Lifecare ASA

Regulatory Filings • Jun 10, 2024

LIFE Improved read out distance for sensor preparing for longevity trials in dogs

LIFE Improved read out distance for sensor preparing for longevity trials in dogs

Bergen, Norway, June 10th, 2024: Today, Lifecare ASA (LIFE), a clinical stage

medical sensor company developing the next generation Continuous Glucose

Monitor (CGM), announces that the company have improved the read-out distance

from sensor to the read-out device.

Reference is made to previous communications in the Q1 reporting regarding the

need to improve the read-out distance to start the pending longevity study.

This longevity study on dogs will be performed at the Norwegian University of

Life Sciences (NMBU), located in Ås, close to Oslo.

In the longevity study, the company will introduce wireless communication

between the implanted sensor and the outside read-out device. The Lifecare

team has been working with external specialized consultants to improve the

signal read-out distance to meet requirements, as defined by Lifecare.

The reports from factory acceptance tests conducted by Lifecare confirms

satisfactory read-out distance. This conclusion being important for two

reasons. Firstly, this means that Lifecare now are ready to start the

longevity study in dogs, only pending final internal in-vitro sensor quality

control. Secondly, the confirmed read-out distance meets Lifecare's

requirements from a product development perspective, additional improvements

for distance read-out are not expected to be necessary going forward. Given

that the quality in-vitro testing goes as planned, the longevity study can

start at NMBU in mid-June.

- Integration of wireless communication in our state-of-the-art sensor is a

sensitive matter, although solvable. Our engineers and scientist have improved

the read-out distance. For us, this was a question of when, not if, we could

meet the defined requirements. Now we can look forward to starting the

longevity study in June. Furthermore, given good results from the longevity

study and the ongoing progress towards automated production, the confirmed

read-out distance is an important progress towards product readiness in the

veterinary market, says CEO Joacim Holter at Lifecare.

Managing Director, Jo Amundstad of the subsidiary Lifecare Veterinary, will be

responsible for carrying out the study in collaboration with NMBU. - We are

fortunate to have with us some of the leading experts in internal medicine at

NMBU to take part in the studies. Among these, PhD candidate Sivert Nerhagen

has already been employed. He has taken part in the important preparations for

the longevity study, says Amundstad. He points out that the recruitment

process of patients for the study also is well under way.

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 19 no. 3. The information was submitted for publication

at 2024-06-10 08:25 CEST.