Photocure ASA has signed a new, three-year research collaboration agreement with the Norwegian Radium Hospital Research Foundation. The agreement replaces a similar three-year agreement, which expires in 2007.

The collaboration agreement reflects the close collaboration between Photocure and the researchers at the Rikshospitalet-Radiumhospitalet Medical Center. Through research grants, the collaboration agreement assures Photocure first right of refusal to new inventions made by the researchers within photodynamic therapy and diagnostics. Photocure has the option to extend the agreement with two years at the end of the three year period.

Photocure's subsidiary, PCI Biotech AS, has signed a similar agreement with the Radium Hospital Research Foundation. This agreement gives PCI Biotech first right of refusal to new technology regarding delivery of molecules to intracellular targets developed by the researchers at the Norwegian Radium Hospital.

Kjetil Hestdal, M.D. Ph.D., President and CEO of Photocure, comments: "Our existing products are, to a large extent, based on patents from researchers at the Radium Hospital. We believe that new research will emerge from the competent light and chemistry research group at the Radium Hospital, and we are pleased to remain in a position where we can develop these new inventions commercially."

Jónas Einarsson, Managing Director at the Radium Hospital Research Foundation, adds: "We are pleased to see that the good cooperation between Photocure and the researchers at the Norwegian Radium Hospital continue. This type of work permits good research results at the hospital to be developed into final products that can be used to the benefit of the patients."