PCI Biotech Holding ASA The company has developed a unique and patented photochemical drug delivery technology for use in cancer therapy and other diseases. We are a technology for light-directed drug delivery by triggered endosomal release and was developed to introduce therapeutic molecules in a biologically active form specifically into diseased cells. This proprietary technology can provide local enhancement of a range of different drugs, including several cancer drugs currently in clinical use. The company is developing via 2 axes; 1)develop the proprietary photosensitiser Amphinex® for use in combination with marketed cancer drugs and 2)develop PCI for use in other areas. The company has completed a clinical phase I/II study with Amphinex in combination with the well-established cytotoxic agent bleomycin at University College Hospital in London. The study has primarily enrolled patients with Head & Neck cancer, a disease with local control issues that the PCI technology could potentially contribute to solve. Strong tumour response was observed in all patients, and a phase II study within Head & Neck cancer is planned to start in Q4 2011/Q1 2012. Pre-clinical studies have demonstrated positive effects with Amphinex used in combination with the cancer drugs docetaxel (Taxotere®), gemcitabine (Gemzar®) and erlotinib (Tarceva®) and the company aim to start Proof of Concept studies with Amphinex used in combination with 1-2 of these drugs (subject to further evaluation) in 2012/2013. The company has initiated a pre-clinical research program to investigate the use of PCI with vaccines. The first set of results performed at NTNU in Norway indicates a good technical fit for PCI within this area. The strategy is to establish proof-of-principle for both in vivo and ex vivo vaccination. Further experiments will be performed at University Hospital Zurich, Switzerland. The results on proof-of-principle are expected in 2012. The company collaborates closely with The Norwegian Radium Hospital in Oslo, Norway and receives substantial funding on several projects from both the Norwegian Research Council and the EU. The company has an extensive international collaboration network with recognised drug delivery expert groups.