Medicortex Finland Oyj Welcomes NGM’s Conditional Approval for Continued Listing of the Combined Group

In connection with the previously announced intention to carry out a reverse takeover of Medicortex Finland (the “Transaction”), NOSIUM AB (publ) has been under observation status on NGM Growth Market, as the Transaction constitutes a material change to the company’s business under item 3.2 of NGM’s rulebook for NGM Growth Market (the “Rulebook”). The company therefore underwent a new listing review, and today’s conditional approval is the outcome of that review.

Medicortex Finland conducts research and development of diagnostics and treatment for traumatic brain injury (TBI) and other neurological conditions, with the aim of making available a rapid, non-invasive diagnostic test based on biomarkers in body fluids. Through a combination of in-house research and strategic partnerships, Medicortex Finland intends to bring the product closer to market for both diagnostics and future drug development in the field.

What do the conditions mean, and what remains before the re-listing is complete?

NGM’s approval is conditional on the company fulfilling the following, already known and defined conditions: (i) completion of the Transaction; (ii) publication of an information memorandum that is materially consistent with the one on which NGM’s review was based; and (iii) no new information emerging that affects the assessment NGM has already made. NGM’s substantive review of the company is complete in the sense that no further assessment questions remain on NGM’s side; what remains is for the company to formally execute and confirm fulfillment of the above conditions, which lies largely within the company’s own control.

The company’s observation status on NGM Growth Market formally remains in place until all of the above conditions have been confirmed as fulfilled.

Comment from Adrian Harel, CEO of Medicortex Finland Oyj

“NGM’s conditional approval is exactly the kind of validation we set out to earn. It confirms that the extensive review process is now behind us and that the exchange is comfortable with the direction we are taking the combined company. From here, the remaining steps are largely procedural and within our control to complete. What I find most encouraging is that we get to make this transition with our underlying science further along than when the process started — our patent position has strengthened and our diagnostic prototypes have progressed in parallel. I am grateful to everyone at Medicortex and Nosium who has carried this process forward, and I am looking forward to focusing fully on building Medicortex International into a leading company in TBI diagnostics.”