BerGenBio

Prospectus • Apr 3, 2017

BerGenBio ASA - APPLICATIONS BY PRIMARY INSIDERS

BerGenBio ASA - APPLICATIONS BY PRIMARY INSIDERS

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES, OR IN OR

INTO THE UNITED STATES, CANADA, AUSTRALIA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF

THE PEOPLE'S REPUBLIC OF CHINA, SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH

THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE

SEE THE IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

BerGenBio ASA - APPLICATIONS BY PRIMARY INSIDERS

Bergen, 3 April 2017. Reference is made to the stock exchange announcement dated 28 March

2017, regarding the launch of the initial public offering (the "Offering") of shares of BerGenBio

ASA ("BerGenBio", the "Company", OSE ticker code: "BGBIO").

Today the following primary insiders have applied for offer shares in the retail offering:

- K og K AS (a company of which the member of the Board of Directors Kari Grønås owns

shares) has applied for offer shares for a total amount of NOK 300,000.

- Endre Kjærland (Associate Director of IP and Contracts) has applied for offer shares for a total

amount of NOK 100,000.

The applications have been made according to the terms and conditions for the Offering

described in the prospectus dated 28 March 2017 (the "Prospectus") prepared in connection

with the Offering.

The Prospectus is, subject to regulatory restrictions in certain jurisdictions, available at

www.bergenbio.com, www.abgsc.no, www.arctic.com/secno and www.dnb.no/emisjoner. Hard

copies of the Prospectus may be obtained free of charge at the offices of BerGenBio at Jonas Lies vei

91, N-5009 Bergen, Norway, or by contacting one of the Managers (as defined below). ABG

Sundal Collier ASA, Arctic Securities and DNB Markets (a branch of DNB Bank ASA) are acting as

Joint Global Coordinators and Joint Bookrunners in the IPO. The Joint Global Coordinators

and Joint Bookrunners are herein referred to as the "Managers". Nordnet Bank NUF is acting as

Placing Agent in the retail offering on behalf of the Managers.

About BerGenBio

BerGenBio (Bergen, Norway) is a clinical-stage biopharmaceutical company focused on

developing a pipeline of first-in-class Axl kinase inhibitors to treat multiple cancer indications.

The Company is a world leader in understanding the central role of Axl kinase in promoting cancer

spread, immune evasion and drug resistance in multiple aggressive hematological and solid

cancers.

BerGenBio's lead product, BGB324, is a selective, potent and orally bio-available small molecule

Axl inhibitor in Phase II clinical development in three major cancer indications. It is the only

selective Axl inhibitor in clinical development. BGB324 is being developed by BerGenBio as a

single agent therapy in acute myeloid leukaemia (AML)/myeloid dysplastic syndrome (MDS) and

in combination with TARCEVA® (erlotinib) in advanced non-small-cell lung cancer (NSCLC); and

in combination with KEYTRUDA® (pembrolizumab) in advanced NSCLC and triple negative

breast cancer (TNBC) in collaboration with Merck & Co. Inc. (MSD).

The Company is also developing a diversified pre-clinical pipeline of selective Axl inhibitors

including BGB149, anti-Axl monoclonal antibody.

For further information, please visit: www.bergenbio.com

KEYTRUDA® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck &

Co., Inc. TARCEVA® is a registered trademark of OSI Pharmaceuticals, LLC.

Enquiries

Richard Godfrey, CEO

richard.godfrey@bergenbio.com, +47 917 86 304

For International media enquiries

David Dible / Mark Swallow / Marine Perrier, Citigate Dewe Rogerson

bergenbio@citigatedr.co.uk, +44 207 638 9571

For media enquiries in Norway

Mitra Hagen Negård / Steinar Flaa, First House

bergenbio@firsthouse.no, +47 21 04 62 18

IMPORTANT NOTICE

The information contained in this announcement is for background purposes only and does not

purport to be full or complete. No reliance may be placed for any purpose on the information

contained in this announcement or its accuracy, fairness or completeness.

These materials do not constitute or form a part of any offer or solicitation to purchase or

subscribe for securities in any jurisdiction where such offer or sale would be unlawful and the

announcement and the information contained herein are not for distribution or release, directly

or indirectly, in or into such jurisdictions.

United States

These materials may not be published, distributed or transmitted in the United States, Canada,

Australia, the Hong Kong Special Administrative Region of the People's Republic of China,

South Africa or Japan. These materials do not constitute an offer of securities for sale or a

solicitation of an offer to purchase securities (the "Shares") of BerGenBio in the United States,

Norway or any other jurisdiction. The Shares of the Company may not be offered or sold in the

United States absent registration or an exemption from registration under the U.S. Securities

Act of 1933, as amended (the "Securities Act"). The Shares of the Company have not been, and

will not be, registered under the Securities Act. Any sale in the United States of the securities

mentioned in this communication will be made solely to "qualified institutional buyers" as defined

in Rule 144A under the Securities Act.

European Economic Area

Any offering of securities will be made by means of a prospectus to be published that may be

obtained from the Company or selling security holder and that will contain detailed information

about the Company and its management, as well as financial statements. These materials are an

advertisement and not a prospectus for the purposes of Directive 2003/71/EC, as amended

(together with any applicable implementing measures in any Member State, the "Prospectus

Directive"). Investors should not subscribe for any securities referred to in these materials

except on the basis of information contained in the Prospectus. In any EEA Member State other

than Norway and Sweden (from the time the prospectus has been approved by the Financial

Supervisory Authority of Norway, in its capacity as the competent authority in Norway, and

passported to Sweden and published in accordance with the Prospectus Directive) that has

implemented the Prospectus Directive, this communication is only addressed to and is only

directed at "qualified investors" in that Member State within the meaning of Article 2(1)(e) of the

Prospectus Directive ("Qualified Investors"), i.e., only to investors to whom an offer of securities

may be made without the requirement for the Company to publish a prospectus pursuant to

Article 3 of the Prospectus Directive in such EEA Member State.

United Kingdom

In the United Kingdom, these materials are only being distributed to and are only directed at

Qualified Investors who (i) are investment professionals falling within Article 19(5) of the

Financial

Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or

(ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies,

unincorporated associations, etc.) (all such persons together being referred to as "Relevant

Persons"). These materials are directed only at Relevant Persons and must not be acted on or

relied on by persons who are not Relevant Persons. Any investment or investment activity to

which this document relates is available only to Relevant Persons and will be engaged in only

with Relevant Persons.

Matters discussed in this announcement may constitute forward-looking statements. Forward-

looking statements are statements that are not historical facts and may be identified by words

such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may",

"continue", "should" and similar expressions. The forward-looking statements in this

announcement

are based upon various assumptions, many of which are based, in turn, upon further

assumptions. Although the Company believes that these assumptions were reasonable when

made,

these assumptions are inherently subject to significant known and unknown risks, uncertainties,

contingencies and other important factors which are difficult or impossible to predict and are

beyond its control. Such risks, uncertainties, contingencies and other important factors could

cause actual events to differ materially from the expectations expressed or implied in this

announcement by such forward-looking statements.

The IPO may be influenced by a range of circumstances, such as market conditions, and there is

no guarantee that the IPO will proceed and that the listing will occur.

The information, opinions and forward-looking statements contained in this announcement

speak only as at its date, and are subject to change without notice. The Company does not

undertake any obligation to review, update, confirm, or to release publicly any revisions to any

forward-looking statements to reflect events that occur or circumstances that arise in relation

to the content of this announcement.