High profiled medical doctor and entrepreneur joins STENOCARE’s ongoing share-issue

STENOCARE A/S
NASDAQ FIRST NORTH GROWTH MARKET, DENMARK
TICKER:  STENO

Inspired about the potential of medical cannabis when prescribed by doctors to patients in pain, Hans Wittrup, M.D., Ph.D., has decided to join the ongoing rights issue with a pre-subscription of DKK 750.000.

Hans Wittrup is known as the founder of Medpro Clinic Group, one of Sweden's larger chains of primary healthcare centers and has offered to share his thoughts related to the investment.

Hans Wittrup comments: "Millions of people could have improved quality of life if they had better pain management. An effective pain management strategy requires a multi-faceted approach including a number of healthcare professionals and pharmacological and non-pharmacological treatments. This should be done in pain centers with strong medical leadership and a high level of medical expertise. In these centers, the use of medicinal cannabis should become a natural part of the treatment plan that patients can be offered, naturally within the framework of international recommendations in this area."

Hans Wittrup continues and concludes:  It impresses me that Stenocare - in just a few years, and to my knowledge as the only European player - has had medicinal cannabis oil products approved and sales completed in both Denmark and now 5 other countries, including Europe's largest market, Germany. I believe that Stenocare can play an important role in this development and would like to be involved in this, both as an investor and in other ways where it may be relevant."

Stenocare CEO, Thomas Skovlund Schnegelsberg says: "We are proud and excited to have a capacity like Hans Wittrup on board as an investor, shareholder and recognized capacity in our space. There is no doubt that the knowledge and experience he has built is of great relevance to us and our industry. The European medical cannabis market is young and has great growth potential in the coming years, and patient access to experienced doctors is one of the most important keys to growth. Being able to draw on a capacity like Hans Wittrup in this context will be a great advantage to Stenocare going forward."

Since 2017, Stenocare has become a European market leader in medical cannabis, leveraging a wave of legalization and local demand from patients. To date, Stenocare has secured licenses and product approvals in 6 countries including the latest entry into Germany, Europe’s by far largest market for medical cannabis. Stenocare has also built commercial assets represented by pharma distributors among other things in each country, that make it possible to operate in all types of countries. Most recently, the company has launched an IT platform for doctors to offer patients online consultations and thus facilitate access to medical cannabis treatment. With Hans Wittrup's involvement in Stenocare, the company now has access to yet another important source of knowledge and inspiration, especially in relation to how to best build infrastructure with competent doctors and clinics in various markets.

About Hans Wittrup:

Hans Wittrup has a background in clinical medicine and extensive research in genetic reasons for cardiovascular diseases. He obtained his Ph.D. in 1998 and retired from clinical medicine from the University Hospital of Copenhagen, Rigshospitalet, Anesthesiology Department in 2003 to follow an entrepreneurial pathway. He co-founded Medpro Doctor in 1999, a recruitment and staffing company solely for doctors supplying both the NHS and private providers in the UK as well as large parts of the healthcare system in Scandinavia. When the company was sold in 2011 it was among the three largest recruitment companies for doctors in Scandinavia. In 2007, Hans Wittrup was the founder of Medpro Clinic. By end of 2020 Medpro Clinic served 50,000 patients, employed 250 staffs and had revenues of 310+ MSEK. The company was sold to the Swedish private equity fund Procuritas in February 2021 and after more than two years post-closing, Hans Wittrup has recently resigned from day-to-day operation and from being part of the management team in the new Group holding company Medtanken Group.