Hofseth Biocare (HBC)

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Hofseth Biocare ASA: EXTRAORDINARY GENERAL MEETING CONCLUDED

Hofseth Biocare ASA (“HBC” or the “Company”) has today, on 4 January 2024,
completed an extraordinary general meeting. All items proposed on the agenda
were adopted, including the share capital increase of new preference class B
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shares in connection with the NOK 144 million investment from Hofseth
International AS announced on 13 December 2023.

The minutes from the meeting in Norwegian and English are enclosed.

For further information, please contact:
Jon Olav Ødegård, CEO at HBC
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”).

Other leads are focused on using the Company’s bioactive peptides as a Medical
Food for the protection of the Gastro-Intestinal (GI) system against
inflammation (including ulcerative colitis and the orphan condition necrotizing
enterocolitis).

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

HBC’s headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich,
New Jersey and Palo Alto, CA.

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

Kilde

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Hofseth Biocare ASA: SHARE CAPITAL INCREASE REGISTERED

Reference is made to the stock exchange announcement on 4 January 2024 regarding
the conclusion of an extraordinary general meeting in Hofseth Biocare ASA (“HBC”
or the “Company”) whereby the general meeting resolved, among other things, an
…

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issuance of new preference class B shares in connection with the NOK 144 million
investment from Hofseth International AS (“HI”).

Following the registration of the share capital increase in the Norwegian
Registry for Business Enterprises, the Company’s share capital is NOK
4,110,810.30 divided into 395,081,30 ordinary shares and 16,000,000 preference
class B Shares.

The preference class B shares will be issued in the VPS and delivered to HI on a
separate ISIN than the Company’s ordinary shares.

For further information, please contact:
Jon Olav Ødegård, CEO at HBC
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”).

Other leads are focused on using the Company’s bioactive peptides as a Medical
Food for the protection of the Gastro- Intestinal (GI) system against
inflammation (including ulcerative colitis and the orphan condition necrotizing
enterocolitis). The Company is founded on the core values of sustainability,
optimal utilization of natural resources and full traceability. Through
innovative and patent protected hydrolysis technology, HBC can preserve the
quality of the lipids, proteins and calcium from fresh salmon off-cuts.

HBC’s headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich,
New Jersey and Palo Alto, CA.

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 Immunology Inc successfully completes first animal model of prostate cancer with FT-005 in combination with hormonal (anti-androgen) therapy demonstrating significant anti-tumour activity

HBC Immunology Inc. (70.6% owned by Hofseth BioCare ASA) reports today the
successful completion of the first in vivo study within its prostate cancer
development program. The study assessed whether the combination of targeted
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hormonal therapy, bicalutamide, and FT-002 or FT-005 was better at suppressing
PC3 tumour growth compared to control (no treatment). PC3 represents a model of
very aggressive prostate cancer which is resistant to standard treatment.

The FT peptides are HBCI’s two leading drug candidates, and both slowed tumour
growth. By the end of the study mean tumour volumes were significantly smaller
with FT-005 treatment (p<0.05) compared to control but the effect of FT-002 did
not reach significance. Bicalutamide alone had a minimal impact on tumour
growth.

This result indicates that by effectively targeting tumour iron metabolism the
FT peptides can re-sensitised cancer to standard cancer therapy with the
potential to deliver much longer periods of tumour control.

For further information, please contact:

Dr. Crawford Currie,
Head of Medical R&D at Hofseth BioCare ASA
Tel: +44 7968 195 497
E-mail: cc@hofsethbiocare.no

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 of the Norwegian Securities Trading Act. The stock exchange
announcement was published by Jon Olav Ødegård, CEO of Hofseth BioCare ASA, at
the date and time as set out above

Kilde

[TekBot]

Hofseth Biocare ASA: FOURTH QUARTER 2023 AND FULL YEAR FINANCIAL REPORT

HBC had gross operating revenues of NOK 47.4m (33.6m) in the fourth quarter and
NOK 218.5m (120.4m) for the full year. Adjusted for the sale of assets in the
second quarter, operating revenues were NOK 194.9m for the full year,
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representing an increase compared to 2022 of 38 percent.

Cash and cash equivalents increased by NOK 6.2m during the quarter, leaving
total holding at NOK 23.9m at the end of the year, compared to NOK 32.4m at the
end of 2022. Including credit facilities, HBC had NOK 62.5m in free liquidity as
of the end of 2023.

Jon Olav Ødegård, CEO of HBC says: “I am pleased to point out the investment in
HBC through a new class of preference shares, settled by converting NOK 144
million of debt, demonstrates our commitment to financial stability and growth.
We closed the transaction in early January 2024, resulting in a strong financial
position for HBC. Our targets for 2024 have been set and this will be another
exciting year where we aim for 50 % further growth in sales and a higher
capacity utilization to deliver positive EBITDA in 2024.”

