Photocure initiates arbitration in partial milestone payment case with Asieris Pharmaceuticals

Photocure confirms today that it has commenced arbitration in the partial milestone payment case with Asieris Pharmaceuticals. Reference is made to Photocure’s announcement dated 20 April 2026, in which the Company noted that its partner, Asieris Pharmaceuticals, had made a partial payment of $6.6M USD of the invoiced $11M USD milestone payment triggered by Asieris’ receipt of the Drug Registration Certificate from China's National Medical Products Administration for its core product APL-1702 (trade name: CEVIRA^®). 

Photocure has since maintained constructive dialogue with Asieris and remains in ongoing discussions. In parallel the Company initiated the legal steps as part of its efforts to pursue recovery. 

In an announcement issued today, Asieris communicated receipt of the arbitration demand and supporting documents filed by Photocure.

For further information, please contact: 

Dan Schneider
President and CEO
Photocure ASA
Email: ds@photocure.com

Priyam Shah
Vice President Investor Relations
Tel: +17176815072
Email: priyam.shah@photocure.com

Media enquiries:

Geir Bjørlo
Corporate Communications (Norway)
Tel: +47 91540000
Email: geir.bjorlo@corpcom.no

About Photocure ASA 

Photocure is a commercial diagnostic company with global reach, committed to driving progress in uro-oncology precision diagnostics, delivering meaningful advances for patients with urological cancers. Our unique core technology has led to better health outcomes for patients worldwide. The company aims to provide an array of transformative solutions that help physicians with timely diagnostic information, to inform more personalized decisions on how best to manage each individual patient. Photocure is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange (OSE: PHO). For more information, please visit www.photocure.com/news