Lifecare – Sanofi Product Development Agreement Update

Reference is made to previous investor communication, i.e. September 23, 2021
and later. Lifecare is engaged with Sanofi in a Product Development Agreement
aimed at advancing the miniaturization of Lifecare's sensor technology for
integration into Lifecare's Sencell Continuous Glucose Monitoring system.

Under the terms of the agreement, Sanofi has committed to provide funding
contributions, supporting the further development of Lifecare's technology. In
return, Lifecare has granted Sanofi a right of first refusal to negotiate,
allowing them an exclusive opportunity to license and globally exploit the
technology.

Today, we are pleased to announce that Lifecare has submitted a phase-end report
in line with the agreement. This event triggers the release of development
funding from Sanofi, while the Product Development Agreement continues. This
phase-end report does not directly activate commercial rights as per agreement,
but it signifies Lifecare's commercial progress based on previously reported
technology milestone achievements.

Subject to the continued development progress, Lifecare expect to report
additional phase-end reports under the Product Development Agreement within the
next upcoming calendar quarters. 

******

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

******

For further information, please contact: 

Joacim Holter, CEO, Lifecare AS, joacim.holter@lifecare.no, +47 40 05 90 40

Asle Wingsternes, Head of Communications & Public Affairs,
asle.wingsternes@lifecare.no, +47 41 61 42 52

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 Joacim Holter, CEO at Lifecare AS, on 19 September
2023 at 08:00 CET.