PCI Biotech: Final results of the rights issue

Oslo, 10 January 2017, 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 10,000,000 new shares in the Company (the "Rights
Issue").

The subscription period for the Rights Issue expired at 16:30 CET on 5 January
2017.

At the expiry of the subscription period the Company had received subscriptions
for a total of 20,983,007 new shares. In total 10,000,000 new shares were
offered, thus the Rights Issue was oversubscribed with 110 per cent.

Approximately 97 per cent of the new shares on offer (approximately 9.7 million
shares) were subscribed through the exercise of subscription rights.
Approximately 3 per cent of the new shares on offer (approximately 0.3 million
shares) were subscribed for through oversubscription.

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 13 December 2016. A total of
10,000,000 new shares have been allocated. Approximately 9.7 million new shares
have been allocated to subscribers on the basis of exercised subscription
rights. Approximately 0.3 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 16 January 2017 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 20 January 2017 and that the new shares will be
admitted to trading on the Oslo Stock Exchange on the same day.

Through the Rights Issue, PCI Biotech will receive gross proceeds in the amount
of approximately NOK 70 million. The Company's extraordinary general meeting
held on 8 December 2016, resolved to increase the share capital of the company
with NOK 30,000,000 through the issue of 10,000,000 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 74,701,170 divided by
24,900,390 shares, each with a nominal value of NOK 3.00.

Fondsfinans is acting as Bookrunner in connection with the Rights Issue.
Advokatfirmaet Ræder is acting as the Company's legal advisor in connection with
the Rights Issue.

Contact information:
PCI Biotech Holding ASA, Ullernchausséen 64, N-0379 Oslo, Norway.
www.pcibiotech.com
Ronny Skuggedal, CFO, rs@pcibiotech.no, Mobile: +47 9400 5757.

Important Notice
The contents of this announcement have been prepared by, and are the sole
responsibility of, the Company. The Company's financial advisor is 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
its 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.

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 publication is not an offer for sale of or the solicitation of an offer to
purchase securities in the United States. The Offer Shares and the Subscription
Rights have not been registered under the U.S. Securities Act of 1933, as
amended, or any state securities laws, and may not be offered or sold within the
United States.

About PCI Biotech
PCI Biotech is a biopharmaceutical company focusing on development and
commercialisation of novel therapies for the treatment of cancer through its
innovative photochemical internalisation (PCI) technology platform.  PCI is
applied to three distinct anticancer paradigms: fimaChem (enhancement of
chemotherapeutics for localised treatment of cancer), fimaVacc (T-cell induction
technology for therapeutic vaccination), and fimaNAc (nucleic acid therapeutics
delivery).

Photochemical internalisation induces triggered endosomal release that is used
to unlock the true potential of a wide array of therapeutic modalities. The
company's lead fimaChem programme consists of a clinical Phase I/II clinical
study in bile duct cancer, an orphan indication with a high unmet need and
without approved products.  fimaVacc applies a unique mode of action to enhance
the essential cytotoxic effect of therapeutic cancer vaccines, which works in
synergy with several other state-of-the-art vaccination technologies.  fimaNAc
utilises the endosomal release to provide intracellular delivery of nucleic
acids, such as mRNA and siRNA therapeutics, thereby addressing one of the major
bottlenecks facing this emerging and promising field.





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