The impact of avoiding recurrence: New BRAVO Study abstract at SUO 2025 demonstrates Cost Neutrality in Blue Light versus White Light Cystoscopy comparison

08 Dec 2025 08:00 CET

Press Release - Oslo, Norway, December 8th, 2025: Photocure ASA (OSE: PHO), the
Bladder Cancer Company, announces the presentation of a health economics
abstract from the BRAVO study at the Society of Urologic Oncology 2025 Annual
Meeting (SUO) December 2-5, 2025, in Phoenix, AZ. The abstract "COSTS OF CARE
AND ONCOLOGIC OUTCOMES ASSOCIATED WITH BLUE LIGHT CYSTOSCOPY IN AN EQUAL ACCESS
SETTING: RESULTS FROM THE BRAVO STUDY" compares costs in non-muscle-invasive
bladder cancer (NMIBC) care, incurred by white light cystoscopy (WLC) versus
blue light cystoscopy (BLC[®]). Results of the real-world evidence study show
that while BLC was associated with higher initial costs of treatment than WLC,
lower recurrence rates in the BLC patient cohort drive cost neutrality overall.

"Bladder cancer is associated with high treatment costs. A significant portion
of cost is related to the high rates of cancer recurrence. In our study,
utilization of BLC in the management of NMIBC was associated with modestly
higher healthcare costs compared to white light. However, the majority of cost
was related to increased use of guideline recommended intravesical therapy in
the BLC cohort due to early detection of tumor. Early detection facilitated by
BLC, appropriate intravesical therapy, and reduced recurrence significantly
narrowed the cost differential that approached net cost neutrality compared to
WL while providing superior clinical outcomes. These findings provide real-world
cost data to aid in the decision-making process for utilizing BLC particularly
in the care of high-risk NMIBC patients," said Dr. Steven Williams, Professor
and Chief of the Division of Urology, at the University of Texas-Medical Branch,
and one of the study authors.

The BRAVO study (Bladder Cancer Recurrence Analysis in Veterans and Outcomes) is
a propensity score matched, retrospective analysis evaluating outcomes following
BLC compared to WLC alone in 622 patients from the Veterans Affairs Healthcare
System. The primary objective was to determine the difference in total
healthcare costs over 1, 2, and 5-year intervals with available cost data. A
cost-offset analysis was performed addressing multiple aspects of BLC healthcare
costs including the financial impacts of recurrence avoidance. The Veterans'
Affairs (VA) Healthcare system accepts all U.S. Veterans, regardless of
financial background, and retains its patients, allowing for high-quality data
capture over a long-term follow-up period, therefore serving as a robust real
-world model for equal access.

Results:

· BLC vs. WLC patients were more likely to receive intravesical BCG (61 vs
43%; p<0.01) and intravesical chemotherapy (49% and 28%, p<0.01), respectively.
· BLC use was associated with decreased risk or recurrence (HR 0.62, p<0.01)
· Initial total costs over 5 years were higher in the BLC group ($108,411 vs
$66,734; p<0.01), with outpatient costs being the main driver ($90,788 vs
$55,529; p<0.01).
· A cost-offset analysis showed that the 5-year costs of BLC exposure were
only $721 more per person versus WLC due to shorter hospital stays, fewer
emergency visits, and fewer recurrence events.

Conclusions: In a real-world equal-access setting, initial 5-year total costs
for BLC were higher, mostly driven by outpatient costs likely related to
increased utilization of intravesical therapies and closer surveillance in BLC
patients. However, given lower recurrence rates with BLC and accounting for the
costs of treating recurrence, the adjusted cost difference approaches net
neutral.

"The BRAVO results, showing that BLC reduces recurrence vs WLC in a cost
efficient way, is consistent with other real world studies such as e.g. the
recently published business impact model in 4 European countries
 (https://www.photocure.com/news/new-budget-impact-model-study-in-4-european
-countries-concludes-that-blc-use-offers-a-clinically-meaningful-and
-economically-rational-approach-to-nmibc-management-5256904)BLC helps improving
quality of NMIBC care, benefiting both patients and healthcare providers while
managing costs," said Anders Neijber, Chief Medical Officer of Photocure.

