Against the backdrop of a continued challenging financing environment, the Board of Directors of Biosergen AB (OMX: BIOSGN) has today resolved to pause the development of BSG005. As disclosed in previous quarterly reports, the manufacture of new drug substance has resulted in delays in the development of Biosergen's product candidate BSG005. The year-end report published on 10 February 2026 stated that the company's financial position needs to be strengthened in order to ensure continued operations. Despite extensive efforts, the company has not been able to secure the capital required to finance the continued development program. The previously disclosed manufacturing delays have contributed to extended timelines; however, the decision is primarily based on the prevailing financing environment. The Board of Directors is exploring the possibilities of a sale of the BSG005 asset, reverse takeover or merger. If none of these options can be carried out on sufficiently attractive terms, a voluntary liquidation of the company is being considered.

The Board of Directors, together with the company's institutional major shareholders and financial advisors, has assessed the situation and concluded that the conditions for a successful financing process that would meaningfully contribute to the further development of BSG005 are not in place today. To advance the project to the next phase, an estimated capital injection of approximately SEK 60 million (net of transaction costs) would be required, which the Board do not consider feasible to secure in the current market. The Board has therefore decided to pause the development of BSG005.

It is important to emphasize that the development program for BSG005 has demonstrated promising data and has not encountered any setbacks in clinical development. On the contrary, the treatment has shown excellent results in patients who have not tolerated or have developed resistance to current standard-of-care therapies. Biosergen's objective has been to develop BSG005 into a new first-line treatment for resistant fungal strains and life-threatening fungal infections.

"It is with a heavy heart that we announce the decision to pause the development of BSG005. Many of us have been driven by the ambition to bring a new treatment to market addressing a significant unmet medical need in difficult-to-treat fungal diseases," says Tine Olesen, CEO of Biosergen.

The Board has evaluated various strategic alternatives to best safeguard shareholder interests in the present situation. The conclusion is that Biosergen will primarily seek a divestment of the BSG005 asset, a reverse takeover or a legal merger with another company. Such a transaction requires approval by Biosergen's general meeting. Should none of these alternatives be achievable on sufficiently attractive terms, a voluntary liquidation of the company remains an option.

"The Board and management will now work expeditiously to identify the best possible solution for our shareholders and present a proposal for shareholder approval," says Anna Ljung, Chair of the Board of Biosergen.

About this information

Biosergen is releasing this information in accordance with the EU's Market Abuse Regulation (MAR). The information was released for public distribution through the contact named below at 9:00 p.m. CEST on April 4th, 2026.

For additional information, please contact:

Tine Kold Olesen, CEO Telephone: +45 3135 5707, e-mail: tine.olesen@biosergen.net

Mark Beveridge, CFO Telephone: +46 76 805 8288, email: mark.beveridge@biosergen.net

The company's Certified Advisor is DNB Carnegie Investment Bank AB (publ).

About Biosergen

Biosergen is a biotechnology company in the clinical stage within the therapeutic field of life-threatening fungal diseases. Biosergen' s mission is to develop the drug candidate BSG005, into a new first line treatment choice for resistant and/or difficult to treat invasive fungal infections, to save thousands of lives of immune-compromised cancer- transplant- and AIDS patients every year.