DGAP-News: Cytos Biotechnology Ltd announced the completion of patient enrolment of the on-going Phase 2b study of CYT003
(firmenpresse) - EQS Group-News: Cytos Biotechnology AG / Key word(s): Research Update
Cytos Biotechnology Ltd announced the completion of patient enrolment
of the on-going Phase 2b study of CYT003
21.10.2013 / 07:00
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Cytos Biotechnology Ltd announces the completion of patient enrolment in
the on-going Phase 2b study of CYT003 for the treatment of allergic asthma
Investor syndicate will pay Cytos CHF 6.625 million for achievement of this
milestone under a convertible loan notes agreement signed in 2012
Schlieren (Zurich), Switzerland, October 21, 2013 - Cytos Biotechnology Ltd
(SIX:CYTN) ('Cytos' or the 'Company') today announced that patient
enrolment has been completed in the on-going phase 2b study with its lead
product CYT003. This study investigates the effectiveness, safety and
tolerability of CYT003 in patients with moderate to severe allergic asthma
not controlled on their standard treatment.
Based on the completion of the enrolment of this study, Cytos will call the
second tranche of the convertible loan notes in the amount of CHF 6.625
million from Abingworth, venBio, Aisling and Amgen, which was part of the
investment by this syndicate of investors in May 2012.
Dr. Christian Itin, Chairman and CEO of Cytos, said: 'We are pleased with
the progress of our Phase 2b study in patients with moderate to severe
allergic asthma. The study is on track and we expect topline data from the
study to be available in the second quarter of 2014. '
For further information, please contact:
Cytos Biotechnology Ltd
Harry Welten
Chief Financial Officer
Tel: +41 44 733 46 46
harry.welten(at)cytos.com
US Investor enquiries
Susan A. Noonan
Tel: +1 (212) 966 3650
susan(at)sanoonan.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
Forward looking statements
This foregoing press release may contain forward-looking statements that
include words or phrases such as 'would', 'can', 'expect', '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, thatclinical 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.
End of Corporate News
+++++
Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=GGRRUURDJJ
Document title: Cytos_Press_100percent enrolment
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21.10.2013 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.
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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
Valor: -
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; SIX
End of News EQS Group News-Service
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going-phase-2b-study-of-cyt003
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Datum: 21.10.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 307348
Anzahl Zeichen: 8933
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