SoftOx Solutions AS: Final grant agreement with the European Defence Fund signed

09 Jan 2023 07:30 CET

Reference is made to the stock exchange announcement from SoftOx Solutions AS on
20 July 2022 regarding the result of the European Defence Fund (EDF) application
and The Commissariat a l’Energie Atomique et aux Energies Alternatives press
release on the 6th of January 2023.

SoftOx Solutions , a medtech and clinical-stage pharmaceutical company based in
Oslo, Norway, announces the signing of the final grant agreement for the
COUNTERACT Consortium - which includes SoftOx - with the European Defence Fund.
COUNTERACT aims to reinforce the European Union’s preparedness for chemical,
biological, radiological and nuclear (CBRN)-type threats. The project includes
pre-clinical and clinical studies on the safety and efficiency of medical
countermeasures targeting CBRN-type threats.

The project will cover a four-year period and started in December 2022. This
project brings together key European players: from 11 EU Member states (five
universities; three technological research bodies; ten public research
institutes; eight SME and start-ups). 19 of these are related to the part of the
project where SoftOx
is involved. SoftOx is a part of the COUNTERACT consortium, and the SoftOx
technology is one of the three main technologies forming the basis for the
grant. This funding of NOK 97 million related to the first of four possible
phases, will contribute to the development of an MCM inhalator based on the
SoftOx technology.
EDF communicates a willingness to continue giving support to technologies that
deliver results in line with expectations. New calls will be announced on an
annual basis through 2027.

“This first grant is a significant recognition of our work, and we are proud
that the EU Commission has invested in the SoftOx technology to strengthen
preparedness against chemical and biological weapons,” said Christian Harstad,
interim CEO of SoftOx. “This project with the COUNTERACT Consortium gives us the
opportunity to further develop our inhalation solution for which there is a
significant need in both the civil and military markets. This grant states our
potential to double the size of the markets we aim to approach with the SoftOx
inhalation solution.”

Due to expected synergies, it is anticipated that participating in the EDF
program will reduce the need for investments both on the civil and defence
development of a SoftOx inhalation solution. The civilian market opportunity is
larger because of the inhalator’s potential as a first-line treatment of human
respiratory infections.

It is the SoftOx subsidiary SoftOx Defense Solutions AS that is part of the
COUNTERACT consortium.

COUNTERACT objectives:

• Develop and mature four types of medical countermeasures, for which two
will aim to achieve the stage of application for authorization to place
the products on the market by the European Medicines Agency;

• Promote EU independence in the development and production of countermeasures
against NRBC threats by establishing a European network of sustainable
industries,research laboratories, research bodies and clinical centers,
aiming to achieve a flexible and efficient umbrella structure for the
health
sector targeting defense;

• Draw up a road map for the development of the future generation of medical
countermeasures against current and future threats, simplify the process

for obtaining market authorizations, guarantee independent EU
supply chains and prepare storage and deployment strategies.


For any enquiries, please contact:

Geir Almås, Chair of the board of SoftOx Solutions AS (+47) 977 59 071
Christian Harstad, Interim CEO of SoftOx Solutions AS (+47) 926 58 766
Mail: ir@soft-ox.com
Phone: Front Desk: (+47) 948-59-599


About SoftOx Solutions AS

SoftOx Solutions AS (SoftOx, listed on Euronext Growth Oslo) is a medtech and
clinical-stage pharmaceutical company based in Oslo, Norway, with the goal of
reducing the spread of infection and emergence of antimicrobial resistance.
For more information on SoftOx, visit www.soft-ox.com

More information:
Access the news on Oslo Bors NewsWeb site

579779_CP Counteract VF English.pdf