SoftOx : Presentation as of December 15. 2020

SoftOx Solutions AS

A Norwegian MedTech Company listed on Euronext Growth,

Presentation Q3 2020

Disclaimer

This Presentation has been produced by SoftOx Solutions AS (the "Company" or "SoftOx"), solely for use at the presentation to investors held in connection with the proposed private placement of shares by the Company. This presentation is strictly confidential and may not be reproduced or redistributed, in whole or in part, to any other person. To the best of the knowledge of the Company and its Board of Directors, the information contained in this Presentation is in all material respect in accordance with the facts as of the date hereof, and contains no material omissions likely to affect its import. However, no representation or warranty (express or implied) is made as to, and no reliance should be placed on, any information, including projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, arising directly or indirectly from the use of this Presentation. This Presentation contains information obtained from third parties. Such information has been accurately reproduced and no facts have been omitted that would render the reproduced information to be inaccurate or misleading, as far as the Company is aware and able to ascertain from the information published by these third parties. This document contains certain forward-looking statements relating to the business, financial performance and results of the Company and/or the industry in which it operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources, are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. The Company does not provide any assurance that the assumptions underlying such forward-looking statements are free from errors, nor does the Company accept any responsibility for the future accuracy of the opinions expressed in this Presentation or the actual occurrence of the forecasted developments. The Company does not assume any obligation, except as required by law, to update any forward-looking statements or to conform these forward-looking statements to our actual results.

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IN RELATION TO THE UNITED STATES AND U.S. PERSONS, THIS PRESENTATION IS STRICTLY CONFIDENTIAL AND IS BEING FURNISHED SOLELY IN RELIANCE ON APPLICABLE EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED. THE SHARES HAVE NOT AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES, OR TO OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, UNLESS AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT IS AVAILABLE. ACCORDINGLY, ANY OFFER OR SALE OF SHARES WILL ONLY BE OFFERED OR SOLD (I) WITHIN THE UNITED STATES, OR TO OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS, ONLY TO QUALIFIED INSTITUTIONAL BUYERS ("QIBs") IN PRIVATE PLACEMENT TRANSACTIONS NOT INVOLVING A PUBLIC OFFERING AND (II) OUTSIDE THE UNITED STATES IN OFFSHORE TRANSACTIONS IN ACCORDANCE WITH REGULATIONS. ANY PURCHASER OF SHARES IN THE UNITED STATES, OR TO OR FOR THE ACCOUNT OF U.S. PERSONS, WILL BE DEEMED TO HAVE MADE CERTAIN REPRESENTATIONS AND ACKNOWLEDGEMENTS, INCLUDING WITHOUT LIMITATION THAT THE PURCHASER IS A QIB.

This Presentation speaks as of December 2020. Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date.

2

Highlights Q3 2020, including selected information for Q4

Finance

RnD

Awards

• Year to date pre-tax results ended 30.9.2020 with a loss of NOK 29 million (loss of NOK 15 million). Results are characterised by high levels of activity in research and development in addition to preparatory work ahead of the launch of our disinfectants in new markets
• Clinical study of the SoftOx Wound Irrigation Solution (SWIS) was approved and has commenced
• The Danish Medicines Agency recommended further development of the SoftOx Inhalation Solution (SIS) for the treatment of respiratory infections, including COVID-19
• The US Department of Defence (DoD) awarded SoftOx app. USD 2 million for the research and development of the SoftOx Biofilm Eradicator (SBE)
• SoftOx has been awarded conditional certification of its disinfectants in the EU. The Swedish Chemicals Agency has processed and recommended SoftOx Solutions' disinfectants, including AntiVir, for certification.

