In solemn circumstances yesterday late afternoon, Lifecare signed a lease fornew production facilities and a laboratory in Mainz, Germany. The letter ofintent entered into last autumn has thus been formalized with InnovationsparkMainz GmbH & Co KG.
- The lease of production premises ensures modern and effective facilitiesneeded for Lifecares planned scale up of production, with necessary clean roomfacilities and infrastructure for volume production. At the same time, thiscontract will give us the desired co-location of our two German subsidiaries,which are now located in Mainz and Reutlingen, says CEO Joacim Holter.
Lifecare's future German department will thus be located at the very entrance tothe city of Mainz, in the immediate vicinity of Johannes Gutenberg Universityand Mainz Technical College. "LAB 1" is being built here, covering around 3,000square metres. Lifecare AS will rent around 1,000 square meters on the firstfloor. The company with headquarters in Bergen is now scheduled to move into LAB1 in the summer of 2025. The duration of the lease is 10 years.
- It has been important for us to ensure continuity in an attractive andcentral area in Germany with strong traditions in medtech. It has a closelocation to the academic environment, and this is the first construction stageof a new innovation park that will reinforce the innovative environment thatalready characterizes the city and the region.
CSO in Lifecare, Prof. Andreas Pfützner points out that the buildingconstruction and the facilities at the new innovation park also meet thephysical requirements necessary for Lifecare. "We are developing sensortechnology at the nano level. For this we need a building optimized to avoidvibration or electrical interference, so that our sensitive productionprocedures are not affected or disturbed by external conditions. The co-locationof the German units will also strengthen cooperation, make future operationsmore efficient and provide even better utilization of our skilled employees",says Pfützner.
Lifecare is the first player to have signed an agreement in the new innovationpark. On Wednesday 3 May, there will be a ceremonial laying of the foundationstone with the mayor and several ministers present.
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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
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. This stock exchangeannouncement was published by Joacim Holter, CEO at Lifecare AS, on 27 April2023 at 8:00 AM CET.