PCI Biotech: Third quarter 2015 report

Lysaker, 17 November 2015

Please find attached the third quarter 2015 report for PCI Biotech Holding ASA.

Highlights include:

* Research collaboration with a top-10 large pharma company initiated
* The bile duct study has moved into the fourth dose cohort
* Research collaboration with RXi progressing according to plan
* Scientific Advisory Committee established
* Exploring options for clinical validation of immunotherapy results
* PCI Biotech moving to Oslo Cancer Cluster Innovation Park


CEO Per Walday comments:

"We were delighted to announce the research agreement with one of the largest
pharma companies in the world. We believe that the PCI technology has the
potential to play a role in the realisation of several new therapeutic
modalities, including cancer immunotherapy and mRNA therapeutics. This agreement
shows that external companies share this view. The collaborative research has
been initiated.

We are also pleased to announce the progress in our bile duct study, with the
potential to progress into Phase II in first half of 2016.

Our network of internationally renowned experts in the recently established
scientific advisory committee has provided valuable input to the assessment of
our development opportunities. We are now exploring options for clinical
validation of the promising immunotherapy results, as part of the strategy going
forward."

About PCI Biotech
PCI Biotech  is  a  cancer  focused  biopharmaceutical company headquartered in
Norway  and listed on the Oslo Stock Exchange (Axess). The company is developing
therapeutic products  based  on  its  proprietary photochemical internalization
(PCI)  technology.  Originating  from  world  leading  research at the Norwegian
Radium  Hospital,  the  PCI  technology  works  by  inducing triggered endosomal
release  and  may  be  used  to  unlock  the  true  potential of a wide array of
therapeutic modalities, such as small molecules, vaccines and nucleic acids.

The company  currently  has a bile  duct  cancer program in phase I/II clinical
development. Bile duct  cancer  is  an  orphan  indication without any approved
medicinal products and a high medical need for better local treatments. It is an
indication   well   suited  for  PCI  treatment,  with  easy  light  access  for
intraluminal  surface  illumination  through  routine  endoscopic methods and an
active generic drug (gemcitabine) significantly enhanced by PCI.

The company is also developing PCI as  a CTL (Cytotoxic T Lymphocyte) induction
technology   for   therapeutic   and   prophylactic  vaccination.  It  has  been
demonstrated  both  in  vivo  and  ex  vivo that PCI significantly increases the
number  of  activated  antigen-specific  CTLs  by  enhancing  the  MHC I antigen
presentation  of antigen presenting cells. When applied in the emerging field of
cancer  immunotherapy, PCI can be used to enhance the important cytotoxic effect
of therapeutic cancer vaccines.

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

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


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