3

Financial highlights

Operating revenue, increase driven by sale of disinfection products and public grants

Operating expenses, increase

driven by

- Increased production capacity - Research and development

- Cost of goods sold

4

Financial highlights

Net change in cash and cash equivalents

- Approx. NOK 11 mill due to repayment of short-term loans

- Approx. NOK 8 mill in increased production facilities

5

SoftOx at a Glance

Eradicating

infections and

fighting

resistance

Strong

patented product portfolio

Strong

international research and market support

Targeting large

markets

• A strong medical technology platform developed over 10+ years
• The medical products being developed on this platform will effectively eradicate bacteria and viruses without creating resistance unlike existing antibiotics
• A non-alcoholic, exceptionally efficient hand disinfectant
• Biofilm Eradicator (SBE) and Wound Irrigation Solution (SWIS)
• Inhalation solution for respiratory tract infections (SIS)
• Strong development and research support from Bispebjerg Hospital and Copenhagen University
• US Navy Medical Research Centre sponsoring the development of the SBE
• Blue Cross/Blue Shield recommendation of the SBE product
• The largest market opportunities for SoftOx are in the professional health sectors worldwide
• All markets targeted by SoftOx are billion $ opportunities
• Currently in dialogue with leading players in some of the world´s largest markets

6

Contents

• New Ways of Eradicating Infections

• Product Portfolio

• Hand Disinfectant

• Wound Care Products

• Respiratory Tract Solutions

• Summary

7

Global Challenges Targeted by SoftOx

Antibiotic resistance

• The ability of bacteria and other microorganisms to resist the effects of an antibiotic to which they were once sensitive
• • WHO estimates that drug-resistant diseases could cause 10 million deaths each year by 2050 [1
  • The world needs a new antibiotic preventing and removing resistant infections without inducing new resistance

Biofilm resistance

• Aggregated bacteria often covered by slime (biofilm matrix), which acts as a fortress and protects bacteria
• • 1 to 2 percent of the total population are projected to experience a chronic wound during their lifetime in developed countries [2
  • The world needs a new antibiotic preventing and removing infections protected by a biofilm

Virus

• A submicroscopic infectious agent that replicates only inside the living cells of an organism [3
• 1. • The COVID-19 pandemic will likely end up costing between $8.1 and $15.8 trillion globally [4
     • The world needs a broad spectrum, first-line alternative to vaccines
  2. https://www.who.int/antimicrobial-resistance/interagency-coordination-group/IACG_final_report_EN.pdf?ua=1
  3. Chandan K. Sen, PhD, Wound Repair Regen, https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2810192/

• 3)Wu, Katherine J. National Geographic Society. April 2020 4) Schwab, World Economic Forum, August 2020

SoftOx - A Technology Product Platform Eradicating Infections

Over the past 10 years, SoftOx has developed and	Unrivalled Effect on Bacteria in Biofilms
demonstrated our competitive advantage by:
9

• Securing a unique chemical stability between two of the body's own antimicrobial agents
• Generating unique antimicrobial effects against all known groups of microbes
• Tweaking the concentrations between the two antimicrobials to develop a broad range of products, satisfying different medical needs
• Does not induce antimicrobial resistance
• Developing a solution that is non-toxic at effective concentrations
• Creating an easily scalable production method

LOG10 REDUCTION CFU/ML

8

7

6

5

4

3

2

1

0

Effect on

Staphylococcus aureus Biofilm

3 hours (1 application) (3+3) hours (2 applications)

New ways of eradicating infections and fighting antimicrobial resistance

9

Antibiotics are Struggling with Resistant Microbes

Platform products under development

• Wound irrigation solutions for acute wounds (SWIS)
• • Topical infection prevention
• Infections remover in chronic wounds (SBE)
• • Topical infection remover
• Inhalation solution (SIS)
• • Topical infection remover in the respiratory tract
• Hand disinfection
• • Topical infection prevention for non-compromised skin

