BIOXXMED AG DermaTools Biotech GmbH receives more than EUR 1 million in new capital
CytoTools AG and both managing directors subscribe to new shares
The investment will be used to repeat the diabetic foot ulcer trial
Darmstadt, 03.02.2016 - On 15th January 2016, at the shareholders` meeting of the DermaTools Biotech GmbH, a share capital increase to EUR 144,000 was unanimously agreed. Within the scope of this capital increase, the CytoTools AG and the two managing directors of DermaTools Biotech GmbH have provided more than EUR 1 million of new capital. Thus, the CytoTools AG again holds over 58 % of the share capital of the DermaTools Biotech GmbH. The deposited funds are to be used for the preparation of the repeat of the phase III diabetic foot ulcer clinical trial in Europe. Furthermore, with these funds, we can take the necessary steps for setting up a production location of the active substance at an additional manufacturer.
In the meantime, the DermaTools Biotech GmbH has agreed a memorandum of understanding with the Centaur company, the licensee for India: At the FDA-approved Centaur factory in Ambernath, DermaTools is to be provided with a clean room where it can manufacture the active substance on its own account. Such an arrangement is not only helpful for the marketing of the patented active substance, which has not yet been launched anywhere in the world - a so-called New Chemical Entity - but it also offers DermaTools additional security and independence regarding the manufacturing of the active substance. Against the background of the problems which occurred during the manufacture of the active substance solution for the completed European trial, this appears to be a sensible strategy.
From this point of view, negotiations will also be held with renowned European manufacturers who must comply with the high quality requirements. The new European manufacturer is to produce the active substance requirements for the repeat of the phase III trial in the diabetic foot ulcer indication, the requirements for further trials in Europe and furthermore, be in a position to cover any possible demand peaks in India.
In all therefore, the DermaTools Biotech GmbH will have a wider production base and be more independent.
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 (58%) 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
CytoTools AG issued this content on 03 February 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 February 2016 14:38:34 UTC
Original Document: http://www.cytotools.de/index.php/files/download/242
