PhotoCure - Results 3rd quarter 2001

- The commercialisation of Metvix® Photodynamic Therapy (PDT) is progressing as expected. The Metvix® PDT "World Launch Symposium" was held in Stockholm, Sweden on the 18th of October with more than 90 participating dermatologist from all over Sweden. Metvix® licensing negotiations for the markets outside of the Nordic countries are ongoing. A new drug application for Metvix® PDT was filed with the FDA in the USA on 26th of September. Marketing Authorisation Applications are also pending in 16 EU/EEA countries, Australia and New Zealand. The positive responses from EU/EEA countries regarding their recognition of the Swedish marketing authorisation are expected later this year.
- Development of Hexvix® for the photodiagnosis (PD) of bladder cancer is progressing as planned. Patient enrollment started in early October for the Phase III programme, based on the very promising Phase II results.
- PCI Biotech continues commercial development of its first products for the international research market.

- Total expenses of NOK 30.8 million and a net loss of NOK 22.5 million for the 3 months ending 30th of September 2001 were according to plan. Liquid funds totalled NOK 342.4 million as of 30th of September 2001.

Professor Vidar Hansson, PhotoCure's CEO and President, commented on the third quarter results:
"We are proud that we now are a step closer to commercialisation in the worlds largest market through the filing of Metvix® PDT in US. We are also extremely satisfied with a successful world launch of Metvix® PDT in Stockholm, Sweden in October. There is already a huge interest in the market for the method. We are also glad to announce that the Hexvix® clinical programme for diagnosing bladder cancer has so quickly moved into
phase III."

PhotoCure ASA is a Norwegian listed company with the mission is to develop and sell pharmaceuticals and medical devices based on proprietary photodynamic technologies. The company develops products for skin cancer and other skin diseases, internal cancer, gene therapy and cancer vaccines. Its Metvix® and Curelight products were developed for the treatment of basal cell carcinoma (skin cancer) and actinic keratosis (pre-cancerous skin lesions). PhotoCure's second pharmaceutical product, Hexvix®, is currently undergoing clinical phase III trials for bladder cancer detection.

PCI Biotech AS was established as a subsidiary of PhotoCure ASA in order to develop and commercialise new transfection technologies for the research market as well as products for oncology and gene therapy.

The full quarterly report and presentation is available on our web site under Investor Relations.

Presentation of 3rd quarter 2001

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