Highlights in the fourth quarter

• HBC continued its sales trend in the fourth quarter at a higher level than
  earlier years. Sales revenues were 46 million NOK in the quarter, up 26
  percent compared to fourth quarter 2022. HBC has made a significant jump
  from previous years, with total sales revenues for the year at 190 million,
  up 58 per cent, an increase of 70 million from 2022. The sales successes are
  a result of systematic promotion in international markets of our unique,
  fresh ingredients founded on science and circular economy, that has enabled
  us to enter high value human and pet markets.
• The gross margin in the fourth quarter is negatively impacted by an
  extraordinary write-down of 15 million NOK of our excess calcium inventory.
  Despite this, the trend for new projects is accelerating with several new
  product launches for CalGo and new pet buyer in the quarter. Gross margins
  excluding the write-down was at 27 percent compared to 18 percent fourth
  quarter 2022.
• R&D work on all our ingredients continued unabated and with new significant
  results already completed, the outlook for new projects continues to gather
  pace as a result. Scientific validation is crucial to differentiate and
  create credibility in a competitive market for new consumer health products.
• At the end of the fourth quarter HBC entered into an agreement with Hofseth
  International to make an investment in HBC in a new class of preference
  shares settled by converting 144 million NOK of accumulated accounts
  payables. The effect of the transaction boosted our equity ratio in January.

Highlights after the quarter

• The transaction converting accounts payables to newly issued preference B-
  shares was concluded and registered first week of January 2024. The equity
  ratio of HBC consequently improved to approximately 47 percent. Details of
  the transaction can be found in the press release and call for general
  meeting.

Please find the HBC Q4 & Full year 2023 Financial report attached.

For further information, please contact:
Christel Elise Kanli, CFO of Hofseth BioCare ASA
Phone: +47 41623188
E-mail: ck@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”).

Other leads are focused on the protection of the Gastro- Intestinal (GI) system
against inflammation (including ulcerative colitis and the orphan condition
necrotizing enterocolitis) and using peptide fractions of salmon protein
hydrolysate (SPH also known as ‘ProGo’) as a Medical Food to help treat age-
related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

Hofseth BioCare’s headquarters are in Ålesund, Norway with offices in Oslo,
London, Zürich, New Jersey and Palo Alto, CA.

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

Kilde

[TekBot]

Hofseth Biocare ASA: CHAIR KRISTIN FJELLBY GRUNG STEPS DOWN

Kristin Fjellby Grung, Chair of the Board of Hofseth BioCare ASA, has informed
the Board of Directors that she will resign from the position on 31 March 2024,
as she will assume a position as judge in the District Court of Møre and Romsdal
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and will therefore not be able to continue to serve in the position as Chair of
the Board.

Grung has been a member of the Board of Directors since December 2020, and
assumed the position as Chair in April 2022. The Board would like to thank Grung
for her services for Hofseth BioCare in this period.

Appointment of a new Chair of the Board will be proposed to the Company’s annual
general meeting, to be held on 10 May 2024. In the interim period, Roger Hofseth
will function as the Chair of the Board of Directors.

For further information, please contact:
Jon Olav Ødegård, CEO at HBC
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”).

Other leads are focused on using the Company’s bioactive peptides as a Medical
Food for the protection of the Gastro- Intestinal (GI) system against
inflammation (including ulcerative colitis and the orphan condition necrotizing
enterocolitis). The Company is founded on the core values of sustainability,
optimal utilization of natural resources and full traceability. Through
innovative and patent protected hydrolysis technology, HBC can preserve the
quality of the lipids, proteins and calcium from fresh salmon off-cuts.

HBC’s headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich,
New Jersey and Palo Alto, CA.

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

Kilde

[TekBot]

Hofseth Biocare ASA: UPDATED COMPANY PRESENTATION

Please find the HBC Company Presentation attached.

For further information, please contact:
…

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James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers’ lung”).

Other leads are focused on the protection of the Gastro- Intestinal (GI) system
against inflammation (including ulcerative colitis and the orphan condition
necrotizing enterocolitis) and using peptide fractions of salmon protein
hydrolysate (SPH also known as ‘ProGo’) as a Medical Food to help treat age-
related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

Hofseth BioCare’s headquarters are in Ålesund, Norway with offices in Oslo,
London, Zürich, New Jersey and Palo Alto, CA.

Kilde

[TekBot]

Hofseth Biocare ASA: DISCLOSURE OF LARGE SHAREHOLDING

Today, 5 April 2024, funds managed by Bonafide (Bonafide Global Fish Fund,
Bonafide Best Catches I, HBC I, and HBC II) have purchased approx. 7.1 million
shares in Hofseth BioCare ASA (“HBC”), resulting in a total shareholding above
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20% of the total voting shares outstanding in HBC.

Bonafide funds controls a total of 79,614,756 A-shares in Hofseth BioCare ASA
corresponding to approx. 20.15% of total outstanding A-shares and approx.
19.37% of total shares in HBC.

