DGAP-News: Cytos Biotechnology Ltd: The application to grant an exception from the duty to submit a public offer has been approved.
(firmenpresse) - EquityStory AG-News: Cytos Biotechnology AG / Key word(s):
Miscellaneous
Cytos Biotechnology Ltd: The application to grant an exception from
the duty to submit a public offer has been approved.
04.04.2012 / 07:00
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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: harry.welten(at)cytos.com
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 actualresults 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: info(at)cytos.com
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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