LIFE: Lifecare AS acquires Cantimed UG and broadens its biosensing capabilities

Bergen, Norway 24.06.21

Lifecare AS has acquired 100% ownership of the German company Cantimed UG,
following a share purchase agreement with Nanoscale Systems Nanoss GmbH.  

The transaction includes a license ensuring LifecareŽs access to the patented
Nano3DSense technology in the medical field. This implies a continuation of
Lifecare's license covering the field of diabetes originally established in 2018
- and in addition broadens the Lifecares license to cover the entire medical
field. This is opening significant business opportunities for Lifecare to
develope additional nanobiosensors. The transaction also gives Lifecare the
right to sublicense the technology to third parties based on pre-approved
conditions.  

"The patented Nano3DSense technology is a key production method to miniaturize
the Sencell sensing system, which will be based on highly sensitive
micro-electronic mechanical systems and nano-cantilevers", says Lifecare CSO
Prof. Andreas Pfützner. 
The combination of Lifecares proprietary Sencell technology and the Cantimed-
licensed Nanos3DSense technology positions Lifecare as an innovative
nanobiosensor company. 

Cantimed will form the new operational basis of Lifecare in Germany as the
development of Sencell and other various nanobiosensors based on Lifecares
proprietary technologies evolves. 
The transaction has a value of EUR 650 000, of which EUR 280 000 will be paid in
cash on closing and the remaining EUR 370 000 will be paid within 24 months
subject to and based on satisfaction of terms in the agreement.
"This transaction replaces Lifecares previous license at an originally agreed
cost of total EUR 1,5 Million, limited to the field of diabetes", says Joacim
Holter, Lifecare CEO. 
The ownership of Cantimed enables Lifecare to introduce its unique sensing
system for glucose and many other analytes both in combination with the Sencell
technology and as stand-alone nanobiosensors to cover a wide range of medical
applications. 

"In combination with the previously announced intention from the European Patent
Office to grant Lifecare a new patent for the improved Sencell sensing system
based on two chambers, and the extended cooperation with Bath University to
develop chemistry solutions for additional analytes to fully use the improved
osmotic-pressure based sensors, Lifecare is strategically well positioned to
exploit the potential of the Nano3DSensing technology", says Joacim Holter. "The
implication of this transaction is important for Lifecare. Not only does it
strengthen the ownership to our basic developments, but it also positions
Lifecare as a leading company within the field of nanobiosensor developments".  
 

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
24 June, 2021 at 08:30 CET.