Darmstadt, Germany -17th June 2015 – The shareholders` general meeting of DermaTools Biotech GmbH agreed to a capital increase of approximately 1.3 million EUR, with contributions from existing shareholders and the State of Hessen. The decision was submitted to the commercial register. CytoTools AG participates within the framework of its financial remit, keeping its proportionate holding in DermaTools Biotech GmbH almost constant. CytoTools AG and all the other existing shareholders support DermaTools’ ongoing European trials with this comprehensive strengthening of liquidity and it will provide the means to continue preparations for the ulcus cruris trial in the USA, as well as the initiation of further clinical trials.
„The positive meetings with the FDA in April have strengthened our resolve to pursue preparations for clinical trials in ulcus cruris. The extension of the clinical trials for the active substance DermaPro® will be financed with the newly acquired means. We see great potential for the innovative patented active substance molecule,“ said Dr. Dirk Kaiser, board member and Chief Research Officer of CytoTools AG.
„As well as increased possibilities in the field of research and development, we also see this financing as a great expression of confidence by the existing shareholders, as it enables DermaTools to start new projects. We are particularly pleased that the State of Hessen is also investing further in the future of the biotechnology industry, creating an excellent starting base for establishing more technological companies“, concluded Dr. Mark-Andre Freyberg, board member and CEO of the CytoTools AG.
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.
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%).
Issued for and on behalf of Cytotools by Instinctif Partners.
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