BerGenBio announces advancement of its strategic review

17 Mar 2025 07:00 CET

Bergen, Norway, March 17, 2025 - Reference is made to the stock exchange
announcement on 25 February 2025 from BerGenBio ASA (OSE: BGBIO) (the
"Company"), a clinical-stage biopharmaceutical company developing the novel,
selective AXL kinase inhibitor bemcentinib for serious diseases, in which the
Company amongst other things announced that it will explore strategic
alternatives. The Company today announced that it has engaged Carnegie AS[i], an
entity within the DNB Bank ASA group, as its financial advisor to assist in the
Company's review of strategic alternatives. The management and Board of
Directors of the Company have together with Carnegie initiated exploration of
potential strategic alternatives that may include, but are not limited to, an
acquisition, merger, business combination, sale of assets, licensing, or other
transactions. The Company does not intend to disclose further developments
unless and until it is determined that further disclosure is appropriate or
legally required.

The Company also announces that it has already implemented significant cost
-containment and cash conservation measures.

Contacts

Olav Hellebø, CEO BerGenBio ASA

ir@bergenbio.com

Rune Skeie, CFO, BerGenBio ASA

rune.skeie@bergenbio.com

Jan Lilleby,Investor Relations / Media Relations

jl@lillebyfrisch.no

About BerGenBio ASA

BerGenBio is a clinical-stage biopharmaceutical company focused on developing
transformative drugs targeting AXL as a potential cornerstone of therapy for
aggressive diseases, including cancer. BerGenBio is based in Bergen, Norway with
a subsidiary in Oxford, UK. The company is listed on the Oslo Stock Exchange
(ticker: BGBIO). For more information, visitwww.bergenbio.com.

Forward looking statements

This announcement may contain forward-looking statements, which as such are not
historical facts, but are based upon various assumptions, many of which are
based, in turn, upon further assumptions. These assumptions are inherently
subject to significant known and unknown risks, uncertainties, and other
important factors. Such risks, uncertainties, contingencies, and other important
factors could cause actual events to differ materially from the expectations
expressed or implied in this announcement by such forward-looking statements.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

[i] Part of DNB Bank ASA

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