PhotoCure ASA - High Clinical Acceptance of Metvix®PDT

Oslo, Norway, 19 August 2002
 
PhotoCure presents today its report for the three months ending 30 June 2002. Highlights from the report include:


Marketing of Metvix® PDT in Europe progressing as planned
  • Following the issuance of the Finnish marketing authorisation in May, PhotoCure now holds national marketing authorisations for Metvix® PDT Photodynamic Therapy in all the Nordic countries. A total of 126 light sources have been installed at 86 clinical centres in this area.
  • Metvix® PDT is approved in 15 countries, of which eleven have issued national marketing authorisation. Applications are pending in Switzerland, Australia and the US.
  • Metvix® PDT was a main focus at Galderma's exhibition stand at the World Congress of Dermatology in Paris. In addition, Galderma sponsored a separate Metvix® PDT symposium.
  • PhotoCure hosted a successful PDT symposium at the UICC International Cancer Congress in Oslo.
 
Positive Phase III Clinical Results in the Treatment of nodular BCC in the US
  • A complex clinical Phase III trial of Metvix® PDT in nodular BCC is recently completed in the US with positive results. A NDA for BCC will be filed later this year.
 
Patient Enrolment Completed for First Phase III Clinical Trial with Hexvix® - Interim Data Positive
  • Hexvix® fluorescence cystoscopy for detection of bladder cancer is undergoing clinical Phase III trials in Europe and the US. All patients are now enrolled in a European Phase III trial, and the interim data are positive.
 
Patient Enrolment Ongoing in Pilot Study with Benzvix®
  • Benzvix® is being developed as a product for photodiagnostics and photodynamic therapy for early lesions in the gastro-intestinal tract, and the first patients are enrolled in a pilot study.
 
PhotoCure Investment in Anticancer Therapeutic Inventions AS
  • PhotoCure has subscribed shares totalling NOK 5 million in Anticancer Therapeutic Inventions AS (ATI) - a leading company developing novel anticancer products based on a-particle radiation. Additionally, PhotoCure has an option to acquire additional shares increasing the ownership from an initial 6.6% to more than 60% of the outstanding shares of ATI.
 
Strong Financial Position
  •          Operating revenues of NOK 4.6 million, total expenses of NOK 34.0 million and a net loss of NOK 27.2 million for the three months ending 30 June 2002 were as expected. Liquid funds totalled NOK 305.2 million as of 30 June 2002.


  • Professor Vidar Hansson, PhotoCure's President and CEO, has the following comment to the company's 2nd quarter results: "We are currently launching Metvix® PDT in the Nordic countries, and we are very pleased with the high clinical acceptance we see among dermatologists. Revenue from Metvix® sales will increase as new Metvix® centres in all the Nordic countries are being established. We expect that close to 50% of all dermatology centres in the Nordic countries will be providing Metvix® PDT during the next year."


    For presentation of 2nd. quarter results use the following link:
     


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