Hofseth Biocare (HBC.OL)

[TekBot]

Hofseth Biocare ASA: HBC and DKSH announce a Pan-Asian exclusive collaboration for distribution of HBC branded products including across China, India, Japan & Korea

Ålesund, Norway, 8(th) December 2020

Hofseth BioCare (“HBC”) is delighted to announce it has signed a comprehensive
…

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exclusive distribution contract with DKSH for HBC’s marine branded products. The
agreement covers ten territories across Asia including Thailand, Indonesia,
Philippines, Malaysia, Vietnam, China, Japan, Korea, Taiwan and India. DKSH will
also have the right to sell “white labelled” finished products across the
territories on a non-exclusive basis.

The distribution contract with DKSH follows soon after the granting of a unique
set of label claims for ProGo(®) in North America, centred around the prevention
of iron deficiency anaemia. Bioactive Peptides™ are in the unique position of
being the first and only non-iron containing product in the US market to
maintain healthy levels of ferritin and haemoglobin. It is also part of a
strategy to empower global leading distributors to lever the HBC science and
unique ingredients to penetrate the business to business segment on a worldwide
basis.

“We believe there is a vast opportunity for our products in Asia given that the
regional palate is typically very predisposed to eating fish and fish-derived
products. Countries such as Malaysia and Indonesia have amongst the highest
consumption of fish per capita in the world. It is no co-incidence that these
countries have very low levels of heart disease and asthma, where our products
unsurprisingly show significant health benefits too. Furthermore, our Bioactive
peptides will be a better alternative for millions of people who struggle with
negative side effects or poor effect of traditional iron supplementation,” says
Crawford Currie, Head of Medical R&D, in Hofseth BioCare.

This distribution agreement now provides HBC with a truly global access for the
delivery of its nutritional and nutraceutical grade products. DKSH’s activity is
the market expansion, marketing and distribution of human & pharma grade raw
materials through extensive local networks, market intelligence and formulation
expertise. DKSH has the know-how to create unique recipes locally in a truly
unparalleled way such as their UHT pilot plant which can leverage product
development to benefit of HBC and their customer base.

The products included in the distribution agreement are:

a. ProGo(®) Nutrition - Salmon Protein Hydrolysate; a soluble peptide powder
derived from the hydrolysis of the protein fraction of salmon off-cuts. The
powder contains more than 97% hydrolysed protein, suitable for sports, endurance
and recovery nutrition and can be used in powder formulations, bars, drinks and
tablets.

b. CollaGo(®) Collagen Peptides: A soluble Type I & III Collagen Peptide powder
to help support healthy skin, muscles and arteries. Recent studies have shown
its benefit for beauty enhancement including hair, skin and nails as well
increasing energy and wellbeing.

c. CalGo(®) Collagenic Hydroxyapatite: a collagen calcium powder containing 24%
Type II Collagen, 19% calcium hydroxyapatite and 9% elemental Phosphorus to
support bone and joint health. It can be used as tablets, powders and other
formats.

d. OmeGo(®) Unrefined Salmon Oil containing all the elements present in whole
salmon: Omega 3 (EPA, DHA and DPA), Omegas 5, 6, 7, 9 & 11, natural antioxidants
and no added antioxidants with 4 years shelf life. It provides broad antioxidant
and anti- inflammatory effects and is beneficial for maintaining healthy
cholesterol and cardiovascular function. HBC has identified a non-Omega fraction
in the oil that attenuates eosinophil effector function. Preclinical work in
asthma is ongoing. The oil can be formulated in soft gel caps and other formats.

• “supports healthy ferritin and haemoglobin levels”, “helps maintain iron-rich
  blood”, “promotes energy utilization”, “supports red blood cell production”,
  “supports gastrointestinal and immune system health”, “assists in iron
  absorption from your daily diet” **“helps maintain healthy levels of ferritin
  and haemoglobin”, “helps maintain healthy levels of blood components required
  for oxygen transport”, “provides antioxidants for the maintenance of good
  health” and “helps promote healthy skin”

The HBC product range is non-GMO, antibiotic-free with steam the only by-product
of the manufacturing process.

Thomas Sul, Co-Head Business Unit Performance Materials and Member of DKSH’s
Executive Committee comments: “The new partnership with HBC is a great match.
DKSH gets access to the innovative, sustainable and science-based product range
of Hofseth BioCare and they in turn access to our established customer base, our
network of innovation centers and our in-depth industry knowledge. We are
looking forward to a successful partnership with HBC.”

“This is tremendous agreement for HBC and for the long-term growth of our
business as we enter a partnership with one world’s longest established
nutraceutical and pharmaceutical distributors across Asia for ingredients and
finished products. We take confidence from the fact that multiple DKSH business
units across Asia see strong appetite for our unique marine derived offering.
The Asian market is a natural fit us given their natural enjoyment for fish.
Also, yet again this collaboration pays testament to the investments in R&D and
science the company has made in the last 15 years in that we have “something
different” to offer consumers. We are now represented globally across all
continents for B2B distribution. The recently approved health claims for ProGo
have grabbed the attention of leading players very quickly. DKSH has the
infrastructure and know-how to passport those claims into each country in the
region efficiently. As the most dominant player in Asia, we are privileged to
work with them also in their geographic area of strength,” says CEO Roger
Hofseth at Hofseth BioCare ASA.

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and
optimal utilization of natural resources. Through an innovative hydrolysis
technology, HBC can preserve the quality of lipids, proteins and collagen-
calcium from fresh salmon off-cuts. Hofseth BioCare’s headquarters are in
Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and
Tokyo.

