LIFE: Lifecare achieves milestone

Bergen, Norway 02 June 2022

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

With this achievement Lifecare has reached the first of two major milestones for1H 2022, the prototype fabrication for clinical trials. While the team atLifecare NanoBioSensors will ensure manufacturing of sensors for the upcomingfirst-in-human pilot clinical study, Lifecare Laboratory will prepare the finalsteps for initiation of the study in June.

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

Lifecare CSO, Prof. Dr. Dr. Med. Andreas Pfützner, comments: "Reaching thismilestone with our new own infrastructure and scientists is a groundbreakingscience achievement for Lifecare! Our miniaturized NTR-sensors measure osmoticpressure with the same performance as the large piezo-resistive-sensors that wehave used in the previous animal studies. Basic research is herewithaccomplished, and we are now executing the last and final development stepsrequired for the first in-human trial within a very short-term future."

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

Lifecare CEO, Joacim Holter, comments: "We are very happy to announce theachievement of this critical milestone within the planned scope of time. Thecore team in the Lifecare Group has worked with dedication and focus, and it isimportant for us to deliver this result to our solid base of shareholders. Welook forward to the tasks ahead of us which we now will approach with renewedenergy and confidence based on this practical and scientific milestoneachievement"

This is Lifecare Lifecare is a Bergen-based technology company developing a miniaturizedimplantable long-term sensor for correct and continuous monitoring of bloodsugar in people with diabetes. The Company's patented technology also has thepotential for use in various biomarkers. Lifecare AS is listed on EuronextGrowth (LIFE).

Further informationJoacim Holter, CEO, Lifecare AS,, +47 40 05 90 40

This information is considered to be inside information pursuant to the EUMarket Abuse Regulation and is subject to the disclosure requirements pursuantto Section 5-12 the Norwegian Securities Trading Act. This stock exchangeannouncement was published by Kine Hereid, Investor Relations at Lifecare AS, on2 June 2022 at 09:00 CET