SoftOx Solutions (SOFTX) Investor Update summary

Management and Leadership

• New management and board, including Ulrik Spork as chairman and Thomas Bjarnsholt as CEO, bring extensive life sciences and financial expertise to drive strategic direction.

• The organization is lean, project-oriented, and focused on a single inhalation technology for ventilator-associated pneumonia (VAP).

• Additional board and management competencies will be added to support the focused strategy.

• Leadership changes are seen as a key milestone for the company's strategic direction.

Financial Position and Funding

• The company is debt-free following a completed rights issue, with proceeds used to pay down supplier debt and provide operational runway.

• Ongoing rights issue aims to raise NOK22.5m–24.75m at NOK0.02/share, with trading in new shares expected around September 7.

• Cash burn is NOK1.2m/month, providing 4–6 months of runway before further financing is needed.

• The company aims to raise NOK 60-80 million in the next six months to fully fund the Phase II trial.

• Financial restructuring and cost reduction have been prioritized to ensure sustainability and cash preservation.

Clinical Development and Technology

• Main focus is on a Phase II clinical trial for VAP, a high-mortality ICU infection with limited treatment options and significant market opportunity.

• All toxicology and Phase I safety studies for the inhalation solution are complete, showing strong safety, tolerability, and efficacy.

• The technology stabilizes hypochlorous acid with acetic acid, demonstrating broad-spectrum antimicrobial activity and efficacy in preclinical models.

• The Phase II trial is budgeted at NOK 60-80 million over 2.5 years, with results expected in early 2027.

• Success in Phase II would enable pursuit of industrial partnerships or an exit, leveraging strong clinical data.