PCI Biotech Holding — Capital/Financing Update 2016

Nov 17, 2016

PCI Biotech: Notice to the extraordinary general meeting to resolve a fully underwritten Rights Issue of NOK 70 million

PCI Biotech: Notice to the extraordinary general meeting to resolve a fully underwritten Rights Issue of NOK 70 million

Oslo, November 17, 2016 - Reference is made to PCI Biotech Holding ASA's ("PCI

Biotech" or the "Company") stock exchange announcement earlier today that the

Company convenes an extraordinary general meeting to propose a fully

underwritten Rights Issue of NOK 70 million. The Board of Directors has resolved

to call for an extraordinary general meeting (the "EGM") to be held on 8

December 2016 to resolve the Rights Issue. The notice of the EGM is attached.

Important Notice

The contents of this announcement have been prepared by, and are the sole

responsibility of, the Company. The Company's financial advisors are acting

exclusively  for  the  Company  and  no  one  else, and will not be responsible

to  anyone  other  than  the  Company for providing the protections afforded  to

their respective clients, or for advice in  relation to the Rights Issue, the

contents  of this  announcement or  any of  the matters  referred to herein. The

Rights Issue and the distribution of this announcement and other information in

connection with the Rights Issue may be restricted by law in certain

jurisdictions. The Company assumes no responsibility in the event there is a

violation by any person of such restrictions. Persons into whose possession this

announcement or such other information should come are required to inform

themselves about, and to observe, any such restrictions.

The Rights Issue will not be made in any jurisdiction or in any circumstances in

which such offer or solicitation would be unlawful. This announcement is not for

distribution, directly or indirectly in or into any jurisdiction in which it is

unlawful to make any such offer or solicitation to such person or where prior

registration or approval is required for that purpose. No steps have been taken

or will be taken relating to the Rights Issue in any jurisdiction outside of

Norway in which such steps would be required. Neither the publication and/or

delivery of this announcement shall under any circumstances imply that there has

been no change in the affairs of the Company or that the information contained

herein is correct as of any date subsequent to the earlier of the date hereof

and any earlier specified date with respect to such information.

This publication is not for distribution, directly or indirectly, in or into the

United States, nor is it an offer for sale of or the solicitation of an offer to

purchase securities in the United States. Any securities referred to herein have

not been registered under the U.S. Securities Act of 1933, as amended (the "U.S.

Securities Act"), and may not be offered or sold in the United States absent

registration or pursuant to an exemption from registration under the U.S.

Securities Act. Copies of this publication are not being, and may not be,

distributed or sent into the United States.

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 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.

For more information visit: www.pcibiotech.com

Contact information: PCI Biotech Holding ASA, Ullernchausséen 64, N-0379

Oslo

Per Walday, CEO, pw@pcibiotech.no, Mobile: +47 917 93 429

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.