This information is subject to the disclosure requirements pursuant to sections
4-2 and 5-12 of the Norwegian Securities Trading Act and article 19 of the EU
Market Abuse Regulation.

Kilde

[TekBot]

NOTIFICATION OF MAJOR HOLDINGS

Please see attachment on www.newsweb.no
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Kilde

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Hofseth Biocare ASA: HBC ANNUAL REPORT 2023

The Board of Directors of Hofseth BioCare ASA (“HBC”) has approved the
financial statements for 2023 and the Company has today published the Annual
Report and Sustainability Report for 2023.
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Please find the Annual Report and ESG Report attached.

For further information, please contact:
Christel Elise Kanli, CFO of Hofseth BioCare ASA
Phone: +47 41623188
E-mail: ck@hofsethbiocare.no (mailto:ck@hofsethbiocare.no)

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers’ lung”).

Other leads are focused on the protection of the Gastro- Intestinal (GI) system
against inflammation (including ulcerative colitis and the orphan condition
necrotizing enterocolitis) and using peptide fractions of salmon protein
hydrolysate (SPH also known as ‘ProGo’) as a Medical Food to help treat age-
related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

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

Hofseth BioCare’s headquarters are in Ålesund, Norway with offices in Oslo,
London, Zürich, New Jersey and Palo Alto, CA.

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 2024

The Annual General Meeting of Hofseth BioCare ASA for 2024 will be held at the
company’s premises at Keiser Wilhelms gate 24, 6003 Ålesund, on 10 May 2024 at
13:00 CET.
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The notice of the Annual General Meeting is attached.

For further information, please contact:
Jon Olav Ødegård, CEO of Hofseth BioCare ASA
Phone: +47 93632966
E-mail: investor@hofsethbiocare.no (mailto:investor@hofsethbiocare.no)

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”).

Other leads are focused on using the Company’s bioactive peptides as a Medical
Food for the protection of the Gastro- Intestinal (GI) system against
inflammation (including ulcerative colitis and the orphan condition necrotizing
enterocolitis). The Company is founded on the core values of sustainability,
optimal utilization of natural resources and full traceability. Through
innovative and patent protected hydrolysis technology, HBC can preserve the
quality of the lipids, proteins and calcium from fresh salmon off-cuts.

HBC’s headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich,
New Jersey and Palo Alto, CA.

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

Kilde

[TekBot]

Hofseth Biocare ASA: Annual General Meeting completed

Hofseth BioCare ASA held its Annual General Meeting on 10 May 2024. 270,174,810
shares, amounting to 68.38 per cent of the share capital, were represent in the
meeting or by proxy. All proposals were resolved as presented in the notice
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issued on 19 April 2024 and the recommendations from the Election committee.

The minutes from the Annual General Meeting are attached.

For further information, please contact:
Jon Olav Ødegård, CEO at HBC
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no (mailto:joo@hofsethbiocare.no)

About HBC:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”).

Other leads are focused on using the Company’s bioactive peptides as a Medical
Food for the protection of the Gastro- Intestinal (GI) system against
inflammation (including ulcerative colitis and the orphan condition necrotizing
enterocolitis). The Company is founded on the core values of sustainability,
optimal utilization of natural resources and full traceability. Through
innovative and patent protected hydrolysis technology, HBC can preserve the
quality of the lipids, proteins and calcium from fresh salmon off-cuts.
HBC’s headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich,
New Jersey and Palo Alto, CA.

HBC is listed on Oslo Børs with ticker “HBC”. More information about HBC at
hofsethbiocare.com

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

Kilde

[TekBot]

Hofseth Biocare ASA: FIRST QUARTER 2024 FINANCIAL REPORT

The first quarter of 2024 continued on the positive trend for HBC. Sales
revenues came in at NOK 52m vs NOK 44m last year, a growth of 17 % YoY. The
underlying growth we are seeing is coming from both the ingredients business and
…

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finished products channels.

The ingredients business continues to have solid demand growth especially for
our core petfood products, and we have seen increased demand for our premium
pure SPH product within this segment. We are also excited to have launched two
new products in our Brilliant Petcare portfolio.

Our R&D team continue to deliver good results. We have successfully completed
various analyses, including the bioavailability assessment of marine collagen in
joint health and the characterization of the anti-diabetic effects of our
bioactive peptides. These findings not only validate the efficacy of our
products but also secure our R&D innovations and future market expansion.

HBC had gross operating revenues of NOK 52.4m (44.8m) in the first quarter and
EBITDA at NOK -16.2m (-28.5m). Cash flow from operations during the first
quarter was NOK -19.5m, compared to NOK 0.1m in first quarter last year. This
change is due to payments now made to our main raw material supplier, rather
than build-up of payables. Cash and cash equivalents, after investment and
financing activities, were stable compared to the same period last year, leaving
total cash balance at NOK 22.1m at the end of the period. Total equity amounted
to NOK 155.7m (112.7m) corresponding to an equity ratio of 39.8 % (28.8 %) for
the Group.

