NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY
OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL THIS
ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED
HEREIN.

Oslo, 25 October 2023

Reference is made to the stock exchange notice published by Nykode Therapeutics
ASA ("Nykode" or the "Company", ticker code "NYKD") regarding the successful
placing of a private placement of new shares in the Company (the "Private
Placement") and the announcement included therein of the intention to launch a
subsequent offering of shares directed towards shareholders in the Company as of
25 October 2023, as registered in VPS on 26 October 2023, who (i) were not
allocated Offer Shares in the Private Placement, and (ii) are not resident in a
jurisdiction where such offering would be unlawful, or would (in jurisdictions
other than Norway) require any prospectus filing, registration or similar action
(the "Subsequent Offering").

Please see below for key information regarding the Subsequent Offering:
 
Date of announcement of terms: 25 October 2023
Last trading day including right to receive subscription rights: 24 October 2023
First trading day excluding right to receive subscription rights: 25 October
2023
Record date: 26 October 2023
Maximum number of new shares: 5,000,000
Subscription price: NOK 17.10
Will the subscription rights be listed: No

For further information, please contact:

Harald Gurvin, CFO
Tel: +47 975 20 363, Email: hgurvin@nykode.com 



IMPORTANT NOTICE
This announcement is not for publication or distribution in, directly or
indirectly, Australia, Canada, Japan, Hong Kong, South Africa or the United
States or any other jurisdiction in which such release, publication or
distribution would be unlawful, and it does not constitute an offer or 
invitation to subscribe for or purchase any securities in such countries or in
any other jurisdiction where to do so might constitute a violation of the local
securities laws or regulations of such jurisdiction.

The Offer Shares have not been and will not be registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities Act") or with any
securities regulatory authority of any state or other jurisdiction of the United
States and may not be offered, sold or transferred, directly or indirectly, in
or into the United States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the U.S. Securities
Act and in compliance with any applicable securities laws of any state or other
jurisdiction of the United States. The Offer Shares are being offered and sold
(i) inside the United States to persons reasonably believe to be "qualified
institutional buyers" as defined in Rule 144A of the U.S. Securities Act and
(ii) outside the United States in accordance with Regulation S under the U.S.
Securities Act.

In any EEA Member State, this announcement is only addressed to and is only
directed at qualified investors in that Member State within the meaning of
Article 2(e) of the Prospectus Regulation, i.e., only to investors who can
receive the offer without an approved prospectus in such EEA Member State. The
expression "Prospectus Regulation" means Regulation (EU) 2017/1129 (together
with any applicable implementing measures in any Member State).

In the United Kingdom, this announcement is only addressed to and is only
directed at persons who are qualified investors who are "qualified investors"
within the meaning of Article 2(e) of the UK version of Regulation (EU)
2017/1129 as it forms part of UK law by virtue of the European Union
(Withdrawal) Act 2018 and who (i) are investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so.

The Managers are acting exclusively for the Company in connection with the
Private Placement and no one else and will not be responsible to anyone other
than the Company for providing the protections afforded to their respective
clients or for providing advice in relation to the Private Placement or any
transaction or arrangement referred to in this announcement.

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and forward-looking
statements contained in this announcement speak only as at its date and are
subject to change without notice. This announcement is made by and is the
responsibility of, the Company. Neither the Managers nor any of their respective
affiliates makes any representation as to the accuracy or completeness of this
announcement and none of them accepts any responsibility for the contents of
this announcement or any matters referred to herein and each of them expressly
disclaims any obligation or undertaking to update, review or revise any
forward-looking statement contained in this announcement whether as a result of
new information, future developments or otherwise.

This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.