Circio announces intention to raise around NOK 50-60 million in Q2 2024 to extend cash runway to Q2 2025

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• Circio plans to raise around NOK 50-60 million in gross proceeds in a partially underwritten rights issue to be completed during Q2 2024
• The intended financing will provide twelve months of runway, enabling delivery of key circVec circular RNA platform milestones
• Members of Circio´s board and management have pre-committed to participate with around NOK 2 million in the fundraising
• Atlas Capital Markets is supportive of, and intends to participate in, the financing
• Redeye AB is acting as financial advisor to Circio

Oslo, Norway 17 April 2024 – Circio Holding ASA (OSE: CRNA, “Circio”), a biotechnology company developing next generation circular RNA vector technology for gene therapy, announces that it is initiating a fundraising process with the intent to raise around NOK 50-60 million or more in gross proceeds from existing shareholders and new investors in a partially underwritten rights issue to be completed during Q2 2024.

“The board strongly believes in the potential of Circio´s unique circVec platform, and this intended fundraising will provide the company with the required capital to validate the significant advantage of the technology in gene therapy,” said Damian Marron, Chairman of Circio. “With twelve months runway, Circio will have time to reach important R&D milestones and will aim to achieve its first business development deal, thereby delivering value to our shareholders.”

Existing convertible bond investor Atlas Capital Markets is supportive of, and intends to participate in, the intended fundraising. Members of Circio´s board and management have pre-committed to participate with around NOK 2 million, including NOK 500.000 by CEO Dr. Erik D Wiklund.

“Circio has now demonstrated technical validation for its circVec circular RNA platform both in vitro and in vivo and is pushing ahead to establish in vivo proof-of-concept for its novel circVec gene therapy formats,” said Dr. Erik Digman Wiklund, CEO at Circio. “This financing will enable Circio to develop the lead program in AATD towards selection of a lead therapeutic candidate by the middle of next year. In parallel, Circio will continue to improve and expand the circVec platform, which will open opportunities for multiple future revenue-generating partnerships both in the short- and long-term.”

Circio will update the market in due time when the structure and timing of the intended transaction have been determined.

Redeye AB will be acting as financial advisor to Circio and sole bookrunner in the transaction and Advokatfirmaet Thommessen AS is acting as legal advisor.