Lifecare ASA

Regulatory Filings • Feb 14, 2024

LIFE Progress towards pilot production and automatization

LIFE Progress towards pilot production and automatization

Bergen, Norway, 14 February 2024: Lifecare AS (LIFE), a clinical stage medical

sensor company developing the next generation Continuous Glucose Monitor

(CGM), has successfully finished the first and important step of software

implementation and coding for the upcoming automated pilot production. In

addition to this Lifecare has received confirmation of delivery of essential

equipment.

Reference is made to Lifecare's list of trigger events, as presented at the

semi-annual report of August 20th 2023 and later investor communication. The

launch of an automated production line by end of Q2 2024 is set as a major

milestone.

PROGRESS ON SOFTWARE CUSTOMIZATION

The software from Zeiss that Lifecare purchased in October 2023 is essential

to automate production with the Scanning Electron Microscopes (SEM) ordered

from Carl Zeiss IQS Deutschland GmbH (Zeiss). The team at Lifecare

NanoBioSensors in Reutlingen Germany is responsible for the specific software

customization. When finalized and implemented the customized software will

handle the automated pilot production of Lifecare's nano pressure sensors on

the sensor implants.

- We are happy to be able to finalize the first important step of our software

customization program. Our team has always been optimistic that this is the

right tool to produce our nanosensor-elements. Hence it is now satisfying to

see we are getting the necessary confirmations that the programming is working

as planned in this first stage of implementation, says CEO Joacim Holter at

Lifecare.

PROGRESS ON PRODUCTION EQUIPMENT

The adaptation and coding of the software from Zeiss are just one of several

things that can be confirmed these days. Lifecare has now also received

confirmation that the delivery of key equipment for the upcoming automated

pilot production is progressing according to the plan:

* In November 2023 Lifecare placed the purchase order for a SEM from the

German supplier Carl Zeiss AG. The SEM is a key component to manufacture

Lifecare's unique sensor for Continuous Glucose Monitoring applying osmotic

pressure as the sensing principle. The Zeiss XB350 electron microscope is

highly advanced and precise and especially suitable for the Lifecare's

automated production application.

Supplier has now confirmed the delivery of equipment in Q2 2024.

* In December 2023 Lifecare placed the final purchase order for further

automated production components; a BioScaffolder ("BS 3.3) and a customized

Nano-Plotter ("NP 2.1") from the German supplier GeSiM mbH. This equipment

will be essential tools for the automated process of filling Lifecare's

proprietary and patented glucose-reactive chemical solution in the nanosized

chambers of the sensors, also applying the nano-porous membranes to seal the

chambers after filling.

Supplier has now confirmed the delivery of equipment in Q2 2024.

- There are several important pieces that have now fallen into place. The

Lifecare organization has recently made successful appointments of key

personnel such as CFO and Production Manager. The organization is now

strengthened with additional key competences as more cornerstone equipment

being delivered as planned. This is reassuring. We see that we are now really

on the brink of automated pilot production and a new era for our sensor

technology, says CEO Joacim Holter.

About us

Lifecare AS 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.

Contacts

For further information, please contact:

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

Asle Wingsternes, Head of Communications & Public Affairs,

asle.wingsternes@lifecare.no, +47 41 61 42 52