PCI Biotech: Company update
18 Agosto 2022 - 11:05AM
PCI Biotech: Company update
Oslo (Norway), 18 August 2022 – PCI Biotech
(OSE: PCIB), a cancer-focused biopharma company developing
innovative therapeutics that address significant unmet medical
needs, today announced that the previously reported efforts to
finance a planned Ph II trial in head and neck cancer have not
under the current market conditions resulted in a feasible way
forward.
As PCI Biotech will not conduct a
company-sponsored Ph II trial with the fimaVacc technology a
reduction of the clinical team will be enacted during the second
half of 2022. Further details about the development plans for the
non-clinical assets will be given at the upcoming Q2 reporting,
scheduled 31st August 2022. The cash position per Q2 2022 is around
NOK 76 million and the financial runway is estimated to be towards
the end of 2023.
Contact
information: Ronny
Skuggedal, Interim
CEO rs@pcibiotech.noMobile:
+47 9400 5757
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 induces triggered endosomal release that
is used to unlock the true potential of therapeutic modalities. The
fimaVacc programme aims to
enhance immunotherapy in cancer, by triggered endosomal release of
antigens or nucleic acids encoding antigens, or immunostimulatory
factors. 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
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 the Norwegian Securities
Trading Act.
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