Photocure ASA - Results 3rd quarter 2009

Oslo, Norway, October 28, 2009

Photocure ASA (Oslo Stock Exchange: PHO) today presents its results for the third quarter 2009. A presentation will take place today in Oslo, Norway, beginning at 11.30 am (CET) and webcast through the Company's website www.photocure.com.

The main items in the report are:

Highlights

(Q3 2008 figures in parenthesis)

Sale of Metvix®/Aktilite® to Galderma for EUR 51 million.

Total revenues of NOK 389.3 million (NOK 23.6 million)

Operating profit of NOK 353.7 million (NOK -12.7 million)

Cash & cash equivalents of NOK 512 million per 1 October 2009, consisting of NOK 140.3 million at 30 September 2009, in addition to EUR 44 million in cash from Galderma on 1 October 2009

Photocure's Board of Directors propose an extraordinary dividend of NOK 4.00/share and initiation of a stock repurchase program

Photocure's NDA for Hexvix® designated for priority review in the US

Main financial figures:

*NOK 000 (unaudited)*	Q3 09	Change	Q3 08	YTD 2009	Change	YTD 2008
Total revenues	389 257	*1547 %*	23 629	447 218	*548 %*	69 030
Gross profit	385 431	*1922 %*	19 057	433 855	*677 %*	55 870
R&D expenses	19 301	19 %	16 188	52 203	-11 %	58 795
Operating profit	353 749	*N/A*	-12 749	333 509	*N/A*	-52 905
Net profit	355 337	*N/A*	-12 090	334 630	*N/A*	-55 136
EPS, diluted (NOK)	16.08		-0.55	15.15		-2.49

Please also see attached full 3rd quarter report.

President and CEO of Photocure, Kjetil Hestdal MD, PhD, says in a comment to the results, "This has been an exciting quarter for Photocure; We have sold our first commercial product, Metvix, for EUR 51 million. The consideration from the sale enables Photocure to return a dividend to our shareholders, initiate a stock repurchase program, and taking steps to become av speciality pharma company within dermatology as well as accelerating the development of our pipeline products in cancer."

About Photocure
Photocure is a Norwegian pharmaceutical company listed on the Oslo Stock Exchange (OSE: PHO). The company develops and sells pharmaceuticals and medical devices for the photodynamic treatment and diagnosis of cancer and selected dermatology indications.

Photocure's commercial activities includes own marketing and sales in selected markets as well as out-licensing to leading pharmaceutical companies on a regional or global basis prior to phase III.

Photocure has one proprietary pharmaceutical product on the market: Hexvix®, for the diagnosis of bladder cancer. Hexvix is approved in EU and under priority review by FDA in the US. In addition, the company has developed a proprietary light source, which is used in combination with the Visonac(TM) cream. Through worldwide studies, Photocure is continuously testing its products for new indications, and the aim is to develop a pipeline of follow-on products based on the Photocure Technology(TM) platform.

For more information about Photocure, visit our website at www.photocure.com.

Photocure®, the Photocure logo and Hexvix® are registered trademarks of Photocure ASA.

For further information, contact:

Photocure ASA

Attn. Kjetil Hestdal (President and CEO) or Christian Fekete (CFO)

Hoffsveien 48

NO-0377 Oslo, Norway
www.photocure.com

E-mail: kh@photocure.no or cf@photocure.no

Telephone: +47 22 06 22 10
Kjetil Hestdal mobile +47 913 19 535 - Christian Fekete mobile +47 916 42 938

Photocure ASA - Results 3rd quarter 2009

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