BerGenBio ASA: Update on Strategic Review Process and Status of Activities
Bergen, 3 June 2025 – Reference is made to previous stock exchange announcements from BerGenBio ASA ("BerGenBio" or the "Company") dated 25 February 2025 and 17 March 2025 regarding the Company's ongoing strategic review process.
Strategic review process is ongoing
With reference to the announcement 17 March 2025, engaging DNB Carnegie as financial advisor for the strategic review process, the process remains ongoing. As previously communicated, the Board of Directors will, as part of this process, consider a range of options for the Company, including, among other things, a potential sale, merger, or other strategic transaction. There can be no assurance that this review will result in any transaction. The Company will announce further updates when appropriate and expects to conclude the process by the end of July.
Closedown of remaining bemcentinib activities
The Board of Directors has decided to discontinue all remaining development activities for bemcentinib as there are limited financial justification to pursue further activities.
Estimated free cash after closure of activities
The Company has implemented significant cost-containment and cash conservation measures. Free cash after closure of all activities and settlement of any potential liabilities is estimated to be in the range of NOK 40 – 45 million.
Contacts
Olav Hellebø, CEO BerGenBio ASA
ir@bergenbio.com
Rune Skeie, CFO, BerGenBio ASA
rune.skeie@bergenbio.com
Jan Lilleby, Investor Relations / Media Relations
jl@lillebyfrisch.no
Forward looking statements
This announcement may contain forward-looking statements, which as such are not historical facts, but are based upon various assumptions, many of which are based, in turn, upon further assumptions. These assumptions are inherently subject to significant known and unknown risks, uncertainties, and other important factors. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this announcement by such forward-looking statements.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.