HBC is listed on Euronext Expand Oslo with ticker “HBC”. More information about
Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

About DKSH:

DKSH is the leading Market Expansion Services provider with a focus on Asia. The
Group helps companies to grow across the Business Units Healthcare, Consumer
Goods, Performance Materials and Technology. The service portfolio covers
sourcing, market insights, marketing and sales, eCommerce, distribution and
logistics as well as after-sales services. Publicly listed on the SIX Swiss
Exchange, the Group operates in 36 markets with 33,350 specialists, generating
net sales of CHF 11.6 billion in 2019. With its Swiss heritage, DKSH has been
deeply rooted in Asia Pacific since 1865. The DKSH Business Unit Performance
Materials distributes specialty chemicals and ingredients for food,
pharmaceutical, personal care and various industrial applications. With 46
innovation centers and regulatory support worldwide, we create cutting-edge
formulations that comply with local regulations. With around 1,100 specialists,
the Business Unit generated net sales of CHF 1.0 billion in 2019.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: APPROVAL AND PUBLICATION OF PROSPECTUS SUPPLEMENT FOLLOWING AGREEMENT WITH DKSH

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN
OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE HONG KONG SPECIAL
ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER
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JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reference is made to the stock exchange announcements from Hofseth BioCare ASA
(the “Company”) on 4 December 2020 regarding approval and publication of the
Company’s prospectus dated 3 December 2020 (the “Prospectus”) and on 7 December
2020 regarding the commencement of the subscription period in a subsequent
offering raising gross proceeds of up to approximately NOK 40 million (the
“Subsequent Offering”).

On 8 December 2020, e.g. following publication of the Prospectus, the Company
published that it had entered into a distribution agreement with DKSH. The
Norwegian Financial Supervisory Authority has today approved a supplement to the
Prospectus (the “Prospectus Supplement”), which implements information about the
distribution agreement with DKSH into the Prospectus. The information contained
in the Prospectus Supplement shall be considered as an integral part of, and is
to be read together with, the Prospectus.

The Prospectus Supplement is published today and will, subject to applicable
local securities laws, be available at www.paretosec.com/updates/transactions.
The Prospectus Supplement will also be available at the offices of the Company.

Pareto Securities AS acts as manager in the Subsequent Offering. Advokatfirmaet
CLP DA acts as Norwegian legal counsel to Hofseth BioCare ASA.

For further information, please contact:

Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: [email protected]

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and
optimal utilization of natural resources. Through an innovative hydrolysis
technology, HBC can preserve the quality of lipids, proteins and collagen-
calcium from fresh salmon off-cuts. Hofseth BioCare’s headquarters are in
Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and
Tokyo.
HBC is listed on Euronext Expand Oslo with ticker “HBC”. More information about
Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Oslo Børs godkjenner Hofseth BioCare ASA for opptak til handel på Oslo Børs

Oslo Børs vedtok å ta aksjene i Hofseth BioCare ASA opp til handel på Oslo Børs ved overføring av aksjene tatt opp til handel på Euronext Expand.

Det gis dispensasjon fra kravet om en minste markedsverdi på kr 10 per aksje, jf. Regelbok II for Oslo Børs punkt 3.1.4.5. Dispensasjonen er gitt i samsvar med praksis fordi aksjene som tas opp til handel overføres fra Euronext Expand til Oslo Børs.
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Det gir videre dispensasjon fra kravet om at offentlige aksjetilbud skal være avsluttet innen første dag for opptak til handel, jf. Regelbok II pkt. 3.1.5.1. Dispensasjon er gitt fordi opptaket til handel gjelder overføring fra Euronext Expand og det offentlige aksjetilbudet ikke har betydning for oppfyllelsen av øvrige opptaksvilkår.

Det forutsettes at selskapet før første dag for opptak til handel på Oslo Børs oppfyller øvrige opptaksvilkår.

Børsdirektøren gis fullmakt til å fastsette første handelsdag på Oslo Børs, senest 8. februar 2021. Administrasjonen gis fullmakt til å påse at alle opptakskrav er oppfylt før første dag for handel.

Selskapsinformasjon:

Navn: Hofseth BioCare ASA
Ticker: HBC
ISIN: NO0010598683

Kilde

[TekBot]

Hofseth Biocare ASA: TRANSFER OF LISTING FROM EURONEXT EXPAND TO OSLO BØRS

As announced on 9 December 2020, the Oslo Stock Exchange has approved the
application from Hofseth BioCare ASA (the “Company”) for transfer of its listing
from Euronext Expand (previously Oslo Axess) to Oslo Børs.
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The first day of trading of the Company’s shares on Oslo Børs will be on 14
December 2020. Consequently, the last day of trading of the Company’s shares on
Euronext Expand will be tomorrow, 11 December 2020. The ticker and ISIN of the
Company’s shares will remain unchanged.

The Company has prepared a prospectus dated 3 December 2020 (the “Prospectus”)
in connection with, inter alia, the transfer of listing, and such prospectus was
published on 4 December 2020. The Prospectus is, subject to applicable
securities laws, available at www.paretosec.com/updates/transactions. The
Prospectus is also available at the offices of the Company.

For further information, please contact:
Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: [email protected]

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and
optimal utilization of natural resources. Through an innovative hydrolysis
technology, HBC can preserve the quality of lipids, proteins and collagen-
calcium from fresh salmon off-cuts. Hofseth BioCare’s headquarters are in
Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and
Tokyo.

