PCI Biotech: Employee share option scheme

Oslo, 17 October 2017

In accordance with the authorisation granted by the Annual General Meeting 29
May 2017, the Board of Directors of PCI Biotech Holding ASA has awarded a total
of 90,000 share options to key employees.

The share options are allotted to the newly hired Chief Medical Officer, Hans
Olivecrona. Each share option gives the right to subscribe for or acquire one
share per option (after PCI Biotech Holding ASA's choice), at a strike price of
NOK 22.35, equal to the volume weighted average share price (VWAP) for the last
5 days of trade prior to the grant date. The options can be exercised with 1/3
of the options after one year, further 1/3 after two years and the last third
after three years. The share options are lapsing in Q3 2022.

After the allocation, Hans Olivecrona holds a total portfolio of 90,000
unexercised share options and 0 shares.

The current authorisation, as of 29 May 2017, allows for allocation of
additional 1,040,000 share options to key employees.

For more information, please contact:
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.