Tromsø, Norway, 2[nd] December 2019 - Biotec Pharmacon (OSE: Biotec) has decided
to focus its future on the enzymes business and holds an update presentation on
10[th] December.

· Seek a new owner for the wound care - Woulgan®
  · Drive profitability through the enzymes business (ArcticZymes)
  · Sales activities in Animal and Consumer health integrated under ArcticZymes.

 Biotec has for several years invested in innovative wound care treatments under
the tradename Woulgan®. The response from the addressed markets to the clinical
benefits of using Woulgan® are positive. Despite relentless efforts, Biotec
cannot create commercial success with limited resources and marketing power.
Consequently, the company has decided to stop further development of Woulgan®
and search for a new product owner. The company will engage an external business
development consultant to assist in this process. In the meantime, Biotec will
continue to fully support existing customers and prepare itself to be
transaction ready.


Jethro Holter, Interim CEO of Biotec Pharmacon said:
"In supporting the new direction, the Company will undergo a structural
reorganisation ensuring the appropriate level of resources are allocated to the
respective businesses. Also, unnecessary costs will be eliminated with the
intention of driving the Group to profitability during 2020."

Biotec will focus on organic and inorganic growth opportunities in ArcticZymes.
The goal is to strengthen its position as a global leading supplier and one-stop
-shop of innovative enzymes in high-growth molecular biology market segments.

The animal and consumer health businesses are a profitable part of the company
and will be integrated under ArcticZymes because of similarities in driving
commercial relationships and supply deals. Furthermore, the adjuvant part of the
business will focus towards a future licensing agreement.

Dr. Marie Roskrow, Chairman of the Board said:
"Despite the company's considerable efforts over the last years to create
commercial success for Woulgan, revenues have not materialised according to
expectations. After evaluating future options, it's evident that we cannot drive
this business into profitability, therefore we have made this difficult decision
to seek a new owner for the product."

The company will hold an investor update presentation on Dec 10[th] 2019, at
1400 CET, Hotel Continental (Oslo), to further elaborate on the press release. A
separate invitation with webcast details will be sent out separately.

- ENDS -

For more information, please contact:

Jethro Holter, Interim CEO                                         Tel: +47 46
85 91 46

Dr. Marie Roskrow, Chairman of the Board               Tel: +44 12 78 66 27 82

About Biotec Pharmacon ASA

Biotec Pharmacon is a Norwegian life sciences company focused on specialized,
novel enzyme and immunomodulating beta-glucan technology.

The Biotec Pharmacon Group is creating value from innovation in life science
markets via its subsidiaries, ArcticZymes and Biotec BetaGlucans. Its
technologies capitalize on more than three decades of world-class research at
the Arctic University of Tromsoe to offer niche and high-tech products in
several biotech segments.

ArcticZymes develops, manufactures and commercializes novel recombinant enzymes
for use in molecular research, In Vitro Diagnostics (IVD) and therapeutics.

Biotec BetaGlucans develops, produces and markets immunomodulating beta-glucans
addressing high unmet healthcare needs, such as chronic wound healing and as an
adjuvant in vaccines against certain types of cancer relapse.

Listed on the Oslo Stock Exchange since 2005 under the [Biotec] ticker, Biotec
Pharmacon is headquartered in Tromsoe, Norway, in the SIVA Innovation Centre.

Biotec Pharmacon's unique IP and capabilities are protected via a large
portfolio of patents around both enzyme and beta-glucan products.

For more information, please visit the website: www.biotec.no.

About ArcticZymes

ArcticZymes develops, produces and markets novel recombinant enzymes for use in
molecular research, In Vitro Diagnostics (IVD) and therapeutics.

The Company focuses on novel and high-quality enzyme technologies in growth
markets where rapid technological developments are creating a strong demand for
new and improved enzymes.

Some of its enzymes' unique features include heat lability and activity in
challenging environments as well as customized, engineered novel features which
can be integrated to power the technologies of commercial partners.

All ArcticZymes products are ISO certified.

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