Photocure strengthens the management team

Announces appointment of Chief Finance Officer

Oslo, Norway, 5 July 2012: Photocure ASA (OSE: PHO), a specialty pharmaceutical company focused on photodynamic technologies in dermatology and cancer, today announces the appointment of Erik Dahl to its management team as the Chief Financial Officer, effective 15 August 2012.

Dahl joins Photocure with more than 20 years of experience in senior level financial management roles in both international public and private companies. He has a strong track record in corporate finance, legal and financial restructurings, M&A, IPOs and other capital market transactions.

At Photocure, Dahl will be responsible for directing the Company’s financial strategy, accounting and investor relations functions, and will report directly to the President and CEO, Kjetil Hestdal.

Prior to joining Photocure, Dahl was Chief Financial Officer of GET AS, the second largest cable TV provider in Norway, and was responsible for the Company’s M&A activities, including restructuring and integration post transactions.

Prior to this, Dahl has held numerous Chief Financial Officer roles in listed companies, and contributed to the fundraising and listings of companies including, Northern Logistic Property ASA, Findexa Ltd (renamed to Eniro Norge) and Jobline International AB.

Dahl has a Bachelor degree in finance and accounting from the Norwegian School of Economics.

 Commenting on the appointment, Kjetil Hestdal, President & CEO of Photocure, said: “Erik brings extensive international corporate finance experience with a proven track record of improving financial performance. His appointment will further strengthen the Photocure management team as we execute our strategy to become a specialty pharmaceutical company. We would also like to thank Torbjørn Øye for his contributions these past months as interim CFO."

 Erik Dahl added, “I am delighted to be joining Photocure at this exciting time in the Company’s development. I very much look forward to building a strong relationship with the investment community as part of my role, especially as we communicate on the future growth and success of Photocure.”

  

For further information, please contact:

Photocure
President & CEO Kjetil Hestdal
Tel: + 47 913 19 535, Email: kh@photocure.no

M: Communications

Mary Clark, Amber Bielecka, Hollie Vile

Tel: +44 207920 2361, Email: photocure@mcomgroup.com