Highlights in the first quarter

• In Q1 2024, we continued on our positive growth trend, with sales revenues
  of 52 million NOK, up 17 percent from the first quarter last year. This
  growth is despite a general downturn in the salmon oil market, as we have
  seen high interest on our human grade salmon oil as well as our protein
  offering. Gross margin was at 48 percent in the quarter.
• The Finished Goods business demonstrated a positive performance and two new
  products in the Brilliant Petcare portfolio were launched.
• Our research and development efforts continue, showing encouraging results
  for research on all of our ingredients.
• The transaction converting accounts payables to new issued preference B-
  shares was concluded first week of January 2024

Please find the HBC Q1 2024 Financial report attached.

For further information, please contact:
Christel Kanli, CFO Hofseth BioCare ASA
Phone: +47 416 23 188
E-mail: ck@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”).

Other leads are focused on using the Company’s bioactive peptides as a Medical
Food for the protection of the Gastro- Intestinal (GI) system against
inflammation (including ulcerative colitis and the orphan condition necrotizing
enterocolitis). The Company is founded on the core values of sustainability,
optimal utilization of natural resources and full traceability. Through
innovative and patent protected hydrolysis technology, HBC can preserve the
quality of the lipids, proteins and calcium from fresh salmon off-cuts.

HBC’s headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich,
New Jersey and Palo Alto, CA.

HBC is listed on Oslo Børs with ticker “HBC”. More information about HBC at
hofsethbiocare.com

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

Kilde

[TekBot]

Hofseth Biocare ASA: AGREES CHINA DISTRIBUTION PARTNERSHIP WITH SHANGHAI-BASED LITHY

Hofseth BioCare ASA (HBC) is delighted to announce the appointment of Lithy One-
Health Group Technology Co. Ltd (Lithy) as an additional distributor in China.

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Shanghai-based Lithy has entered into an agreement with HBC to distribute its
science-led marine nutrition ingredients, ProGo® bioactive peptides, OmeGo® full
spectrum omegas and CalGo® natural, undenatured type II collagen, to supplement
manufacturers across the country.

Lithy, which was established in 2002, has three subsidiaries that supply
botanical extracts and dietary supplement ingredients to the Chinese
nutraceutical and pharmaceutical markets. Lithy also has in-house manufacturing
capabilities and a number of ready-to-go formulations using HBC ingredients.

James Berger, Chief Commercial Officer for HBC, said: “We are excited to take
this important step in our partnership with Lithy, to establish the additional
distribution in China of our science-led marine nutrition ingredients and
further develop product formulations that are ready-to-go to market via brand
owners.”

HBC is a Norwegian consumer and pet health company that specialises in science-
led marine nutrition. The company is founded on the core values of
sustainability, traceability and optimal utilization of natural resources.

For more information about Hofseth BioCare, visit: hofsethbiocare.com

About HBC:
HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. For OmeGo, clinical trial work with our
salmon oil is ongoing to improve lung health in allergic asthma and urban
populations with exposure to raised pollution levels. A study in mild COVID has
completed successfully demonstrating important immune health benefits for faster
recovery. For CalGo, preclinical and clinical trial work is delineating the
joint health benefits of the natural, undenatured type II collagen contained in
it. ProGo provides both metabolic and gastrointestinal (GI) health benefits. The
former includes GLP1 activity and hence consistent weight loss with improved
energy levels from improved iron metabolism. The peptides also support muscle
health providing a triad of benefits important for healthy ageing and active
lifestyles. In terms of GI health, a special formula of soluble protein
hydrolysate (SPH / ProGo®) is being developed as a Medical Food to help treat
Inflammatory Bowel Disease, and for Iron Deficiency Anemia. Research is ongoing
to identify the individual elements within its ingredients that modulate
inflammation and the immune response with pre-clinical studies ongoing in
multiple clinics and University research labs.

The company is founded on the core values of sustainability, optimal utilization
of natural resources and full traceability. Through an innovative hydrolysis
technology, HBC can preserve the quality of the lipids, proteins and calcium
from fresh salmon off-cuts. HBC’s headquarters are in Ålesund, Norway with
branches in Oslo, London, Zürich, New Jersey and Palo Alto. HBC is listed on
Oslo Børs with ticker “HBC”.

For further information on HBC, please contact:??

Nick Frampton (PhD), Global Head of Consumer Health at HBC
nick@hofsethbiocare.com
??
For press information or to arrange an interview, please contact:??
Sara Houghton, BDB??
hofsethbiocare@bdb.co.uk ??
(+44) 161 925 4700

Kilde

[steeler77]

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Hofseth Biocare ASA: HBC discovers new drug candidate for asthma and transfers it to HBC Immunology Inc.

