BIOXXMED AG A total of 100,000 new shares were issued at a subscription price of 40.00 EUR each
The generated gross proceeds, amounting to 4.0 million EUR, safeguard the extension of clinical trials in the USA for the wound healing active substance DermaPro®
With this, the worldwide development for the wound healing substance DermaPro® can be further strengthened in the main indication.
Darmstadt, 20th October 2015 - The CytoTools AG, a technology holding with subsidiaries in the pharmaceuticals and medical products fields, has successfully issued a capital increase of about 6 %, partially utilising the authorised capital, with the exclusion of subscription rights. The 100,000 newly created shares were subscribed by institutional investors and shareholders at an issue price of 40.00 EUR per share. Here, also new institutional investors were convinced of the potential of the CytoTools AG. With these new financial resources, the company creates the basis for expanding the clinical trials in the USA. CytoTools AG has considerably strengthened its financial base with this capital increase and paved the way towards a considerable expansion of the potential market.
The issue proceeds, together with further accompanying capital measures, are to be used by the subsidiary DermaTools Biotech GmbH to complete the development of the main indications diabetic foot and ulcerated leg for the wound healing agent DermaPro® . DermaTools is planning shortly to initiate a further clinical trial in the USA for this substance. The development for these important indications has also taken place in Europe and India. Thus DermaTools is closing in on its strategic target of being able to offer a comprehensive and overarching wound management system worldwide for the important chronic dermatological problems.
'We received requests from institutional investors regarding participation possibilities in our company and with this capital increase we have now created these possibilities. At the same time, we evaluate this interest as a great sign of confidence in our successful work and our promising development pipeline in difficult stock market times.', Dr. Freyberg, CEO of the CytoTools AG explained.
Now that DermaTools, in the currently ongoing and completed trials in Europe and India, has already demonstrated the successful treatment possibilities of diabetic foot - the most serious chronic wound
- and the ulcerated leg indication, the new trials are designed to reveal the considerable additional potential of the worldwide patented substance. 'Together with the ongoing phase III trial on diabetic foot and ulcerated leg in Europe, the results in the USA will lead to a clear increase in value of the project', Dr. Freyberg explained.
In addition, the company is planning to initiate further indications for the active substance DermaPro®. The extension to further indications outside dermatology will considerably increase the potential of the active substance DermaPro®.
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 German 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 (55%) and CytoPharma GmbH (42%).
CytoTools AG
Dr. Mark Andre Freyberg Klappacher Str. 126
D-64285 Darmstadt
Tel.: +49-6151-95158-12
Fax: +49-6151-95158-13
E-Mail: freyberg@cytotools.de
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