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 Holding ASA has decided to discontinue the development of its photochemical lysis (PCL) technology for viral vector manufacturing due to insufficient progress towards its 2025 goals [1][3] Group 1: Development Progress - The company aimed to demonstrate improved yield in mini benchtop bioreactors by 2025, but efforts have not yielded convincing results [1][2] - Additional initiatives were undertaken following the preliminary 2024 Interim Report and the Annual Report 2024, but these did not lead to satisfactory outcomes [2] Group 2: Project Risks and Financial Position - Insufficient progress has extended project timelines and increased resource requirements, raising the overall project risk to an unacceptable level [3] - As of June 2025, PCI Biotech's cash position was NOK 13.6 million, which is expected to sustain operations into Q4 2025, but there is uncertainty regarding the ability to secure additional financing [4] - The company is evaluating its future, considering options such as a potential sale, merger, or complete wind-down of operations [4]