PCI Biotech Holding ASA

Good morning, and welcome to PCI Biotech's first half-year 2023 presentation. My name is Ronny Skugeral, and with me today are Anders Haugset, our CSO, and Morten Lur, responsible for BD. Please take a look at our important notice and disclaimer. This will be an opportunity to ask questions along the way, and it is now open to send in questions via our web solution. I encourage you to send in questions already now, and we will try to answer them at the end of today's session. Then we go straight to the operational review and hand over the floor to Morten.

Good morning. PCI Biotech is working on the use of FIMA NAC to dissolve flasks inside the production of gene therapy. These are biological drugs with great potential, but are limited by complex and expensive production methods. While the details around this technology are still confidential by IP view, we expect to be able to share more information about this in the second half of 2023, when the patent is completed. We have continued to strengthen IP by generating new data on a small scale, and we are looking forward to a broad and robust patent. Furthermore, we are now working towards early phase testing with potential customers, where the goal is to get feedback, which means that we can improve and develop a market-leading technology that solves bottlenecks in the production of gene therapy. Then I pass the floor to Anders Haugset.

Good morning. I will give a short update on the status of what we do within dermatology, i.e. skin diseases. As you may remember from previous presentations, our goal is to develop an effective and simple technology to deliver nucleic acids to the skin. with regard to using this in therapy together with partners who have nucleic acid. We focus here on wound treatment, but we also want to deliver to other types of skin diseases. To start studying this, we have made some experiments together with a company that is an expert on skin models, to see if the PCI technology has an effect on the delivery of mRNA, which is what we have chosen to deliver in this regard, which is a nucleic acid that is relatively difficult to deliver compared to many others. We have tested this in two different models. The first was a single model where you have human skin cells growing on a plate. The delivery of mRNA increased about 10 times compared to what we got with a very used other delivery technology. So these were very positive results. In the meantime, when we tried to transfer this to a more complex model, where you have, you can call it a full-scale model, where what you do is to take human skin, skin from healthy, voluntary people, stretch it out, make a wound and try to deliver something to this wound. What we saw here was that we did not receive any signals from what we delivered at all, nor what was supposed to be a positive control, so it was impossible in this case to draw conclusions, but we could of course not say that PCI gave an improvement of delivery in this case. It has to be said that what we tested here was a rather difficult model. We delivered the so-called naked mRNA, which is not protected against degradation, to a wound. There are many possible reasons why this did not work. So we would like to move on and evaluate these initial results and also make contact with commercial possible cooperation partners within the area. Thank you.