Photocure receives a grant of NOK 4.3 mill from the Norwegian Research Counsel

Oslo, Norway, 13 February 2009.

Photocure was rewarded NOK 4.3 mill (~€ 0.5 mill) over 3 years from the BIA program of the Norwegian Research Counsel (NFR). The BIA program supports highly innovative projects that create value to both the company and society. Photocure has received funding for the project "Development of a drug and light source for photodynamic therapy (PDT) of precancerous lesions of the cervix".

Photocure plans to develop a product for treatment of abnormal cervical cells caused by persistent virus infection (HPV). Severe cellular abnormalities may develop into cervical cancer if not treated in time. Today's surgical therapy increases the risk of bleeding, infections and preterm labour in later pregnancies, which is avoided with the use of PDT. The PDT technology also has potential use in treatment of virus infections with mild cervical abnormalities.

The BIA funding will be used to develop a patented combination product that will simplify the PDT-procedure significantly. The research project will use existing knowledge acquired by Photocure during previous development of Cevira, followed by investigational clinical studies.

Dr. Kjetil Hestdal, President and CEO of Photocure, comments: "The funding from NFR is important for Photocure. The support gives financial backing in a critical phase of the Cevira project. The BIA program is important for innovative projects like Cevira, with a high market potential, to succeed. We are pleased that a competent third party like NFR shares our view that photodynamic therapy is an important part of medical technology for the future".

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