Respiratory virucidal infections*

Acute surgical wounds*

Hand eczema*

Venous leg ulcers*

SoftOx is replacing today's antibiotics to become the first line of treatment

* Development projects already started

10

Contents

• New Ways of Eradicating Infections

• The Product Portfolio

• Wound Care Products

• Respiratory Tract Solutions

• Production and Distribution

• Summary

11

SoftOx Product Development Methodology*

Concept development		Preclinical PoC		PoC in humans		Regulatory approval and market adoption

	In vitro and	Pilot and		Post market or
Excite International	confirmative or	Partners for	Full market
Randomized
University of Copenhagen	Animal studies	Clinical trial	market adoption
clinical trial	adoption
		phase I/II
Early Technology review	Dose finding	Proof of concept	Partnerships	Confirmative study

SoftOx Disinfection Program (Antivir)

SWIS (SoftOx Wound Irrigation)

SBE (SoftOx Biofilm Eradicator)

SIS (SoftOx Inhalation Solution)

12

* There are minor differences in the development stages between the products, for details, see each product description later in the presentation

Actual clinical development progress versus estimates Dec-2019

StudyObjectives

Animal (minipigs); MAX	RTC: Local tolerance, systemic effects and pathology in minipigs after
repeated dosing (continuously for 28 days) with increasing SOX-strengths.
dose; wound healing
Aiming to achieve maximal tolerable dose.

Cost	Expectations December 2019	Status 2020
(NOK)
4m	Q2-3 2020	Completed

Biocide (SafeDes) Skin	Clinical testing of SafeDes hand disinfectant on healthy and experimentally			Completed
induced eczema with respect to skin barrier functions. Comparison with	1.5m	Q3-2020
Tolerability
alcohol-based products.
Clinical Study Medical	Pivotal, confirmatory, comparative trial in subjects with superficial (blister) and			On schedule
full depth (biopsy) wounds to demonstrate safety and performance, with focus	10m	Late 2020
Device (SWIS-02)
on wound healing. n = est. 40 (tbd).
	To test drug candidates in relevant patient population (infected chronic			Slightly delayed
Phase I drug study	wounds), dose escalation, safety and efficacy measures. n = est. 30 (tbd).	25m	TBD, 2021

Clinical Study (phase I) under development.

13	SOX: SoftOx test solutions

On track on most projects

1
Hand Disinfection	In vitro/EN studies	Preclinical/EN	PoC/Pilot	Confirmative	Application market	Post market
		studies	studies	approval	studies
	SafeDes			N/A			TBD
2	Animals
	Infection prevention				1H2020	N/A
	Infection treatment			1H2020		N/A	2H2020

		Device & Drug
3	SWIS			2020
4	SBE	1H2020	2020/2021	TBD

5 sis

14

• Blue arrow represent expectations 2019

• Green arrow represent actual 2020

Probability of Success for Developing Medical Drugs

Key points in SoftOx development	Probabilities by disease
• Topical usage moderate the risk factors	30%
• Active substances are well known in the human body
25%
• Solid clinical experience for each of the active substances	20%
15%
• In vitro studies show clear combination effect
• Clinical trial showed antimicrobial effect on low dose	10%
5%
• Preclinical and clinical trials showed no safety concerns
0%

SoftOx is developing products within an area that has one of the highest probabilities

of success from Phase I to Approval

15 *Clinical Development Success Rates, 2006-2015, June 2016. Biotechnology Innovation Organization, Biomedtracker & Amplion

Collaboration with World-Leading Scientists and Research Organisations

Key research development partners

US Department of Defense (DoD) awarded SoftOx $1.977 million (USD) for research and development of the SoftOx Infection remover (Biofilm Eradicator). NMRC and SoftOx have weekly meetings, monthly reporting, and are active partners in the clinical development

Bispebjerg Hospital - a development site and a major contributor to the SoftOx advisory board.

