LIFE: Lifecare achieves milestone

Bergen, Norway 02 June 2022

In the late hours of June 1st, 2022, the team at Lifecare NanoBioSenors
concluded successful, high quality and reproducible in-vitro test results with
the miniaturized Sencell sensor for glucose measurement. This is a milestone
achievement confirming functionality of Lifecares proprietary technology both in
the nanoscale of the miniaturized sensors, as well as the signal readout based
on the Nano Tunneling Resistive (NTR) pressure sensing. 


With this achievement Lifecare has reached the first of two major milestones for
1H 2022, the prototype fabrication for clinical trials. While the team at
Lifecare NanoBioSensors will ensure manufacturing of sensors for the upcoming
first-in-human pilot clinical study, Lifecare Laboratory will prepare the final
steps for initiation of the study in June. 

For Lifecare it is of particular importance that the current milestone
achievement is reached fully based on the internal resources in the Lifecare
Group. This is a strong confirmation of the successful strategic reorganization
of Lifecare AS initiated in Q2 2021.    

Lifecare CSO, Prof. Dr. Dr. Med. Andreas Pfützner, comments: "Reaching this
milestone with our new own infrastructure and scientists is a groundbreaking
science achievement for Lifecare! Our miniaturized NTR-sensors measure osmotic
pressure with the same performance as the large piezo-resistive-sensors that we
have used in the previous animal studies. Basic research is herewith
accomplished, and we are now executing the last and final development steps
required for the first in-human trial within a very short-term future." 

Preparations for the pilot clinical studies still includes both practical and
scientific risks, i.e. the complexity of manual production and device
sterilization. Based on the project experiences and preparations, Lifecare is
confident that these tasks will be solved in accordance with the project plan
and consequently lead to the first patient within end of June 2022.  

Lifecare CEO, Joacim Holter, comments: "We are very happy to announce the
achievement of this critical milestone within the planned scope of time. The
core team in the Lifecare Group has worked with dedication and focus, and it is
important for us to deliver this result to our solid base of shareholders. We
look forward to the tasks ahead of us which we now will approach with renewed
energy and confidence based on this practical and scientific milestone
achievement" 
    

This is Lifecare 
Lifecare is a Bergen-based technology company developing a miniaturized
implantable long-term sensor for correct and continuous monitoring of blood
sugar in people with diabetes. The Company's patented technology also has the
potential for use in various biomarkers. Lifecare AS is listed on Euronext
Growth (LIFE).

Further information
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 Kine Hereid, Investor Relations at Lifecare AS, on
2 June 2022 at 09:00 CET