Tromsø, Norway, 14. December 2020. ArcticZymes Technologies ASA (AZT) has today
entered into a Share Purchase Agreement (SPA) with Lallemand Inc's subsidiary,
Danstar Ferment AG for the divestment of AZT's Biotec BetaGlucans AS subsidiary
(BBG)

·
The transaction is based on an Enterprise Value of NOK 70 Million payable in
cash at closing - expected end of December 2020 and which will be subject to
customary closing accounts adjustments

  · Divestment supports AZT's strategy to focus exclusively on its profitable
enzyme business and strengthens its cash position to expedite organic and
inorganic growth options

Under the terms of the SPA, Lallemand will acquire all of the BBG assets and
associated intellectual property including the M-Gard[®], SBG[®], M-Glucan[®]
and Woulgan[®] product portfolios, and will take-over the manufacturing of beta
-glucans in the Nordøya, Tromsø manufacturing facility. The BBG business is an
excellent strategic fit for Lallemand, a global leader in the development,
production and marketing of yeast, bacteria and specialty ingredients.

In December 2019, AZT announced that it would seek to divest the Woulgan[®]
wound care business. Despite an extensive search process, no suitable purchaser
or partner was identified who was willing to acquire all or part of this
standalone business.

However, AZT did receive several proposals to acquire the entire BBG business
including the Nordøya manufacturing facility. Lallemand with production plants,
distribution centres and offices in over 50 countries was the most competitive
and qualified bidder with the expertise to fully integrate and develop the BBG
product portfolio and business whilst ensuring continuity of supply to BBG's
customers.

Divesting the BBG business will enable AZT to focus all its strategic attention
on developing its enzyme business. Significant infrastructure and research and
development investments will be made in 2021/2 to expedite organic growth of the
enzyme portfolio. In addition, inorganic growth opportunities will be sought
through merger and acquisition.

AZT CEO, Jethro Holter said:
"We are delighted to divest BBG to Lallemand who is ideally suited to take over
this business. AZT will subsequently become a pure enzyme company with all
efforts focused towards expanding it enzymes portfolio through organic and
inorganic growth initiatives."

President and CEO of Lallemand Inc., Antoine Chagnon commented:
"Our acquisition of the Biotec BetaGlucans business will broaden our beta
-glucans product portfolio as well as our access to leading technologies within
yeast-based ingredients. We look forward to offering our customers in both human
and animal nutrition sectors innovative products from Biotec BetaGlucans. We are
delighted to have secured the pharma certified Tromsø plant, our first
production facility in Norway."

-ENDS-

For more information, please contact:

ArcticZymes Technologies

Dr. Jethro Holter, CEO
Tel: +47 46 85 91 46
email: jethro.holter@arcticzymes.com



Lallemand

Lars Asferg, President, Lallemand Bio-Ingredients
Tel: +41 (79) 56 66 059
email: larsferg@lallemand.com



About ArcticZymes Technologies ASA

ArcticZymes Technologies is a Norwegian life sciences company focused on the
development, manufacturing and commercialization of novel recombinant enzymes
for use in molecular research, In Vitro Diagnostics (IVD) and therapeutics.

Listed on the Oslo Stock Exchange since 2005 originally under the [Biotec]
ticker, as Biotec Pharmacon. The company rebranded as ArcticZymes Technologies
in 2020 under the [AZT] ticker. Its headquarters are based in Tromsø, Norway, at
the SIVA Innovation Centre.

ArcticZymes Technologies' unique IP and capabilities are protected via a large
portfolio of patents.

For more information, please visit the website: www.arcticzymes.com

About Lallemand Inc.

Lallemand is a family-owned business, headquartered in Canada, whose focus is on
the development, production and marketing of yeasts, bacteria and enzymes
solutions across the baking, food ingredients, human and animal nutrition and
health, crop protection/nutrition, oenology, brewing, alcohol and biofuel
sectors. Lallemand is present in more than 50 countries, operates more than 45
production plants and has circa 4,500 employees.

 For more information, please visit the website: www.lallemand.com