PIR IV INVEST AS ("PIR IV"), an early stage investment SPV and major shareholder
in Arctic Bioscience AS ("Arctic Bioscience"), today announced the planned
dissolvement of the SPV. As a consequence, its shares in Artic Bioscience will
be re-allocated to the SPV's individual investors. PIR IV holds 2,188,250
million shares in Arctic Bioscience, corresponding to 9.0% of total shares
outstanding.

In connection with the IPO of Arctic Bioscience, PIR IV entered into a customary
lock-up agreement to remain in force to and including 365 calendar days after
the date of admission to trading on Euronext Growth Oslo. The obligations under
the lock-up agreement will in connection with the distribution be transferred to
each of the fund investors.



PIR IV is a regional early stage investment fund, investing in local growth
companies with international commercialization and expansion potential. Among
the fund investors are two companies that are represented in the board of
directors of Arctic Bioscience, Ronja Capital II and Ajea Invest AS.

Ronja Capital II holds a 12.8% share in PIR IV and will be allocated 279,795
shares in Arctic Bioscience in connection with the dissolvement of PIR IV. Ronja
Capital II is a wholly owned subsidiary of Ronja Capital AS. Following the
transaction, companies controlled by Ronja Capital AS and close associates holds
2,104,166 shares in Arctic Bioscience, corresponding to 8.7% of total shares
outstanding. Tore Tønseth, board member and primary insider in Arctic Bioscience
is investment director in Ronja Capital AS.

Ajea Invest AS, a company controlled by board member Asbjørn Solevågseide, also
holds a 12.8% share in PIR IV, and will be allocated 279,795 shares in Arctic
Bioscience in connection with the dissolvement of PIR IV. Following the
transaction companies controlled by Asbjørn Solevågseide holds 555,359 shares in
Arctic Bioscience, corresponding to 2.3% of the total shares outstanding.
Solevågseide is also chairman of the board in PIR IV.

"The dissolvement of PIR IV is according to strategy and mandate, and we want to
express our continued strong commitment to support Arctic Bioscience through the
development stages of the company's pharmaceutical program over the coming
years. With its drug candidate for mild-to-moderate psoriasis currently in phase
IIb development, the company is uniquely positioned to take a significant share
of this multi-billion dollar global market and improve quality of life for the
20 million patients with this disease.  Furthermore, we believe there is strong
growth potential in the company's Romega product," says Solevågseide,
representing PIR IV.

Please see the enclosed form for further information about the transaction.

For more information, please contact

Asbjørn Solevågseide

Phone: +47 900 18 222E-mail: aso@ajea.no

About Arctic Bioscience

Arctic Bioscience is a biotech company developing pharmaceutical and
nutraceutical products based on the unique properties of herring roe oil,
composed of complex bioactive marine compounds, including lipids essential to
maintaining cell membranes. The nutraceutical products contain lipids which
contribute to the normal functioning of brain, heart and vision.

The company is developing a novel drug candidate (HRO350) for mild-to-moderate
psoriasis, a large global patient population where there is substantial need for
effective, convenient and cost-effective new medicines with beneficial safety
profiles. Nutraceuticals from Arctic Bioscience are sold worldwide as bulk
ingredients to other companies making dietary supplements (B2B) and as finished
goods under the ROMEGAT brand (B2C), with significant expansion potential all
channels and regions.

To support its long-term growth strategy, Arctic Bioscience is planning a state
-of-the-art manufacturing facility in Ørsta. Easy access to the raw material and
proprietary production processes will increase control of the value chain,
improve margins and enable large-scale, high-quality manufacturing.

Arctic Bioscience is led by a highly competent team with significant expertise
developing marine oils and extensive experience from some of the world's leading
pharmaceutical, technology and financial services companies.

This information is subject to the disclosure requirements in EU Market Abuse
Regulations (MAR) 596/2014 article 19 number 3 and the Norwegian Securities
Trading Act § 5-12.