PCI Biotech: Prospectus approved Oslo, December

Oslo, December 13, 2016 - Reference is made to the Stock Exchange Notices published by PCI Biotech Holding ASA («PCI Biotech» or the «Company») on 17 November and 8 December 2016 regarding a guaranteed rights issue of 10 million new shares (the «Rights Issue») at a subscription price of NOK 7 per new share.

The Financial Supervisory Authority of Norway (Nw. "Finanstilsynet") has today approved the prospectus dated 13 December 2016 (the "Prospectus") in connection with the Rights Issue.

The Prospectus will be published electronically tomorrow, 14 December 2016 (at which date the subscription period commences), on the Company's website ( www.pcibiotech.no/share-info/ ) and on the website of the Manager, Fondsfinans AS ( www.beringerfinance.com/deals/#filter=.ongoing ). A paper copy of the prospectus may then also be obtained, free of charge, at PCI Biotech Holding ASA, Ullernchausséen 64, 0379 Oslo and at Fondsfinans AS, Haakon VII's gate 2, 0122 Oslo.

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

Important Notice 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. This publication is not an offer for sale of or the solicitation of an offer to purchase securities in the United States. The Offer Shares and the Subscription Rights have not been registered under the U.S. Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold within 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: fima Chem (enhancement of chemotherapeutics for localised treatment of cancer), fima Vacc (T-cell induction technology for therapeutic vaccination), and fima NAc (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 fima Chem 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.  fima Vacc 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.   fima NAc 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

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.