Capital/Financing Update • Apr 4, 2012
Capital/Financing Update
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Corporate | 4 April 2012 07:00
Cytos Biotechnology Ltd: The application to grant an exception from the duty to submit a public offer has been approved.
Cytos Biotechnology AG / Key word(s): Miscellaneous
04.04.2012 / 07:00
Schlieren (Zurich), Switzerland, April 4, 2012 – The Board of Directors of Cytos Biotechnology Ltd (‘Cytos’), referring to the Investment Agreement entered into on 20 March 2012 with venBio Global Strategic Fund L.P., Amgen Investments Ltd., Abingworth Bioventures V L.P., Abingworth Bioequities Master Fund Limited und Aisling Capital III, LP, announced today that the Swiss Takeover Board with decision 501/01 of 2 April 2012 granted to the above mentioned five investors individually and as a group an exemption from the obligation to make a public offer in case one of the five investors or the five investors as a group exceed the threshold of 33 1/3 percent according to article 32 para 1 of the Federal Act on Stock Exchanges and Securities Trading. The granting of this exemption by the Swiss Takeover Board is a condition for the implementation of the recapitalization of Cytos as contemplated in the Investment Agreement.
‘We are very pleased that, with the granting of this exemption by the Swiss Takeover Board, the conditions are now set for a successful Annual Shareholders Meeting and – provided the shareholders approve the transaction and the capital increase – the closing of the recapitalization and the further development in particular of our lead product, CYT003-QbG10, is secured’, said Dr. Thomas Hecht, Executive Chairman.
The whole statement of the Board of Directors, which unanimously supports the granting of this exemption, as well as the main part of the decision of the Swiss Takeover Board is published today in Neue Zürcher Zeitung as well as Le Temps and is also available on Cytos’ website www.cytos.com.
For further information please contact:
Cytos Biotechnology Ltd
Harry Welten
Chief Financial Officer
Tel.: +41 44 733 46 46
e-Mail: [email protected]
Website: www.cytos.com
About Cytos Biotechnology Ltd
Cytos Biotechnology Ltd is a Swiss public biotechnology company that specializes in the development and commercialization of a new class of biopharmaceutical products – the Immunodrugs(TM). Immunodrugs(TM) are intended for use in the treatment and prevention of common chronic diseases, which afflict millions of people worldwide. Immunodrugs(TM) are designed to instruct the patient’s immune system to produce the desired therapeutic antibody or T cell responses that modulate chronic disease processes. Cytos’ Immunodrug(TM) candidates are being developed both in-house and together with Novartis, Pfizer and Pfizer Animal Health. Founded in 1995 as a spinoff from the Swiss Federal Institute of Technology (ETH) in Zurich, the Company is located in Schlieren (Zurich). Cytos Biotechnology Ltd is listed on the main segment of the SIX Swiss Exchange Ltd under the symbol CYTN.
This foregoing press release may contain forward-looking statements that include words or phrases such as ‘are intended for’, ‘are designed to’, or other similar expressions. These forward-looking statements are subject to a variety of significant uncertainties, including scientific, business, economic and financial factors, and therefore actual results may differ significantly from those presented. There can be no assurance that any further therapeutic entities will enter clinical trials, that clinical trial results will be predictive for future results, that therapeutic entities will be the subject of filings for regulatory approval, that any drug candidates will receive marketing approval from the U.S. Food and Drug Administration or equivalent regulatory authorities, or that drugs will be marketed successfully. Against the background of these uncertainties readers should not rely on forward-looking statements. The Company assumes no responsibility to update forward-looking statements or adapt them to future events or developments. This document does not constitute an offer or invitation to subscribe or purchase any securities of Cytos Biotechnology Ltd.
End of Corporate News
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| Language: | English |
| Company: | Cytos Biotechnology AG |
| Wagistr. 25 | |
| 8952 Schlieren | |
| Switzerland | |
| Phone: | +41 44 733 4747 |
| Fax: | +41 44 733 4740 |
| E-mail: | [email protected] |
| Internet: | www.cytos.com |
| ISIN: | CH0011025217, CH0029060735 |
| Swiss Security Number: | – |
| Listed: | Freiverkehr in Berlin, München, Stuttgart; Open Market in Frankfurt; SIX |
| End of News | EquityStory AG News-Service |
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| 163821 04.04.2012 |
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