Our subsidiary, ArcticZymes AS, has received a grant of MNOK 7.2 from the Research Council of Norway for a project with the title
"Development of new marine enzymes for research and diagnostics". The total project budget is 14.4 MNOK over 3 years.

The project is a user-driven innovation project in the FUGE-program aiming to establish a stronger product development platform for the development of new
enzymes for use in molecular biology applications.

ArcticZymes develops, produces and sells enzymes used in molecular DNA technologies and diagnostics. The market is highly expansive, and the rapid and
diversifying technological development creates a strong market demand for new and improved enzymes.

ArcticZymes is involved as commercial partner in several marine bioprospecting activities that form a large source and pipeline for new commercial enzymes from
the Arctic marine environment, including being a commercial partner of the Sfi MabCent consortium and the MARZymes projects at the University of Tromsø.

The strengthened pipeline of product candidates through strategic partnerships with MabCent, MARZymes and others makes it necessary to increase product
development speed and capacity. The partnership with The University of Tromsø in this project will strengthen the entire product development chain and increase
capacity from early stage to final product.