PCI Biotech update on future operations

25 Sep 2025 15:36 CEST

Oslo (Norway), 25 September 2025 - PCI Biotech (OSE:PCIB) today announces an
update on the ongoing evaluation of its future operations.

Reference is made to the announcement on 18th August 2025 regarding the
discontinuation of further development of the PCL technology. The decision was
based on insufficient progress, which extended project timelines and increased
resource requirements, elevating the overall project risk to an unacceptable
level. Consequently, PCI Biotech decided to discontinue further development.

PCI Biotech's immediate priority has since been to preserve value and conduct an
evaluation of the company's future. This evaluation has focused on exploring
potential strategic alternatives, including reverse mergers or a structured
wind-down of operations.

Current operations are now focused solely on the evaluation of a new
bioprocessing technology by an undisclosed party. PCI Biotech today decided to
initiate a downsizing of personnel and extend the wind-down of operations to
align with this focus. The technology evaluation is conducted under a material
transfer agreement without financial terms.

The ongoing strategic evaluation is made with careful consideration of the
company's circumstances, and this process continues in parallel to the
technology evaluation. Further information and updates will be provided when
applicable.

For further information, please contact:
Ronny Skuggedal, CEO / CFO
Email: rs@pcibiotech.no
Mobile: +47 9400 5757

About PCI Biotech
PCI Biotech is a biopharmaceutical company focusing on developing and
commercialising new technologies and novel therapies through its photochemical
technology platform originating from world-leading research at the Oslo
University Hospital. The technology platform was until August 2025 under
development in two different areas.        (1) Photochemical lysis (PCL),
inducing selective light-triggered cell lysis, which may enhance yield and
purity in viral vector manufacturing. (2) Photochemical internalisation (PCI),
inducing light-triggered endosomal release, which may unlock the potential of a
wide array of modalities.

For further information, please visit: www.pcibiotech.com
Contact information:?PCI Biotech Holding ASA, Ullernchausséen 64, N-0379 Oslo

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.

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