PCI Biotech Full year 2024 Provisional results

Oslo (Norway), February 27, 2025 – PCI Biotech (OSE: PCIB), today announces its preliminary results throughout the year 2024. Please find the interim report and presentation annexed.

Review of records

Operations
The 2024 Biotech’s 2024 development goals were to demonstrate the scalability and benefits of the photochemical technology (PCL) manufacturing process in viral vector manufacture (AAV), advanced technology in mini-bioreactors, which are considered representative for commercial production.

The recent results of the mini -benchtop bioreactor indicate that PCL has the potential to release increased levels of viral vectors in the AAV manufacturing process, accompanied by low levels of impurity. This is an important stage for PCL and we consider the PCL scalability, as demonstrated by the encouraging outstream results.

These results are expected to translate into a net production yield after downstream processing, a feature extremely sought after by the industry. However, several rolling in mini bioreactors with a robust downstream process are needed to demonstrate PCL’s ability to increase the net AAV yield in an end-to-end process.

The new Mini Biorector Benchtop runs to reproduce the recent positive results upstream and to demonstrate the benefits of the downstream process are in preparation. The successful results can open the way for the external test of the land in late stage in 2h 2025 and can do the technology ready for the research market. A 2 -year development plan to mark the PCL preparation for the larger commercial market is in planning.

Corporatist
The cash position of 27.1 million NOK on the end of December 2024 is estimated to support operations in the 4th quarter with current plans, offering an opportunity window to demonstrate the commercial potential of the technological platform. The company will continue to explore financing and strategic opportunities to ensure continuous operations.

Ronny Skuggedal, CEO of PCI Biotech, comments: “After receiving the encouragement of the field test feedback in the early stage in early 2024, I accelerated the development until the extension until mini-biorector benchop. Now, by encouraging the results in two tests of testing, we believe that PCL scalability has been demonstrated in the bioreactor. The results of the increase of the net manufacturing efficiency after the downstream processing. The challenges of capacity on the manufacturing market of the viral commercial vector. “

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A Live WebCast in Norwegian will take place today, February 27, 2025, at 08:30 – 09:00 AM CET (local time).

Presentation can be followed as a live web transmission, accessed by link or the site of the company under “investors – reports and presentations – web transmissions”.

At the end of the presentation, a session of questions and questions will be possible and it will be possible to post written questions through the webcast console.

The provisional report and presentation will also be available on www.newsweb.no and on the company’s web page, www.pcibiotech.com from 07:00 (CET) today.

For further information, please contact:
Ronny Skuggedal, CEO / CFO
E -mail: [email protected]
Mobile: +47 9400 5757

About PCI biotechnology
PCI Biotech is a biopharmaceutical company that focuses on developing and marketing new technologies and therapies through its photochemical technology platform from world leaders at the Oslo University Hospital. The technological platform is developing in two different fields. (1) Photochemical lysis (PCL), which induces selective cell lysis triggered by light, which may increase yield and purity in the manufacture of viral vector. (2) Photochemical internalization (PCI), which induces an endosomal release triggered by light, which can unlock the potential of a wide range of modalities.

For further information, please visit: www.pcibiotech.com
Contact information:

Prospective statements
This announcement may contain prospective statements, which, as such, are not historical facts, but are based on various assumptions, many of them based, in turn, on additional hypotheses. These hypotheses are inherently subject to risks, significant known and unknown uncertainties and other important factors. Such risks, uncertainties, contingencies and other important factors could cause real events to differ significantly from the expectations expressed or involved in this announcement through such prospective statements. PCI Biotech gives up any obligation to update or review any prospective statements, either as a result of new information, future or otherwise.

This information is subject to the disclosure requirements in accordance with section 5-12 of the Law on Norwegian Securities Transactions.

PCI Biotech 2H 2024 Provisional report

PCI Biotech presentation 2H 2024