PCI Biotech half-year interim 2025 report
Oslo (Norway), 29 August 2025 – PCI Biotech (OSE: PCIB), today announces its half-yearly 2025 interim report. Please find enclosed the interim report and presentation.
Highlights review
Operations
PCI Biotech decided on 18th August 2025 to discontinue further development of the PCL technology. The decision was primarily based on, as described in a press release the same day, insufficient progress towards the 2025 goal of demonstrating improved net yield at mini benchtop bioreactor scale. Achieving successful results at this scale was a critical risk-reducing milestone for further development.
Following the progress reported in the preliminary 2024 Interim Report and the Annual Report 2024, additional initiatives were undertaken to demonstrate PCL’s capability to increase net AAV yield in an end-to-end process. However, these efforts did not produce convincing results.
The insufficient progress also extended project timelines and increased resource requirements, elevating the overall project risk to an unacceptable level. Consequently, PCI Biotech decided to discontinue further development.
Corporate
PCI Biotech’s immediate priority is now to preserve value and evaluate the company’s future. As of the end of June 2025, the cash position of the company was NOK 13.6 million, which is expected to sustain operations into Q4 2025. There is no assurance that PCI Biotech will be able to secure additional financing. This material uncertainty casts significant doubt on PCI Biotech Holding ASA’s ability to continue as a going concern. The evaluation of the company’s future includes a range of options, including, but not limited to, a potential sale, merger, or complete wind-down of operations. Further information and updates on this process will be provided when applicable.
Ronny Skuggedal, CEO of PCI Biotech, comments: “Following the decision to discontinue the development of PCL, we are now focusing on evaluating strategic options for PCI Biotech’s future. This process is still in its early stages, and no assurance can be given about the outcome. Updates will be provided when applicable.”
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A live webcast in Norwegian will be held today, 29 August 2025, at 08:30am – 09:00am CEST (local time).
The presentation can be followed as a live webcast, accessed through the link https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250829_2 or the company’s website under “Investors – Reports and presentations – Webcasts”.
There will be a Q&A session at the end of the presentation and it will be possible to post written questions through the webcast console.
The interim report and the presentation will also be available on www.newsweb.no and on the company’s webpage, www.pcibiotech.com from 07:00am (CEST) today.
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 during first half of 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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