Ålesund, 02.07.24, Hofseth BioCare ASA (“HBC” or the “Company”), a global leader
in marine lipid and peptide research, today announces the decision to transfer
its eosinophil-targeting drug candidate MA-022a to its majority-owned subsidiary
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HBC Immunology Inc. (“HBCI”). The patent underlying the project has been valued
by KWC AS at $4.5m (based on relief-from royalty method) and HBC will therefore
receive 956,813 common shares in HBCI for the transfer of the patent to HBCI.

HBC has booked approximately NOK 7.4m in costs relating to the patent as per
June 1, 2024. Transfer of the patent will generate an approximately NOK 7.9m
financial gain for HBC in Q2/2024 based on today’s exchange rate.

Eosinophils are immune cells that become overactive in allergic and
hypersensitivity conditions including allergic asthma. To date, MA-022a has been
assessed in animal models of allergic asthma which have shown a compelling
treatment effect with reduced airway obstruction and a healthier lung structure.
This work included the oral asthma prescription drug montelukast (brand name
Singulair) as a comparator. MA-022a demonstrated a differentiated profile
indicating the potential to provide different treatment benefits and help
further improve asthma outcomes.

Work has also begun with MA-022a in eosinophilic esophagitis (EoE). EoE presents
with symptoms similar to heartburn (reflux esophagitis) but does not respond to
standard treatment and can progress to pain on swallowing and even difficulty in
swallowing. MA-022a has a different mode of action compared to the two currently
available therapies, biologic therapy and steroids. MA-022a could therefore add
to the clinical armamentarium in this increasingly prevalent condition.

MA-022a is an analogue of the naturally occurring lipopeptide microcolin A. HBC
identified microcolin A as a minor fraction of its whole salmon oil, OmeGo(®),
(https://hofsethbiocare.com/products/omego) and has published novel research on
its anti-allergic effects. MA-022a has significantly greater anti-allergic
effects than microcolin A and these findings combined with the novel structure
of MA-022a has enabled long duration patent protection.

Dr Bomi Framroze, the Chief Scientific Officer at HBC and CEO of HBCI said: “The
adequate control of asthma remains a challenge for many sufferers and more
treatment options are needed to support better health. Our aim is to develop an
oral therapy, based on a natural compound, to improve the lung health of
individuals suffering from mild to moderate eosinophilic asthma and reduce the
need for escalating doses of inhaled steroid therapy”.

For more information visit: https://hofsethbiocare.com/

For further information, please contact:
Dr. Crawford Currie, Head of Medical R&D at HBC, Chief Medical Officer at HBCI
Phone: +44 7968195497
E-mail: cc@hofsethbiocare.no (mailto:cc@hofsethbiocare.no)

About HBC:
HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. For OmeGo, clinical trial work with our
salmon oil is ongoing to improve lung health in allergic asthma and urban
populations with exposure to raised pollution levels. A study in mild COVID has
completed successfully demonstrating important immune health benefits for faster
recovery. For CalGo, preclinical and clinical trial work is delineating the
joint health benefits of the natural, undenatured type II collagen contained in
it. ProGo provides both metabolic and gastrointestinal (GI) health benefits. The
former includes GLP1 activity and hence consistent weight loss with improved
energy levels from improved iron metabolism. The peptides also support muscle
health providing a triad of benefits important for healthy ageing and active
lifestyles. In terms of GI health, a special formula of soluble protein
hydrolysate (SPH / ProGo®) is being developed as a Medical Food to help treat
Inflammatory Bowel Disease, and for Iron Deficiency Anemia. Research is ongoing
to identify the individual elements within its ingredients that modulate
inflammation and the immune response with pre-clinical studies ongoing in
multiple clinics and University research labs.

The company is founded on the core values of sustainability, optimal utilization
of natural resources and full traceability. Through an innovative hydrolysis
technology, HBC can preserve the quality of the lipids, proteins and calcium
from fresh salmon off-cuts. HBC’s headquarters are in Ålesund, Norway with
branches in Oslo, London, Zürich, New Jersey and Palo Alto. HBC is listed on
Oslo Børs with ticker “HBC”.

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

Kilde

[TekBot]

Hofseth Biocare ASA: GROUNDBREAKING STUDY REVEALS HOFSETH BIOCARE’S FULL SPECTRUM OMEGAS OMEGO SUPPORTS COVID-19 RECOVERY

Ålesund, Norway, 14 August, 2024 - Hofseth BioCare (HBC), a leader in science-
led marine nutrition, proudly announces compelling new findings from a recent
study on the benefits of its enzymatically liberated salmon oil, OmeGo®, for
…

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COVID-19 recovery.

Published in the International Journal of Molecular Sciences, this pioneering
research demonstrates that OmeGo® has the potential to improve immune responses
and reduce inflammation in individuals with mild to moderate COVID-19 infection,
caused by the SARS-CoV-2 virus.

