Highlights:

• Secured NOK 80 million, supporting next development and regulatory milestones
• Finalized product design and production setup, positioning for near-term veterinary market entry
• Entered final regulatory review phase for first-in-human clinical approval

Diabetes affects over 600 million people worldwide, creating growing demand for reliable and driving rapid glucose monitoring. Lifecare is developing a fully implantable, miniaturized Continuous Glucose Monitoring (CGM) system designed for long-term accuracy, ease of use, and cost efficiency, advancing toward clinical validation and future commercialization.

Q3 focused on securing financing to ensure sufficient working capital and continued product development. While operations largely stayed on plan, liquidity constraints required a temporary slowdown in production workstreams, delaying completion of devices needed for the longevity trial LFC-SEN-002.

At the end of October, the Board announced a partially underwritten rights issue expected to raise NOK 80–100 million in January 2026, to be followed by two warrant exercise periods. Bridge financing will ensure operations until completion of the rights issue. The planned financing will enable continued product development, support the veterinary market launch, and advance CE-mark preparations for the human market. For further details regarding the financing, please refer to Note 9.

Early results from the longevity trial in dogs confirm excellent biocompatibility, safety, and reliable end-to-end glucose data transmission. Based on these findings, we have implemented improvements to material stability, antenna design, and firmware performance. A new batch of devices is expected to be ready for implantation in dogs in December.

Preparations for our first-in-human trial (FIH) are progressing. While regulatory approval was initially expected in Q3 2025, the evaluation process has taken longer than anticipated. At the end of October, the Norwegian Medical Products Agency (NoMA) validated our application, confirming that the documentation is complete and compliant. Final approval may be granted by mid-December 2025, allowing study initiation in Q1 2026. This pilot study will provide essential clinical validation ahead of the pivotal CE-marking trial in 2026, paving the way for a commercial launch in Europe in 2027.

Our team remains focused, disciplined, and dedicated to achieving Lifecare’s next major milestone - bringing our novel CGM technology from development to clinical trials for diabetes patients, while creating lasting value for our shareholders.

Q3 2025 results presentation:
CEO Joacim Holter and CFO Renete Kaarvik will present live on webcast today at 10:00 a.m. CET.

To access the webcast Join the meeting here.

A recording of the webcast will be available on our website after the event.