Reference is made to previous investor communication, i.e. September 23, 2021and later. Lifecare is engaged with Sanofi in a Product Development Agreementaimed at advancing the miniaturization of Lifecare's sensor technology forintegration into Lifecare's Sencell Continuous Glucose Monitoring system.
Under the terms of the agreement, Sanofi has committed to provide fundingcontributions, supporting the further development of Lifecare's technology. Inreturn, Lifecare has granted Sanofi a right of first refusal to negotiate,allowing them an exclusive opportunity to license and globally exploit thetechnology.
Today, we are pleased to announce that Lifecare has submitted a phase-end reportin line with the agreement. This event triggers the release of developmentfunding from Sanofi, while the Product Development Agreement continues. Thisphase-end report does not directly activate commercial rights as per agreement,but it signifies Lifecare's commercial progress based on previously reportedtechnology milestone achievements.
Subject to the continued development progress, Lifecare expect to reportadditional phase-end reports under the Product Development Agreement within thenext upcoming calendar quarters.
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.
For further information, please contact:
Joacim Holter, CEO, Lifecare AS, email@example.com, +47 40 05 90 40
Asle Wingsternes, Head of Communications & Public Affairs,firstname.lastname@example.org, +47 41 61 42 52
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 19 September2023 at 08:00 CET.