Hofseth Biocare ASA: AQUA SPARK AS NEW STRATEGIC INVESTOR IN HBC

Hofseth BioCare ASA ("HBC") has been informed that Aqua Spark has acquired 12,100,000 shares in an off-market transaction with Bonafide at a price per share of NOK 8.10. Aqua Spark's purchase represents a 3.38 % stake in HBC.

Aqua Spark is a global investment fund based in the Netherlands that invests in companies along the whole value chain of the aquaculture sector.

Roger Hofseth, CEO of HBC, said: "We know Aqua Spark as a highly competent investor within the aquaculture sector that shares our sustainability focus, and we are delighted to welcome Aqua Spark as a new significant shareholder in HBC and appreciates the belief Aqua Spark expresses about our products and prospects."

Amy Novogratz & Mike Velings, cofounders of Aqua-Spark: "We are extraordinarily enthusiastic about our investment in Hofseth Biocare. We were first attracted to HBC because their products perfectly close the loop of a circular economy business model by enzymatically hydrolysing the side streams of non-GMO antibiotics-free, Norwegian Atlantic salmon, reducing waste, and increasing the financial and nutritional value of the whole fish, which is an instrumental step in furthering the sustainability of the aquaculture industry. We believe that the company is on the cusp of an inflection point operationally and from a R&D perspective. In addition, the health benefits are truly extraordinary, and we are excited to see the latest results from trials and studies to be completed later this year and next. We view the company as a ‘“best-in-class’” manufacturer of consumer health and pet health ingredients, and as an incubator of new drug leads. The latter is certainly something that the market has overlooked. Hofseth Biocare has incredible findings and patents, as well as ongoing trials in the fields of Asthma and IBS, where its natural health products may be able to address a significant unmet need for mild to moderate cases of both conditions.  We have stepped into the listed market for the first time as we believe that this company’s potential is significant and undervalued by public markets on a long-term view."

For further information, please contact:

James Berger, Chief Commercial Officer of Hofseth BioCare ASA

Phone: 4

E-mail:

About Hofseth BioCare ASA

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.

The company is founded on the core values of sustainability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts.

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act