Biotec Pharmacon Q3 2019 reults

Tromsø, Norway, 24 October 2019 - Biotec Pharmacon (OSE: Biotec) announces its third quarter and first nine months 2019 results.

Highlights for Q3 2019 and the first nine months:

• Group sales marginally up from last year to NOK 22.5 million (Q3 2018: NOK 22.1 million).

• Gross profit for the Group improved 8% to NOK 15.7 million (Q3 2018: NOK 14.6 million) due to increased sales in the enzyme business.

• ArcticZymes had third quarter sales of NOK 12.0 million growing by 23% (Q3 2018: NOK 9.8 million).

• Woulgan® had lower than expected sales. Sales were NOK 1.1 million but shows growth compared to same quarter last year. Strategy to be reviewed by management and the Board of Directors.

• The Group delivered positive EBITDA with NOK 0.8 million (Q3 2018: NOK 0.6 million).

• Cash-flow for the quarter was NOK 0.7 million (Q3 2018: NOK -7.0 million).

For more information, please contact

Børge Sørvoll
CFO
borge.sorvoll@biotec.no
+47 952 90187

About Biotec Pharmacon ASA

Biotec Pharmacon is a Norwegian life sciences company focused on specialized, novel enzyme and immunomodulating beta-glucan technology. The Biotec Pharmacon Group is creating value from innovation in life science markets via its subsidiaries, ArcticZymes and Biotec BetaGlucans. Its technologies capitalize on more than three decades of world-class research at the Arctic University of Tromsø to offer niche and high tech products in several biotech segments. ArcticZymes develops, manufactures and commercialises novel recombinant enzymes for use in molecular research, In Vitro Diagnostics (IVD) and therapeutics. Biotec BetaGlucans develops, produces and markets immunomodulating beta-glucans addressing high unmet healthcare needs, such as chronic wound healing and as an adjuvant in vaccines against certain types of cancer relapse. Listed on the Oslo Stock Exchange since 2005 under the [Biotec] ticker, Biotec Pharmacon is headquartered in Tromsø, Norway, in the SIVA Innovation Centre. Biotec Pharmacon's unique IP and capabilities are protected via a large portfolio of patents around both enzyme and beta-glucan products. For more information, please visit the website: www.biotec.no.