PCI Biotech Holding ASA

What PCI Biotech Holding ASA does

PCI Biotech Holding ASA was a Norwegian biopharmaceutical company that developed photochemical internalization (PCI), a light-directed intracellular drug delivery technology platform originating from research at the Norwegian Radium Hospital. The proprietary mechanism relies on photosensitizers — chiefly Amphinex (fimaporfin) — that, when activated by targeted light exposure, rupture endosomal membranes to release endocytosed therapeutic molecules into the cytosol, enhancing delivery of small molecules, macromolecules, antibody-drug conjugates, nanoparticles, siRNA/mRNA, and vaccine antigens. Clinical-stage programs encompassed fimaCHEM (Amphinex with gemcitabine for inoperable bile duct cancer / cholangiocarcinoma, including the pivotal RELEASE study), fimaVACC (PCI-enhanced antigen presentation for CTL induction in therapeutic and prophylactic vaccination), and fimaNAc (nucleic acid delivery). Supporting products included the LumiSource research-grade illumination device and the CE-marked PCI 652nm medical laser.

The company pursued a pre-commercial, licensing-oriented business model with no product on market and no pricing model in place. Revenue and non-dilutive funding came from research collaborations with pharmaceutical and biotech firms — including AstraZeneca, BioNTech, Ultimovacs, eTheRNA immunotherapies, Immunicum, OliX Pharmaceuticals, DCprime, Bavarian Nordic, IMV Inc., RXi Pharmaceuticals, and MDimune — from competitive grants (Research Council of Norway NOK 12.5M in 2014 and NOK 13.8M in 2017; EU Eurostars EUR 1.1M in 2009; Innovation Norway NOK 500K in 2017), and from equity rights issues (NOK 90M in 2010, NOK 70M in 2016, and NOK 360M in 2018). The strategic endpoint was out-licensing or sale to larger pharmaceutical companies. Clinical operations were conducted at academic medical centers including University College Hospital London, Oslo University Hospital, the Netherlands Cancer Institute, the National Center for Tumor Diseases Heidelberg, and Klinikum rechts der Isar.

The company was publicly traded on Euronext Oslo Børs under the ticker PCIB, having transferred from Oslo Axess to the main list in April 2018. Following the conclusion of an external evaluation of a bioprocessing technology extension in January 2026 that yielded no prospects for further collaboration, all R&D operations were discontinued and the company initiated a structured wind-up. An extraordinary general meeting on 16 March 2026 approved dissolution and delisting; the liquidation balance was published on 4 June 2026, and the liquidation settlement was submitted to the general meeting on 24 June 2026.

Name

PCI Biotech Holding ASA

Legal name

PCI Biotech Holding ASA

Website

https://pcibiotech.no

Company type

Public

Founded year

2007

Operating status

Closed

Headcount range

1–10 employees

Short description

PCI Biotech Holding ASA was a Norwegian biopharmaceutical company that developed photochemical internalization (PCI), a light-directed drug delivery technology. It pursued oncology, vaccination, and nucleic acid delivery applications via a pre-commercial licensing model before entering dissolution in 2026.

Ownership category

akta.pro rank

Product category

Biopharmaceutical Drug Delivery

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

RNA Delivery Technologies (LNPs, polymers, conjugates incl. GalNAc, peptides, exosomes) (HLAAADAD)

akta.pro secondary industry

Non-viral Gene Delivery & Gene Therapy (LNP, polymers, electroporation, physical methods) (HLAAACAC)

Keywords

• Photochemical drug delivery
• Biopharmaceutical therapeutics
• Oncology drug delivery
• Intracellular delivery technology
• Photosensitizer therapy

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Biopharmaceutical Development: As a pre-commercial biotech company, PCI Biotech did not generate product revenue. The company pursued partnerships and licensing deals with pharmaceutical companies as its primary value creation and potential monetization strategy. Research collaborations with top pharma companies provided some non-dilutive funding. The company is now in liquidation with no ongoing commercial operations.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

PCI Biotech Holding ASA developed a proprietary Photochemical Internalization (PCI) light-directed drug delivery technology platform that uses photosensitizers and targeted light activation to trigger endosomal release, enabling enhanced intracellular delivery of therapeutic molecules such as chemotherapeutics, nucleic acids (siRNA/mRNA), and vaccine antigens. Core product candidates built on this platform include Amphinex (fimaporfin) for cancer treatment, fimaCHEM for chemotherapy enhancement, fimaVACC for vaccination and immunotherapy, and fimaNAc for nucleic acid delivery.

