The decision is primarily based on the insufficient progress towards the 2025 goal of demonstrating improved yield in mini benchtop bioreactors, states the company. Achieving successful end-to-end results in small bioreactors is a critical risk-reducing milestone for further development, they state.

Additional initiatives were undertaken to demonstrate PCL’s capability to increase net AAV yield in an end-to-end process. However, efforts to date have not yielded convincing results, the company states.

The insufficient progress has, in addition, extended project timelines and increased resource requirements, elevating the overall project risk to an unacceptable level.

The insufficient progress has, in addition, extended project timelines and increased resource requirements, elevating the overall project risk to an unacceptable level. Consequently, PCI Biotech has decided to discontinue further development.

Evaluate the company’s future

PCI Biotech’s immediate priority is now to preserve value and evaluate the company’s future. As of the end of June 2025, the cash position of the company was NOK 13.6 million, which is expected to sustain operations into Q4 2025.

There is no assurance that PCI Biotech will be able to secure additional financing. This material uncertainty casts significant doubt on PCI Biotech Holding ASA’s ability to continue as a going concern, the company states. The evaluation of the company’s future includes a range of options, including, but not limited to, a potential sale, merger, or complete wind-down of operations, they state.