PCI Biotech awarded NOK 12.5 million from The Research Council of Norway to further development of PCI for use in vaccination

Oslo, 30 January 2014 - PCI Biotech (PCIB) the Norwegian biopharmaceutical
company, reported today that it has been awarded NOK 12.5 million in a BIA grant
from The Research Council of Norway to the project "Development of photochemical
internalization to enhance the effect of therapeutic and prophylactic
vaccines".

The project goal is to document that PCI Biotech's photochemical internalization
(PCI) technology can be used to improve the efficacy of vaccines. The main focus
of the project will be to verify and further develop the technology for use in
therapeutic vaccines against cancer, but the project also includes use of the
PCI technology by vaccination against certain types of virus and bacterial
infections.

'We are very pleased with this important grant. A successful project might be of
great importance for the development of new types of immunotherapy against
cancer, and also in the prevention and treatment of some types of infectious
diseases, including certain types of chronic virus infections', says CEO in PCI
Biotech, Per Walday.

The project will be initiated in Q3 2014 and run for three years. The grant will
cover up to 35% of the project costs. The project will be implemented in the
company's current plans, and will not significantly affect the Operating result.
The grant is subject to final contract negotiations.

About PCI Biotech
PCI Biotech is a Norwegian biopharmaceutical company developing a novel light
directed treatment system based on its patented photochemical internalisation
(PCI) technology. Originating from world leading research at the Norwegian
Radium Hospital, the PCI method involves first injecting the photosensitiser
Amphinex® and thereafter the therapeutic drug to be specifically delivered to
the diseased cells. When the diseased cells are illuminated the cells' endosomes
are ruptured to allow successful intracellular delivery of the drug.

PCI can enhance the delivery of all molecules taken into the cell by
endocytosis. This includes most types of macromolecules, drugs carried by
antibodies or nanoparticles, as well as some small molecule drugs.

The PCI technology is also a versatile and innovative vaccination platform,
which may specifically increase the cytotoxic T-cell response of vaccines. This
is particularly important in therapeutic vaccination, when the immune system
needs to recognise and destroy diseased cells (e.g. virus infected cells and
cancer).

PCI Biotech follows a strategy to create value by improving the effect both of
existing cancer drugs and by realizing the large potential in new therapeutics,
including therapeutic vaccines.

For more information visit: www.pcibiotech.com

Contact information:
PCI Biotech Holding ASA, Strandveien 55, N-1366 Lysaker
Per Walday, CEO, pw@pcibiotech.no, Mobile: +47 917 93 429
Ronny Skuggedal, CFO, rs@pcibiotech.no, Mobile: +47 940 05 757



This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.



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