Arctic Bioscience – PIR IV INVEST to distribute shares in Arctic Bioscience to fund investors

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PIR IV INVEST AS (“PIR IV”), an early stage investment SPV and major shareholder in Arctic Bioscience AS ("Arctic Bioscience"), today announced the planned dissolvement of the SPV. As a consequence, its shares in Artic Bioscience will be re-allocated to the SPV’s individual investors. PIR IV holds 2,188,250 million shares in Arctic Bioscience, corresponding to 9.0% of total shares outstanding.

In connection with the IPO of Arctic Bioscience, PIR IV entered into a customary lock-up agreement to remain in force to and including 365 calendar days after the date of admission to trading on Euronext Growth Oslo. The obligations under the lock-up agreement will in connection with the distribution be transferred to each of the fund investors.


PIR IV is a regional early stage investment fund, investing in local growth companies with international commercialization and expansion potential. Among the fund investors are two companies that are represented in the board of directors of Arctic Bioscience, Ronja Capital II and Ajea Invest AS.

Ronja Capital II holds a 12.8% share in PIR IV and will be allocated 279,795 shares in Arctic Bioscience in connection with the dissolvement of PIR IV. Ronja Capital II is a wholly owned subsidiary of Ronja Capital AS. Following the transaction, companies controlled by Ronja Capital AS and close associates holds 2,104,166 shares in Arctic Bioscience, corresponding to 8.7% of total shares outstanding. Tore Tønseth, board member and primary insider in Arctic Bioscience is investment director in Ronja Capital AS.

Ajea Invest AS, a company controlled by board member Asbjørn Solevågseide, also holds a 12.8% share in PIR IV, and will be allocated 279,795 shares in Arctic Bioscience in connection with the dissolvement of PIR IV. Following the transaction companies controlled by Asbjørn Solevågseide holds 555,359 shares in Arctic Bioscience, corresponding to 2.3% of the total shares outstanding. Solevågseide is also chairman of the board in PIR IV.

“The dissolvement of PIR IV is according to strategy and mandate, and we want to express our continued strong commitment to support Arctic Bioscience through the development stages of the company’s pharmaceutical program over the coming years. With its drug candidate for mild-to-moderate psoriasis currently in phase IIb development, the company is uniquely positioned to take a significant share of this multi-billion dollar global market and improve quality of life for the 20 million patients with this disease.  Furthermore, we believe there is strong growth potential in the company’s Romega product,” says Solevågseide, representing PIR IV.

Please see the enclosed form for further information about the transaction.

For more information, please contact

Asbjørn Solevågseide

Phone: +47 900 18 222E-mail:

About Arctic Bioscience

Arctic Bioscience is a biotech company developing pharmaceutical and nutraceutical products based on the unique properties of herring roe oil, composed of complex bioactive marine compounds, including lipids essential to maintaining cell membranes. The nutraceutical products contain lipids which contribute to the normal functioning of brain, heart and vision.

The company is developing a novel drug candidate (HRO350) for mild-to-moderate psoriasis, a large global patient population where there is substantial need for effective, convenient and cost-effective new medicines with beneficial safety profiles. Nutraceuticals from Arctic Bioscience are sold worldwide as bulk ingredients to other companies making dietary supplements (B2B) and as finished goods under the ROMEGAT brand (B2C), with significant expansion potential all channels and regions.

To support its long-term growth strategy, Arctic Bioscience is planning a state-of-the-art manufacturing facility in Ørsta. Easy access to the raw material and proprietary production processes will increase control of the value chain, improve margins and enable large-scale, high-quality manufacturing.

Arctic Bioscience is led by a highly competent team with significant expertise developing marine oils and extensive experience from some of the world's leading pharmaceutical, technology and financial services companies.

This information is subject to the disclosure requirements in EU Market Abuse Regulations (MAR) 596/2014 article 19 number 3 and the Norwegian Securities Trading Act § 5-12.