23.06.2014
CytoTools AG DE000A0KFRJ1
DGAP-News: CytoTools AG adds cardiovascular and further indications to its field of interest following capital increase at CytoTools subsidiary CytoPharma GmbH
DGAP-News: CytoTools AG / Key word(s): Miscellaneous/Capital Increase
CytoTools AG adds cardiovascular and further indications to its field
of interest following capital increase at CytoTools subsidiary
CytoPharma GmbH
23.06.2014 / 15:30
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CytoTools AG adds cardiovascular and further indications to its field of
interest following capital increase at CytoTools subsidiary CytoPharma GmbH
- Capital measure provides CytoPharma GmbH with fresh capital of around EUR
1.7 million
- Funds to be used to finance cardiovascular division at CytoPharma GmbH
- CytoTools plans to extend existing scientific approaches to new
indications
Darmstadt, June 23, 2014 - The Shareholders' Meeting of CytoPharma GmbH has
unanimously approved a capital increase totalling around EUR 1.7 million.
The capital has been provided by two existing shareholders and by new
shareholders. CytoTools AG participated in this round with approximately
EUR 0.3 million, thus maintaining its stake in CytoPharma GmbH at
significantly above 40%. The additional liquidity will enable CytoTools AG
to continue to support the successful research activities at this
subsidiary. It will begin to plan implementation of its existing
cardiovascular research pipeline in initial clinical studies.
As a licensee of CytoTools patents, CytoPharma GmbH has a number of
promising active substance candidates in the field of cardiovascular
diseases. These can now be prepared for clinical trials and to generate
initial human data.
Furthermore, CytoTools is planning additional clinical studies on Derma
Pro(R), a well characterized active substance, whose application potential
is now to be extended to further indications outside its main
dermatological focus.
"Other existing shareholders also exercised their subscription rights on a
grand scale in this capitalization round and we see this as a mark of great
confidence. The shareholders are recognizing the great progress we have
made in scientific development work at CytoPharma. This capital measure
will enable CytoPharma to move its promising product candidates forward to
the clinical stage", commented Dr. Mark-Andre Freyberg, CEO of CytoTools
AG.
As well as transferring active substance candidates to clinical projects,
in the coming weeks and months the company will also be holding talks for
partnerships with other biotech and pharmaceuticals companies. CytoTools
aims to forge alliances and partnerships with other interested biotech and
pharmaceuticals players both for its cardiovascular division and for its
DermaPro(R) substance and its application in new indications. At the end of
June, CytoTools will be holding talks and negotiations for this purpose at
the BIO 2014 International Convention, the world's largest biotech fair in
San Diego (USA).
This press release contains specific future-oriented statements. These
reflect the opinion of CytoTools on the date of this release. The actual
results achieved by CytoTools could substantially deviate from the future-
oriented statements made. CytoTools is not obligated to update these
future-oriented statements.
About CytoTools:
CytoTools AG is a biotechnology company focused on translating fundamental
biology research on the mechanisms of cell growth and programmed cell death
into unique therapies that are designed to treat the cause of the disease
rather than the symptoms. The Company has developed a robust and diverse
pipeline of disease modifying therapies that comprise proprietary small
molecules and biologics. These have the potential to provide new treatment
options in dermatology, cardiology and angiology, urology and oncology.
CytoTools AG is structured as an investment and holding company and as such
holds investments in its subsidiaries DermaTools Biotech GmbH (57%) and
CytoPharma GmbH (42%).
Contact:
CytoTools AG
Dr. Mark Andre Freyberg
Klappacher Str. 126
D-64285 Darmstadt
Tel.:+49-6151-95158-12
Fax:+49-6151-95158-13
E-Mail: [email protected]
Press and IR contact:
Instinctif Partners
Dr. Robert Mayer/Dorothea Schneider
Rindermarkt 5
80331 Munich
Tel.: +49-89-3090 5189 13
E-Mail: [email protected]
End of Corporate News
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Language: English
Company: CytoTools AG
Klappacher Str. 126
64285 Darmstadt
Germany
Phone: +49 (0)6151-951 58 12
Fax: +49 (0)6151-951 58 13
E-mail: [email protected]
Internet: www.cytotools.de
ISIN: DE000A0KFRJ1
WKN: A0KFRJ
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in
Open Market (Entry Standard)
End of News DGAP News-Service
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