HBC Immunology Inc. (70.6% owned by Hofseth BioCare ASA) reports today the successful completion of the first in vivo study within its prostate cancer development program. The study assessed whether the combination of targeted hormonal therapy, bicalutamide, and FT-002 or FT-005 was better at suppressing PC3 tumour growth compared to control (no treatment). PC3 represents a model of very aggressive prostate cancer which is resistant to standard treatment.

The FT peptides are HBCI’s two leading drug candidates, and both slowed tumour growth. By the end of the study mean tumour volumes were significantly smaller with FT-005 treatment (p<0.05) compared to control but the effect of FT-002 did not reach significance. Bicalutamide alone had a minimal impact on tumour growth.

This result indicates that by effectively targeting tumour iron metabolism the FT peptides can re-sensitised cancer to standard cancer therapy with the potential to deliver much longer periods of tumour control.

For further information, please contact:

Dr. Crawford Currie,
Head of Medical R&D at Hofseth BioCare ASA
Tel: +44 7968 195 497
E-mail: cc@hofsethbiocare.no

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Jon Olav Ødegård, CEO of Hofseth BioCare ASA, at the date and time as set out above