The Simris Board of Directors have resolved to temporarily pause production operations at its microalgae facility in Hammenhög, Sweden. It is clear that the optimisation of the facility for profitable production at increased scale will require between €600k and €800k of capital expenditure and the company needs time to properly determine the design, lighting, and other equipment needed to grow highly specialised biomass for new and existing customers. Simris management has therefore confirmed that it will temporarily pause biomass production at its Hammenhög manufacturing facility. The company’s intention is to resume operations once the feasibility study is completed, strategy agreed, customers secured, and funding and other support in place. This pause in Hammenhög operations is made to ensure that all cash resources are focused on the Simris Biologics business, where the Company is seeing encouraging progress in commercial discussions and in the further development of the science - not only within the ADC field, but also beyond this into other pharma applications and cosmetics.