LIFE: Lifecare ASA Q3 2024

13 Nov 2024 07:00 CET

Bergen, Norway, 13 November 2024: Today, Lifecare ASA (LIFE) (the "Company"),
a clinical stage medical sensor company developing the next generation
Continuous Glucose Monitor (CGM), publishes its Q3 2024 financial report and
operational update.

Lifecare continued to build positive momentum towards market introduction of
Sencell, our innovative next- generation Continuous Glucose Monitor (CGM).
Apart from significant technical confirmations of longevity and automation of
processes, the third quarter was characterized by preparations leading to
listing on Euronext Oslo Børs in October.

In the Company s longevity study, the first Sencell implant was removed after
12 weeks. Comprehensive evaluations, including visual inspection, biopsies,
and bacteriological testing, confirmed that no unexpected foreign body
reactions or adverse tissue responses occurred, affirming the biocompatibility
of the Sencell implant. These findings are based on previous laboratory
studies, where Sencell demonstrated an impressive longevity of 172 days,
surpassing the operational lifespan of all major CGM systems currently on the
market.

A major achievement this quarter has been the automation of critical stages in
the Sencell implant production process, a significant step forward in the
transition towards automated production. This advancement demonstrates the
Company's capability to scale production for both human and veterinary
applications.

- While our primary goal remains delivering a CGM product for the human
market, we are also addressing the substantial unmet demand in the veterinary
sector. Despite the less stringent regulatory requirements in this market, we
are committed to a rigorous development process to achieve human-grade quality
standards. Production fine-tuning is underway to achieve optimal consistency,
and we are progressing toward completing final testing by early 2025. This
approach will enable Lifecare to meet an essential need for pets and pet
owners with uncompromising quality as we continue the studies required to
obtain CE-mark approval for the Sencell implant in the human market, says CEO
Joacim Holter.

- In Q3, we entered into a strategic partnership with OneTwo Analytics, a
Swedish data analytics company specializing in diabetes data. This
collaboration will grant Lifecare access to OneTwo's advanced AI- and ML-based
software for real-time monitoring and automatic analysis of CGM data. OneTwo
will also develop a user-friendly mobile application, supporting both
veterinary and future human healthcare applications, says Holter.

Finally, on 22 October, Lifecare was successfully listed on Euronext Oslo
Børs. This milestone reflects the Company s ongoing efforts to balance
cutting-edge innovation with commercial readiness, meeting enhanced compliance
standards while increasing its visibility and accessibility to institutional
and international investors as Lifecare approaches the commercialization
phase.

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CEO Joacim Holter will today 11:00 CET present the results live at Carnegie
AS, Fjordalleen 16, Aker Brygge in Oslo.

To register for physical attendance and 1:1 meeting, please send an email to
ca@carnegie.no. To access the live webcast Join the Teams-meeting here
(https://teams.microsoft.com/l/meetup-join/19%3ameeting_ZmFmNTAzNTQtM2M2YS00Mjg1
LWJlNjEtMGM0YzcxY2U5MWE1%40thread.v2/0?context={"Tid"%3a"904e2f8f-5832-43bf-aea8
-7cbfde1c5d4c"%2c"Oid"%3a"382475a7-cf90-4587-b322-8c2dfa57332e"})

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 17. The information was submitted for publication at
2024-11-13 07:00 CET.

More information:
Access the news on Oslo Bors NewsWeb site

632005_Q3 2024 presentation.pdf
632005_Q3 2024 report.pdf