Tromsø, Norway, 30 January 2020 - Biotec Pharmacon (OSE: Biotec) announces its
fourth quarter and 2019 results.

Highlights from Q4 2019

  · Positive EBITDA with NOK 4.6 million (Q4 2018: NOK 1.8 million)* mainly due
to ArcticZymes sales. Accruals for onetime expenses relating to restructuring
costs amounting to NOK 2.0 million were included in the fourth quarter.

  · Gross profit for the Group improved 28% to NOK 18.1 million (Q4 2018: NOK
14.2million)* mainly due to strong top line growth in ArcticZymes.

  · ArcticZymes had fourth quarter sales of NOK 16.2 million growing by 52% (Q4
2018: NOK 10.7 million).

  · Net Cash-flow for the fourth quarter was NOK 9.2 million (3.5), explained by
underlying performance.

  · A new Group strategy was implemented with the primary objective to drive the
Group into profitability during 2020. ArcticZymes represents the main strategic
arm of the business and the decision was made to divest Woulgan

  · Hired Jethro Holter as interim CEO, replacing Christian Jørgensen.

  · ArcticZymes launched M-SAN in order to gain greater market access and growth
in the therapeutics segment.

*Excludes IFRS 5 "Assets held for sale" relating to the divestment of Woulgan.
2018 figures are adjusted according to IFRS 16 for comparison purposes

Interim CEO Jethro Holter comments:

"We are delighted with an outstanding fourth quarter performance delivering a
profitable quarter of NOK 4.6 million. The ArcticZymes business has proved
instrumental in being the main contributor to top line growth during the quarter
and 2019. The recent decision to redirect our main strategic focus toward
ArcticZymes will only catalyse the growth potential and profitability of the
company even more as we move into 2020 and beyond."

"The decision to divest Woulgan was a difficult, but right decision to take.
Despite our best efforts with feet on the ground and marketing efforts,
quarterly and annual performance fell short of our expectations. Biotec as a
standalone company will never be able to generate the kind of revenues and
attention that Woulgan deserves, hence Woulgan is best in the hands of a new
owner with considerable marketing power."

"In supporting the new strategy and delivering our promise to drive the company
into profitability during 2020, we are all reorganised and ready to achieve our
milestones."

-Ends-

Fourth Quarter 2019 Presentation and Webcast

A presentation by Biotec Pharmacon's Interim CEO, Jethro Holter, and CFO, Børge
Sørvoll, will take place today, 30 January 2020, at 08:30 am CET at Hotel
Continental, Stortingsgata 24/26, Oslo

The presentation can also be followed as a live webcast from Hegnar TV on or
https://channel.royalcast.com/webcast/hegnarmedia/20200130_6/ . It will be
possible to post questions through the webcast console.

The results, report and presentation for the fourth quarter 2019 will be
available on www.newsweb.no (https://protect
-eu.mimecast.com/s/ax_EC4xJkS8gx1SMlEBY?domain=newsweb.no) and on the Company's
homepage, www.biotec.no (https://protect-eu.mimecast.com/s/JfV3C1wDYUZ3XYhph
-Hn?domain=biotec.no) from 07:00 am on 30 January 2020.

- Ends -

For more information, please contact:

Biotec Pharmacon
Interim CEO Jethro Holter  Tel: +47 46 85 91 46
CFO Børge Sørvoll           Tel:+47 95 29 01 87
                                   ir@biotec.no

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 Tromsø to offer niche and high tech products in several
biotech segments.

ArcticZymes develops, manufactures and commercialises 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 Tromsø, 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.