Product overview

PCI Biotech Holding ASA is a Norwegian biopharmaceutical company that developed a portfolio of products based on its proprietary Photochemical Internalization (PCI) technology platform. The core platform enables light-directed drug delivery through triggered endosomal release, enhancing the efficacy of various therapeutic modalities. Key product candidates include Amphinex (fimaporfin), a proprietary photosensitiser; fimaVACC for CTL induction in immunotherapy and vaccination; fimaCHEM for chemotherapy enhancement in bile duct cancer; and fimaNAc for nucleic acid delivery. Supporting products include LumiSource for in vitro research and the PCI 652nm medical laser for clinical applications. The company operated a dual strategy of improving existing drugs and enabling emerging therapies including gene therapy, therapeutic vaccines, and RNA therapeutics. As of early 2026, the company discontinued all R&D operations and is in the process of dissolution and delisting from Euronext Oslo Børs.

Differentiator

Problem solved

Functional benefit

Brands

• Amphinex®: Proprietary photosensitiser (fimaporfin) used in photochemical internalisation treatment combined with bleomycin for local cancer treatment.
• fimaCHEM
• fimaVACC
• fimaNAc
• LumiSource®
• PCI 652nm Medical Laser

Products and services

• Photochemical Internalization (PCI) Technology Platform Proprietary light-directed drug delivery platform that uses photosensitizers activated by light to trigger endosomal rupture, releasing therapeutic molecules into cell cytosol. Applicable to small molecules, macromolecules, antibody-drug conjugates, nanoparticles, siRNA, mRNA, and vaccines.
• Amphinex (fimaporfin) Proprietary photosensitizer (fimaporfin) activated by light at 652nm, used in photochemical internalization treatment to promote effective local delivery of therapeutic molecules through triggered endosomal release. Investigated for bile duct cancer and head and neck cancer.
• fimaCHEM PCI-based clinical program for light-directed delivery of chemotherapeutic agents, primarily investigated for bile duct cancer (cholangiocarcinoma) treatment using Amphinex with gemcitabine via intraluminal endoscopic illumination.
• fimaVACC

Quantifiable outcome

• All treated tumors disappeared within a few weeks in Phase I/II study with Amphinex and bleomycin combination
• +2 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

13 partnerships are on record, tiered minor and major.

