LIFE Successfully completed nine weeks of longevity trials

Bergen, Norway, 21 August 2024: Today, Lifecare ASA (LIFE), a clinical stage
medical sensor company developing the next generation Continuous Glucose
Monitor (CGM), can announce positive results from nine weeks of sensor
longevity trials.

Reference is made to press releases 18 June 2024 when the company initiated
the trials with wireless readout. The Sencell sensor that has been implanted
under the skin of the dog Elli has now passed an operational lifetime of two
months and still counting. During these months, the Lifecare Veterinary team
located at the Norwegian University of Life Sciences (NMBU) has received large
amounts of data. This validates the functionality of the Sencell sensor and
the sensor technology itself.

The main purpose of the first sensor of the longevity trial is to investigate
and confirm operational lifetime in a longevity perspective. In this context,
the primary expectations of the study are to confirm the longevity of the
physical sensor properties, and that the sensor biocompatibility ensures that
no negative body reactions occur in a longevity perspective. The Team at
Lifecare Veterinary monitors the first pet-patient Elli on a daily basis,
including reports from her owner. Elli is in good health and shows no signs of
discomfort related to the implant.

- We are very excited to conclude two months of sensor longevity under Elli's
skin. The results from the study, which has been ongoing throughout the
summer, is in line with what we expected. However, it is very encouraging to
achieve the positive results of longevity in real-world settings. As we have
passed two months of operational lifetime, based on a wireless readout, we are
proud to conclude that the initial part of the longevity study is a success,
says CEO Joacim Holter at Lifecare.

- Previous in-vitro studies have confirmed sensor lifetime of six months. With
this initial conclusion of more than 9 weeks operational lifetime in vivo --
in real life settings -- we exceed the operational lifetime of all the major
CGM systems in the market with a factor of 4,5 or more. This is, of course,
interesting in a future commercial perspective, says Holter

- Alongside the initial part of the longevity study, we are preparing to
enroll additional patients in the study to confirm these first results, and to
intensify the study beyond sensor functionality, focusing sharper on glucose
readings from both healthy dogs and dogs with diabetes. With this approach we
expect to gain increased understanding of the sensor functionality in real
life conditions, says Managing Director Jo Amundstad at Lifecare Veterinary.

The approved study protocol allows us to implant the Sencell for a period of
12 weeks, after which it will be removed and specific studies on the potential
tissue impact will be evaluated. Due to the encouraging course of this initial
part of the study, we are currently in dialog with the regulatory authorities
to increase the implant period to 24 or more weeks before removal, says
Amundstad.

About us
Lifecare ASA is a clinical stage medical sensor company developing technology
for sensing and monitoring of various body analytes. Lifecare's main focus is
to bring the next generation of Continuous Glucose Monitoring ("CGM") systems
to market. Lifecare enables osmotic pressure as sensing principle, combined
with the ability to manipulate Nano-granular Tunnelling Resistive sensors
("NTR") on the sensor body for read-out of pressure variations. Lifecare's
sensor technology is referred to as "Sencell" and is suitable for identifying
and monitoring the occurrence of a wide range of analytes and molecules in the
human body and in pets.

Contacts
For further information, please contact:

Joacim Holter, CEO, joacim.holter@lifecare.no, +47 40 05 90 40

Renete Kaarvik, CFO, renete.kaarvik@lifecare.no, +47 94 83 82 42