ArcticZymes Technologies — Board/Management Information 2017

Mar 16, 2017

Press release

Biotec Pharmacon's CEO, Svein W. F. Lien resigns due to health issues

(Oslo, 16 March 2017) Biotec Pharmacon ASA's ("Biotec", OSE: BIOTEC) CEO Svein W. F. Lien has today asked the Board to start a process to recruit a successor for him due to health issues.

"Several years ago I was successfully treated for cancer and have been symptom free ever since. However, the symptoms have now re-appeared, and though I do not expect them to have any short term implications, I am concerned the treatment will take focus and capacity away from my duty in the Company. I have therefore asked the Board to start a process to recruit my successor" says Svein Lien

The Board has entered into an agreement with Mr. Lien and will start the recruitment process immediately. Mr. Lien is committed to continue in his full capacity as CEO until a successor is on board, at which time he will step down. He will then remain a support for the new CEO and the Board throughout the 1st quarter 2018. He will be entitled to full compensation, including salary, bonus, pension contribution and other contractual benefits to the end of his employment on 31 March 2018.

"We are sorry to learn about Mr. Lien's disease and very much regret that he is leaving. However, we respect and support the decision he has taken and are confident he will do his utmost to lead and support the Company during this important period. Mr Lien has built a competent management team that will also ensure continuity and good leadership going forward." says Mr. Erik Thorsen, Chairman of Biotec Pharmacon ASA.

For additional information,

Erik Thorsen, Chairman, +47 907 56 685

About Biotec Pharmacon ASA:

Biotec Pharmacon ASA is the parent company of Biotec BetaGlucans AS and ArcticZymes AS. Biotec BetaGlucans develops, manufactures and markets novel immunomodulating products, including Woulgan®, a premium priced product in the advanced wound care market. ArcticZymes develops, produces and markets enzymes of marine origin used in molecular DNA technologies and diagnostics, representing growth markets where rapid technological developments are creating a strong demand for new and improved enzymes.