SoftOx has a close cooperation with University of Copenhagen, University of Oslo and Malmö University. Professor Bjarnsholt from University of Copenhagen is also a member of SoftOx advisory board

Key support partners

EXCITE International is a

global collaboration of key stakeholders. EXCITE and Blue Cross/ Blue Shield recommended SoftOx to MTEC and US Navy

Key financial partners

16

A Strong and Experienced Management and Financial Team

Geir H. Almås - Chief Executive Officer & Founder

• Extensive experience from business development in Norway and Poland
• Previously PwC and KLP Asset Management
• MSc in Business Administration (BI) and Chartered Accountant (NHH)

Dag Abrahamsen - Director Communication

• 20+ years' experience working with Pharma-, Bio Tech- and health sector-related companies and organizations
• Specialist in Market Access, Reimbursement and Business Development within this industry
• Law studies at the University of Bergen, as well as International Business Management and International Business Strategy at the Norwegian Business School

Kristine Mundal Rød - Finance Manager

• 14+ years of experience in financial and non- financial reporting, auditing, forecasting, and strategy
• Previously EY and Fretex Miljø/Salvation Army
• State Authorized Public Accountant and Master of Business Administration in Economics (NHH)

Hans Petter Grette - Director Marketing Sales Norway

• 20+ years' top management experience working with market-leading branded consumer goods companies and within professional B2B industry
• MSc Business Administration (BI), AGSIM (American Graduate School of International Management - Thunderbird), Arizona, USA

Finn Ketler - Director Marketing Sales EU

• 20+ years' experience in Medtech, former SVP at Coloplast (DK, DE), CEO at Vigmed AB (SE), VP at Biotech Pharmacon (NO) and Selection Committee Member at BII a Novo Nordisk Foundation initiative
• Managing Partner and Founder of Coopmed where mission is to ensure more MedTech innovations reach market and help patients by supporting startups commercializing innovations

Elisabeth A. Ohlsen - QA & Regulatory Affairs Manager

• Several years of experience working with pharmaceutical companies and the health care sector
• Expertise of how to operate a Quality Management System, Good Manufacturing Practice, and regulatory standards
• Civil Engineer in Pharmaceutical Design and Engineering from the Technical University of Denmark

17

A Strong and Experienced Research and Development Management Team

Management and research team

Glenn Gundersen - Director of Medical Affairs

• Over 25 years of experience from the pharmaceutical industry with focus on immunology/inflammation and oncology
• Previously Bristol-Myers Squibb Norway, Biotec Pharmacon, Biogen Norway
• PhD in Molecular and Cellular Biology, University of Oslo

Magnus M. Fazli - Director of Science &

Research

• 15 years of experience in biofilm research
• Specializing in chronic wound biofilms, biofilm formation, and antibiotic resistance
• PhD in Medical Microbiology, University of Copenhagen; MSc in Bio-Business and Innovation, Copenhagen Business School

Julia Robertson - Medical Research Manager

• More than 8 years of experience in Pharma- and health sector related companies
• MSc in Medical Biotechnology from the Technical University of Berlin; PhD in Molecular Biology from the University of Oslo

Geir Utigard - Director of CMC

• 20 years of experience in product and production process development, upscaling, operational optimization, analysis of production data, and technology transfer
• Previously Lilleborg AS, Orkla, Axis-Shield AS
• MSc in Chemical Engineering, NTNU

Aina Kristin Pham - Industrial Ph.D Candidate

• The company's formulation scientist and industrial PhD researcher
• Experience from the pharmaceutical field, previously working at the Norwegian Medicinal Agency and as a pharmacist for Apotek1 Gruppen AS
• Master of Pharmacy from the University of Oslo

Hanne Grøgaard - Scientist, CMC

• Several years of experience in research, marketing documentation, analytical chemistry, product and process development for supplements and drugs
• Worked in start-ups and contributed to build laboratories, systems, routines, methods and production processes.
• MSc in Biotechnology, NTNU

Scientific advisory board

Klaus Kirketerp-Møller - Principal Investigator

• Since 2007, mainly focused on research on chronic wounds and bacterial biofilms
• Co-inventorof the technology with financial rights
• Works for the company as a consultant
• Medical Doctor, PhD at Copenhagen Wound Healing Center, Bispebjerg Hospital, Denmark

