Lifecare ASA — Earnings Release 2024

Nov 13, 2024

LIFE: Lifecare ASA Q3 2024

LIFE: Lifecare ASA Q3 2024

Bergen, Norway, 13 November 2024: Today, Lifecare ASA (LIFE) (the "Company"),

a clinical stage medical sensor company developing the next generation

Continuous Glucose Monitor (CGM), publishes its Q3 2024 financial report and

operational update.

Lifecare continued to build positive momentum towards market introduction of

Sencell, our innovative next- generation Continuous Glucose Monitor (CGM).

Apart from significant technical confirmations of longevity and automation of

processes, the third quarter was characterized by preparations leading to

listing on Euronext Oslo Børs in October.

In the Company s longevity study, the first Sencell implant was removed after

12 weeks. Comprehensive evaluations, including visual inspection, biopsies,

and bacteriological testing, confirmed that no unexpected foreign body

reactions or adverse tissue responses occurred, affirming the biocompatibility

of the Sencell implant. These findings are based on previous laboratory

studies, where Sencell demonstrated an impressive longevity of 172 days,

surpassing the operational lifespan of all major CGM systems currently on the

market.

A major achievement this quarter has been the automation of critical stages in

the Sencell implant production process, a significant step forward in the

transition towards automated production. This advancement demonstrates the

Company's capability to scale production for both human and veterinary

applications.

- While our primary goal remains delivering a CGM product for the human

market, we are also addressing the substantial unmet demand in the veterinary

sector. Despite the less stringent regulatory requirements in this market, we

are committed to a rigorous development process to achieve human-grade quality

standards. Production fine-tuning is underway to achieve optimal consistency,

and we are progressing toward completing final testing by early 2025. This

approach will enable Lifecare to meet an essential need for pets and pet

owners with uncompromising quality as we continue the studies required to

obtain CE-mark approval for the Sencell implant in the human market, says CEO

Joacim Holter.

- In Q3, we entered into a strategic partnership with OneTwo Analytics, a

Swedish data analytics company specializing in diabetes data. This

collaboration will grant Lifecare access to OneTwo's advanced AI- and ML-based

software for real-time monitoring and automatic analysis of CGM data. OneTwo

will also develop a user-friendly mobile application, supporting both

veterinary and future human healthcare applications, says Holter.

Finally, on 22 October, Lifecare was successfully listed on Euronext Oslo

Børs. This milestone reflects the Company s ongoing efforts to balance

cutting-edge innovation with commercial readiness, meeting enhanced compliance

standards while increasing its visibility and accessibility to institutional

and international investors as Lifecare approaches the commercialization

phase.

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CEO Joacim Holter will today 11:00 CET present the results live at Carnegie

AS, Fjordalleen 16, Aker Brygge in Oslo.

To register for physical attendance and 1:1 meeting, please send an email to

ca@carnegie.no. To access the live webcast Join the Teams-meeting here

(https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZmFmNTAzNTQtM2M2YS00Mjg1LWJlNjEtMGM0YzcxY2U5MWE1%40thread.v2/0?context={"Tid"%3a"904e2f8f-5832-43bf-aea8-7cbfde1c5d4c"%2c"Oid"%3a"382475a7-cf90-4587-b322-8c2dfa57332e"})

About us

Lifecare ASA is a clinical stage medical sensor company developing technology

for sensing and monitoring of various body analytes. Lifecare's main focus is

to bring the next generation of Continuous Glucose Monitoring ("CGM") systems

to market. Lifecare enables osmotic pressure as sensing principle, combined

with the ability to manipulate Nano-granular Tunnelling Resistive sensors

("NTR") on the sensor body for read-out of pressure variations. Lifecare's

sensor technology is referred to as "Sencell" and is suitable for identifying

and monitoring the occurrence of a wide range of analytes and molecules in the

human body and in pets.

Contacts

For further information, please contact:

Joacim Holter, CEO, joacim.holter@lifecare.no, +47 40 05 90 40

Renete Kaarvik, CFO, renete.kaarvik@lifecare.no, +47 94 83 82 42

This information has been submitted pursuant to the Securities Trading Act §

5-12 and MAR Article 17. The information was submitted for publication at

2024-11-13 07:00 CET.