Oslo (Norway), 29 January 2026 – PCI Biotech (OSE: PCIB) refers to its latest announcement of 8 January 2026 regarding the discontinuation of all R&D operations and the continued exploration of strategic alternatives. This evaluation has now been concluded. Following careful consideration of the PCI Biotech group’s circumstances, the Board has resolved to initiate a process to evaluate the opportunity for a structured wind-up. The liquidity position of the PCI Biotech group remains critical, casting signifi ...

Core Viewpoint - PCI Biotech has concluded its external evaluation of a new bioprocessing technology with no prospects for further collaboration, leading to the discontinuation of all R&D operations due to limited interest [1]. Group 1: Company Operations - The company has explored various strategic alternatives in recent months, including a potential merger or a structured wind-up of operations [2]. - All R&D operations will be discontinued as the company's limited operations were contingent upon sustained external interest [1]. Group 2: Financial Position - The liquidity position of PCI Biotech remains critical, with no assurance that additional financing can be secured, raising significant doubts about the company's ability to continue as a going concern [3].

Core Insights - PCI Biotech is currently evaluating a new bioprocessing technology under a material transfer agreement, with no financial terms disclosed [1] - The company's future is heavily dependent on the ongoing technology evaluation, and there are currently no discussions regarding strategic alternatives [2] - The liquidity position of PCI Biotech is critical, raising doubts about its ability to continue as a going concern [2] - The management structure has been streamlined, with only the CEO position remaining in the parent company, while the subsidiary has opted not to have a CEO [3] Company Overview - PCI Biotech is a biopharmaceutical company focused on developing and commercializing new technologies and therapies through its photochemical technology platform, which is based on research from Oslo University Hospital [4] - The technology platform includes two main areas: Photochemical lysis (PCL) for enhancing yield and purity in viral vector manufacturing, and Photochemical internalization (PCI) for enabling light-triggered endosomal release [4]

Core Points - PCI Biotech has announced an update regarding the evaluation of its future operations following the discontinuation of the PCL technology development due to insufficient progress and increased project risks [2][3] - The company's immediate priority is to preserve value while exploring strategic alternatives, including reverse mergers or a structured wind-down of operations [3][4] - Current operations are now focused on evaluating a new bioprocessing technology from an undisclosed party, leading to a decision to downsize personnel and extend the wind-down of operations [4][5] Company Overview - PCI Biotech is a biopharmaceutical company that develops and commercializes new technologies and therapies through its photochemical technology platform, which originated from research at the Oslo University Hospital [5]

Core Viewpoint - PCI Biotech has decided to discontinue the development of its PCL technology due to insufficient progress towards its 2025 goals, which has raised project risks and extended timelines [2][3]. Operations - The decision to halt PCL development was made on August 18, 2025, primarily due to a lack of convincing results in demonstrating improved net yield at mini benchtop bioreactor scale [2][3]. - Additional initiatives aimed at showcasing PCL's capability to enhance net AAV yield did not yield satisfactory outcomes, leading to increased resource requirements and overall project risk [3]. Corporate - As of June 30, 2025, PCI Biotech's cash position was NOK 13.6 million, which is projected to sustain operations into Q4 2025 [4]. - The company is currently evaluating its future, considering options such as a potential sale, merger, or complete wind-down of operations [4]. - CEO Ronny Skuggedal emphasized that the evaluation process is in its early stages, and no assurances can be provided regarding the outcome [5].

Core Points - PCI Biotech will present its first half 2025 interim report via a webcast on 29 August 2025 from 08:30am to 09:00am CET [1] - The presentation will be conducted in Norwegian and will be accessible through the company's website [1] - A Q&A session will follow the presentation, with questions accepted via email prior to the webcast and during the session [2] - The interim report and presentation materials will be available on the company's website and news platform from 07:00am CET on the same day [2] Contact Information - For further inquiries, Ronny Skuggedal, CEO/CFO, can be contacted via email or mobile [2] - The company's contact address is PCI Biotech Holding ASA, Ullernchausséen 64, N-0379 Oslo [2]