PCI Biotech appoints Dr Hans Olivecrona as Chief Medical Officer

Oslo (Norway), 23 August 2017 - PCI Biotech (OSE: PCIB), a cancer focused biopharmaceutical company is pleased to announce the appointment of Dr. Hans Olivecrona MD PhD as Chief Medical Officer (CMO). Dr Olivecrona will also serve as a member of PCI Biotech's executive management team. He will lead the execution of all clinical development programmes, and be a key contributor to the identification and implementation of new opportunities and pipeline expansions.

Dr Olivecrona brings extensive experience in the development and commercialisation of novel therapeutics. In his most recent role, Dr. Olivecrona held the position as Senior Medical Director at Swedish Orphan Biovitrum (Sobi AB) in Stockholm, Sweden, with the responsibility for medical affairs and all medical aspects of business development for Sobi's international partner product portfolio. Prior to this, Dr Olivecrona held various positions spanning from preclinical and clinical development to regulatory interactions. Dr Olivecrona has a PhD from the Karolinska Institute and his work experience includes 20 years of academic clinical background, mainly within oncological surgery with a specialty in gastrointestinal cancers. Dr Olivecrona also headed a hospital research facility and is the author of numerous scientific publications.

Per Walday, CEO, comments: "We are delighted to welcome Dr Olivecrona to PCI Biotech. With his broad scientific, clinical and business development background he will bring important knowhow and experience to our organisation, as we move towards a potential pivotal development phase for our lead programme fimaChem. "

Dr Hans Olivecrona added: "I am very excited to be joining PCI Biotech at what is clearly an important stage for the company. The encouraging fimaChem Phase I data in inoperable perihilar bile duct cancer may pave the way for expedited development and market entrance to the benefit of this underserved patient population. I am also very much looking forward to working on the development of the exciting fimaVacc and fimaNac assets."

Contact information:                 
Per Walday, CEO
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.