Q3 financial and operational update

Lifecare AS will present Q3 2022 financial and operational status on Tuesday 6 December.

  The webcast will be for all shareholders and interested parties at 13:00 – 14:00 CET. Lifecare CEO Joacim Holter will participate in the webcast. There will be a Q&A session following the presentation. The webcast will be available here: Link to Teams meeting The Q3 report and the presentation material will be published on https://newsweb.oslobors.no/ and in the Investors section of https://lifecare.no on the reporting day. You can post questions during the event or send them in advance to: post@lifecare.attme.dev    

Lifecare launching new company in UK

Lifecare has incorporated a new subsidiary, Lifecare Chemistry Ltd, located in Bath, UK. – This move gives us clear strategic advantages related to chemical research development and builds on the close and good collaboration Lifecare already has established with the University of Bath, says CEO Joacim Holter.

  Photo caption: Left to right: Jordan Gardiner, Postdoctoral Researcher from the Department of Chemistry; Barbora Tencer, Senior QMS Manager, Lifecare; Professor Tony James, Department of Chemistry; Joacim Holter, CEO, Lifecare; and Asle Wingsternes, Head of Communications & Public Affairs, Lifecare. Since 2020, Lifecare has worked together with researchers at the University of Bath to provide expertise for advancing the implantable glucose sensor. Professor Tony James and Dr. Jordan Gardiner at the Department of Chemistry are developing glucose specific chemical receptors which will replace the existing biobased receptors providing more reliability within the sensing sphere. Read more    

Improving the Sencell

In September, we could confirm that our Sencell sensor sucsessfully measur glucose in the human interstitial fluid when positioned in the subcutaneous tissue. - The ongoing human trials provide us with a good basis for further improvement of our sensor and its state-of-the-art technology in a challenging environment, states Lifecare's CSO, Professor Andreas Pfützner.

 

- It was no surprise that entering the human tissue with the sensor would provide new information in a development perspective. We have spent our time very wisely in recent months improving the sensor's functionality and longevity under the conditions in which it will operate, Pfützner says. He underlines that the sensor have already shown a sensitivity in line with that of widely used Continuous Glucose Monitoring systems, used as reference sensors in the study. The CSO also points out that the clinical study confirmes a technology functionality corresponding to our findings in previous pre-clinical and laboratory studies. - The ongoing clinical study is giving us important data and is a valuable opportunity to adjust the sensor signal readout. Looking ahead, the data and information we are collecting will give us advantages in the future human trials, states CSO Professor Andreas Pfützner.»    

New study with funding from public grant

The Norwegian Catapult Centre awarded a grant to Lifecare this summer in connection with a project relating to Sencell-sensor. - We applied for financial support for our research on encapsulation material and processing alternatives and got 75 per cent covered, states CEO Joacim Holter.

 

In the ongoing clinical study we use an unprotected sensor, in the meaning that the sensor is not meant to last for a longer period of time. In Q2 2022 Lifecare initiated a project to ensure protective encapsulation to ensue longer functional time for the sensor.

Lifecare has linked up with Norner in Porsgrunn, a leading industrial polymer Research & Development center for the polymer and plastics industry with over 40 years of experience. Norner is also a part of Norwegian Catapult Centre assisting companies developing ideas from concept to market launch. Norner's brand new facilities in Porsgrunn - The grant from the Norwegian Catapult Centre came just a few weeks after we had submitted the application in the summer. We have therefore been able to start the project quickly, says Holter. Norner has assisted Lifecare with identifying potential medical grade polymer materials and potential processes for encapsulation of the osmotic sensor cell for monitoring glucose level. A pre-study has been carried out on potential alternative materials/processes based on the factors such as temperature, chemical resistance and design. Norner has finally made recommendations on potential material, processing/conversion and testing. This provides a good basis for further testing at Lifecare's laboratory, but also a possible second step at the Norwegian Catapult Centre, Holter emphasizes.    

Lifecare in media

In connection with us establishing a subsidiary in Bath in the UK and entering into a closer collaboration with the University of Bath, a couple of articles were published.

  MedWatch, which follows companies and key people who work with pharmaceuticals, biotechnology, diagnostics and labs, medtech, and not least, e-health, published an article that says a little about Lifecare's venture in the UK and why we are establishing ourselves in Bath (read more). The University of Bath also published an article about the collaboration between them and Lifecare (read more).    

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