HBC is listed on Euronext Expand Oslo with ticker “HBC”. More information about
Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: HBC and Tenet Partners initiate a long-term collaboration to build a global brand and launch HBC own branded consumer health products

HBC has today started a long-term collaboration with world leading brand
innovation and marketing consultancy company, Tenet Partners, based in New York,
USA. Their goal is to build a consumer brand for HBC’s line of salmon-based
…

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products. Tenet Partners have an impressive and long track record in building
powerful brands with a clear vision that motivate connections with consumers.
They have experience across a multitude of sectors with particular focus on
healthcare and consumer product sectors, making them an excellent partner for
HBC. Within healthcare, Tenet’s clients include Amgen, J&J, Pfizer, Catalent and
NPS Pharma and in consumer products they have worked with Colgate-Palmolive,
Kraft, PepsiCo and even WellPet, a natural pet food brands owner.

The collaboration with Tenet will enable HBC to accelerate the development of
its own brand and marketing strategy for its Consumer Health division. The
Hofseth Group already has broad and well-established retail sales channels
through which it will continue to place products, with existing access into over
40,000 retail outlets worldwide. Tenet’s approach to market analytics, branding
and design will enable HBC to more rapidly utilize and monetize those sales
channels as well as create its own brand for its unique, sustainable marine-
derived products to be sold into segments such as OTC pharmacies, sports
nutrition and cosmetics amongst others. Tenet offers e-commerce expertise,
including engagement, technology and customer experience work, which will
further help build HBC’s commercial reach for its B2C offering. Their breadth of
work will be comprehensive including: new name development, developing a
messaging matrix, new packaging concepts, new logo/identity and redesigning
HBC’s own-product website.

As part of the transaction, Tenet Partners will also take more than half of
their fees in the form of share options in HBC at par value that will vest and
become exercisable upon the board of directors’ approval of Tenet’s delivery
under the agreement’s main phase, tentatively by May/June 2021. Shares issued to
Tenet following vesting and exercise of the options will be subject to a lock-up
of 24 months as well, and Tenet will continue to deliver services to HBC during
the lock-up period.

Tenet CEO Hampton Bridwell underscored that a close alignment of culture and
philosophy is key for success. “Hosfeth is a true innovator driven by vision,
looking to push the boundaries. This venture is a great match for our brand-
innovation approach and experience in building billion-dollar companies and
product lines for B2B and consumer channels. Tenet’s proven approach is built on
design-thinking and data science to yield consumer insights and an ability to
scale brands through systems design” he said.

“Our relationship reflects this non-traditional mindset,” Bridwell noted.
“Rather than a straight fee, we’re entering into a true equity partnership. That
means we have ‘skin in the game:’ Our success will be directly tied to the
results we achieve together. The fact that Tenet is employee-owned made this
possible. Our 100% Employee Owned culture gives us financial flexibility and a
venture-growth mindset that we believe is perfect to help HBC build a tremendous
consumer business worldwide.”

“We see this as a wonderful opportunity to align with a company that shares our
values at a very deep level,” Bridwell noted. “Hosfeth is and always has been
focused on sustainability and improving life. This complements Tenet’s ongoing
commitment to positive societal and human impact, through our work with
organizations such as Sustainability Accounting Standards Board and Smithsonian
Environmental Research Center.”

Roger Hofseth says: “This multi-year collaboration with Tenet Partners is yet
another example of how we are taking decisive steps forward in building our
foundation for scalable sales growth. Building a brand needs to be done with a
long-term, professional approach with the very best in the business. We have
every confidence in Tenet Partners’ future success given their proven track
record and enthusiasm towards the scale of the opportunity at hand. A
recognizable brand will help drive sales purchased through the internet or
directly through pharmacy, drug and retail stores. It is very important to
“consume-ify” our natural ingredients in a way to connect with consumers all
over the world. A successful brand will give us the best possible chance of
success in the higher margin, direct to consumer vertical. We are delighted that
Tenet will not only be our brand builder but also a meaningful investor in our
business ensuring a perfect alignment of interests between us.”

This collaboration dovetails with the recent announcement of the hiring of
senior sales executives from GSK and JnJ with Andy Gill and Will Urban Smith
joining to expand HBC’s Consumer Health division. Their experience and knowledge
from helping develop some of the world’s most recognizable consumer brands from
Voltaren to Nicorette, will play a crucial role in the product development phase
with Tenet and ensure the project is a success.

For further information, please contact:
James Berger, Head of Investor Relations & Strategy at Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: [email protected]

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and
optimal utilization of natural resources. Through an innovative hydrolysis
technology, HBC can preserve the quality of lipids, proteins and collagen-
calcium from fresh salmon off-cuts. Hofseth BioCare’s headquarters are in
Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and
Tokyo.
HBC is listed on Euronext Expand Oslo with ticker “HBC”. More information about
Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: Result of the Subsequent Offering

Reference is made to the stock exchange notice from Hofseth BioCare ASA (the
“Company” or “HBC”) published on 7 December 2020 regarding commencement of the
subscription period in a subsequent offering with gross proceeds of up to NOK
…

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40 million directed towards eligible shareholders of the Company (the
“Subsequent Offering”). The Subsequent Offering consisted of an offer of minimum
1 and maximum 4,938,271 new shares (each an “Offer Share”) in the Company.

The subscription period for the Subsequent Offering ended on 18 December 2020 at
16:30 hours (CET). The subscription price in the Subsequent Offering was NOK
8.10 per Offer Share.
At the end of the subscription period, the Company and the Manager has received
eligible subscriptions for a total of 2,930,671 Offer Shares out of 4,938,271
Offer Shares available.

