Arctic Bioscience AS announced that the phase IIb HeROPA clinical trial approved in all the five European countries where the trial will be conducted more than two-thirds of the planned clinical trial sites (clinics) in the five countries activated Future opportunities in the microalgae segment through the acquisition of Arctic Algae AS. Approval of the HeROPA clinical trial by Medicines Authorities in five European countries demonstrates international endorsement and the high quality of drug development plan. This has considerably reduced the implementation risk for pharmaceutical development program.

Update on the HeROPA clinical trial - a phase IIb clinical trial for mild-to-moderate psoriasis: Until now, forty clinics are active in the five countries participating in the HeROPA clinical trial. The first patient was included end of January 2023 in UK. Recruitment is competitive between clinics and will be complete when 519 patients are included.

More clinics are being activated on an ongoing basis. Clinical Trial Application (CTA) processes and some aspects of global logistical operations have taken longer than expected. Arctic Bioscience have implemented additional measures to ensure timely recruitment of patients.

More clinics have shown interest in joining the trial, and these are being enlisted for participation. The clinics are using their patient lists for recruitment, and the larger sites in central European countries have thousands of patients with psoriasis who may be eligible for inclusion. Recruitment is expected to proceed at speed throughout summer and into the fall.

Update on sustainable marine nutraceutical supplement business: The nutraceutical business had a positive development in sales volume in the quarter compared to the first quarter of last year. Several new B2B customers with strong brands in their respective markets have launched products with ROMEGA®? in USA and Europe.