Read the study abstract here: https://suo-abstracts.secure
-platform.com/a/gallery/rounds/24/details/4541

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About Bladder Cancer
Bladder cancer ranks as the 8[th] most common cancer worldwide - the 5[th] most
common in men - with 1 949 000 prevalent cases (5-year prevalence rate)[1a],
614 000 new cases and more than 220 000 deaths in 2022.[1b]
Approx. 75% of all bladder cancer cases occur in men.[1] It has a high
recurrence rate with up to 61% in year one and up to 78% over five years.[2]
Bladder cancer has the highest lifetime treatment costs per patient of all
cancers.[3]
Bladder cancer is a costly, potentially progressive disease for which patients
have to undergo multiple cystoscopies due to the high risk of recurrence. There
is an urgent need to improve both the diagnosis and the management of bladder
cancer for the benefit of patients and healthcare systems alike.
Bladder cancer is classified into two types, non-muscle invasive bladder cancer
(NMIBC) and muscle-invasive bladder cancer (MIBC), depending on the depth of
invasion in the bladder wall. NMIBC remains in the inner layer of cells lining
the bladder. These cancers are the most common (75%) of all BC cases and include
the subtypes Ta, carcinoma in situ (CIS) and T1 lesions. In MIBC the cancer has
grown into deeper layers of the bladder wall. These cancers, including subtypes
T2, T3 and T4, are more likely to spread and are harder to treat.[4]

[1 ]Globocan. a) 5-year prevalence / b) incidence/mortality by population.
Available at: https://gco.iarc.fr/today, accessed [February 2024].
[2 ]Babjuk M, et al. Eur Urol. 2019; 76(5): 639-657
[3 ]Sievert KD et al. World J Urol 2009;27:295-300
[4 ]Bladder Cancer. American Cancer Society.
https://www.cancer.org/cancer/bladder-cancer.html

About Hexvix[®]/Cysview[®] (hexaminolevulinate HCl)
Hexvix/Cysview is a drug that preferentially accumulates in cancer cells in the
bladder, making them glow bright pink during Blue Light Cystoscopy (BLC[®]). BLC
with Hexvix/Cysview, compared to standard white light cystoscopy alone, improves
the detection of tumors and leads to more complete resection, fewer residual
tumors, and better management decisions.
Cysview is the tradename in the U.S. and Canada, Hexvix is the tradename in all
other markets. Photocure is commercializing Cysview/Hexvix directly in the U.S.
and Europe and has strategic partnerships for the commercialization of
Hexvix/Cysview in China, Chile, Australia, New Zealand and Israel. Please refer
to https://photocure.com/partners/our-partners for further information on our
commercial partners.
The following safety information is solely included to comply with U.S.
regulatory requirements: Important Risk & Safety Information for Cysview[®]
(hexaminolevulinate HCl) (https://rebrand.ly/BRAVO2-PressRelease-Cysview-ISI
-FullPI)

About Photocure ASA
Photocure: The Bladder Cancer Company delivers transformative solutions to
improve the lives of bladder cancer patients. Our unique technology, making
cancer cells glow bright pink, has led to better health outcomes for patients
worldwide. Photocure is headquartered in Oslo, Norway and listed on the Oslo
Stock Exchange (OSE: PHO). For more information, please visit us at
www.photocure.com/news.

For more information, please contact:

Dan Schneider
President and CEO
Photocure ASA
Email: ds@photocure.com

Erik Dahl
CFO
Photocure ASA
Tel: +47 45055000
Email: ed@photocure.com

Priyam Shah
Vice President Investor Relations
Tel : +17176815072
Email: priyam.shah@photocure.com

Media enquiries:

Geir Bjørlo
Corporate Communications (Norway)
Tel: +47 91540000
Email: geir.bjorlo@corpcom.no

More information:
Access the news on Oslo Bors NewsWeb site

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