DGAP-News: Cytos Biotechnology Ltd announces financing transaction
10.10.2013 – 07:07
EQS Group-News: Cytos Biotechnology AG / Key word(s): Capital Increase Cytos Biotechnology Ltd announces financing transaction 10.10.2013 / 07:00 --------------------------------------------------------------------- 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 plans financing of up to CHF 17.6 million CHF 9 million of proposed capital increase already firmly committed by existing investors Schlieren (Zurich), Switzerland, October 10, 2013 - Cytos Biotechnology Ltd (SIX:CYTN) ('Cytos' or the 'Company') today announced a planned financing transaction that will raise up to CHF 17.6 million by selling up to 6.3 million shares in a rights offering. 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 cash proceeds will ensure that Cytos remains well capitalized to further advance the development of its lead program CYT003. Dr. Christian Itin, Chairman and CEO of Cytos, said: 'We appreciate the continued support of our major shareholders. The currently ongoing Phase 2b clinical trial in patients with moderate to severe allergic asthma is progressing as planned and we expect top line data to be available in the second quarter of 2014 and the full study results becoming available in late 2014.' Further details of the planned shareholders' meeting The proposal for an ordinary capital increase will be presented to the shareholders for approval at an extraordinary shareholders' meeting to be held on November 4, 2013. The Company's major shareholders who collectively hold more than 50% of the outstanding share capital have committed to vote in favor of the ordinary capital increase. At this shareholders' meeting, the Company also plans to seek approval for the creation of additional conditional and authorized capital of up to 3.15 million shares each, with a nominal value of CHF 0.10 per share. The invitation and agenda for this meeting will be sent to shareholders shortly. For further information, please contact: Cytos Biotechnology Ltd Christian Itin, PhD Chairman and Chief Executive Officer Tel: +41 44 733 47 70 e-mail: christian.itin@cytos.com 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. www.cytos.com Disclaimer This document does neither constitute an offer to buy or to subscribe for securities of Cytos Biotechnology Ltd nor a prospectus within the meaning of applicable Swiss law. Investors should make their decision to buy or to subscribe to securities of Cytos Biotechnology Ltd solely based on the official offering and listing prospectus which will be published by Cytos Biotechnology Ltd. Investors are furthermore advised to consult their bank or financial adviser before making any investment decision. This document does not constitute a prospectus pursuant to article 652a or 1156 of the Swiss Code of Obligations or article 27 et seqq. of the listing rules of the SIX Swiss Exchange Ltd. A decision to invest in securities of Cytos Biotechnology Ltd should be based exclusively on the offering and listing prospectus published by Cytos Biotechnology Ltd for such purpose. The securities described herein are offered publicly in Switzerland only. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction. This document is not being issued in the United States of America, Canada, Australia, Hong Kong, Japan, New Zealand, Singapore, South Africa or any other jurisdiction where it might be unlawful to do so and should not be distributed or otherwise transmitted into the United States, or any other of the aforementioned jurisdictions, or to U.S. persons (as defined in the U.S. Securities Act of 1933, as amended) or publications with a general circulation in the United States or any other of the aforementioned jurisdictions. This document does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America or any other jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933. The information contained herein does not constitute an offer of securities to the public in the United Kingdom. No prospectus offering securities to the public will be published in the United Kingdom. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Order) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within article 49(2)(a) to (d) of the Order (all such persons together being referred to as 'relevant persons'). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Any offer of securities to the public that may be deemed to be made pursuant to this communication in any Member State of the European Economic Area (EEA) that has implemented Directive 2003/71/EC (together with the 2010 PD Amending Directive 2010/73/EU, including any applicable implementing measures in any Member State, the 'Prospectus Directive') is only addressed to 'qualified investors' within the meaning of the Prospectus Directive in that Member State. 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 'committed', 'could', 'will', 'plans', 'enable', 'expected', 'proposed', 'intends', 'planned,' 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=ITGGJMYXDT Document title: Press_captial_increase_E --------------------------------------------------------------------- 10.10.2013 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 --------------------------------------------------------------------- 233991 10.10.2013