OSLO - October 26, 2022: SoftOx Solutions AS ("SoftOx" or the "Company"), a
medtech and clinical-stage pharmaceutical company based in Oslo, Norway, today
announces its results for the third quarter of 2022. 

"In the third quarter of 2022, SoftOx achieved two major milestones: the
selection of our technology by the European Defence Fund (EDF) to develop
countermeasures against CBRN threats and the end of the Phase 1 study evaluating
the safety and tolerability of the SoftOx Biofilm Eradicator. Both
accomplishments were years in the making and represent the persistence,
expertise and commitment of the SoftOx team."

"The company is in an opportune position to initiate and continue talks with
European and international market players. We are now focused on ending the year
with successful clinical results and continue exploring opportunities to develop
our exciting platform technology," said Geir Almås, Chief Executive Officer of
SoftOx Solutions. 

Operational highlights 
o SoftOx announced the early completion of the Phase 1 SBE-01 trial, with
positive results of the SoftOx Biofilm Eradicator (SBE) in treating chronic
wounds. SBE was demonstrated to be safe and well tolerated as well as reducing
the bacterial burden and improving wound healing in chronic leg wounds. 
o SoftOx received final approval on biocidal products application for hand and
surface disinfection from the Swedish Chemicals Agency (KemI). This approval
allows SoftOx to sell its disinfection products in Sweden.
o The SoftOx technology, through its subsidiary SoftOx Defense Solutions (SDS),
was granted NOK 97 million from the European Defence Fund to develop a military
inhalation solution for the EU and its allies as part of a pan-European
consortium. 
o SDS's leadership team was strengthened with the addition of Jørgen Berggrav as
Senior Advisor and Johan Christian Harstad as Project Director.  

Financial highlights
(Figures in brackets represent the corresponding period in 2021 unless states
otherwise)
o Q3 pre-tax results ended with a loss of NOK 23,7 million (loss of 22 million).
Results are characterized by high levels of activity in research and
development.
o Total operating expenses for the third quarter were NOK 25.3 million (NOK 23,4
million)
o Cash and cash equivalents amounted to NOK 3.2 million at the end of the second
quarter (NOK 16.6 million)
o In October, SoftOx secured a convertible loan from existing shareholders for
NOK 25 million and refinanced the NOK 15 million convertible loan as reported on
28 June 2022.


Presentation details
The results will be presented by the management via webcast at 09:00 (CET). 

To register for the presentation, click the following link:

https://teams.microsoft.com/registration/GPWsOGT7vUCuf-It04UbWQ,oEPfirp3r0GbFmWN
BzTZNg,ebnx2uZTkE2EPvewJm782g,A7wyP47zO0yXrzMTR20aXA,QniapSBGZ0urCimjTSRqIw,ziH9
X8hk9U2QqA8bEDZFxg?mode=read&tenantId=38acf518-fb64-40bd-ae7f-e22dd3851b59 

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

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 medtech and
clinical-stage pharmaceutical company based in Oslo, Norway, with the goal of
reducing the spread of infection and emergence of antimicrobial resistance. For
more information on SoftOx, visit www.soft-ox.com