Bergen, Norway, October 2nd, 2023: Lifecare AS (LIFE), a clinical stage medicalsensor company developing the next generation Continuous Glucose Monitor (CGM))has now placed the purchase order for automated production software.
Reference is made to Lifecare's list of trigger events, as presented at thesemi-annual report of August 20th 2023 and later investor communication. Thelaunch of an automated production line by end of Q2 2024 is set as a majormilestone. To accomplish this, the company has decided on the preferred partnerand supplier of essential production machines and concluded to apply customizedScanning Electron Microscopes from Carl Zeiss IQS Deutschland GmbH (Zeiss) asthe best cornerstone equipment for the upcoming automated production.
The software order to Zeiss for automated production software is the result oflonger negotiations for clarification of overall customization and adaptationpotentials. Following the delivery, the Lifecare NanoBioSensors team inReutlingen Germany will initiate the customization efforts for the finalautomated production of Lifecare Sencell sensors. Automated pilot production isinitially planned with the Scanning Electron Microscopes ofNaturwissenschaftliches und Medizinisches Institut ("NMI") at the University ofTübingen Germany, to which Lifecare has access through an existing cooperationagreement.
Negotiations with Zeiss are further proceeding to finalize the specification,price and lead time of the Scanning Electron Microscopes is expected to befinalized in Q4 2023 for the purchase of hardware. The timeline allows forlaunch of the automated production line and entry to veterinary market by end ofQ2 2024.
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Lifecare AS is a clinical stage medical sensor company developing technology forsensing and monitoring of various body analytes. Lifecare's main focus is tobring the next generation of Continuous Glucose Monitoring ("CGM") systems tomarket. Lifecare enables osmotic pressure as sensing principle, combined withthe ability to manipulate Nano-granular Tunnelling Resistive sensors ("NTR") onthe sensor body for read-out of pressure variations. LifecareŽs sensortechnology is referred to as "Sencell" and is suitable for identifying andmonitoring the occurrence of a wide range of analytes and molecules in the humanbody.
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For further information, please contact:
Joacim Holter, CEO, Lifecare AS, joacim.holter@lifecare.attme.dev, +47 40 05 90 40
Asle Wingsternes, Head of Communications & Public Affairs,asle.wingsternes@lifecare.attme.dev, +47 41 61 42 52
This information is considered to be inside information pursuant to the EUMarket Abuse Regulation and is subject to the disclosure requirements pursuantto Section 5-12 the Norwegian Securities Trading Act.