Oslo, Norway, April 20, 2026 - Reference is made to Photocure ASA's (OSE: PHO)
announcement dated 3 March 2026, in which the Company noted that its partner,
Asieris Pharmaceuticals (SSE: 688176), had announced receipt of the Drug
Registration Certificate from China's National Medical Products Administration
(NMPA) for its core product APL-1702 (trade name: CEVIRA®). This approval
enables commercial launch in China. Photocure further confirmed in this
announcement that with Cevira's regulatory approval in China it is entitled to a
milestone payment.
Photocure has in accordance with its license agreement with Asieris invoiced the
applicable milestone payment of $11M USD. Asieris has made a partial payment of
$6.6M USD. Asieris has indicated that the partial payment reflects its position
that the approved label obtained for Cevira in China is insufficient to trigger
the full milestone amount.
While Photocure seeks to maintain constructive dialogue with Asieris, the
Company believes that Asieris' position is without merit and the milestone
trigger is met. Photocure will assess all available measures and take all
appropriate actions to pursue full payment by Asieris in accordance with the
license agreement.
For further information, please contact:
Dan Schneider
President and CEO
Photocure ASA
Email: ds@photocure.com
Priyam Shah
Vice President Investor Relations
Tel : +17176815072
Email: priyam.shah@photocure.com
Media enquiries:
Geir Bjørlo
Corporate Communications (Norway)
Tel: +47 91540000
Email: geir.bjorlo@corpcom.no
About Photocure ASA
Photocure: The Bladder Cancer Company delivers transformative solutions to
improve the lives of bladder cancer patients. Our unique technology, which makes
cancer cells glow bright pink, has led to better health outcomes for patients
worldwide. Photocure is headquartered in Oslo, Norway, and listed on the Oslo
Stock Exchange (OSE: PHO). For more information, please visit us at
www.photocure.com, www.hexvix.com or www.cysview.com.
Important Information
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Tolv Hillestad, Photocure ASA on the time and date
set out above.
The distribution of this announcement and other information may be restricted by
law in certain jurisdictions. Copies of this announcement are not being made and
may not be distributed or sent into any jurisdiction in which such distribution
would be unlawful or would require registration or other measures. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.
Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although Photocure believes that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict and are beyond its control.
The information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without notice.
Photocure undertakes no obligation to review, update, confirm, or to release
publicly any revisions to any forward-looking statements to reflect events that
occur or circumstances that arise in relation to the content of this
announcement.
This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of Photocure. Neither Photocure nor
its representatives accept any liability arising from the use of this
announcement.
This information is subject to the disclosure requirements pursuant to Section 5
-12 the Norwegian Securities Trading Act.