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PhotoCure - Second Quarter Report 2006

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Oslo, Norway, August 15th, 2006


Highlights:
 
  • GE Healthcare exercised an option to market and distribute Hexvix® in the US in July. This triggered a milestone payment of EUR 9 million.
  • PhotoCure settled the patent dispute with DUSA pharmaceuticals.
  • Sales revenues in second quarter amounted to NOK 11.7 million (8.9), an increase of 31 %.
  • The loss in second quarter amounted to NOK -1.0 million (-7.2).
  • Liquid assets amounted to NOK 282.9 million (100.1) at the end of the period.


President and CEO of PhotoCure, Dr. Kjetil Hestdal, says in a comment to the results: "Through the settlement of the patent dispute with DUSA and GE Healthcare's exercise of the US option for Hexvix, PhotoCure has now established a solid base for worldwide distribution of our products. This is essential for the company's future."


PhotoCure ASA is a Norwegian pharmaceutical company founded in 1993 and listed on Oslo Stock Exchange. The company develops and sells pharmaceuticals and medical devices based on proprietary photodynamic technologies, targeting key dermatology and oncology markets.
 
PhotoCure has two products with sales and marketing approvals: Metvix®, which is a product developed for the treatment of skin cancer (basal cell carcinoma) and pre-cancerous skin lesions (actinic keratosis), and Hexvix®, which is developed for the detection of bladder cancer. Both products are based on the same photodynamic technology, combining the drug known as a photosensitiser with a light source that activates the photosensitiser. PhotoCure is currently testing both products for new indications and aims to develop a pipeline of follow-on products and technologies.
 
For further information, contact:
 
PhotoCure ASA                                                         
Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)
Hoffsveien 48
NO-0377 Oslo
Norway

www.photocure.com
 
Telephone: +47 22 06 22 10
Fax: +47 22 06 22 18

Kjetil Hestdal (kh@photocure.no)
Mobile: +47 913 19 535
 
Christian Fekete (cf@photocure.no)
Mobile: +47 916 42 938

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