• MDimuneminorStrategic or Co-development Partner · 5 January 2022Research collaboration agreement with MDimune to explore novel drug delivery applications.
• ImmunicumminorStrategic or Co-development Partner · 30 November 2021Extension of research collaboration to explore novel cancer vaccination treatments using PCI technology with Immunicum's immunotherapy platform.
• OliX PharmaceuticalsminorStrategic or Co-development Partner · 5 May 2021Collaboration to combine OliX's asiRNA technology with PCI Biotech's fimaNAc technology for enhanced nucleic acid delivery.
• DCprimeminorStrategic or Co-development Partner · 1 September 2020Research collaboration to explore novel cancer vaccination concepts combining DCprime's dendritic cell-based approach with PCI technology.
• Bavarian NordicminorStrategic or Co-development Partner · 20 August 2018Initiated research collaboration with Bavarian Nordic to explore applications of PCI technology in their immunotherapy pipeline.
• IMV IncminorStrategic or Co-development Partner · 24 May 2018Research collaboration initiated to explore applications of PCI technology with IMV's immunotherapy candidates.
• RXi PharmaceuticalsminorStrategic or Co-development Partner · 22 May 2017Extension of research collaboration to the field of immuno-oncology combining RXi's self-delivering RNAi technology with PCI technology.
• eTheRNA immunotherapiesminorStrategic or Co-development Partner · 8 December 2016Research collaboration initiated to explore applications of PCI technology in combination with eTheRNA's immunotherapies.
• BioNTechmajorStrategic or Co-development Partner · 1 September 2016Preclinical research collaboration with BioNTech to explore applications of PCI technology in mRNA therapeutics.
• CuridaminorImplementation/ SI/ Consulting Partner · 1 July 2016Manufacturing agreement with Curida for production of clinical trial materials.
• UltimovacsminorStrategic or Co-development Partner · 27 January 2016Preclinical research collaboration to explore novel cancer vaccination concepts using PCI technology with Ultimovacs' vaccine platform. Collaboration awarded NOK 500,000 from Innovation Norway.
• AstraZenecamajorStrategic or Co-development Partner · 10 September 2015Preclinical research collaboration agreement with undisclosed top-10 large pharma company (later identified as AstraZeneca) to evaluate synergistic effects of PCI technology with their therapeutic nucleic acid technology. Evaluation of technology compatibility and synergy based on in vitro studies. Original evaluation period spanned 9 months with potential for further partnership. Collaboration was extended multiple times.
• Eurostars Consortium (SpectraCure, siRNAsense)minorStrategic or Co-development Partner · 23 March 2009PCI Biotech-led consortium awarded EUR 1.1 million from EU Eurostars Programme for development of light-directed siRNA delivery technology. Ranked 3rd of 317 European projects. Project entitled 'Photochemical Internalisation for delivery of short interfering RNA (siRNA) - towards safe and specific cancer therapy'.

Scale indicators3 records

Recent moves9 records

Expansion highlights3 records

Direct peers

• Photocure: Norwegian specialty pharma commercializing Hexvix/Cysview, a photosensitizer-based PDT for bladder cancer; same country and same scientific heritage of light-activated cancer therapy, making it the closest geographic and mechanistic peer.
• Steba Biotech: Luxembourg-headquartered biotech commercializing Tookad (padeliporfin), a light-activated vascular-targeted photodynamic therapy for low-risk prostate cancer; directly comparable modality to PCI Biotech's light-directed drug delivery.
• Theralase Technologies: Canadian photodynamic therapy company developing light-activated drugs (e.g., TLD-1433) for non-muscle-invasive bladder cancer; directly comparable to PCI Biotech's Amphinex + light mechanism for localized oncology treatment.
• Light Sciences Oncology: US-based developer of light-activated talaporfin/light device combination therapies for oncology; operates in the same photodynamic therapeutic class as PCI Biotech's Amphinex + laser approach.

Broad incumbents

• Arcturus Therapeutics: Clinical-stage mRNA medicines company with STARR and LUNAR delivery platforms; broader developer in the mRNA delivery space where PCI Biotech had an active BioNTech-partnered preclinical program.
• Alnylam Pharmaceuticals: Global leader in RNAi therapeutics with GalNAc-conjugate and LNP-based siRNA delivery platforms; broad incumbent in the same nucleic-acid delivery space where PCI's fimaNAc competes for differentiation.
• Arrowhead Pharmaceuticals: Diversified RNAi delivery platforms (TRiM, targeted LNP, GalNAc) and a broader pipeline than PCI Biotech's fimaNAc; competes in the same intracellular-delivery bottleneck PCI claims to address, but at vastly larger scale.

Emerging players

• Lumicell: US company developing fluorescence-guided intra-operative imaging plus light-activated drug systems for cancer surgery; partially overlaps with PCI Biotech's light-device + drug combination paradigm in oncology.
• Nanospectra Biosciences: Developer of AuroLase, a photothermal therapy using gold-silica nanoshells activated by laser light for focal tumor ablation; comparable as a light-activated nanoparticle oncology therapy adjacent to PCI's delivery platform.
• Dicerna Pharmaceuticals: Was a GalNAc-conjugate RNAi company acquired by Novo Nordisk in 2021; comparable as a focused oligonucleotide-delivery developer; illustrating both the M&A exit path and the consolidation risk facing niche RNA-delivery platforms like PCI's fimaNAc.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/pcibiotech
• LinkedInlinkedin.com/company/pci-biotech

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PCI Biotech Holding ASA