ArcticZymes Technologies — Earnings Release 2015

May 4, 2015

Biotec Pharmacon: Results for Q1 2015

Biotec Pharmacon: Results for Q1 2015

(Tromsø, 5 May 2015) Biotec Pharmacon ASA ("Biotec", OSE: BIOTEC) reported

revenues of NOK 12.3 million (4.1) in first quarter 2015, and a negative EBITDA

of NOK 2.8 million (-7.1). The Smith & Nephew evaluation study for Woulgan® was

completed at the end of the first quarter 2015.

- Biotec showed strong revenue development and improved operations in the first

quarter 2015, following mainly the positive sales development in our enzymes

business segment. In addition, Biotec reached an important milestone with the

completion of the Smith & Nephew evaluation study for Woulgan in the first

quarter, says Svein Lien, Chief Executive Officer of Biotec.

Revenues in the first quarter 2015 ended at NOK 12.3 million (4.1), with an

EBITDA of NOK -2.8 million (-7.1). Sales revenues from beta-glucans and enzymes

were NOK 4.7 and 7.6 million, respectively. The company has solid financial

headroom with a cash balance exceeding NOK 79 million at the end of the first

quarter.

The evaluation study conducted by Smith & Nephew was completed according to the

revised plan at the end of the first quarter 2015. In total, 150 patients

participated in the study. The majority of the patients treated with Woulgan®

had diabetic foot ulcers, but also a number of patients with venous leg ulcers

and other wounds were included. Following the completion of the evaluation

study, the data are being analyzed by Smith & Nephew.

- Preliminary results from 25% of the trial participants released to the Company

are encouraging. Patients experienced improved healing during the treatment

period as well as less pain and improved comfort compared to previous therapies,

says Lien.

The primary focus of Biotec going forward is to enter into agreement(s) which

will best possibly secure the full commercial potential of Woulgan®.

- Biotec is confident that Woulgan can obtain a strong market position in the

advanced wound care market. The company is intensifying its efforts to establish

the best possible business and partner model for commercialization of Woulgan,

which includes Smith & Nephew as well as other options, says Lien.

In the first quarter 2015, sales revenues from enzymes more than doubled

compared to the corresponding quarter last year, mainly reflecting incremental

volumes to large OEM customers.

- ArcticZymes continues to broaden its base of OEM customers in the kits and

reagents market segments. In the first quarter, ArcticZymes has focused on

developing its pipeline of B2B customer prospects with existing and new

customers as part of its strategy to grow the business and steer its future

product developments, says Svein Lien.

The completed interim report for Q1 2015 is enclosed. The company is hosting a

presentation 5 May, 2015 at 08:30 CET at Felix Konferansesenter, Bryggetorget 3,

Oslo.

For additional information,

Svein Lien, CEO, +47 922 89 323, svein.lien@biotec.no

About Biotec Pharmacon ASA:

Biotec Pharmacon ASA is the parent company of Biotec BetaGlucans AS and

ArcticZymes AS. Biotec BetaGlucans develops and manufactures novel

immunomodulating products, and has recently obtained CE-mark for Woulgan® Biogel

containing its proprietary substance SBG®. Woulgan®Biogel is a primary dressing

for one-time use on skin wounds, including diabetic ulcers, bedsores, leg

ulcers, transplantation wounds, post-surgery wounds, trauma wounds, first- and

second-degree burns, abrasions, and cuts. ArcticZymes develops, produces and

sells enzymes of marine origin used in molecular DNA technologies and

diagnostics, growth markets where rapid technological developments are creating

a strong demand for new and improved enzymes.