ArcticZymes Technologies — Earnings Release 2018

Apr 26, 2018

Biotec Pharmacon: Results for Q1 2018

Biotec Pharmacon: Results for Q1 2018

(Tromsø, 26 April 2018) Biotec Pharmacon ASA ("Biotec", OSE: BIOTEC) reported

sales of NOK 14.2 million (18.2) in the first quarter of 2018, and a negative

EBITDA of NOK 5.9 million (-4.1). Woulgan® generated sales of NOK 0.5 million

during the first quarter whereas ArcticZymes generated sales of NOK 6.3

milllion.

During the first quarter, results of a 300-patient study around the effects of

using Woulgan® versus standard care in treating difficult to heal wounds

confirmed the effectiveness of the product showing a healing rate of 62% versus

30% for standard care.

ArcticZymes generated a lot of interest in the gene therapy for its SAN product

increasing the number of customers to over 90. Initial orders are small, but

once the product is established within the customers supply chain, we foresee

larger orders.

Biotec Pharmacon continues to be involved in a study carried out by Memorial

Sloan Kettering Cancer Center in New York and the results of the first part of

the phase II study of the use of vaccine with SBG® as an adjuvant will be

published during ANR 2018 in San Francisco in May 2018.

In connection with the first quarter announcement, CEO Christian Jørgensen

states: "In January we informed that we would have a soft start to 2018. The

fundamentals of our business and the customer reaction to our products gives us

confidence in showing organic sales growth in 2018. We continue to manage our

cash and had a lower spend in the first quarter 2018 versus the same quarter

last year."

The complete interim report for Q1 2018 is enclosed. The company is hosting a

presentation on 26 April 2018 at 08:30 CET at Hotel Continental, Stortingsgata

24/26, Oslo.

For additional information,

Christian Jørgensen, CEO, +47 47 79 24 57 christian.jorgensen@biotec.no

Børge Sørvoll CFO, +47 95 29 01 87 borge.sorvoll@biotec.no

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®, an advanced wound care product

for stalled wounds with a proprietary medicinal ingredient. ArcticZymes

develops, produces and markets recombinant 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.