Oslo, Norway, 24 August 2023 - Circio Holding ASA (OSE: CRNA), a biotechnology
company developing novel circular RNA and immunotherapy medicines, today
announces its first half 2023 results.

Members of Circio's executive management team will give an online presentation
to investors, analysts and the press at 10:00 CET today (details below).

FIRST HALF 2023 HIGHLIGHTS

Corporate

  · The company was rebranded as Circio, an innovator in next generation
circular RNA therapeutics
  · A convertible bond facility with Atlas Special Opportunities was
established, securing up to NOK 300 million in financing over three years
  · The organization was restructured to reflect the new strategic focus on
circRNA, which will lead to significant payroll savings

Circular RNA

  · Technical proof-of-concept was established for novel circVec vector types
and designs, including demonstrating 15X extended half-life vs. mRNA in vitro
  · A patent application was filed for the circAde concept
  · Two circRNA posters were presented at the major oncology and gene therapy
conferences AACR and ASGCT

Mutant KRAS

  · The first patient was dosed with TG01 in the multiple myeloma study at Oslo
University Hospital
  · The first patient was dosed with TG01 in the anti-PD-1 combination study in
pancreatic cancer at Kansas University, USA

Erik Digman Wiklund, CEO commented: "Circular RNA is a powerful new format for
RNA therapeutics, and with our differentiated circVec platform we have a unique
opportunity to take a leading role in this emerging space. We are rapidly
building our technical capabilities to demonstrate the versatility and broad
potential of our technology and put Circio in position to capture the
significant potential of vector-delivered circRNA."

Key figures

Amounts in NOK thousands                   1H 2023  1H 2022   FY 2022

Total operating revenues                                       10 002
Total operating expenses                   -72 519  -59 786  -503 593
Operating profit/loss                      -72 519  -59 786  -493 591
Net financial items                         -3 443      164    -1 737
Income tax                                       -       21    62 430
Net profit/loss                            -75 962  -59 601  -432 898

Basic and diluted EPS (NOK/share)            -0.40    -0.32     -2.30
Net change in cash                         -34 652  -55 884  -115 667
Cash and cash equivalents start of period   66 015  181 682   181 682
Cash and cash equivalents end of period     31 363  125 798    66 015

  The interim financial information has not been subject to audit

Presentation

We invite to a live webcast today at 10.00 CET. You can join the webcast
here (https://bit.ly/3OCZMgI). It will be possible to submit questions during
the presentation.

Reporting material

  · CRNA 1H'23
report.pdf (https://mb.cision.com/Public/17093/3822745/9e78cf10547768c8.pdf)
  · CRNA 1H'23
presentation.pdf (https://mb.cision.com/Public/17093/3822745/a506c6d00da96250.pd
f
)

The half year report and presentation are also available at the website
www.circio.com.

***

For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@circio.com (erik.wiklund@targovax.com)

Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Email: renate.birkeli@circio.com (renate.birkeli@targovax.com)

About Circio

Building next generation RNA therapeutics

Circio Holding ASA is a biotechnology company developing novel circular RNA and
immunotherapy medicines.

Circio has established a unique circular RNA (circRNA) platform to develop novel
circRNA medicines for cancer, vaccines, rare disease, protein replacement
therapy and cell therapy. The proprietary circVec technology is based on a
modular genetic cassette design for efficient biogenesis of multifunctional
circRNA that can be deployed for many purposes. The most advanced concept,
circAde, builds on the companyŽs validated adenovirus platform to deliver
circRNA for durable expression of therapeutic proteins directly into cancer
cells. This unique approach is the only currently known circRNA program capable
of targeting solid tumors. The circVec platform has broad potential
applications, and CircioŽs strategy is to generate one or more lead candidates
for in house development in specific disease indications and in parallel seek
partnerships for other technical applications and therapeutic areas. The circRNA
R&D activities are being conducted by the wholly owned subsidiary Circio AB
based at the Karolinska Institute in Stockholm, Sweden.

In addition to Circio's circRNA program, the Company's' clinical stage
immunotherapy programs are designed to activate the patientŽs own immune system
to fight cancer cells and provide benefit to patients with no or few treatment
alternatives. ONCOS-102 has demonstrated an excellent safety profile, strong
immune responses and clinical efficacy in several cancer types in Phase 1/2
studies, both as monotherapy and in combinations with checkpoint inhibitors or
standard-of-care chemotherapy. A phase 2 trial to confirm the therapeutic
activity of ONCOS-102 in melanoma patients resistant to PD-1 checkpoint
inhibitor treatment has been designed, and Circio is seeking external financing
and/or partnerships to continue the clinical development.

Circio's second clinical stage program is an immunotherapy targeting KRAS driver
mutations. TG01 has previously shown robust immune responses and encouraging
clinical benefit in surgically resected pancreatic cancer and is currently being
tested in two clinical trials in RAS-mutated pancreatic cancer and multiple
myeloma in the USA and Norway. These studies are being run through academic
collaborative networks, supported by prestigious research grants from Innovation
Norway and the Norwegian Research Council, creating broad future optionality for
the TG01 program at low cost to Circio.