PCI Biotech initiates research collaboration with IMV Inc

Exploring synergies between PCI and DPX technologies to further enhance the
effect of novel oncologic therapies

Oslo (Norway) 24 May 2018 - PCI Biotech (OSE: PCIB), a cancer focused
biopharmaceutical company, today announced that it is initiating a preclinical
research collaboration with IMV Inc (TSE:IMV) (OTCQX:IMMVD) Nova Scotia
(Canada), a clinical stage biopharmaceutical corporation focused on developing
state-of-the-art immunotherapies. The partnership is governed by a preclinical
research collaboration agreement.

In brief, the collaborators will evaluate the formulation compatibility of their
respective technologies and evaluate the potential immunogenicity and
therapeutic benefit with in vivo studies. Based upon the results, the companies
may pursue a further development partnership.

Per Walday, CEO of PCI Biotech, said: "I'm very pleased to announce another
research agreement in the field of nucleic acid therapeutics. We believe that
the PCI technology has the potential to play a role in the realisation of
several new therapeutic modalities. We look forward to explore synergies with
IMV's unique and innovative DPX technology."

Contact information:
Per Walday, CEO
pw@pcibiotech.com
Mobile: +47 917 93 429

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 RNAi therapeutics, thereby addressing one of the major
bottlenecks facing this emerging and promising field.

For further information, please visit: www.pcibiotech.com

Forward-looking statements
This announcement may contain forward-looking statements, which as such are not
historical facts, but are based upon various assumptions, many of which are
based, in turn, upon further assumptions. These assumptions are inherently
subject to significant known and unknown risks, uncertainties and other
important factors. Such risks, uncertainties, contingencies and other important
factors could cause actual events to differ materially from the expectations
expressed or implied in this announcement by such forward-looking statements.
PCI Biotech disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.


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