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Third Quarter Report 2006

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Oslo, Norway, October 27th, 2006


Highlights:
 
  • GE Healthcare exercised an option to market and distribute Hexvix® in the US. This triggered a milestone payment of EUR 9 million to be booked in fourth quarter.
  • Hexvix launched in Germany by GE Healthcare.
  • Metvix® launched in Brazil and Metvixia® approved for AK, BCC and Bowen's in France.
  • First Phase II study in acne completed.
  • First clinical study for treatment of Cervix cancer started.
  • Sales revenues in third quarter amounted to NOK 14.6 million (7.3), an increase of 99%.
  • Net loss third quarter amounted to NOK -11.8 million (-4.8) due to higher R&D expenses.
  • Cash amounted to NOK 271.5 million (81.0) at the end of the period.


President and CEO of Photocure, Dr. Kjetil Hestdal, says in a comment to the results: "Commercially, we have doubled our sales in third quarter showing that both Metvix/Aktilite and Hexvix sales are gaining momentum world wide. At the same time we have made good progress in our R&D pipeline based on our strong patent portfolio."


Photocure ASA is a Norwegian pharmaceutical company listed on the 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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