The Board of Directors of HBC has approved the final allocation of Offer Shares
based on the allocation criteria resolved by the Company’s general meeting on
11 November 2020 and has allocated 2,930,671 Offer Shares to the subscribers. A
total of 1,271,239 Offer Shares have been allocated on the basis of exercised
subscription rights and 1,659,432 Offer Shares have been allocated to
subscribers on the basis of oversubscription. The Subsequent Offering raised
gross proceeds of approx. NOK 23.7 million.

Notifications of allocation in the Subsequent Offering are expected to be issued
on 21 December 2020. The due date for payment of allocated Offer Shares is on
22 December 2020. Delivery of the Offer Shares is expected to take place on or
about 30 December 2020, through the facilities of VPS. Trading in the Offer
Shares on Oslo Børs is expected to commence on or about 30 December 2020.

Pareto Securities AS has acted as manager for the Subsequent Offering.

For further information, please contact:

Jon Olav Ødegård, CFO at Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: [email protected]

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and
optimal utilization of natural resources. Through an innovative hydrolysis
technology, HBC can preserve the quality of lipids, proteins and collagen-
calcium from fresh salmon off-cuts. Hofseth BioCare’s headquarters are in
Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and
Tokyo. HBC is listed on Oslo Børs with ticker “HBC”. More information about
Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: MANDATORY NOTIFICATION OF TRADE

RH Industri AS, a company controlled by Roger Hofseth, has today 29 December
2020 bought 60,002 shares at an average price of 8.416 per share.

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Roger Hofseth is CEO and primary insider in Hofseth BioCare ASA. After the
transaction, Roger Hofseth AS owns 51,550,000 shares corresponding to 14.53 % of
the outstanding shares in Hofseth BioCare ASA.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: Disclosure of large shareholdings in Hofseth BioCare ASA

Hofseth International AS (“HI”), has today transferred all shares from four
wholly owned subsidiaries, Hofseth AS, Seafood Farmers of Norway AS, Hofseth
Aalesund AS and Hofseth Logistics AS, to HI, and hence surpassed a threshold for
…

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disclosure of large shareholdings. The transfer price is NOK 9.20 per share,
equal to the closing price on 29 December 2020.

After the transaction, HI’s total shareholding is 58,881,778 shares, equal to
16.59 % of the total outstanding shares and voting rights in Hofseth BioCare
ASA.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: [email protected]

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and
optimal utilization of natural resources. Through an innovative hydrolysis
technology, HBC can preserve the quality of lipids, proteins and collagen-
calcium from fresh salmon off-cuts. Hofseth BioCare’s headquarters are in
Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and
Tokyo. HBC is listed on Oslo Børs with ticker “HBC”. More information about
Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: NEW SHARE CAPITAL INCREASE REGISTERED

Reference is made to the stock exchange announcement on 21 December 2020
regarding the result of a subsequent offering (the “Subsequent Offering”) in
Hofseth BioCare ASA.
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The share capital increase pertaining to the Subsequent Offering has now been
registered with the Norwegian Register of Business Enterprises. The new
registered share capital of the Company is NOK 3,578,310.3 divided by
357,831,030 shares, each with a par value of NOK 0.01.

Delivery of the offer shares is expected to take place on or about 30 December
2020, through the facilities of VPS. Trading in the Offer Shares on Oslo Børs is
expected to commence on or about 30 December 2020.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: [email protected]

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability, traceability and
optimal utilization of natural resources. Through an innovative hydrolysis
technology, HBC can preserve the quality of lipids, proteins and collagen-
calcium from fresh salmon off-cuts. Hofseth BioCare’s headquarters are in
Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and
Tokyo. HBC is listed on Oslo Børs with ticker “HBC”. More information about
Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: FOURTH QUARTER 2020 FINANCIAL REPORT

HBC had gross operating revenues of NOK 69.3m (67.8m) in 2020 and operating
revenues of NOK 23.1m (11.1m) in the fourth quarter. Cost of Goods Sold (CoGS)
amounted to NOK 16.7m (16.6m) in the quarter and NOK 39.5m for the full year
…

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(59.6m). Operational profit (EBITDA) for the fourth quarter 2020 was NOK -16.7m
(-23.2m) and for the full year NOK -65.4m (-52.1m). In the full year 2020,
Salaries increased by NOK 13.4m, compared to the same period 2019 due to new
employees in sales and operations. HBC had a total holding of cash and cash
equivalents of NOK 172.8m by the end of the period, compared to NOK 84.2m by the
end of the fourth quarter 2019. Including credit facilities, HBC had NOK 209.8m
in free liquidity by the end of the fourth quarter.

Highlights:

• Successful completion of a private placement of NOK 200m by issuance of
  approx. 24.69m new shares into existing and new institutional shareholders
  and HBC listed on Oslo Børs on December 14th.
• Received approval from Health Canada on ProGo® and CollaGo® for Qualified
  Health Claims focused on maintaining healthy levels of ferritin and
  hemoglobin and the blood components required for oxygen transport.
• ProGo®’s bioactive peptides’ unique label of six structure function claims
  to support healthy iron levels permitted to be used in the US by the FDA. s
• Signed a Pan-Asian exclusive collaboration with DKSH for distribution of HBC
  branded ingredients including across China, India, Japan & Korea, and an
  exclusive distribution agreement with IMCD Performance material division for
  16 territories globally including the USA & Canada.
• Boosts Sales and Marketing talent in its Consumer Health division by hiring
  ex-Novartis and ex-GSK senior executives Andy Gill and ex-Johnson & Johnson
  Senior Commercial leader Will Urban-Smith.
• HBC and Tenet Partners initiate a long-term collaboration to build a global
  brand and launch HBC own branded consumer health products.

