Hofseth Biocare ASA: USD 5 Million Divestment in Aecorbio

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(Ålesund, 24 October 2025) Reference is made to the stock exchange notices published by Hofseth BioCare ASA ("HBC" or the "Company") earlier today regarding the launch of a private placement in the amount of between NOK 155m and NOK 181m and the partial divestment of shares in its U.S. subsidiary AecorBio Inc. ("AecorBio").

In conjunction with the Private Placement, the Company has resolved to divest 1,616,498 shares in AecorBio for approx. USD 5 million at a price per share of USD 3.0931, corresponding to a valuation uptick of around 20% compared to the latest funding round in AecorBio. HBC will after the divestment own approx. 52% of AecorBio.

This transaction values AecorBio at $36m, a 20% premium to the post-money valuation of $30m after the recent $1.5m equity financing round by AecorBio (Sept 2025). AecorBio Inc’s lead peptide candidate FT-002a is in preclinical development in advanced prostate cancer. An Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) is targeted for 2026 and will represent a critical milestone, paving the way for FT-002a to transition into clinical development. Unlike conventional treatments, FT-002a directly resets tumor iron metabolism to make the tumor more vulnerable to standard of care therapy and thereby enhancing treatment anti-cancer effectiveness.

The current addressable market for resistant prostate cancer is in excess of $2.5 bn annually and the total ARPI market is in excess of $10bn a year and continues to show sustained, strong annual growth.
Compelling preclinical data supports the modulation of tumor iron metabolism. In animal models of resistant prostate cancer, FT-002a orally delivered in a proprietary formulation achieved an 80% reduction in tumor volume when co-administered with the current standard of care, the ARPI enzalutamide (Pfizer), compared to enzalutamide alone. In hormone sensitive advanced prostate cancer an even higher anti-tumor activity was noted with up to 97% reduction in tumor volume.

Beyond FT-002a in prostate cancer, AecorBio has filed a robust global intellectual property portfolio and is leveraging its proprietary peptide discovery platform to advance three additional preclinical programs in other oncology and immunology indications. Together, these assets establish a multi-asset pipeline and a strong foundation for future strategic partnerships with major pharmaceutical companies.

Advisor

Advokatfirmaet CLP DA is acting as legal advisor to the Company.

For further information, please contact:

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

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