Bergen, Norway, October 26th, 2023: Lifecare AS (LIFE) (the “Company”), a clinical stage medical sensor company developing the next generation Continuous Glucose Monitor (CGM), can today announce the finalization of a new development phase under the Company’s Product Development Agreement with Sanofi.
Reference is made to previous investor communication and Lifecare Stock Exchange Notification September 19th, 2023. 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
Following the finalization if the development phase, Lifecare will today submit a phase end report to Sanofi. This event triggers the release of funding
contribution from Sanofi, while the Product Development Agreement continues in accordance with the development progress as indicated in the Stock Exchange
Notification released September 19th, 2023. 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 the next phase-end report under the Product Development Agreement in Q1 2023.
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. Lifecare’s 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
For further information, please contact:
Joacim Holter, CEO, Lifecare AS, firstname.lastname@example.org, +47 40 05 90 40
Asle Wingsternes, Head of Communications & Public Affairs,
email@example.com, +47 41 61 42 52
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act.