R&D focus areas in Q4:

i. Identification of the bioactive peptides in SPH that up-regulate the
expression of the FTH1 gene. The FTH1 gene encodes the heavy chain of
ferritin, the storage protein for iron, and this increase has been shown
to increase haemoglobin and correct iron deficiency anaemia (IDA). Our
ongoing research has led to the identification of 7 closely related
peptides which are being individually sequenced to enable the filing of a
new patent application and subsequently the planned application for New
Chemical Entity (NCE) status.
ii. Identification of non-Omega fatty acid components within OmeGo that
modulate eosinophil effector function. These minor elements within the oil
could lead to a novel oral treatment for eosinophilic asthma and other
eosinophilic conditions.
iii. An accelerated p2/3 trial in Covid-19 targeting patients with mild to
moderate SARS-CoV-2 infections is ongoing in Canada and new sites in
Brazil, Mexico and Hungary are expected to begin recruitment during this
quarter.
iv. Ongoing preclinical trial work in different models of gastrointestinal
injury / inflammation are progressing. These include various invitro
cellular systems simulating the pathology of necrotizing enterocolitis
(NEC) and inflammatory bowel disease (IBD).
v. The completion of an invitro assay for sarcopenia treatment has shown that
peptides within SPH have myostatin inhibitory activity. Myostatin is a
well-recognised therapeutic target for sarcopenia. As such, the peptides
within SPH could have the potential to help reduce the loss of muscle mass
associated with sarcopenia.

In sales and marketing, Q4 was an extremely busy and successful quarter for HBC
as it began its journey to build a new Consumer Healthcare sales division with
senior executives from global consumer health care companies. Furthermore, it
signed up a world class network of partners with which to grow its presence the
whole of Asia and the Americas.

For our B2C strategy, a major two-and-a-half-year collaboration with Tenet
Partners to build a brand for finished products was also agreed upon. This will
enable HBC to go direct to the consumer with a new identity and connection with
consumers later this year.

“At the end of 2020 we completed a successful capital increase and as of
December 2020, our shares now trade on the main board of Oslo Børs. As such, we
have a solid financial platform from which we expect to grow revenues, develop
new products and continue to excel in research and development, to support the
long-term growth of HBC”, CEO Roger Hofseth comments.

For further information, please contact:
James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: [email protected]

Jon Olav Ødegård, Chief Financial Officer of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: [email protected]

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability and optimal
utilization of natural resources. Through an innovative hydrolysis technology,
HBC can preserve the quality of lipids, proteins and calcium from fresh salmon
off-cuts.

Hofseth BioCare’s headquarters are in Ålesund, Norway with branches in Oslo,
London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: PRIMARY INSIDER NOTIFICATION

Christoph Baldegger, primary insider and member of the Board of Directors in
Hofseth BioCare ASA (“HBC”), has today purchased 70,000 shares in HBC at an
average price of NOK 9.294 per share.
…

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As a result of the transaction, Mr. Baldegger holds 650,000 shares in HBC, equal
to 0.18 % of the outstanding shares.

This information is subject of the disclosure requirements pursuant to sections
4-2 and 5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

Hofseth Biocare ASA: HBC Annual Report 2020 and ESG Report

Today, 19 March 2021, the Board of Directors approved the Annual Report
for 2020.

…

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Please find the Annual Report 2020 in Norwegian and English, including the ESG
Report (Chapter 5) attached.

For further information, please contact:

Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 93632966
E-mail: [email protected] (mailto:[email protected])

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company developing high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, Medical Food to help treat age-
related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID-19.

The company is founded on the core values of sustainability and optimal
utilization of natural resources. Through an innovative hydrolysis technology,
HBC can preserve the quality of lipids, proteins and calcium from fresh salmon
heads and backbones.

Hofseth BioCare’s headquarters are in Ålesund, Norway with branches in Oslo,
London, Zürich, Chicago, Palo Alto and Tokyo. HBC is listed on Oslo Stock
Exchange with ticker “HBC”. More information about Hofseth BioCare at
hofsethbiocare.com and facebook.com/hofsethbiocare.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

Hofseth Biocare ASA: NESTLE-OWNED GARDEN OF LIFE TO LAUNCH NEW PRODUCTS WITH PROGO® IN US RETAIL & ONLINE MARKETS

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

…

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This stock exchange notice follows previous references made in the Norwegian
stock exchange notices issued on June 24(th) 2019 regarding the Letter of Intent
with Garden of Life® and the last quarterly report from HBC, which was published
on February 5(th) 2021.

European Biotech and consumer health company HBC has received the first Salmon
Protein purchase orders from US-based organic health supplement firm Garden of
Life. The Nestle owned company intends to launch new ProGo® consumer protein
products which will be available online and for the North American markets in Q3
2021.

ProGo® is an all-natural, non-GMO and additive-free salmon protein hydrolysate.
It is also the first and only non-iron containing product in the US market to
“support healthy levels of ferritin and hemoglobin” for the prevention of iron
deficiency anemia, one of six structure function claims acknowledged by the FDA
last year and one of the four approved Qualified Health Claims by Health Canada.

Roger Hofseth, Chief Executive of Hofseth Biocare ASA, said, “to be acknowledged
by one of the best and premium consumer product brands in North America is a
wonderful endorsement for HBC. HBC has made major investments in both
manufacturing and scientific research and development in past few years and it
is good to see that recognised by such a high-profile brand and have our
sustainability story reach a new consumer audience.”

Garden of Life’s VP R&D and Regulatory, Jeff Brams, says “After a temporary
Covid-19 delay in 2020, we are moving swiftly ahead with the long-awaited salmon
protein launch. Our collaboration with Hofseth Biocare has enabled us to create
a line of novel proteins that will be on trend, meet consumer’s taste
preferences, deliver high quality nutrition, and fulfil our brand promise of
sustainability.”

