Lifecare ASA — M&A Activity 2021

Jun 24, 2021

Lifecare AS acquires Cantimed UG and broadens its biosensing capabilities

Lifecare AS acquires Cantimed UG and broadens its biosensing capabilities

Bergen, Norway 24.06.21

Lifecare AS has acquired 100% ownership of the German company Cantimed UG, following a share purchase agreement with Nanoscale Systems Nanoss GmbH.

The transaction includes a license ensuring Lifecare´s access to the patented Nano3DSense technology in the medical field. This implies a continuation of Lifecare’s license covering the field of diabetes originally established in 2018 – and in addition broadens the Lifecares license to cover the entire medical field. This is opening significant business opportunities for Lifecare to develope additional nanobiosensors. The transaction also gives Lifecare the right to sublicense the technology to third parties based on pre-approved conditions.

“The patented Nano3DSense technology is a key production method to miniaturize the Sencell sensing system, which will be based on highly sensitive micro-electronic mechanical systems and nano-cantilevers”, says Lifecare CSO Prof. Andreas Pfützner.

The combination of Lifecares proprietary Sencell technology and the Cantimed- licensed Nanos3DSense technology positions Lifecare as an innovative nanobiosensor company.

Cantimed will form the new operational basis of Lifecare in Germany as the development of Sencell and other various nanobiosensors based on Lifecares proprietary technologies evolves.

The transaction has a value of EUR 650 000, of which EUR 280 000 will be paid in cash on closing and the remaining EUR 370 000 will be paid within 24 months subject to and based on satisfaction of terms in the agreement.

“This transaction replaces Lifecares previous license at an originally agreed cost of total EUR 1,5 Million, limited to the field of diabetes”, says Joacim Holter, Lifecare CEO.

The ownership of Cantimed enables Lifecare to introduce its unique sensing system for glucose and many other analytes both in combination with the Sencell technology and as stand-alone nanobiosensors to cover a wide range of medical applications.

“In combination with the previously announced intention from the European Patent Office to grant Lifecare a new patent for the improved Sencell sensing system based on two chambers, and the extended cooperation with Bath University to develop chemistry solutions for additional analytes to fully use the improved osmotic-pressure based sensors, Lifecare is strategically well positioned to exploit the potential of the Nano3DSensing technology”, says Joacim Holter. “The implication of this transaction is important for Lifecare. Not only does it strengthen the ownership to our basic developments, but it also positions Lifecare as a leading company within the field of nanobiosensor developments”.

This is Lifecare

Lifecare is a Bergen-based technology company developing a miniaturized implantable long-term sensor for correct and continuous monitoring of blood sugar in people with diabetes. The company's patented technology also has the potential for use in various biomarkers. Lifecare AS is listed on Euronext Growth (LIFE).

Further information

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

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Kine Hereid, Investor Relations at Lifecare AS, on 24 June, 2021 at 08:30 CET.