PCI Biotech: Final results of the rights issue

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.

Reference is made to the previous announcements by PCI Biotech Holding ASA ("PCI
Biotech" or the "Company") in respect of the fully underwritten rights issue of
7,000,000 new shares in the Company (the "Rights Issue").

The subscription period for the Rights Issue expired at 16:30 CET on 3 February
2015.

At the expiry of the subscription period the Company had received subscriptions
for a total of 8,582,077 new shares. In total 7,000,000 new shares were offered,
thus the Rights Issue was oversubscribed with 22.6% per cent.

In a board meeting today, the Board of Directors of PCI Biotech approved the
final allocation of the shares offered in the Rights Issue based on the
allocation criteria set out in the prospectus dated 19 January 2015. A total of
7,000,000 new shares have been allocated. Approximately 6.56 million new shares
have been allocated to subscribers on the basis of exercised subscription
rights. Approximately 0.44 million new shares have been allocated to holders of
subscription rights as a result of oversubscription. No allocation has been made
to subscribers without subscription rights.

Notifications of allocated new shares and the corresponding subscription amount
to be paid by each subscriber are expected to be distributed today. Payment for
the allocated shares falls due on 10 February 2015 in accordance with the
payment procedures described in the prospectus.

The new shares may not be transferred or traded before they have been fully paid
and the share capital increase pertaining to the Rights Issue has been
registered with the Norwegian Register of Business Enterprises. It is expected
that the share capital increase will be registered in the Norwegian Register of
Business Enterprises on or about 13 February 2015 and that the new shares will
be admitted to trading on the Oslo Axess on the same day.

Through the Rights Issue, PCI Biotech will receive gross proceeds in the amount
of NOK 70 million. The Company's extraordinary general meeting held on 6 January
2015, resolved to increase the share capital of the company with NOK 21,000,000
through the issue of 7,000,000 new shares as a result of the Rights Issue.
Following registration of the share capital increase pertaining to the Rights
Issue in the Norwegian Register of Business Enterprises, the Company's share
capital will be NOK 44,179,170 divided by 14,726,390 shares, each with a nominal
value of NOK 3.00 and represents one voting right per share.

DNB Markets and Fondsfinans are acting as Joint Bookrunners in connection with
the Rights Issue. Advokatfirmaet Selmer DA is acting as the Company's legal
advisor in connection with the Rights Issue.


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
securities 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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