Photocure ASA (OSE: PHO), the Bladder Cancer Company, announces the publication of its sustainability (ESG) report for 2020, renewing its commitment to transparency, corporate governance principles, sustainability and business ethics.
As a result of this commitment, Photocure has also recently become a signatory of the United Nations Global Compact.
Reflecting on ESG matters in 2020, Dan Schneider, President and CEO of Photocure said:
"At Photocure, our mission is to deliver transformative solutions to improve the lives of bladder cancer patients. We seek to do so in a responsible way. We will continue to build a high-performance corporate culture based on a foundation that values diversity, equality, and inclusion, and is respectful and operates with the highest level of integrity.
We are proud of our unique technology, making bladder cancer cells glow bright pink, which to date has helped treat over 500,000 patients worldwide. In 2020, the company had to deal with business volatility due to the global Covid-19 pandemic and I am pleased with how we managed through these unprecedented times and proud of our employees for adapting to changing working conditions and continuing to serve our patients and customers.
The most important impact is our positive contribution to patients' lives, and the economies and the societies in which we operate. This impact comes with a responsibility and requires that we comply with laws, regulations and guidelines, that we listen to our stakeholders and constantly strive to deliver quality products through responsible business operations. Being part of the solution rather than the problem is anchored in our DNA as we strive to give bladder cancer patients access to care in a sustainable way, while working to create value for our shareholders. Becoming signatory of the United Nations Global Compact anchors our commitment to doing things the right way, officially implementing the Ten Principles and holding ourselves and business partners accountable.
This year, we deliver Photocure's second sustainability report according to the GRI Standards core option. We are following up on the targets and progress for each material topic, as defined in last year's ESG report and we continue to set goals for how to improve our work in the future. I hope this report will provide valuable insights for our stakeholders and the essential information about our response to the sustainability challenges and opportunities for our business and society." Schneider concludes.
The full ESG report is attached and available at https://www.photocure.com/investor/reports-and-presentations/.
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About Bladder Cancer
Bladder cancer ranks as the seventh most common cancer worldwide with 1 720 000 prevalent cases (5-year prevalence rate)1a, 573 000 new cases and more than 200 000 deaths annually in 2020.1b
Approx. 75% of all bladder cancer cases occur in men.1 It has a high recurrence rate with an average of 61% in year one and 78% over five years.2 Bladder cancer has the highest lifetime treatment costs per patient of all cancers.3
Bladder cancer is a costly, potentially progressive disease for which patients have to undergo multiple cystoscopies due to the high risk of recurrence. There is an urgent need to improve both the diagnosis and the management of bladder cancer for the benefit of patients and healthcare systems alike.
Bladder cancer is classified into two types, non-muscle invasive bladder cancer (NMIBC) and muscle-invasive bladder cancer (MIBC), depending on the depth of invasion in the bladder wall. NMIBC remains in the inner layer of cells lining the bladder. These cancers are the most common (75%) of all BC cases and include the subtypes Ta, carcinoma in situ (CIS) and T1 lesions. In MIBC the cancer has grown into deeper layers of the bladder wall. These cancers, including subtypes T2, T3 and T4, are more likely to spread and are harder to treat.4
1 Globocan. a) 5-year prevalence / b) incidence/mortality by population. Available at: https://gco.iarc.fr/today, accessed [April 2021].2 Babjuk M, et al. Eur Urol. 2019; 76(5): 639-6573 Sievert KD et al. World J Urol 2009;27:295“3004 Bladder Cancer. American Cancer Society. https://www.cancer.org/cancer/bladder-cancer.html
About Hexvix®/Cysview® (hexaminolevulinate HCl)
Hexvix®/Cysview® is a drug that preferentially accumulates in cancer cells in the bladder making them glow bright pink during Blue Light Cystoscopy (BLC„¢). BLC„¢ with Hexvix® /Cysview® improves the detection of tumors and leads to more complete resection, fewer residual tumors and better management decisions.
Cysview is the tradename in the U.S. and Canada, Hexvix is the tradename in all other markets. Photocure is commercializing Cysview/Hexvix directly in the U.S. and Europe, and has strategic partnerships for the commercialization of Hexvix/Cysview in China, Canada, Chile, Australia and New Zealand. Please refer to https://photocure.com/partnering-with-photocure/our-partners/ for further information on our commercial partners.
About Photocure ASA
Photocure: The Bladder Cancer Company delivers transformative solutions to improve the lives of bladder cancer patients. Our unique technology, making cancer cells glow bright pink, has led to better health outcomes for patients worldwide. Photocure is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange (OSE: PHO). For more information, please visit us at www.photocure.com, www.hexvix.com, www.cysview.com
For further information, please contact:
Dan Schneider
President and CEO
Photocure ASA
Tel: + 1-609 759-6515
Email: ds@photocure.com
Erik Dahl
Chief Financial Officer
Tel: +47 450 55 000
Email: ed@photocure.no
David Moskowitz
Head of Investor Relations
Tel: +1 202 280 0888
Email: david.moskowitz@photocure.com
Media Enquiries:
Geir Bj¸rlo
Corporate Communications (Norway)
Tel: +47 91540000
Email: geir.bjorlo@corpcom.no
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