The study found that subjects taking OmeGo® had significantly lower levels of
pro-inflammatory cytokines, which is vital for reducing the acute inflammatory
response linked to the complications of COVID-19. Additionally, OmeGo®
supplementation led to better interferon-related gene expression, essential for
effective viral clearance and maintaining a balanced immune response.
Participants also showed improved lung barrier function and enhanced immune
memory, indicating a strong and lasting immune defence.

The research sheds light on the potential role of whole salmon oil in managing
long COVID, a condition affecting an estimated 65 million people globally, and
presents significant opportunities for nutraceutical companies seeking
scientifically-backed, natural, and well-tolerated solutions to enhance immune
health.

Dr. Crawford Currie, lead author and Head of Medical R&D at HBC, comments: “The
Covid-19 pandemic cast immune health under the spotlight and since then,
consumers worldwide have been exploring solutions to proactively boost their
viral defences. The broad-spectrum benefits of our enzymatically liberated
salmon oil stand as a beacon of hope, with this latest study demonstrating its
power to modulate the immune response, aid recovery and reduce the risk of
severe outcomes. OmeGo® encapsulates the essence of whole fish, offering
profound health benefits that extend beyond nutrition to help fortify our immune
systems and support recovery from viral infections.”

OmeGo®, derived from Norwegian Atlantic salmon, mirrors the lipid profile of
whole salmon and provides unique anti-inflammatory and anti-allergic benefits
distinct from omega-3 alone. When combined with previous studies, this latest
discovery underlines OmeGo®’s position as a one-of-a-kind salmon oil - offering
lung, cardiovascular, joint, and immune function support.

It also builds on the bank of evidence that underutilised salmon off-cuts are a
sustainable, zero-waste resource for optimal nutritional performance.?HBC is now
in the process of conducting another study to assess the impact of OmeGo® on
respiratory symptoms, sleep quality and inflammation in urban-dwelling subjects
affected by pollution, with results expected before the end of 2024.

Find the full scientific study here (https://www.mdpi.com/1422-
0067/25/13/6917) or for more information contact the Hofseth BioCare team:
Hofseth BioCare | Research and development (https://hofsethbiocare.com/research-
and-technology).

About HBC:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. For OmeGo®, clinical trial work with our
salmon oil is ongoing to improve lung health in allergic asthma and urban
populations with exposure to raised pollution levels. A study in mild COVID has
completed successfully demonstrating important immune health benefits for faster
recovery. For CalGo®, preclinical and clinical trial work is delineating the
joint health benefits of the natural, undenatured type II collagen contained in
it. ProGo® provides both metabolic and gastrointestinal (GI) health benefits.
The former includes GLP1 activity and hence consistent weight loss with improved
energy levels from improved iron metabolism. The peptides also support muscle
health providing a triad of benefits important for healthy ageing and active
lifestyles. In terms of GI health, a special formula of soluble protein
hydrolysate (SPH / ProGo®) is being developed as a Medical Food to help treat
Inflammatory Bowel Disease, and for Iron Deficiency Anemia. Research is ongoing
to identify the individual elements within its ingredients that modulate
inflammation and the immune response with pre-clinical studies ongoing in
multiple clinics and University research labs.

The company is founded on the core values of sustainability, optimal utilization
of natural resources and full traceability. Through an innovative hydrolysis
technology, HBC can preserve the quality of the lipids, proteins and calcium
from fresh salmon off-cuts. HBC’s headquarters are in Ålesund, Norway with
branches in Oslo, London, Zürich, New Jersey and Palo Alto. HBC is listed on
Oslo Børs with ticker “HBC”.

For further information on HBC, please contact:
Dr. Crawford Currie, Head of Medical R&D
cc@hofsethbiocare.com

For press information or to arrange an interview, please contact:
Sara Houghton, BDB
hofsethbiocare@bdb.co.uk

Kilde

[TekBot]

Hofseth Biocare ASA: SECOND QUARTER AND HALF YEAR 2024 FINANCIAL REPORT

HBC had gross operating revenues of NOK 80.4m (76.4m) in the second quarter and
NOK 132.8m (121.2m) for the half year. Adjusted for the sale of assets in the
second quarter, sales revenues were NOK 72.2m (50.7m) for the quarter,
…

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representing an increase compared to the same quarter in 2023 of 42 percent.

Cash and cash equivalents increased by NOK 3.1m during the quarter, leaving
total holding at NOK 25.3m at the end of June, compared to NOK 22.4m at the end
of March. Including credit facilities, HBC had NOK 26.7m in free liquidity as of
the end of June.

Jon Olav Ødegård, CEO of HBC says: “I am pleased to see the significant sales
growth in the second quarter truly showing the increasing value that our
customers see in our premium products. HBC continues on its mission of science-
led marine nutrition by a notable transfer of another pharmaceutical lead
candidate to our daughter company in the US. In summary, as set at the start of
2024, HBC is still targeting c. 50 % growth in sales, a higher capacity
utilization and positive EBITDA at the end of the year.”

