

Phone: +47 900 18 222E-mail: aso@ajea.no

About Arctic Bioscience

Arctic Bioscience is a biotech company developing pharmaceutical and

nutraceutical products based on the unique properties of herring roe oil,

composed of complex bioactive marine compounds, including lipids essential to

maintaining cell membranes. The nutraceutical products contain lipids which

contribute to the normal functioning of brain, heart and vision.

The company is developing a novel drug candidate (HRO350) for mild-to-moderate

psoriasis, a large global patient population where there is substantial need for

effective, convenient and cost-effective new medicines with beneficial safety

profiles. Nutraceuticals from Arctic Bioscience are sold worldwide as bulk

ingredients to other companies making dietary supplements (B2B) and as finished

goods under the ROMEGAT brand (B2C), with significant expansion potential all

channels and regions.

To support its long-term growth strategy, Arctic Bioscience is planning a state

-of-the-art manufacturing facility in Ørsta. Easy access to the raw material and

proprietary production processes will increase control of the value chain,

improve margins and enable large-scale, high-quality manufacturing.

Arctic Bioscience is led by a highly competent team with significant expertise

developing marine oils and extensive experience from some of the world's leading

pharmaceutical, technology and financial services companies.

This information is subject to the disclosure requirements in EU Market Abuse

Regulations (MAR) 596/2014 article 19 number 3 and the Norwegian Securities

Trading Act § 5-12.