Interim results for the third quarter 2010 for Biotec Pharmacon ASA

HIGHLIGHTS

§ Results from studies in mice confirm suspected differences in SBG

performance depending on the type of product container used

§ New and more robust gel compositions are now being tested for stability and

for efficacy in an animal model

§ Regulatory authorities within EU confirm that a beta-glucan based Wound

Healing product may be classified as a medical device

§ The recombinant SAP with improved performance has been well received in the

market

§ The new agreement related to the MARZymes project substantially increases

the pipeline and longer-term sales potential for Marine Biochemicals.

FINANCIAL DEVELOPMENT AND POSITION

Overall EBITDA was NOK -7.3 million in the third quarter 2010, compared to NOK

-27.1 million in the third quarter 2009. The company is debt free with NOK 23

million in cash and an unused credit facility of NOK 10 million. Completion of

the phase III clinical trials and workforce reductions in the parent company has

significantly reduced the cash burn in the Group.

OUTLOOK

§ Beta-Glucans: New robust SBG-based gel compositions with improved stability

will be tested for efficacy in mice. The objective is to select a composition

for development of a medical device, and discussions with potential partners are

ongoing.

§ Marine Biochemicals: Revenue and profitability are in line with

expectations for the full-year, as indicated by all times high revenues of NOK

3.8 million in October. Enzyme candidates from the MabCent and MARZymes

collaboration projects with the University of Tromsø are currently being

evaluated for commercialization potential.

Please find attached the full interim report for the third quarter 2010.

For further information, please contact:

Svein W. F. Lien - CEO: +47 92289323

The company hosts a presentation of the interim results on November 12th at

09:00 at Vika Atrium Konferansesenter (Thon Conference Vika Atrium),

Munkedamsveien 45, Oslo.

The presentation will also be available as webcast with log on at

www.biotec.no.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1461787]

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