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Oslo, Norway, 24 August 2012: Photocure (OSE: PHO), a Norwegian specialty pharmaceutical company focused on photodynamic technologies in dermatology and cancer, today announces its results for the second quarter and the first half year 2012, for the period ended 30 June 2012.

Kjetil Hestdal, President & CEO will present the report at 15:00 CET

President and CEO Kjetil Hestdal discusses the company's photodynamic technology harnessed in Hexvix® and Allumera®. Hexvix®, branded as Cysview® in the U.S., aids in cystoscopy procedures for bladder cancer.

Announces appointment of Chief Finance Officer

A total of EUR 5 million in manufacturing milestones achieved to date

Access to webcast and presentation via this link: http://webtv.hegnar.no/webcast.php?id=65542

Results demonstrate a significant reduction in inflammatory lesions and a significant improvement in overall acne severity.

Photocure to present data on impact of Hexvix®/Cysview® on long term recurrence rates at American Urological Association annual meeting, Atlanta, GA, USA. The results indicates that Hexvix cystoscopy significantly improves time to recurrence of bladder cancer.

Photocure announces FDA approval of upgraded Karl Storz blue light cystoscope for use with Cysview. This will significantly enhance the market access to Cysview in the US market.

Photocure has recently launched the new corporate website. It is a flexible and commercial showcase for Photocure’s validated success stories, based on the Photocure Technology®.

Photocure has achieved the third and final manufacturing transition milestone from Ipsen, its new strategic partner for commercializing Hexvix® worldwide, excluding the US and Nordic region. This triggers a payment of EUR 750 thousand.

The encouraging results from the Cevira® study are being presented today at the American Society of Colposcopy and Cervical Pathology (ASSCP) in San Francisco by Dr. Mark Einstein, Montefiore Medical Center, NY. Cevira® represents a breakthrough technology that integrates the drug and light source into a compact, single-use disposable device, for the treatment of human papilloma virus (HPV) associated diseases of the cervix.

Photocure announces today the achievement of the second manufacturing transition milestone from Ipsen, its new strategic partner for commercializing Hexvix® worldwide, excluding the US and Nordic region. This triggers a payment of EUR 1.5 million.

Photocure and Ipsen to co-sponsor two symposia on bladder cancer management. Data on impact of Hexvix® on long term recurrence rates to be prestented at European Association of Urology (EAU) Congress, Paris

• Strategic collaboration with Ipsen for marketing rights in Europe and the rest of the world except Nordics and the US • Photocure to commercialise the product directly in the US market