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Highlights review
Operations
The use of fimaNAc in gene therapy manufacturing has since its inception in
2022 generated results supporting the notion of applying photochemical methods
to increase yield and reduce impurities in bioprocessing, specifically viral
vector manufacturing.
The most recently reported 2023 milestone was initiation of field testing in Q4
with an international life science group that provides a range of products and
services to the biopharmaceutical industry. The results from this field testing
warrant further development of the technology.
To fully focus resources on development of an enabling technology for gene
therapy manufacturing, further development of fimaNAc in dermatology is limited
to be pursued by collaborations.
Corporate
The cash position of NOK 41.2 million is estimated to support operations into
2025 with current plans.
Ronny Skuggedal, CEO of PCI Biotech, comments: “We have in 2024 received
encouraging external feedback from early-stage field testing, applying our novel
photochemical technology in viral vector manufacturing. This is considered a
green light for further development of our platform, as it confirms the
technology’s potential to increase yield and reduce impurities in viral vector
production. Focus for 2024 is scaling the technology further towards processes
that are more representative for commercial manufacturing.”
A live webcast in Norwegian will be held today, 14 February 2024, at 08:30am -
09:30am CET (local time).
The presentation can be followed as a live webcast, accessed through the link
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240214_7 or the
company’s website under “Investors - Reports and presentations - Webcasts”.
There will be a Q&A session at the end of the presentation and it will be
possible to post written questions through the webcast console.
The interim report and the presentation will also be available on www.newsweb.no
and on the company’s webpage, www.pcibiotech.com from 07:00am (CET) today.
For further information, please contact:
Ronny Skuggedal, CEO / CFO
Email: rs@pcibiotech.no
Mobile: +47 9400 5757
About PCI Biotech
PCI Biotech is a biopharmaceutical company focusing on development and
commercialiastion of novel therapies and new technologies through its innovative
photochemical technology platform. The platform is under development in two
different areas. (1) Photochemical internalisation (PCI), inducing light-
triggered endosomal release, which may unlock the potential of a wide array of
modalities. (2) Photochemical lysis (PCL), inducing selective light-triggered
cell lysis, which may enhance yield and purity in viral vector manufacturing.
These platform technologies are employed in two distinct programmes. The fimaNAc
programme is focused on selected applications within bioprocessing and
dermatology that are well suited to the specific strengths of the platform
technology. The fimaVacc programme aims to enhance intratumoural immunotherapy
by triggered endosomal release of antigens or nucleic acids encoding antigens,
or immunostimulatory factors. For further information, please visit:
www.pcibiotech.com.
Contact information: PCI Biotech Holding ASA, Ullernchausséen 64, N-0379
Oslo
Forward-looking statements
This announcement may contain forward-looking statements, which as such are not
historical facts, but are based upon various assumptions, many of which are
based, in turn, upon further assumptions. These assumptions are inherently
subject to significant known and unknown risks, uncertainties and other
important factors. Such risks, uncertainties, contingencies and other important
factors could cause actual events to differ materially from the expectations
expressed or implied in this announcement by such forward-looking statements.
PCI Biotech disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Ronny Skuggedal, CEO, PCI Biotech Holding ASA, on
February 14, 2024 at 07:00 CET.
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