Highlights in the second quarter

• HBC had new record quarterly sales revenues in the second quarter of NOK
  72.2m up 42 percent from NOK 50.7 m in the second quarter 2023, excluding
  sale of assets in both quarters. Sales revenues were up 39 percent compared
  to first quarter in 2024. The increase is testament to gaining traction in
  major markets and our ability to turn the raw material into products that
  are valued by our customers. Worth mentioning is the growing interest in our
  premium pet products, both the functional ingredients and palatability
  enhancers.
• Production volumes were also high in the quarter, up 9 percent from Q1 to Q2
  and 31 percent higher than Q2 last year. During the quarter, HBC has
  received deliveries from new raw material suppliers.
• Gross margin in second quarter was 34 percent, which is lower than first
  quarter and is accountable to change in product mix sold. Cash flow from
  operating activities came in on the positive side.
• In April, our laboratory in Midsund was accredited according to ISO 17025,
  enabling HBC in doing most of its microbiological analyses in-house.
• In June, the company recognised NOK 8.2m in profit from its second sale of
  assets, patents, to its associated company, HBC Immunology Llc. (HBCI),
  registered in USA. The latest spin-off relates to eosinophil-targeting drug
  candidate MA-022a. Eosinophils are immune cells that become overactive in
  allergic and hypersensitivity conditions including allergic asthma. HBC
  holds a 72 % shareholding in HBCI.

There have not been any significant events after the quarter.

Please find the HBC Q2 & Half year 2024 Financial report attached.

For further information, please contact:
Christel Elise Kanli, CFO of Hofseth BioCare ASA
Phone: +47 41623188
E-mail: ck@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”).

Other leads are focused on using the Company’s bioactive peptides as a Medical
Food for the protection of the Gastro- Intestinal (GI) system against
inflammation (including ulcerative colitis and the orphan condition necrotizing
enterocolitis). The Company is founded on the core values of sustainability,
optimal utilization of natural resources and full traceability. Through
innovative and patent protected hydrolysis technology, HBC can preserve the
quality of the lipids, proteins and calcium from fresh salmon off-cuts.

HBC’s headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich,
New Jersey and Palo Alto, CA.

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 IMMUNOLOGY COMPLETES IN VIVO DRUG LEAD STUDIES FOR PROSTATE CANCER TREATMENT

Ålesund, Norway, 8 October 2024.

HBC Immunology (HBCI) is pleased to announce the successful completion of its
…

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prostate cancer treatment xenograft studies with its lead peptide FT-002a in a
novel oral formulation in combination with standard of care hormonal-targeting
therapy. Oral FT-002a significantly augmented the anti-tumour activity of
enzalutamide (Xtandi(®)) the market-leading androgen receptor inhibitor, in
models of indolent and aggressive prostate cancers.

Prostate cancer remains the most diagnosed cancer in men. Whilst most cases do
not shorten life expectancy, advanced prostate cancer remains incurable. Hormone
therapy remains the cornerstone of treatment; however, tumours eventually find
ways of overcoming treatment and start to grow and spread. Co-therapies that can
reinvigorate cancer treatments can provide vital clinical avenues to enhance
tumour cell sensitivity, as well as reversing resistance to standard cancer
therapies.

Dr Bomi Framroze, Chief Executive Officer of HBCI explains: “The ability of
cancer to hack the iron metabolism pathways is an important driver of tumour
growth and spread, and a means by which cancers can overcome the effects of
treatment. Our lead peptide candidate, FT-002a, holds exciting potential to
enhance the effectiveness of cancer therapy and improve the health and wellness
of cancer patients.”

Higher levels of iron are needed by cancer cells to support growth and spread.
In addition to elevated levels of tumour regression, FT-002a demonstrated a
significant decrease in biomarkers of free iron in prostate cancer tumour cells,
validating the proposed mode of action.

The combination of these promising results with the inherent safety profile of
peptidyl drugs means HBCI is well positioned to make an IND submission for its
oral co-therapy for prostate cancer treatment in Q4 2025.

For further information on HBC, please contact:
Dr Crawford Currie, Head of Medical R&D
Tel: +44 7968 195 497
cc@hofsethbiocare.com (mailto:cc@hofsethbiocare.com)

About HBC:
HBC is a Norwegian human and pet health ingredient supplier and an incubator for
new pharmaceutical drug leads, which are then developed by HBCI to enable the
clinical development of novel therapies. To date, the FT peptides, targeting
cancer, and MA-022, for asthma, have been transferred to HBCI for ongoing R&D
work. HBC retains 70% ownership of HBCI.

Research is ongoing to identify the individual elements within its ingredients
that modulate inflammation and the immune response with pre-clinical studies
ongoing in multiple clinics and university research labs. Lead clinical and pre-
clinical candidates are focused on developing an oral treatment for inflammatory
disease driven by eosinophils (a type of white blood cell). Clinical trial work
with full-spectrum omega salmon oil is ongoing to improve respiratory health in
individuals with allergic asthma and in urban populations exposed to significant
levels of pollution and has already shown beneficial effects on COVID recovery.

