PCI Biotech awarded NOK 13.8 million from The Research Council of Norway to further development of PCI for use in vaccination

Oslo, Norway, January 27, 2017 PCI Biotech (OSE:PCIB), a clinical-stage company developing innovative therapeutics that address significant unmet medical needs, today announced that it has been awarded NOK 13.8 million in a BIA grant from The Research Council of Norway to the project "Photochemical vaccination – novel immunotherapy concept for treatment of cancer and infectious diseases”.

The main goal of the project is to document in a proof-of-principle clinical study in cancer patients that PCI Biotech's photochemical internalization (PCI) technology can be used to improve the efficacy of a therapeutic cancer vaccine. Other important aspects of the project is to develop the PCI technology for use in vaccination against certain types of viral and bacterial infections, and to explore the technology for use with mRNA-based vaccination.

'This grant supports further development of the promising fimaVacc technology, as well as the important vaccination application of the fimaNAc technology. Both of these applications are well suited for the development of new types of immunotherapy against cancer, and also for the prevention and treatment of some types of infectious diseases, including certain types of chronic virus infections. We are very pleased to see that the expert evaluators and the Research Council share our view on the potential of these technologies.’ says CEO in PCI Biotech, Per Walday.

The project will be initiated in Q3 2017 and run for three and a half years. The grant will cover up to 35% of the project costs and the project will be implemented in the company's current plans. The grant is subject to final contract negotiations.Established in 2006, the BIA programme is the largest industry-oriented programme at the Research council of Norway (Forskningsrådet).  This broad-based programme supports high-quality R&D projects with good business and socio-economic potential.

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 siRNA therapeutics, thereby addressing one of the major bottlenecks facing this emerging and promising field.

Contact information:   
PCI Biotech Holding ASA, Ullernchausséen 64, N-0379 Oslo, Norway.
Ronny Skuggedal, CFO, rs@pcibiotech.no, Mobile: +47 9400 5757.