PCI Biotech: Prospectus approval and commencement of subscription period

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER
JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Lysaker, 20 January 2015 - As previously announced, PCI Biotech Holding ASA
("PCI Biotech" or the "Company") will conduct a rights issue of 7,000,000 new
shares (the "Offer Shares") in the Company (the "Rights Issue") raising gross
proceeds of NOK 70 million.

DNB Markets and Fondsfinans are acting as Joint Bookrunners in connection with
the Rights Issue.

The Financial Supervisory Authority of Norway has approved the prospectus dated
19 January 2015 prepared in connection with the Rights Issue (the "Prospectus").

Subject to applicable local securities laws, a letter including information on
where the Prospectus is available as well certain other relevant information in
connection to the Rights Issue and the shareholding will be sent by mail to all
shareholders registered in the VPS as of the expiry of 8 January 2015. The
Prospectus will also be available at the following websites: www.pcibiotech.no;
www.dnb.no/emisjoner and www.fondsfinans.no/no/tag/ongoing/ or by request from
one of the Joint Bookrunners.

Eligibility:
Shareholders registered in the Company's shareholder register with the Norwegian
Central Securities Depository (VPS) as of the expiry of 8 January 2015 (the
"Record Date") ("Existing Shareholders") will be granted transferable
subscription rights (the "Subscription Rights") that, subject to applicable law,
provide preferential rights to subscribe for and be allocated Offer Shares in
the Rights Issue.  Each Existing Shareholder will receive 0.906 subscription
rights for every share held as at the Record Date. The number of subscription
rights issued to each Existing Shareholder will be rounded down to the nearest
whole subscription right. Each subscription right will, subject to applicable
securities laws, give the right to subscribe for and be allocated 1 new share in
the Rights Issue. Over-subscription by holders of subscription rights and
subscription for shares without subscription rights will be permitted.

Subscription price
NOK 10 per Offer Share.

Subscription period
From and including 20 January 2015 until 3 February 2015 at 16:30 CET

Trading in subscription rights
From and including 20 January 2015 until 3 February 2015 at 16:30 CET

The subscription rights are expected to have commercial value. The subscription
rights that are not used to subscribe for new shares or not sold before 3
February 2015 at 16:30 CET, will lapse without compensations to the holder and
consequently be of no value.

Underwriting:
The Rights Issue is fully underwritten by an underwriting syndicate established
by the Joint Bookrunners. The underwriters will receive an underwriting fee
equal to 3.0 per cent of their respective underwriting obligations. More
information about the underwriting can be found in Section 5.18 of the
Prospectus.

Subscription procedure
Holders of subscription rights (whether granted or acquired) must, in order to
subscribe for new shares, submit a correctly completed subscription form to one
of the subscription offices as outlined below and included in the Prospectus.
Subscribers who are Norwegian residents with a Norwegian personal identification
number may also subscribe for shares through the VPS online subscription system
or by following the link on www.pcibiotech.no, www.dnb.no/emisjoner or
www.fondsfinans.no/no/tag/ongoing/, which will direct the subscriber to the VPS
online system.

DNB Markets   Fondsfinans AS

Registrars Department   Haakon VII's gate 2

P.O. Box 1600 Sentrum   P.O. Box 1782 Vika

NO-0021 Oslo   NO-0122 Oslo

Norway   Norway

Email: retail@dnb.no   Fax: +47 23 11 30 03
www.dnb.no/emisjoner



Share capital increase:
The share capital increase pertaining to the Rights Issue is expected to be
registered with the Norwegian Register of Business Enterprises (Nw.
Foretaksregisteret) on or about 13 February 2015.

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

IMPORTANT NOTICE
The contents of this announcement have been prepared by, and are the sole
responsibility  of, the Company.  The Company's financial advisors are  acting
exclusively  for  the  Company  and  no  one  else, and will not be responsible
to anyone  other  than  the  Company for providing the protections afforded to
their respective clients,  or for advice in  relation to the Rights Issue, the
contents of this announcement or  any of  the matters  referred to herein.  The
Rights Issue and the distribution  of this announcement and other information
in connection  with the Rights Issue may be  restricted by law in certain
jurisdictions. The Company assumes no responsibility in the event there is a
violation by any person of such restrictions. Persons into whose possession this
announcement or such other information  should come are required to inform
themselves about, and to observe, any  such restrictions. This announcement may
not be used for, or  in connection with, and  does not constitute, any offer of
ecurities for sale in the United States or in any other jurisdiction.

The Rights Issue will not be made in any jurisdiction or in any circumstances in
which such offer or solicitation would be unlawful. This announcement is not for
distribution,  directly or indirectly in or into any jurisdiction in which it is
unlawful to make any such  offer or solicitation to such person or where prior
registration or approval is required for that purpose. No steps have been taken
or will be taken  relating to the Rights Issue in  any jurisdiction outside of
Norway in which  such steps would be  required. Neither the publication and/or
delivery of this announcement shall under any circumstances imply that there has
been no change in the affairs of  the Company or that the information contained
herein is correct as of  any date subsequent to  the earlier of the date hereof
and any earlier specified date with respect to such information.

This announcement is not for publication or distribution, directly or
indirectly, in the United States (including its territories and possessions, any
state of the United States and the District of Columbia). This announcement does
not  constitute  or  form  part  of  any  offer or solicitation to purchase or
subscribe for securities in the United States. Securities may not be offered or
sold in the United States absent registration or an exemption from registration.
The shares to be sold in the Rights Issue have not been and will not be
registered under the United States Securities  Act of 1933, as amended (the "US
Securities  Act") or with any securities regulatory  authority of any state or
other jurisdiction of the United States, and may not be offered or sold in the
United States or  to, or  for the  account of, U.S. persons  (as such  term is
defined in Regulation  S under  the US  Securities Act), except pursuant to an
effective registration statement under, or an exemption  from the registration
requirements of, the US Securities Act. All offers and sales outside the United
States will be made in reliance on Regulation S under the US Securities Act.
There will be no public offer of securities in the United States This
announcement  does  not  constitute  an  offering circular  or  prospectus  in
connection with an offering of securities of the Company. Investors must neither
accept any offer for, nor acquire, any securities to which this document refers,
unless they do so on  the basis of the  information contained in the prospectus
made available by the Company only to qualified persons in certain jurisdictions
where an offer may  be made (if  an offer is  made). This announcement does not
constitute an offer to sell or the solicitation of an offer to buy or subscribe
for,  any securities  and cannot  be relied  on for  any investment  contract or
decision.

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


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