Photocure ASA

Earnings Release • May 2, 2016

Photocure ASA: Enhanced cystoscopy including Blue Light Cystoscopy with Cysview®/Hexvix® is recommended in the New AUA/SUO Bladder Cancer Guideline

Photocure ASA: Enhanced cystoscopy including Blue Light Cystoscopy with Cysview®/Hexvix® is recommended in the New AUA/SUO Bladder Cancer Guideline

Oslo, Norway, May 2, 2016: Photocure ASA announced today the American Urological

Association (AUA) and the Society of Urological Oncology (SUO) have included

enhanced cystoscopy in the 2016 Guidelines for the management of non-muscle

invasive bladder cancer (NMIBC). Enhanced cystoscopy including Blue Light

Cystoscopy (BLC) with Cysview(®)/Hexvix(® )is recommended for increasing the

detection and reducing recurrence of NMIBC. The full guidelines are available:

AUA NMIBC Guidelines

"I am pleased that the new guideline recognizes the added benefits which BLC

with Cysview provides in improved tumor detection and more complete resection of

NMIBC. This is critical to reducing the risk of recurrence and progression,"

says Gary Steinberg, MD, FACS, The Bruce and Beth White Family Professor, Vice

Chairman and Director of Urologic Oncology, University of Chicago. "I believe

that urologists greatly overestimate the quality and accuracy of their

cystoscopy and transurethral resections of bladder cancer tumors (TURBT) and

underestimate the importance of a high quality initial TURBT. This may lead to

understaging, misdiagnosis and incomplete resection. In addition, an

overreliance on intravesical therapy may lead to less optimal treatment, worse

cancer outcomes and increased cost."

In addition to improved detection and management of the patient, BLC with

Cysview leads to overall cost savings as patients are likely to have longer

recurrence-free intervals therefore requiring less frequent TURBTs than patients

who receive white light cystoscopy only.

"We are very excited that the AUA/SUO has recognized the critical role of Blue

Light Cystoscopy with Cysview, based on clinical evidence, expert experience and

the positive impact that enhanced cystoscopy has on the diagnosis and management

of bladder cancer," says Kjetil Hestdal, MD, PhD, President and CEO, Photocure

ASA. "The recommendation in the new AUA/SUO guideline now makes Hexvix/Cysview

part of the major guidelines including those by the National Comprehensive

Cancer Network (NCCN), the European Association of Urology (EAU) and the

National Institute for Health and Care Excellence (NICE) in the UK."

About Bladder Cancer

Bladder cancer is the fifth most commonly diagnosed cancer and is the fourth

most common cancer found in men in the US. In 2016, it is estimated that 76,960

new cases of bladder cancer will occur along with 16,390 deaths due to bladder

cancer. Risk factors for bladder cancer include advancing age, cigarette

smoking, occupational exposure to dyes, tar, rubber and solvent, chronic bladder

irritation and infections, and prior diagnosis of bladder cancer. Bladder cancer

is one of the most expensive cancers to manage, accounting for approximately

$3.7 billion in direct costs each year.

Bladder cancer is classified into two types, nonmuscle invasive bladder cancer

(NMIBC) and muscle-invasive bladder cancer (MIBC), depending on the depth of

invasion in the bladder wall. NMIBC is still in the inner layer of cells. These

cancers are the most common (75%) of all bladder cancer cases and include the

subtypes Ta, carcinoma in situ (CIS) and T1 lesions. MIBC is when the cancer has

grown into deeper layers of the bladder wall. These cancers, including subtypes

T2, T3 and T4, are more likely to spread and are harder to treat.

Cysview(®) is tradename in U.S. and Canada, Hexvix(®) in Europe

About Photocure ASA

Photocure, headquartered in Oslo Norway, is a specialty pharmaceutical company

and world leader in photodynamic technology. Based on our unique proprietary

Photocure Technology(®) platform, Photocure develops and commercializes highly

selective and effective solutions within disease areas with high unmet medical

need, such as bladder cancer, HPV and precancerous cervical lesions, and skin

conditions. Our aim is to provide solutions which can improve health outcomes

for patients worldwide. Photocure is listed on the Oslo Stock Exchange (OSE:

PHO). Information about Photocure is available at www.photocure.com.

For more information, please contact:

Media relations:

Amanda Merced

MCS Healthcare Public Relations

Tel: +1 908 234 9900

Email: amandam@mcspr.com

Company contacts:

Kjetil Hestdal

President and CEO

Tel: +47 913 19 535

Email: kh@photcure.no

Erik Dahl

Chief Financial Officer

Tel: +47 450 55 000

Email: ed@photocure.no

Investor relations:

Trout International LLC

Lauren Williams

Tel: +44 20 3780 4972

Email: lwilliams@troutgroup.com

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#2008836]