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2016-01-27

PCI Biotech Holding: PCI Biotech and Ultimovacs initiates preclinical research collaboration

Oslo, 27 January 2016 - PCI Biotech (OSE: PCIB), a cancer focused
biopharmaceutical company, and Ultimovacs, a pharmaceutical company
developing novel immunotherapy against cancer, today announced that they are
initiating a preclinical research collaboration. The purpose of the
collaboration is to utilise the companies' complementary scientific platforms
to explore potential synergies.

The partnership is governed by a preclinical research collaboration agreement.
In brief, the preclinical research collaboration will evaluate technology
compatibility and synergy based onin vivo
studies. The companies will evaluate results achieved from this research
collaboration and then explore the potential for a further partnership.

Per Walday, CEO of PCI Biotech, said: "I'm very pleased to announce our first
research agreement in the field of cancer vaccination. We believe that the
PCI technology has the potential to play a role in the realisation of several
new therapeutic modalities, including cancer immunotherapy. Our preclinical
research with other peptide vaccines have demonstrated strong enhancement of
important cellular immunity responses and we look forward to explore
synergies with Ultimovacs promising vaccination technology."

Øyvind Kongstun Andersen, CEO of Ultimovacs, said: "Through this preclinical
collaboration we are able to explore possible synergies between our two
technologies. PCI has a very promising novel technology. Our therapeutic
cancer vaccine is documented in patients to activate the immune system
against cancer. We find it important for small biotech companies to
collaborate and explore synergistic potential when there is an underlying
scientific rationale. Such collaborative efforts may further strengthen the
position of Norwegian companies within immunotherapy, which has become an
important cancer treatment with a fast growing market."

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
internalisation (PCI) technology. 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 has a clinical Phase I/II program in bile duct
cancer, which is an orphan indication without approved medicinal products and
a high need for better local treatments. The indication is well suited for
PCI treatment, with easy light access through routine endoscopic methods and
an active generic drug (gemcitabine) significantly enhanced by PCI. The
company is also developing PCI as a vaccination technology. When applied in
the emerging field of cancer immunotherapy, PCI can be used to enhance the
important cytotoxic effect of therapeutic cancer vaccines. The PCI technology
is also very well suited for intracellular delivery of nucleic acids, such as
RNA therapeutics. By releasing nucleic acid compounds from endosomes where
they are trapped following administration, PCI addresses one of the major
bottlenecks facing this emerging and exciting field. PCI Biotech follows a
strategy to create value by improving the effect of existing cancer drugs and
by realising the large potential in new therapeutics.

About Ultimovacs
Ultimovacs is a small pharmaceutical company developing novel immunotherapy
against cancer. The leading product is UV1, a therapeutic cancer vaccine
directed against human telomerase (hTERT). The vaccine is a result of many
years of preclinical and clinical research at the Norwegian Radium Hospital.
UV1 is a synthetic peptide vaccine. The peptides included in the vaccine is
based on observation of immune responses in patients with advanced malignant
disease surviving several years after vaccination with a hTERT based
therapeutic cancer vaccine. The company is currently performing three
clinical trials with UV1. Two trials are documenting safety and the vaccines
ability to activate the immune system against cancer cells expressing the
hTERT fragments that are the components of the vaccine when given on top of
standard treatment in prostate cancer and lung cancer. A third clinical
trial is assessing safety and clinical outcomes when combining UV1 with
ipilimumab in patients with malignant melanoma.

Contact information:

PCI Biotech Holding ASA, Ullernchausséen 64, N-0379 Oslo,
Norway.www.pcibiotech.com

Per Walday, CEO,pw@pcibiotech.no, Mobile: +47 917 93 429.

Ultimovacs AS, Ullernchausséen 64, N-0379 Oslo, Norway.www.ultimovacs.com

Øyvind Kongstun Andersen, CEO,oeyvind.arnesen@ultimovacs.com, Mobile: +47 909
71 226

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

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: PCI Biotech Holding via Globenewswire

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