As part of their launch, GOL will also be co-branding the HBC ProGo® logo on
their packaging, to ensure consumer traceability and full transparency of the
supply chain.

Furthermore, HBC’s raw material was granted approval by the Non-GMO Project to
supply Garden of Life, making the product even more unique in the marketplace.

For further information, please contact:
James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: [email protected] (mailto:[email protected])

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability and optimal
utilization of natural resources. Through an innovative hydrolysis technology,
HBC can preserve the quality of lipids, proteins and calcium from fresh salmon
off-cuts.

Hofseth BioCare’s headquarters are in Ålesund, Norway with branches in Oslo,
London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth BioCare ASA: NOTICE OF ANNUAL GENERAL MEETING 2021

The Annual General Meeting of Hofseth BioCare ASA will be held at the company’s
premises at Havnegata 11, 6005 Ålesund, on 23 April 2021 at 13:00 CET.

…

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All shareholders are encouraged to submit a voting proxy to the chairman of the
board in lieu of attending the Annual General Meeting in person, due to the
ongoing situation with spread of Covid-19. The general meeting will be conducted
as briefly as possible, and representation of the Company’s Board of Directors
and management will be kept to a minimum.

The notice of the Annual General Meeting was sent to the shareholders on 31
March 2021, and unfortunately this stock exchange notice was not sent
concurrently. Please find the notice to the Annual General Meeting attached.

For further information, please contact:

Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 93632966
E-mail: [email protected] (mailto:[email protected])

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability and optimal
utilization of natural resources. Through an innovative hydrolysis technology,
HBC can preserve the quality of lipids, proteins and calcium from fresh salmon
off-cuts.

Hofseth BioCare’s headquarters are in Ålesund, Norway with branches in Oslo,
London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: COMPLETED ANNUAL GENERAL MEETING

The AGM in Hofseth BioCare ASA was held in Havnegata 11, Ålesund today on Friday
23 April 2021. All the matters were decided according to the proposals in the
notice. Please find the minutes from the AGM attached.
…

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For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: [email protected]

About Hofseth BioCare ASA
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability and optimal
utilization of natural resources. Through an innovative hydrolysis technology,
HBC can preserve the quality of lipids, proteins and calcium from fresh salmon
off-cuts.

Hofseth BioCare’s headquarters are in Ålesund, Norway with branches in Oslo,
London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: GLOBAL INNOVATION PARTNERSHIP WITH CATALENT TO DEVELOP DELAYED-RELEASE FORMULATION OF OMEGO FISH OIL

ÅLESUND, NORWAY - May 12, 2021 - Hofseth BioCare ASA (HBC), a Norwegian biotech
company that develops high-value ingredients and finished products, today
announced that it has begun a global innovation partnership with Catalent, the
…

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leading global provider of advanced delivery technologies, development, and
manufacturing solutions for drugs, biologics, cell and gene therapies, and
consumer health products, to develop a delayed-release formulation of HBC’s
OmeGo® fish oil.

The partnership will see Catalent use its proprietary OptiGel® DR technology to
encapsulate OmeGo®, HBC’s unique fish oil derived from sustainable, traceable,
and fresh Norwegian Atlantic salmon. OptiGel DR technology enables an enteric
release profile for softgel capsules without the need for an additional external
coating, thereby employing a one-step manufacturing process, which avoids the
heat and drying of the coating process that may otherwise degrade the fish oil.

HBC is currently conducting studies to assess the potential role of OmeGo® fish
oil in preventing disease progression and helping to reduce inflammation,
including in patients experiencing inflammation caused by COVID-19. Results are
expected over the coming months and will provide wide-ranging insights on the
potential of OmeGo® fish oil to help the body resolve inflammation driven by a
viral infection.

“Our research into the health benefits of our unique oil has come a long way in
the last 18 months, and we look forward to collaborating with Catalent, and hope
to develop the partnership further, to leverage its innovative oral technologies
to ensure the most efficacious delivery system,” commented Dr. Bomi Framroze,
Chief Scientific Officer of HBC. “OptiGel DR will enhance the OmeGo franchise,
bringing advanced delivery technology as well as raising its profile amongst
global leading healthcare companies.”

“This partnership is an exciting opportunity to combine the features of a high-
quality ingredient with our new OptiGel DR capsule technology to create a
product that delivers optimal benefits and experience for consumers,” commented
Dr. Aris Gennadios, President, Softgel and Oral Technologies, Catalent. “Our
rich history and innovation in softgel technology has allowed us to create a
dosage form that delivers ingredients and formulations with an enteric release
profile in robust capsules, providing product performance to meet consumers’
expectations.”

OptiGel DR capsule technology was launched by Catalent in 2020 and offers
innovators an opportunity to formulate products in a patient-preferred softgel
dosage form with a delayed-release profile that offers many advantages,
including protecting active ingredients that may be degraded by acid in the
stomach and releasing those active ingredients directly in the intestines where
they are absorbed, potentially enhancing bioavailability. The technology also
preserves the clarity of the capsule, which is important for HBC to showcase the
distinctive colour of OmeGo® fish oil, as well as retaining the characteristic
ease of swallowing that consumers associate and prefer with softgel dose forms.