Thomas Bjarnsholt - Scientific Advisor

• Expert in the role of bacterial and fungal biofilms in chronic infections with over 135 peer reviewed publications
• Co-inventorof the technology with financial rights
• Member of the Global Wound Biofilm Expert Panel
• Professor at the Costerton Biofilm Center, Department of Immunology and Microbiology, University of Copenhagen

Pål Rongved - Professor at the University of Oslo

• Professor at School of Pharmacy, UiO and Senior Consultant in Board of Appeal Industrial Intellectual Property Rights (KFIR)
• Specialties: Medicinal chemistry, contrast agents, chelating agents, innovation, IPR, patent technology.
• Cand.scient. in organic chemistry and PhD in medicinal chemistry, UiO

18

Strong Intellectual Property rights

Advisors regarding patent and IP rights

• Attorney Thomas Meyers, Head of Intellectual Property, Brown Rudnick LLP
• • Main architect behind IP strategy and has worked with SoftOx since 2012
• Pål Rongved, Professor of Pharmaceutical Chemistry and Advisor for The Norwegian Industrial Property Office
• • Senior Advisor on chemical formulation and IP protection

More than 20 fillings where key patents granted, some key applications regarding matter of use:

• SoftOx hand disinfectant (Allowed U.S. App. 15/167,076, and corresponding applications across the world)
• SoftOx as a treatment for biofilms and wound care (U.S. App.15/612,571)
• SoftOx treatment of biofilms without inducing antimicrobial resistance (U.S. App. 16/672,393 and PCT/IB2019/001231);
• SoftOx treatment of transient biofilms (U.S. App. 16/672,395 and PCT/IB2019/001177); and mastitis treatment (U.S. App. 14/618,820).
• SoftOx has a license with co-inventors at the University of Copenhagen to patents related to wound treatment using SoftOx technology: Wound Care Products: U.S. 9,655,840 and EP 2515869; and Improved Wound Care Products: U.S. App. No. 14/112,518 and EP Pat. No. 2699232.

Ongoing patent application process to secure new inventions

Key patents filed in US, Europe, Asia and several South American countries

19

Contents

• New Ways of Eradicating Infections

• The Product Portfolio

• Hand Disinfectant

• Wound Care Products

• Respiratory Tract Solutions

• Summary

20

SoftOx Product Development Methodology*

How to enter the market

Concept development		Preclinical		Proof of Concept		Regulatory approval and market adoption

Excite International	In vitro efficiency	Safety study MD	Partners for	Post market studies	Full market
University of	Animal studies	EN 1500	EU approval
Copenhagen	market adoption	adoption
Early Technology review	Dose finding	Proof of concept	Partnerships	Confirmative study

SoftOx Hand Disinfection Program (Antivir)

21	* There are minor differences in the development stages between the products, for details, see each product description later in the
	presentation

Leading Players Emphasise Need for an Alternative to Alcohol

The World Health Organization recommendation to healthcare facilities [1

• «Provide alternative hand hygiene products for HCWs with confirmed allergies or adverse reactions to standard products used in the health-care setting»

The Norwegian Hospitals (Helseforetakenes Innkjøpsservice AS (HINAS))

• Established a separate class for alcohol-free hand disinfectant

EXCITE International

• The expert panel which includes some of the largest customers in the US and UK (Kaiser Permanente, Mayo Clinic, NICE) acknowledges a great need for more skin friendly solutions and recommends SoftOx as a strategy for replacing Alcohol-Based Hand Rub

