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PhotoCure ASA - First quarter results 2005

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Oslo, Norway, 3 May 2005


Hexvix® approved in all EU/EEA countries


Highlights from PhotoCure ASA's first quarter report 2005:


  • Hexvix approved in all EU/EEA countries through the European mutual recognition procedure.
  • PhotoCure and Galderma free to market Metvix® in Australia after defeating claim of infringement.
  • Galderma Metvix sales totalled 4491 units in the first quarter of 2005, compared to 2693 units in the corresponding quarter of 2004 (+85%).
  • Nordic Metvix sales totalled 3184 units in the first quarter of 2005, compared to 2932 units in the corresponding quarter of 2004 (+9%).
  • Sales revenues amounted to NOK 8.8 million in the first quarter of 2005, compared to NOK 10.2 million in the corresponding quarter of 2004. Net loss amounted to NOK 13.1 million compared to NOK 16.4 million in the corresponding quarter of 2004. Liquid funds amounted to NOK 117.7 million as of 31 March 2005.
President and CEO of PhotoCure, Kjetil Hestdal commented: "The approval of Hexvix throughout Europe signals the need for improvement in bladder cancer diagnosis and represents a large market opportunity for PhotoCure. Another significant achievement in the first quarter was our defeat against the infringement claim in Australia. The judement underlines PhotoCure's strong patent portfolio."


The full report for the first quarter of 2005 and the presentation are available on www.photocure.com under: Investors/Reports and Presentations.


The report is also available at the following link:


The presentation is available at the following link:


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.
 
PhotoCure, the PhotoCure logo, Metvix and Hexvix are trademarks or registered trademarks of PhotoCure ASA.
 
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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