For more information on OptiGel DR, visit
https://consumerhealth.catalent.com/nutritional-supplements/dose-forms/optigel-
dr-softgel-technology

For further information, please contact:
James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: [email protected] (mailto:[email protected])

About Catalent
Catalent is the leading global provider of advanced delivery technologies,
development, and manufacturing solutions for drugs, biologics, cell and gene
therapies, and consumer health products. With over 85 years serving the
industry, Catalent has proven expertise in bringing more customer products to
market faster, enhancing product performance and ensuring reliable global
clinical and commercial product supply. Catalent employs around 15,000 people,
including approximately 2,400 scientists and technicians, at more than 45
facilities, and in fiscal year 2020 generated over $3 billion in annual revenue.
Catalent is headquartered in Somerset, New Jersey. For more information, visit
www.catalent.com (http://www.catalent.com)

More products. Better treatments. Reliably supplied.™

About Hofseth BioCare ASA
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smokers lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability and optimal
utilization of natural resources. Through an innovative hydrolysis technology,
HBC can preserve the quality of lipids, proteins and calcium from fresh salmon
off-cuts.

Hofseth BioCare’s headquarters are in Ålesund, Norway with branches in Oslo,
London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: FIRST QUARTER 2021 FINANCIAL REPORT

HBC had net sales revenues of NOK 16.8m (10.4m) in the first quarter and gross
operating revenues of NOK 16.8m (18.5m). Gross revenues in first quarter 2020
included NOK 8.2m in insurance claim settlements. Cost of Goods Sold (CoGS)
…

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amounted to NOK 8.4m (6.2m) in the quarter. Operational profit (EBITDA) for the
first quarter 2021 was NOK -18.8m (-10.2m). Gross margin was 50 % in the first
quarter compared to 39 % in the first quarter 2020, adjusted for insurance claim
pay out of NOK 8.2m in March 2020. Net financial items in the first quarter were
NOK -1.8m (-1.9m). Loss before tax was NOK 26.8m in the quarter, compared to a
loss of NOK 17.9m during first quarter in 2020. Cash and cash equivalents
decreased by NOK 34.2m during the quarter, leaving total holding of cash and
cash equivalents at NOK 138.5m by the end of the period, compared to NOK 68.0m
by the end of the first quarter 2020. Including credit facilities, HBC had NOK
175.5m in free liquidity by the end of the first quarter.

Highlights:

• HBC received the first Salmon Protein purchase orders from US-based organic
  health supplement firm Garden of Life. The Nestlé-owned company intends to
  launch new ProGo® consumer protein products which will be available online and
  for the North American markets in Q3 2021.

• Development of a pharmaceutical lead program around eosinophilia inflammation
  control is on-going with rapid success. We have made and tested several analog
  compounds of which two have shown better biological activity than the original
  lead MICR-001 for asthma/COPD treatment via eosinophilia control.

• Successfully completed the invitro phase of our gastrointestinal injury /
  inflammation therapeutic collaborative program and now progressing to a
  preclinical DSS-induced colitis animal model simulating the pathology of
  necrotizing enterocolitis (NEC) and inflammatory bowel disease (IBD).

R&D focus areas in Q1:

i) Identification of the bioactive peptides in SPH that up-regulate the FTH1
gene. The FTH1 gene encodes the heavy chain of ferritin, the storage protein for
iron, and this increase has been shown to result in an increase in haemoglobin
and correct iron deficiency anaemia (IDA). The identification process has led to
7 closely related peptides which are being individually elucidated for filing a
new patent application. The company believes that in 2021 we will be able to
carry out the required clinical trials with an IDA-Enhanced-SPH product targeted
to anemia and begin the process to file for “new chemical entity” (NCE) status
with the FDA.

ii) Completed the synthesis of and invitro assays for 12 novel analog compounds
based on our MICR-001 lead structure for asthma/COPD treatment via eosinophilia
control. One MICR-001 analog (MA-005) showed superior activity to MICR-001 and
is being developed further. New patent filings are being prepared. Recruitment
for hospitalized Covid-19 patients in Brazil, Mexico, Hungary and Serbia is on-
going.

iii) The second House Dust Mite allergy mouse animal trial on modulating
eosinophilia with OmeGo® was completed successfully and the results are being
written up for publication.

iv) Successfully completed the invitro (hIESC) phase of our gastrointestinal
injury / inflammation therapeutic collaborative program and now progressing to a
preclinical DSS-induced colitis animal model simulating the pathology of
necrotizing enterocolitis (NEC) / inflammatory bowel disease (IBD) / Leaky gut.

v) A second invitro assay for sarcopenia treatment has shown a positive dose
response for SPH peptides and myostatin inhibition.

For further information, please contact:
Jon Olav Ødegård, Chief Financial Officer of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: [email protected] (mailto:[email protected])

James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: [email protected] (mailto:[email protected])

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smoker’s lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability and optimal
utilization of natural resources. Through an innovative hydrolysis technology,
HBC can preserve the quality of lipids, proteins and calcium from fresh salmon
off-cuts.

Hofseth BioCare’s headquarters are in Ålesund, Norway with branches in Oslo,
London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: PRIMARY INSIDER NOTIFICATION

Christoph Baldegger, primary insider and member of the Board of Directors in
Hofseth BioCare ASA («HBC») has today purchased 50,000 shares in HBC at an
average price of NOK 7.7295 per share.
…

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As a result of the transaction, Mr. Baldegger holds 700,000 shares in HBC, equal
to approx. 0.20 % of the outstanding shares.

This information is subject of the disclosure requirements pursuant to sections
4-2 and 5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

Hofseth Biocare ASA: SECOND QUARTER 2021 FINANCIAL REPORT

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

…

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Hofseth BioCare ASA (“HBC”) had net sales revenues of NOK 31.0m (19.9m) in the
second quarter and gross operating revenues of NOK 30.0m (20.1m). For the first
half of 2021 HBC had revenues of NOK 47.9m (38.6). Gross revenues in first
quarter 2020 included NOK 8.2m in an insurance claim settlement. Revenues in the
second quarter increased by 51 % compared to the same quarter in 2020. Adjusted
for the settlement, HBC had 36% increased revenues in first half of 2021,
compared to 2020.

