Lifecare signes lease agreement for 1000 sqm production and laboratory premises in Mainz

27 Apr 2023 08:00 CEST

In solemn circumstances yesterday late afternoon, Lifecare signed a lease for
new production facilities and a laboratory in Mainz, Germany. The letter of
intent entered into last autumn has thus been formalized with Innovationspark
Mainz GmbH & Co KG.

- The lease of production premises ensures modern and effective facilities
needed for Lifecares planned scale up of production, with necessary clean room
facilities and infrastructure for volume production. At the same time, this
contract will give us the desired co-location of our two German subsidiaries,
which are now located in Mainz and Reutlingen, says CEO Joacim Holter.

Lifecare's future German department will thus be located at the very entrance to
the city of Mainz, in the immediate vicinity of Johannes Gutenberg University
and Mainz Technical College. "LAB 1" is being built here, covering around 3,000
square metres. Lifecare AS will rent around 1,000 square meters on the first
floor. The company with headquarters in Bergen is now scheduled to move into LAB
1 in the summer of 2025. The duration of the lease is 10 years.

- It has been important for us to ensure continuity in an attractive and
central area in Germany with strong traditions in medtech. It has a close
location to the academic environment, and this is the first construction stage
of a new innovation park that will reinforce the innovative environment that
already characterizes the city and the region.

CSO in Lifecare, Prof. Andreas Pfützner points out that the building
construction and the facilities at the new innovation park also meet the
physical requirements necessary for Lifecare. “We are developing sensor
technology at the nano level. For this we need a building optimized to avoid
vibration or electrical interference, so that our sensitive production
procedures are not affected or disturbed by external conditions. The co-location
of the German units will also strengthen cooperation, make future operations
more efficient and provide even better utilization of our skilled employees”,
says Pfützner.

Lifecare is the first player to have signed an agreement in the new innovation
park. On Wednesday 3 May, there will be a ceremonial laying of the foundation
stone with the mayor and several ministers present.

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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.

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For further information, please contact:
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 Joacim Holter, CEO at Lifecare AS, on 27 April
2023 at 8:00 AM CET.

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