PCI Biotech: First patient treated in the study of Amphinex in patients with bile duct cancer (Cholangiocarcinoma)

Oslo, 4 February 2014 - PCI Biotech (PCIB) the Norwegian biopharmaceutical
company, reported today that the first patient has been treated in the phase
I/II study of Amphinex in combination with the cytotoxic agent gemcitabine in
patients with bile duct cancer (cholangiocarcinoma). The first patient was
treated at the University Hospital Aintree, Liverpool, UK.

Coordinating Investigator, Dr. Richard Sturgess at Aintree, said: "Bile duct
cancer is a devastating disease with a very clear need of better treatment
methods. Bile duct cancer has a remarkable resistance to chemotherapy and these
patients are lacking good alternative treatment options. PCI of gemcitabine with
Amphinex represents a new and innovative treatment concept that could
potentially produce significant local tumour response in these patients. The
study is well designed to demonstrate the potential clinical benefit of Amphinex
induced PCI of gemcitabine in bile duct cancer patients and I look forward to
working with my fellow investigators on this study."

Per Walday, CEO of PCI Biotech, said: "This is a very important milestone for
PCI Biotech. We are confident that PCI treatment has the potential to provide
clinical benefit in several different indications. Bile duct cancer has been
chosen due to the high need of new local treatment options for this disease
combined with a very good fit with the PCI technology."

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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