SoftOx is answering an unmet need in a $6 bn market in US and EU[2

1. World Health Organization - Guidelines on Hand Hygiene in Health Care
2. Company own estimates

22

SoftOx - a Paradigm Shift in Disinfection

Challenges answered by SoftOx

• Skin friendly alternative to 25-55% of healthcare workers (HCW) have skin problems on their hands [1
• Alternative to for 70% of HCW experience problems with alcohol
• Full effect on all viruses incl. 15sec effect on enveloped viruses
• Effective towards biofilm (hand eczema)
• No health concerns
• • No burning sensation
  • Not toxic for eyes and drinking
  • Non-flammable

Economic impact

31.5 million HCWs in the EU and the US [2 [3

Whereof 10 million have irritated skin and eczema[4

USD 1,080 [5

Value of effective prevention of hand eczema per HCW

1 mill HCWs in EU and US at risk of losing their job

If so, 2/3 of them risk ending up on disability benefits

1. • 20 bn in estimated cost for US and European Hospitals
2. World Health Organization - Guidelines on Hand Hygiene in Health Care
3. Eurostat- Majority of Health Jobs Held by Women (2020)
4. Kaiser Family Foundation - Total Health Care Employment (2018)
5. National Eczema Association - Hand Eczema Common Among Health Care Workers
6. MedValue+, Radbound University Medical Center and Exite International's Panel of 11 KOL/experts - "2019 Health Technology Assessment; SoftOx Hand-wash for Health Care Workers with Eczema"

Relevance of Alcohol-Free Disinfection Products

Main Benefits

Avoid skin irritation and eczema

Safe and non-flammable formula

Prevents alcohol consumption/poisoning

Safe transportation

24

Safe usage in critical areas

Airplanes/

MilitaryAirports

Health care

sector

Stadiums/

Schools andArenas kindergartens

Offshore

Hand Disinfectant - Market Roll Out

Norway

	Nordic
Healthcare		Europe+
- User requirements
Healthcare
- Point of use
- Sweden
	Healthcare
- Price elasticity
- Denmark
		- Germany
Other segments			- Benelux
- Retail			- Middle East
- B to B			- Asia
			- USA and Canada

Nordic market pre corona

Retail

Business to 5 % Business

16 %

Other

healthcare

6 %

Hospitals and

nursing

homes 73 %

Norway serves as a pilot market to better understand the post-Covid-19 consumer

25

SoftOx Disinfection Norway

	Hospitals				Pharmacies & B2C

Other B2B

Segment distributors

• Cover the whole market
• Signal customers

Rationale

• Category for non-alcohol hand sanitizer
• Well documented efficiency
• Clinically proven skin friendly
• Safe

Business model

• HINAS Tender expected Des20/Jan21
• Direct of via distribution partners

Rationale

• Norway's largest brand distributor
• Own marketing, KAM and sales force towards pharmaceuticals
• Category for "Infection prevention" partnering with Aeris facemasks
• Innovation Window Feb 1st
• Consumer activities:
• • XXL launched in NO/SV/DK
  • Now being used in EM Denmark
  • Product of the month jan 21 Br. Dahls

Doctors office

Home Care

Public & Private sector

The defense sector

International transport

Sports

Offshore

26

Production and Distribution - Hand Disinfection

Production

• Production facilities established in Norway
• • Three facilities for small bottles (up to 1 litre)
  • One facility for large bottles (1 litre and 5 litre)
• Established QA system
• Existing capacity up to 2,5 million liters per month
• • Focus on bottling and flexibility in bottle size and shape
  • New inhouse production line gives increased flexibility

Distribution and roll out strategy

• Sales through distribution partners
• Premium product, aimed at healthcare workers
• Planned to be made available in pharmacies, sold directly to large clients and through consumer channels

Highly efficient production capacity for a turnover of up to $ 70 million per year

27

Contents

• New Ways of Eradicating Infections
  2 Product Portfolio
  3 Hand Disinfectant
  4 Wound Care Products
  5 Respiratory Tract Solutions
  6 Summary

