PCI Biotech: CEO resigns to assume new position

Oslo (Norway), 28 March 2022 – PCI Biotech (OSE: PCIB) announces today that CEO, Dr Per Walday has resigned to assume a new position. Dr Walday has a notice period of six months, and he will step down from his position by the end of September 2022, or earlier. The Board of Directors will initiate a succession process.

“On behalf of the entire company, I wish Dr Walday all the best in his new endeavours and sincerely thank him for his 14 years period as CEO of PCI Biotech. Per will surely be missed by us all”, says Hans Peter Bøhn, Chairperson of the Board of Directors.

“I look forward to assuming a new position but will thoroughly miss all my fantastic colleagues at PCI Biotech. It has been a long and exciting journey for me, but it is time to let someone else take the helm of PCI Biotech. The company has a very strong and competent team and an exciting technology platform with strong data supporting applications within important emerging therapeutic modalities. I am confident that the team will succeed in delivering value to both patients and shareholders, and I will follow the company’s path and progress closely”, says Per Walday, CEO.

For further information, please contact:Hans Peter Bøhn, Chairperson of the Board of DirectorsEmail: hpb@samfond.noMobile: +47 9171 1597

About PCI Biotech          PCI Biotech is a biopharmaceutical clinical stage development company focusing on development and commercialisation of novel therapies for the treatment of cancer through its innovative photochemical internalisation (PCI) technology platform. PCI induces triggered endosomal release that is used to unlock the true potential of therapeutic modalities.

The company’s lead programme fimaVacc aims to enhance immunotherapy in cancer, by triggered endosomal release of antigens or nucleic acids encoding antigens, or immunostimulatory factors. Enhancement of relevant immune responses with protein- and peptide-based vaccines were successfully demonstrated in humans through an extensive Phase I study in healthy volunteers and a Phase II study is in planning with the aim to demonstrate enhancement of immunotherapy for treatment of solid tumours. In the fimaNAc programme endosomal release is utilised to provide intracellular delivery of nucleic acids, such as mRNA and RNAi therapeutics, thereby addressing one of the major bottlenecks facing this emerging and promising field.

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

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