OSLO - August 15, 2022: SoftOx Solutions AS ("SoftOx" or the "Company"), a
clinical-stage pharmaceutical and medtech company based in Norway, today
announces its results for the second quarter and first half year of 2022. 

"Over halfway into 2022, I am proud to report on the significant progress made
in our clinical and commercial development, such as demonstrating proof of
concept and identifying the best partners to advance our pipeline," said Geir
Almås, CEO of SoftOx. 

The first half of 2022 has been characterized by increased clinical trials and
regulatory activities. In July, SoftOx announced the positive feedback on it's
European Defence Fund (EDF) application and the award of approximately NOK 97
million to develop a military inhalation solution for the European Union and its
allies. The SoftOx technology and team have been carefully selected by the EU
commission to develop medical countermeasures to certain threats is a testament
the company's to expertise in the field. 

"Moving forward, we remain focused on delivering on our ambitious goals,
advancing the clinical development and finding the right partners for our
projects," Geir Almås concluded.

Operational highlights 
o Through SoftOx Defense Solutions, SoftOx was granted approximately NOK 97
million from the European Defence Fund to develop an inhalation solution for the
armed forces within the EU and its allies. 
o In May, SoftOx announced that the Phase 1 study, SIS-01, which evaluated the
safety and tolerability of the SoftOx Inhalation Solution, had met its primary
objective in healthy subjects (NCT05188638).
o SoftOx submitted a Premarket Notification to obtain clearance by the US Food
and Drug Administration for the SoftOx Wound Irrigation Solution (SWIS) to be
used as a Class II medical device in the US.
o The Norwegian Defence Research Establishment (FFI) 's field experiment in
Hemsedal evaluating non-alcohol disinfectants, including SafeDes+, SoftOx's
alcohol-free hand disinfectant, showed that alcohol-free disinfectants reduced
the level of volatile organic compounds (VOCs) in the air when compared with
alcohol disinfectants.
o In May, SoftOx presented the results of the SWIS-02 study and hosted a
symposium entitled "Future practical solutions for fighting antimicrobial
resistance in wound care" at the European Wound Management Association
conference in Paris.
o The positive results of the SWIS-02 study demonstrating improvement in wound
healing and reduction in bacterial burden compared to Normal Saline were
published in the peer-reviewed journal, Acta Dermato- Venereologica

Financial highlights
(Figures in brackets represent the corresponding period in 2021 unless states
otherwise)
o Pre-tax results amounted to a loss of NOK 20.6 million in the second quarter
(loss of 21,3 million)
o Total operating expenses for the second quarter were NOK 21.5 million (NOK
23.8 million)
o Cash and cash equivalents amounted to NOK 7.4 million at the end of the second
quarter (NOK 31.1 million)
o In June, SoftOx entered into a NOK 15 million loan agreement with Almhaug
Bolig AS, where the main shareholder is one of the shareholders in SoftOx

Presentation details
The results will be released at 07:00 (CET) on Monday, August 15th, 2022 and
presented by the management at 10:00 (CET) at SpareBank 1 Markets, Olav V's gate
5, Norway. 

The presentation is open to the public and can also be followed via the link:
https://channel.royalcast.com/landingpage/hegnarmedia/20220815_2/ 

The presentation will be held in English and followed by a Q&A session. 

Please register for the event before August 15th, at 08:00 (CET), by sending
your registration to corporateaccess@sb1markets.no

For any questions or interview requests, please contact: 
Geir Almås, CEO of SoftOx Solutions AS
Kristine Rød, CFO at SoftOx Solutions AS 
Mail: ir@soft-ox.com Phone: 
Front Desk: (+47) 948-59-599 

About SoftOx Solutions AS 
SoftOx Solutions AS (SoftOx, listed on Euronext Growth Oslo) is a Norwegian
medtech/biotech company based in Oslo with the aim of helping to combat major
threats to human health, namely the emergence of antimicrobial resistance (AMR),
biofilm infections in chronic wounds and the spread of viruses. For more
information on SoftOx, visit www.soft-ox.com