Bergen, Norway 24.06.21 Lifecare AS has acquired 100% ownership of the German company Cantimed UG, following a share purchase agreement withNanoscale Systems Nanoss GmbH . The transaction includes a license ensuring Lifecare´s access to the patented Nano3DSense technology in the medical field. This implies a continuation of Lifecare's license covering the field of diabetes originally established in 2018 - and in addition broadens the Lifecares license to cover the entire medical field. This is opening significant business opportunities for Lifecare to develope additional nanobiosensors. The transaction also gives Lifecare the right to sublicense the technology to third parties based on pre-approved conditions. "The patented Nano3DSense technology is a key production method to miniaturize the Sencell sensing system, which will be based on highly sensitive micro-electronic mechanical systems and nano-cantilevers", says Lifecare CSO Prof. Andreas Pfützner. The combination of Lifecares proprietary Sencell technology and the Cantimed- licensed Nanos3DSense technology positions Lifecare as an innovative nanobiosensor company. Cantimed will form the new operational basis of Lifecare inGermany as the development of Sencell and other various nanobiosensors based on Lifecares proprietary technologies evolves. The transaction has a value ofEUR 650 000, of whichEUR 280 000 will be paid in cash on closing and the remainingEUR 370 000 will be paid within 24 months subject to and based on satisfaction of terms in the agreement. "This transaction replaces Lifecares previous license at an originally agreed cost of totalEUR 1,5 Million , limited to the field of diabetes", saysJoacim Holter , Lifecare CEO. The ownership of Cantimed enables Lifecare to introduce its unique sensing system for glucose and many other analytes both in combination with the Sencell technology and as stand-alone nanobiosensors to cover a wide range of medical applications. "In combination with the previously announced intention from theEuropean Patent Office to grant Lifecare a new patent for the improved Sencell sensing system based on two chambers, and the extended cooperation withBath University to develop chemistry solutions for additional analytes to fully use the improved osmotic-pressure based sensors, Lifecare is strategically well positioned to exploit the potential of the Nano3DSensing technology", saysJoacim Holter . "The implication of this transaction is important for Lifecare. Not only does it strengthen the ownership to our basic developments, but it also positions Lifecare as a leading company within the field of nanobiosensor developments". This is Lifecare Lifecare is aBergen -based technology company developing a miniaturized implantable long-term sensor for correct and continuous monitoring of blood sugar in people with diabetes. The company's patented technology also has the potential for use in various biomarkers.Lifecare AS is listed on Euronext Growth (LIFE). Further informationJoacim Holter , CEO,Lifecare AS , joacim.holter@lifecare.no, +47 40 05 90 40 This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. Thisstock exchange announcement was published byKine Hereid , Investor Relations atLifecare AS , on24 June, 2021 at08:30 CET .
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