Bergen (Norway), February 14, 2024 - BerGenBio ASA (OSE: BGBIO), a clinical
-stage bio-pharmaceutical company developing novel, selective AXL kinase
inhibitors for severe unmet medical needs, today announced financial results for
the quarter ended December 31, 2023, and provided a business update.

Highlights, including post period

  · Phase 1b part of BGBC016 (1L NSCLC STK11m) progressed as planned with no new
safety signals identified.
  · Regulatory approvals received from European countries for Phase 2a part of
BGBC016 (1L NSCLC STK11m) allowing initiation in H1 2024 in accordance with
guidance.
  · Significant reduction of operating expenses - NOK 43.9 million for the
fourth quarter 2023, down from NOK 76.8 million from same period in 2022, a
reduction of 43%, reflecting a laser focused strategy on NSCLC.
  · Year-end cash position of NOK 156.4 million and a net cash flow in Q4 2023
of NOK -11.8 million including gross proceeds of NOK 8.9 million from exercise
of warrants in Q4.
  · Multiple Phase 2 bemcentinib data presented at prestigious oncology
meetings, including ESMO, SITC and ASH.
  · New preclinical data in models of severe respiratory infections continues to
support the potential of bemcentinib beyond NSCLC.

Martin Olin, Chief Executive Officer of BerGenBio:

"As previously guided, we expect to initiate the Phase 2a part of the BGBC016
trial in 1L NSCLC STK11m patients during the first half of 2024. Bemcentinib
represents a novel therapeutic option for NSCLC patients harboring mutations in
the STK11 gene and we are gratified to see the medical community's interest and
support in exploring bemcentinib. The BGBC016 clinical trial is our highest
priority and continues to progress as expected."

"Our cost discipline coupled with our recently executed warrant offering
provides the company with funding through the end of 2024 and potentially into
the second half of 2025 if all outstanding warrants are exercised in April
2024."

Presentation and Financial Report

The Q4 2023  Financial Report is attached to this stock exchange announcement
and the Report and the Q4 2023 presentation are available at the Company's
website (https://www.bergenbio.com/investors/financial-reports).

Webcast details

BerGenBio's senior management team will provide a business update today at 10:00
am CET. The presentation will webcast live. To participate in the webcast please
use the following registration link:

BerGenBio Q4 webcast
(office.com) (https://forms.office.com/pages/responsepage.aspx?id=
-QEn0CM7P0uPzintVGMr
-Gxc6nJw_YlNh1teJiuU8DNUMFpXWFFUWVdLTkFZMkRNV1JJRTRWVVBXVy4u)

A recording of the webcast will be available at www.bergenbio.com in the
Investors/Financial Reports
section (https://www.bergenbio.com/investors/financial-reports) shortly
afterwards.

Exercise of Warrants

  · Outstanding warrants (ticker BGBIS) can be exercised during the final
warrant exercise window from April 1-15, 2024.
  · For additional information on the upcoming Warrant Exercise window of April
1-15, 2024, please refer to:  https://www.bergenbio.com/investors/investor
-relations/warrants

Contacts

Martin Olin CEO, BerGenBio ASA

ir@bergenbio.com

Rune Skeie, CFO, BerGenBio ASA

rune.skeie@bergenbio.com

Media Relations

Jan Lilleby

jl@lillebyfrisch.no

About BerGenBio ASA

BerGenBio is a clinical-stage biopharmaceutical company focused on developing
transformative drugs targeting AXL as a potential cornerstone of therapy for
aggressive diseases, including cancer and severe respiratory infections. The
Company is focused on its proprietary lead candidate, bemcentinib, a potentially
first-in-class selective AXL inhibitor in clinical development for STK11 mutated
NSCLC and preclinical development for severe respiratory infections.

BerGenBio is based in Bergen, Norway with a subsidiary in Oxford, UK. The
company is listed on the Oslo Stock Exchange (ticker: BGBIO). For more
information, visitwww.bergenbio.com

Forward looking statements

This announcement may contain forward-looking statements, which as such are not
historical facts, but are based upon various assumptions, many of which are
based, in turn, upon further assumptions. These assumptions are inherently
subject to significant known and unknown risks, uncertainties, and other
important factors. Such risks, uncertainties, contingencies and other important
factors could cause actual events to differ materially from the expectations
expressed or implied in this announcement by such forward-looking statements.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and subject to the disclosure requirements pursuant to
section 5-12 of the Norwegian Securities Trading Act.