Corporate | 5 November 2013 07:00
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Cytos Biotechnology AG / Key word(s): Capital Increase
This media release and the information contained herein is not being issued in and may not be distributed directly or indirectly in certain countries, including the United States, Canada, Australia, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where it might be unlawful to do so. This media release does not constitute an offer for the sale of securities. Cytos Biotechnology announces terms for capital increase
New registered shares are issued for CHF 3.00; 32 existing shares entitle to subscribe for
Schlieren (Zurich), Switzerland, November 5, 2013 – Cytos Biotechnology AG (SIX:CYTN) (‘Cytos’) has announced the terms for a capital increase in the form of a rights offering as follows: Shares are issued for CHF 3.00 and 32 existing shares entitle to subscribe for 9 new registered shares. Cytos shareholders will receive additional information regarding the exercise of the subscription rights via their bank or broker in the coming days. Shareholders interested to subscribe shares beyond their subscription rights must contact the Company’s CFO Harry Welten ( harry.welten@cytos.com ; Telephone: +41 (0)44 733 46 46) until November 13, 2013. As previously announced, the group of institutional and strategic shareholders that invested in the Company in 2012, namely Abingworth, venBio, Aisling and Amgen, will increase their investment by CHF 9 million as part of the rights offering. The Company’s board of directors intends to make available to new investors any shares that are not subscribed by the current shareholders in the rights offering. The following timetable is expected for the capital increase:
The offering and listing prospectus dated November 5, 2013 is solely relevant for the capital increase. This prospectus is available free of charge from the Company (Telephone: +41 (0)44 733 47 47, facsimile: +41 (0)44 733 47 40, e-mail: info@cytos.com ). If fully subscribed, the share placement is expected to result in the issuance of up to 6,303,215 new registered Cytos-shares with a nominal value of CHF 0.10 each. For further information, please contact:
Cytos Biotechnology Ltd
About Cytos Biotechnology Ltd Cytos is a public biopharmaceutical company focused on the development of targeted immuno-therapies. The Company’s lead product candidate CYT003 is a novel, first-in-class, immune modulator in Phase 2 clinical development as a potential new treatment for asthma.CYT003 has a novel mechanism of action that inhibits the immune response that causes asthma, and may therefore be beneficial for the control of asthma. In a successfully completed Phase 2a study, CYT003 was shown to maintain asthma control and lung function in patients with persistent allergic asthma, despite withdrawal of standard therapy with inhaled corticosteroids. CYT003 has been shown to have a good safety and tolerability profile in more than 450 individuals receiving the active agent so far.Cytos was founded in 1995 as a spinoff from the Swiss Federal Institute of Technology (ETH) in Zurich. It is located in Schlieren (Zurich), Switzerland. The Company is listed according to the Main Standard on the SIX Swiss Exchange Ltd under the symbol CYTN.
Disclaimer
Forward Looking Statements This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words ‘will’ or ‘expect’ or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, including that CYT003 may not demonstrate safety or efficacy in clinical trials, that there may be delays in development or that CYT003 may not receive marketing approval, and that the Company relies on outside financing to meet capital requirements, which may not be available under acceptable terms or at all. Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
End of Corporate News +++++ Additional features: Document: http://n.equitystory.com/c/fncls.ssp?u=UCYURUVIIE Document title: Cytos_Press_E_131105 05.11.2013 This Corporate News was distributed by EQS Schweiz AG. www.eqs.com – news archive: http://switzerland.eqs.com/de/News The issuer is responsible for the contents of the release. |
| Language: | English | |
| Company: | Cytos Biotechnology AG | |
| Wagistr. 25 | ||
| 8952 Schlieren | ||
| Switzerland | ||
| Phone: | +41 44 733 4747 | |
| Fax: | +41 44 733 4740 | |
| E-mail: | info@cytos.com | |
| Internet: | www.cytos.com | |
| ISIN: | CH0011025217, CH0029060735 | |
| Valor: | – | |
| Listed: | Freiverkehr in Berlin, München, Stuttgart; Frankfurt in Open Market ; SIX | |
| End of News | EQS Group News-Service |
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| 237764 05.11.2013 |