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 patentedNano3DSense technology in the medical field. This implies a continuation ofLifecare's license covering the field of diabetes originally established in 2018- and in addition broadens the Lifecares license to cover the entire medicalfield. This is opening significant business opportunities for Lifecare todevelope additional nanobiosensors. The transaction also gives Lifecare theright to sublicense the technology to third parties based on pre-approvedconditions.
"The patented Nano3DSense technology is a key production method to miniaturizethe Sencell sensing system, which will be based on highly sensitivemicro-electronic mechanical systems and nano-cantilevers", says Lifecare CSOProf. Andreas Pfützner. The combination of Lifecares proprietary Sencell technology and the Cantimed-licensed Nanos3DSense technology positions Lifecare as an innovativenanobiosensor company.
Cantimed will form the new operational basis of Lifecare in Germany as thedevelopment of Sencell and other various nanobiosensors based on Lifecaresproprietary technologies evolves. The transaction has a value of EUR 650 000, of which EUR 280 000 will be paid incash on closing and the remaining EUR 370 000 will be paid within 24 monthssubject to and based on satisfaction of terms in the agreement."This transaction replaces Lifecares previous license at an originally agreedcost of total EUR 1,5 Million, limited to the field of diabetes", says JoacimHolter, Lifecare CEO. The ownership of Cantimed enables Lifecare to introduce its unique sensingsystem for glucose and many other analytes both in combination with the Sencelltechnology and as stand-alone nanobiosensors to cover a wide range of medicalapplications.
"In combination with the previously announced intention from the European PatentOffice to grant Lifecare a new patent for the improved Sencell sensing systembased on two chambers, and the extended cooperation with Bath University todevelop chemistry solutions for additional analytes to fully use the improvedosmotic-pressure based sensors, Lifecare is strategically well positioned toexploit the potential of the Nano3DSensing technology", says Joacim Holter. "Theimplication of this transaction is important for Lifecare. Not only does itstrengthen the ownership to our basic developments, but it also positionsLifecare as a leading company within the field of nanobiosensor developments".
This is LifecareLifecare 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, firstname.lastname@example.org, +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, on24 June, 2021 at 08:30 CET.