LIFE: Lifecare launches spin-off company with successful veterinarian

Lifecare, which is developing a long-lasting glucose sensor with the size of agrain of rice, is launching a new company called Lifecare Veterinary. Now man'sbest friend will also benefit from the same innovation. - Our main focus will still be the development of the sensor for people withdiabetes, increasing their quality of life. This is not, however,counterproductive to helping our pets in parallel to the ordinary course ofdevelopment resulting from the ground-breaking sensor development we do forhumans. New partnership Joining the team is the Bergen based veterinary and entrepreneur Jo Amundstad,who will become general manager of the newly established subsidiary LifecareVeterinary. He has built up local veterinary clinics as well as nationalbusinesses such as VetScan under Anicura, and has also had a key posision in theAnicura management. For over 20 years, he has driven development and innovationwithin the veterinary profession. During the last six years, he has also builtup his own business, VetLabs. During his many years in the veterinary profession, Jo Amundstad has observed anunmet need for animals suffering from diabetes. He contacted Lifecare when herecognized the potential for using Lifecare's sensor technology for animals. -We love our pets, so why not help them using the same technology, I thought.Animals also suffer from diabetes. The potential is great to also being able tocontribute to increased animal welfare, says Amundstad. Lifecare's sensor-venture addresses a patient population of over 530 millionpeople with diabetes. The spin-off investment in giving animals the same healthbenefit can provide enormous market potential for the company based in Bergen. - The veterinary market has long been an interesting business area for Lifecare,but we have deliberately focused on the main development of the sensor forhumans. We have now received repeated confirmation of its feasibility and mostrecently through studies in human tissue. Our development is so advanced that wecan start thinking about commercialization to a much greater extent. Thecombination is perfect now that we have the opportunity to take turns on such anexperienced and competent partner as Amundstad. It will then be a no-brainer forus to continue with a more targeted commercial race towards the veterinarymarket relatively quickly. Lifecare's technology A couple of weeks ago, Lifecare completed its first human clinical developmentstudy. - We are fully focused on developing the microsensor for people sufferingfrom diabetes, but we have communicated over time that we see potential in othermarkets. This also applies beyond the glucose segment. - In short, Lifecare is developing an advanced miniaturized sensor, based onnanotechnology and 3D printing. The sensor is the size of a grain of rice, whichwill be implanted in the subcutaneous tissue at the wrist and continuouslycommunicate with a smart device. The wireless sensor should function as ameasuring instrument that shows users how the glucose level develops.


Key numbers regarding pets affected by diabetes: There is not as extensive research on pets and the prevalence of diabetes.o Available figures indicate that every 7th per 1,000 cats and every 2nd per1,000 dogs have the diagnosis. Research shows that diabetes typically occurs indogs between the ages of 4 and 14.o Dogs most frequently develop type 1 diabetes and more rarely diabetes 2, whichusually is a milder variant.o 90 million dogs, 120 million cats. 1 million dogs have diabetes (1.2%)._________________________________________________________________________

Lifecare AS is a clinical stage medical sensor company developing technology forsensing and monitoring of various body analytes. Lifecare's main focus is tobring the next generation of Continuous Glucose Monitoring ("CGM") systems tomarket. Lifecare enables osmotic pressure as sensing principle, combined withthe ability to manipulate Nano-granular Tunnelling Resistive sensors ("NTR") onthe sensor body for read-out of pressure variations. LifecareŽs sensortechnology is referred to as "Sencell" and is suitable for identifying andmonitoring the occurrence of a wide range of analytes and molecules in the humanbody.


Contact: Joacim Holter, CEO, tel. +47 40059050, epost:

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 Joacim Holter, CEO at Lifecare AS, on 30 Mai 2023at 08:20 CET