28

Same Technology - Tailored Concentrations for Different Use

Intact skinAcute woundChronic wound

Skin and
Wound				Antimicrobials
Skin and environmental microbes
Challenges	Wound bed	Biofilm
			Wound bed	immune
			defence
				s

AntiVir	SoftOx Wound	SoftOx Infection
Hand disinfection	Irrigation Solution	Remover

SoftOx

Solutions

29

SoftOx Product Development Wound Irrigation Solutions (SWIS)

Market segmentation

Concept development		Preclinical PoC		PoC in humans		Regulatory approval and market adoption

	In vitro and	Pilot and	Partners for	Post market or	Full market
University of Copenhagen	confirmative	Randomized
Animal studies	market adoption
	clinical trial	clinical trial	adoption
Early Technology review	Dose finding	Proof of concept	Partnerships	Confirmative study

SWIS (SoftOx Wound Irrigation Solutions)

30

SoftOx Wound Irrigation Solution (SWIS)

Features

• Safe to use (user friendly)
• Non-toxicto host cells/tissue
• Profound antimicrobial effect
• Effectively kills antibiotic resistant bacteria and does not induce new resistance

Infection prevention market size of USD 1.6 bn [1

	Million acute wounds annually
~ USD 465 mn
Annual market size		Traumatic wounds
in Europe [2	50.0			Burns
			5.0
~ USD 668 mn
Annual market size
in North America[3	Surgical wounds 250.0

Market opportunity

• Skin wounds affect 120 million individuals worldwide [4

• Replacing today's wound wash products with a better or equal risk profile and profound antimicrobial effect

» Saline - 80% market share

» Other wound wash products - 20% market share

	1)	Wound Irrigation Solutions to Market 2027 - ResearchandMarkets.com
	2)	Europe Wound Irrigation Solution Market Forecast to 2027 - Reportlinker (2019)
31	3)	North America Wound Irrigation Solutions Market - Reportlinker (2019)
4)	European Union - HEXKIN - Delivering Healing EXosomes for sKIN (2019)

SoftOx Product Development Infection Remover (SBE)

Concept development		Preclinical PoC		PoC in humans		Regulatory approval and market adoption

Excite InternationalUniversity of Copenhagen

Early Technology review

• Scientific evaluation
• Unmet need
• Input from KOLs and early adopters
• Financial profitability

In vitro and	Pilot and		Post market or
confirmative or	Partners for market	Full market
Randomized clinical
Animal studies	Clinical trial	adoption
trial	adoption
	phase I/II
Dose finding	Proof of concept	Partnerships	Confirmative study	Secured adoption
• Repeated dose	• Safety	• Customer	• Significant results
toxicity (GLP)	• Effectiveness	• Salesforce	• User feedback and
• Lab experiments			recommendation
• Stability			• Regulatory approval

SBE (SoftOx Biofilm Eradicator)

32

SoftOx Infection Remover (SBE)

Features

• Penetrates and kill microbes within biofilms
• Penetrates deep into the wound bed
• Non-toxicand safe to use
• Kills antibiotic resistant bacteria and does not induce new resistance

Development and market opportunity

• 40 million chronic wounds to heal [2
• • Before healing, infections must be removed
  • Today's recommended solution removes only 90% of the bacteria and includes surgical removal of wound bed

External market support

 US Navy Research Center - 2 million USD

 EXCITE International incl. Blue Cross/Blue Shield  European Wound Management Association

	1)	Advanced Wound Care Market Size, Share & Industry Analysis - Fortune Business Insights (2020)
33	2)	European Union - HEXKIN - Delivering Healing EXosomes for sKIN (2019)
3)	Europe Advanced Wound Care Market Analysis Report - MarketDataForecast.com (2020)
	4)	North America Advanced Wound Care Market Research Report- MarketDataForecast.com (2020)

Global infection remover market size of 11 bn [1

	Million chronic wounds annually
~ USD 2.8 bn
Annual market size
in Europe [3
	Venous leg ulcer	9.7
		16.2 Other chronic wounds
~ USD 3.0 bn
	250.0
Annual market size
in North America	Diabetic foot ulcers	10.0
		4.5
		Pressure ulcers

