The Management Board of CytoTools AG has secured the financing for the planned phase III study for the approval of its wound healing product DermaPro in Europe. The company will provide separate information on the start of the study, which is planned for the fourth quarter of 2020. Furthermore, the Company has decided to expand the Management Board to include the position of a Chief Financial Officer. On 5 October, the Supervisory Board of the company correspondingly appointed Mr. Marc Herwick to the Management Board of the Company. Marc Herwick has more than 20 years of professional experience in the areas of accounting and controlling in various companies in Europe and the USA, including a responsible position with two European pharmaceutical companies from 2008 to 2016. From 2016 to the current year he was Managing Director and regional CFO for Central Europe at JELD-WEN, a leading manufacturer of building equipment with a turnover of around USD 4 billion. Marc Herwick also works as avocational Associate Professor for Finance at the Munich Business School, Munich.