With a capital increase, the CytoTools AG creates the conditions for the realisation of the medical product strategy
  • Gross issue proceeds amounting to 1.4 million EUR

  • Positive feedback from the market for DermaPro® as a medical product

Darmstadt, 21st April 2017 - The CytoTools AG, a technology holding with interests in the pharmaceutical and medical products fields, has placed a capital increase, under partial utilisation of the approved capital, with the exclusion of subscription rights. The 100,000 newly created shares were subscribed by institutional investors at an issue price of 14.00 EUR each. With the new financial means, the company is creating the basis for extending the strategy into the medical products segment. Also, this increase in capital means that the CytoTools AG has further strengthened its financial basis. It now has a liquidity of about 2.7 million euros at its disposal and, as in the past, does not make use of external capital.

The issue proceeds, as well as further accompanying capitalisation measures in the subsidiary company DermaTools Biotech GmbH, shall be used to extend the potential of the wound healing active substance DermaPro® to medical products, and thus open up a further market for the company. In this way, DermaTools makes a further step towards its strategic target - being able to offer a comprehensive and overarching wound management system for important chronic dermatological problems.

Within the scope of discussions with medical product manufacturers, among these large wound dressing producers, the CytoTools AG received very positives feedback to DermaPro® as a medical product. Now, using the means from the cash capital increase, the company will immediately begin the work on a possible CE certification. With the approval of a national regulatory authority, the certification process could already be completed next year.

The financing of the planned new clinical phase III trial should be completed by the placement of the convertible bond. The subscription period here lasts until 5th May 2017.

Furthermore, within the framework of the authorised capital, the company has the possibility of issuing further shares, with the exclusion of subscription rights. For this, a new placement price will be determined depending on the market circumstances.

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 (57%) and CytoPharma GmbH (42%).

Contact:

CytoTools AG

Dr. Mark-André Freyberg Klappacher Str. 126

D-64285 Darmstadt

Tel.: +49-6151-95158-12

Fax: +49-6151-95158-13

E-Mail: freyberg@cytotools.de

CytoTools AG published this content on 25 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 April 2017 11:27:18 UTC.

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