Contents

• New Ways of Eradicating Infections
  2 Product Portfolio
  3 Hand Disinfectant
  4 Wound Care Products
  5 Respiratory Tract Solutions
  6 Summary

34

SoftOx Product Development Inhalation Solution

Concept development		Preclinical		PoC in humans		Regulatory approval and market adoption

Danish Medical Agency	In vitro and	Clinical trial	Partners for	Randomized	Full market
University of Copenhagen	Animal studies	phase I/II	market adoption	clinical trial	adoption
Early Technology review	Dose finding	Proof of concept	Partnerships	Confirmative study

SIS (SoftOx Inhalation Solution)

* The arrow shows Soft-Ox product progress

35

Treatment of Infections in the Respiratory Tract

Unmet need

• Combat viral and bacterial infections in respiratory tract and lungs
• Treatment of Covid-19
• Pneumonia, Cystic Fibrosis, other

Results from preclinical studies with SoftOx Inhalation Solution (SIS)

• Antiviral and antibacterial effects demonstrated in vitro
• Tolerable & safe concentration range established in minipig model

Latest news

• A Scientific Advice meeting has been performed with Danish Medicines Agency obtaining clarity and input to an accelerated drug development process aiming for first-in-human (FIH) study Q2 2021.
• Intensive research activity is currently ongoing to secure safety & tolerability aspects prior to FIH study. On schedule.

Answering the unmet medical need of treating respiratory tract infections

36

SoftOx Inhalation Solution (SIS)

Features

• Antimicrobial inhalation solution for respiratory tract infections
• Broad spectrum including virus and resistance bacteria

Market opportunity

• Huge unmet need for infectious treatment in respiratory tract
• Supplement for vaccine development
• Replacing antibiotics to treat resistant infections

Project leader Professor Thomas Bjarnsholt

Market Inhalation Solutions in Europe and the US ¹

Acute

bronchitis;

32,5

Covid 19;	Influenza;
75
12,3
Bacterial
~ USD 12 bn
pneumonia;
Annual market
8,4
	size

• European Lung White-book, European Respiratory Society. Chapter 18. Available from: https://www.erswhitebook.org/chapters/acute-lower-respiratory-infections/

Number of cases from 31 Dec 2019 to 10 Aug 2020. Source: European Centre for Disease Control and Prevention. Available from: https://www.ecdc.europa.eu/en/geographical-distribution-2019-ncov-cases

Singh A, Avula A, Zahn E. Acute Bronchitis. [Updated 2020 Jun 24]. In: StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; 2020 Jan-. Available from: https://www.ncbi.nlm.nih.gov/books/NBK448067/

37 Disease burden of influenza. Source: Centers for Disease Control and Prevention. Available from: https://www.cdc.gov/flu/about/burden/index.html

Sattar SBA, Sharma S. Bacterial Pneumonia. [Updated 2020 Mar 6]. In: StatPearls [Internet]. Treasure Island (FL): StatPearls Publishing; 2020 Jan-. Available from: https://www.ncbi.nlm.nih.gov/books/NBK513321/

Contents

• New Ways of Eradicating Infections
  2 Product Portfolio
  3 Hand Disinfectant
  4 Wound Care Products
  5 Respiratory Tract Solutions
  6 Summary

38

Investment highlights

$20bn+

Large market opportunity1

Strong patent family protecting IP

+80%

Gross margin target2

+35%

EBITDA2

AntiVir ™

Distribution through partners

Proven effect	2021
Successful clinical trial	Ambition of cash
in humans	positive operations

Collaboration with	No antimicrobial
world-leading scientists	resistance

1. Calculated by adding the potential markets

39 2) Company estimate

New ways of eradicating infections and

fighting antimicrobial resistance