Hofseth Biocare ASA: HBC ONBOARDS EX-NOVARTIS AND EX-PFIZER SENIOR REGULATORY AFFAIRS PROFESSIONAL, DR ZUBAIR HUSSAIN

HBC is delighted to announce the appointment of Dr Zubair Hussain as Senior Regulatory Consultant from September 2021. Dr Hussain has over 25 years’ experience in Regulatory Affairs and has held senior global roles in big pharma, including at Pfizer and Novartis, as well as garnering mid-cap pharma experience at Ipsen. He managed teams of several hundred regulatory professionals spanning consumer health, animal health and pharmaceuticals. Hence, he has an excellent skill set for HBC Consumer Health Division, HBC Ingredients as well as supporting R&D trial planning.

Dr Hussain has significant experience working with the FDA and EMA (European Medicines Agency) throughout the development process and subsequent lifecycle management. One of his first actions with HBC has been to apply and gain approval of SME (small and medium enterprise) status at the EMA for HBC. This will enable HBC to seek scientific advice from the EMA and gain SME benefits during development activities. Dr Hussain is also working on expanding the claims for HBC’s products by leveraging existing clinical data.

HBC currently has unique structure function claims from the US FDA and qualified health claims from Health Canada for ProGo focused on benefits such as the maintenance ferritin & haemoglobin, energy, gut inflammation, and iron absorption rates. Notwithstanding this, and very encouragingly, there are strong reasons to believe there several new (and unique) claims that can be made for ProGo. Furthermore, HBC believes that a number of new claims can be made for CalGo (also known as Calcium Collagen Complex) and OmeGo (Salmon Oil), utilising existing data. For this reason, Dr Hussain will bring invaluable experience to help commercialise the existing offering swiftly to market. It has always been the company’s belief that producing natural products from fresh sashimi grade salmon would bring important health benefits to the consumer. There is no better way to highlight this than through validated health claims.

Dr Zubair Hussain says: “I am delighted to contribute to the journey in taking HBC to the next level, particularly as we accelerate to commercialise and shift from commoditised animal feed markets, towards much higher value human and pet supplement markets. I believe the addition of strategic regulatory leadership will help maximise HBC's commercial potential."

For further information, please contact:

Dr. Crawford Currie, Head of Medical R&D at Hofseth BioCare ASA
Phone: +44 7968 195497
E-mail: cc@hofsethbiocare.no

James Berger, CCO at Hofseth BioCare ASA
Phone: +41 79 950 1034
E-mail: jb@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smoker's lung") as well as clinical work in COVID.

The company is founded on the core values of sustainability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts.

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo. HBC is listed on Oslo Stock Exchange with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act