Cost of Goods Sold (CoGS) amounted to NOK 21.6m (12.5m) in the quarter and NOK
29.9m (18.7m) for the first half of 2021. Operational profit (EBITDA) for the
second quarter was NOK -14.6m (-12.3m) and NOK -33.4m (22.5m) for the first half
of 2021.

Gross margin was 31 % in the second quarter, down from 38 % in the second
quarter 2020, due to higher sales volumes to feed and pet food customers, even
though also higher sales to human nutrition customers compared to the same
period last year. We expect increased gross margin in the second half and next
year. Including credit facilities, HBC had NOK 149.6m in free liquidity by the
end of the second quarter 2021.

Highlights in the second quarter:

• Extended the exclusive distribution agreement with leading speciality
  chemicals and ingredients distributor IMCD, to include most of Europe.
• Following the granting of Qualified Health Claims from Health Canada,
  asserting the maintenance of healthy levels of ferritin and hemoglobin, we
  have now successfully identified the peptides responsible for this effect.
  This will enable us to develop a capsule format to target the treatment of
  iron deficiency anaemia.
• Synthesis of a novel compound for the treatment of eosinophilic (allergic)
  inflammation such as asthma. A patent has been filed and the process will be
  completed before year end.
• Successful oral dosing of the peptides in a proprietary animal model of
  inflammatory bowel disease run at Stanford University School of Medicine.
  Further preclinical work will start imminently with the aim to commence
  clinical trial work in 2022.

In the second quarter of 2021, HBC R&D delivered the following:

• The identification of the bioactive peptides in SPH that up-regulate the
  FTH1 gene, which encodes the heavy chain of ferritin and increases the
  storage capacity for iron., This results in an increase in haemoglobin to
  correct iron deficiency anaemia (IDA). We have completed the identification
  of 8 related peptides and the structures are being assessed for their
  novelty to enable a new patent application to be filed in the Q3/Q4. We will
  complete process optimization to manufacture a FTH1-enhanced SPH in the
  second half of 2021, which will increase the concentration of these peptides
  by 2x to 4x. We will also begin trials for a capsule-based product to treat
  anaemia soon after.
• Completion of the entire QSAR (quantitative structure-activity relationship)
  program of synthesis and invitro assays of 24 novel analog compounds based
  on the MICR-001 lead structure for asthma/COPD treatment via eosinophilia
  control. The lead analog has shown significantly superior activity to the
  original molecule (MICR-001) and we are now preparing to carry out pre-
  clinical trial work. A new PCT patent (US 63/211,972 06/17/2021) has been
  filed.
• The final House Dust Mite allergy preclinical trial to modulate eosinophilia
  with orally administered OmeGo at two ranging doses (high/low) will be
  initiated in Q3.
• Together with Stanford University School of Medicine, we successfully
  completed our first pre-clinical (mouse) experiment for determining the
  effectiveness of SPH on reducing intestinal injuries in an inflammatory
  bowel disease (IBD) model. A pilot experiment showed that SPH protects the
  GI tract from (TNBS-induced) IBD at a 1% concentration. Our collaborators at
  Stanford University will next run a statistically significant assay with
  negative control peptides along with mode of action gene and biomarker
  assays on serum and tissue samples.
• Successfully completed work to identify the molecular weight range of the
  peptides in SPH driving the reduction in IBD based on HO1 (heme-oxygenase)
  gene regulation activity in SPH. Further narrowing and structural
  elucidation work will be performed in the second half of 2021.
• Multiple assays and formulation development have been successfully carried
  out to significantly expand the Brilliant™ Pet Health, daily supplementation
  product portfolio.

For further information, please contact:

Jon Olav Ødegård, Chief Financial Officer of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: [email protected] (mailto:[email protected])

James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: [email protected] (mailto:[email protected])

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and
finished products currently targeting the consumer health market. Research is
ongoing to identify the individual elements within the products that modulate
inflammation and the immune response with pre-clinical studies in multiple
clinics and university research labs in several countries. Lead clinical and
pre-clinical candidates are in development for the protection of the Gastro-
Intestinal (GI) system against inflammation, including ulcerative colitis and
the orphan condition necrotising enterocolitis, as a Medical Food to help treat
age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using
peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the
oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD
(“smoker’s lung”) as well as clinical work in COVID.

The company is founded on the core values of sustainability and optimal
utilization of natural resources. Through an innovative hydrolysis technology,
HBC can preserve the quality of lipids, proteins and calcium from fresh salmon
off-cuts.

Hofseth BioCare’s headquarters are in Ålesund, Norway with branches in Oslo,
London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act

Kilde

[TekBot]

Hofseth Biocare ASA: MANDATORY NOTIFICATION OF TRADE

Roger Hofseth has today, 30 August 2021, bought 50,000 shares at an average
price of NOK 7.2867 per share.

…

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Roger Hofseth is CEO and primary insider of Hofseth BioCare ASA. After the
transaction, Mr. Hofseth owns 50,000 shares privately and 51,500,000 shares
through his a wholly owned company RH Industri AS, totalling 51,550,000 shares
and corresponding to 14.41 % of the outstanding shares in Hofseth BioCare ASA.

This information is subject of the disclosure requirements pursuant to sections
4-2 and 5-12 of the Norwegian Securities Trading Act.

Kilde