0Q6H Hofseth Biocare Asa

Hofseth Biocare ASA: ADVANCING THE TREATMENT OF PROSTATE CANCER WITH PUBLICATION OF FTH1 RESEARCH ABSTRACT AHEAD OF THE AMERICAN SOCIETY OF CLINICAL ONCOLOGY (ASCO) MEETING

HBC is pleased to announce the online publication of its abstract titled “Antiproliferative activity of marine-derived oligopeptides combined with androgen receptor inhibition in preclinical cancer models” (Journal of Clinical Oncology 41, 2023, supplement 16; abstract # e15186) ahead of the annual ASCO meeting in Chicago, June 2-5, 2023.

ASCO is the largest oncology organisation worldwide and the annual meeting attracts over 40,000 attendees, mainly healthcare professionals, researchers and research organisations as well as finance professionals and the press. ASCO therefore helps the dissemination of new research to help support learning for oncology professionals, supports cancer research and ultimately the advancement of patient treatment and care.

This work by HBC represents the final phase of invitro research which has identified the lead peptide candidates, FT-002 and FT-005, for organoid and in vivo prostate cancer research in combination with standard of care therapy, planned to commence during H2 2023.

Prostate cancer remains the most commonly diagnosed cancer in men. Whilst most cases do not shorten life expectancy, advanced prostate cancer remains largely incurable. Hormone therapy remains the cornerstone of treatment however eventually tumours find ways of overcoming treatment and start to grow and spread. One important route of tumour escape is via hijacking cellular iron metabolism. In preclinical models, including those published in the ASCO abstract, FT-002 and FT-005 have shown a consistent ability to modulate iron metabolism within tumour cells to both enhance tumour cell sensitivity to standard of care hormone therapy as well as reversing resistance to standard hormone therapy.

Dr. Bomi Framroze, HBC CSO, said: "The ability of cancer to hack the iron metabolism pathways is becoming increasingly recognised as an important driver of tumour growth and spread, and a means by which cancers can overcome the effects of treatment. Our lead peptide candidates, FT-002 and FT-005, hold an exciting potential to enhance the effectiveness of cancer therapy to improve the health and wellness of cancer patients."

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

Jon Olav Ødegård, CEO at HBC Phone: +47 936 32 966 E-mail: joo@hofsethbiocare.no

About HBC: HBC is a Norwegian consumer and pet health ingredient supplier and an incubator for new pharmaceutical drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies ongoing in multiple clinics and university research labs. Lead clinical and pre-clinical candidates are focused on developing an oral treatment for inflammatory disease driven by eosinophils (a type of white blood cell). Clinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as in COVID. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using a special formula of soluble protein hydrolysate (SPH also known as ProGo®) as a Medical Food to help treat IBD, and for Iron Deficiency Anemia.

The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of the lipids, proteins and calcium from fresh salmon off-cuts. HBC's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Ningbo, New Jersey and Palo Alto.

HBC is listed on Oslo Børs with ticker "HBC". More information about HBC at hofsethbiocare.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act.