Other leads are focused on the protection of the Gastro-Intestinal (GI) system
against inflammation (including ulcerative colitis and the orphan condition
necrotizing enterocolitis) and the use of a special formula of soluble protein
hydrolysate (SPH, also known as ProGo(®)) as a Medical Food to help treat IBD
and Iron Deficiency Anemia.

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

HBC is listed on Oslo Børs with ticker “HBC”. https://hofsethbiocare.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading
Act.

Kilde

[TekBot]

Hofseth Biocare ASA: CFO RESIGNATION

Christel Elise Kanli has decided to step down as Chief Financial Officer (CFO)
of Hofseth BioCare ASA (“HBC”) to pursue opportunities outside of the company.

…

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“I would like to thank Christel for her efforts and positive contributions to
HBC. I wish her all the best of luck in her future endeavors” said Jon Olav
Ødegård, CEO of HBC. HBC has initiated a search for Kanli’s successor for the
CFO position.

Contact details for further information:
Jon Olav Ødegård, CEO
E-mail: joo@hofsethbiocare.no

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act. This stock exchange announcement
was published by Jon Olav Ødegård, CEO, on the time set out above, on behalf of
HBC.

Kilde

[TekBot]

Hofseth Biocare ASA: THIRD QUARTER 2024 FINANCIAL REPORT

HBC had gross operating revenues of NOK 67.9m (49.9m) in the third quarter and
NOK 200.6m (171.1m) in the first nine months. The operating loss (EBITDA) for
the quarter was NOK -21.0m (-16.2m) and NOK -39.2m (-26.3m) for the first nine
…

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months. Operating result (EBIT) amounted to NOK -30.5m (-25.2m) in the third
quarter 2024. Cash and cash equivalents decreased by NOK 1.9m during the
quarter, leaving a total holding at NOK 23.4m at the end of September, compared
to NOK 25.3m at the end of the second quarter 2024. Including credit facilities,
HBC had NOK 31.3m in free liquidity as of the end of September 2024.

Highlights in the third quarter

• Sales grew by 36% in Q3 2024, compared to Q3 2023 and B2B gross margin ended
  at 41.2%, compared to 33.9% in Q3 2023. A stronger gross margin in the B2B
  segment was driven by higher pricing of our ingredients and increased sales
  of CalGo®.
• In July, HBC announced the transfer of its eosinophil-targeting drug
  candidate MA-022a to HBC Immunology Inc. (“HBCI”). The patent underlying the
  project was valued at $4.5m and HBC received 956,813 common shares in HBCI
  for the transfer of the patent to HBCI.
• In August, HBC published a groundbreaking study of our full spectrum omegas
  oil OmeGo® to support COVID-19 recovery in the International Journal of
  Molecular Sciences. The research demonstrates that OmeGo® improved immune
  response and reduced inflammation in individuals with mild to moderate
  COVID-19 infection.
• For B2B sales in the human nutrition channel, the third quarter showed
  strong sales growth with revenue up 91%, compared to 2023. Growth was driven
  by continued strong demand in Europe for CalGo® and sales of ProGo® in Asia.
  During the quarter, HBC worked closely with our distributor network and
  undertook a series of key customer meetings across Asia.

Subsequent events

• In October, HBCI completed prostate cancer xenograft studies with its lead
  peptide FT-002a in combination with standard of care hormone-targeting
  therapy. The novel oral formulation of FT-002a (FT-002a-O) significantly
  augmented the anti-tumour activity of enzalutamide (Xtandi®), the market-
  leading androgen receptor inhibitor.

Please find the Q3 Financial report attached.

For further information, please contact:
Jon Olav Ødegård, CEO of Hofseth BioCare ASA
Phone: +47 93632966
E-mail: investor@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new pharmaceutical drug leads. Research is ongoing to identify the
individual elements within its ingredients that modulate inflammation and the
immune response with pre-clinical studies ongoing in multiple clinics and
university research labs. Lead clinical and pre-clinical candidates are focused
on developing an oral treatment for inflammatory disease driven by eosinophils
(a type of white blood cell). Clinical trial work with the oil is ongoing to
ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”).

Other leads are focused on using the Company’s bioactive peptides as a Medical
Food for the protection of the Gastro- Intestinal (GI) system against
inflammation (including ulcerative colitis and the orphan condition necrotizing
enterocolitis). The Company is founded on the core values of sustainability,
optimal utilization of natural resources and full traceability. Through
innovative and patent protected hydrolysis technology, HBC can preserve the
quality of the lipids, proteins and calcium from fresh salmon off-cuts.

HBC’s headquarters are in Ålesund, Norway with offices in Oslo, London, Zürich,
New Jersey and Palo Alto.

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

Kilde