ArcticZymes Technologies — Earnings Release 2014

Feb 16, 2015

Biotec Pharmacon: Results for Q4 and full year 2014

Biotec Pharmacon: Results for Q4 and full year 2014

(Tromsø, 16 February 2015) Biotec Pharmacon ASA ("Biotec", OSE: BIOTEC) reported

revenues of NOK 10.0 million in fourth quarter 2014, corresponding to a growth

of 89 per cent (5.3), and a negative EBITDA of NOK 5.8 million (-6.3). The

evaluation study for Woulgan® Biogel progresses according plan and is expected

to be completed at the end of the first quarter 2015.

- The evaluation study for Woulgan® Biogel is progressing according plan, with

several new study centers included in Germany and UK. We expect the study to be

completed at the end of the first quarter 2015, says Svein Lien, CEO of Biotec.

Revenues in the fourth quarter 2014 ended at NOK 10.0 million (5.3), with an

EBITDA of NOK -5.8 million (-6.3). Sales revenues from beta-glucans and enzymes

were NOK 5.7 and 4.3 million, respectively. The Company has solid financial

headroom with a cash balance exceeding NOK 88 million at the end of the fourth

quarter.

The evaluation study conducted by Smith & Nephew is progressing according to

plan with a total of 10 enrolled sites in Germany and 8 sites in the UK.

- Early results from the evaluation study published at "Wounds UK" in December

2014 showed that patients experienced improved healing during the treatment

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

It was also reported that Woulgan® Biogel was easily applied to the wounds and

had no side effects, says Lien.

Biotec and Smith & Nephew continue the process to clarify the basis for a long

-term agreement while the study is being completed. As the exclusivity agreement

with Smith & Nephew has expired, consequently strengthening Biotec´s strategic

position, parallel and attractive routes to commercialize Woulgan® Biogel are

pursued.

- With the strong preliminary test results for Woulgan® Biogel, Biotec is

confident that the product can obtain a strong market position in the advanced

wound care market. Following the completion of the ongoing study, Biotec expects

to enter into one or more distribution partner agreements. The main focus is to

enter into agreements securing the full commercial potential of Woulgan® Biogel,

says Svein Lien.

The completed interim report for Q4 and full year 2014 is enclosed. The Company

is hosting a presentation February 17, 2015 at 08:30 CET at Thon Vika Atrium,

Munkedamsveien 45, 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 obtained CE-mark for Woulgan® Biogel

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

where rapid technological developments are creating a strong demand for new and

improved enzymes.