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CytoTools AG. (4/28/14). "Press Release: CytoTools AG Strengthens Successful Subsidiary DermaTools Biotech GmbH with further Capital Increase". Darmstadt.

Organisations Organisation CytoTools AG
  Group CytoTools (Group)
  Organisation 2 DermaTools Biotech GmbH
  Group CytoTools (Group)
Products Product DermaPro®
  Product 2 finance
Index term Index term CytoTools–SEVERAL: investment, 201404 capital increase €2.3m of DermaTools Biotech GmbH from mother CytoTools + existing investor
Persons Person Kaiser, Dirk (CytoTools 201404 Managing Director)
  Person 2 Freyberg, Mark-Andre (CytoTools 201111 Managing Director)
     


> DermaTools receives fresh capital of EUR 2.3 million

> CytoTools AG and an existing shareholder subscribe new shares

> Means will be used to extend research activities on the active substance DermaPro® as well as for repayment of all the company's liabilities

> CytoTools AG intensifies exploration of strategic options


A capital increase to EUR 132,000 in share capital was agreed unanimously on 16th April 2014 at the partners' meeting of DermaTools Biotech GmbH, a subsidiary of CytoTools AG. Within the scope of this capital increase, the CytoTools AG and an existing shareholder have made available new capital with a total of EUR 2.3 million. With this, among other things, all the liabilities of DermaTools can be removed so that now the company is free of foreign capital. Within the scope of its financial possibilities the CytoTools AG is participating here and is thus keeping its share in DermaTools Biotech GmbH almost constant. Through this liquidity strengthening the CytoTools AG is supporting the successful research and development work of its subsidiary. Additionally, the complete repayment of all liabilities means that further opportunities for new strategic options can be explored.

The newly acquired financing is intended to be used for extending the clinical research into the active substance DermaPro® for other indication fields – beyond the area of dermatology – yielding further great potential for the innovative active substance molecule. Dr. Dirk Kaiser, joint managing director of the CytoTools AG, commented here: „Trials have shown that our own development is also effective for other indications.“ Thus DermaTools can extend its development work with its patented active substance molecule to further new indications.

„As well as the increased possibilities in the research and development fields, we consider it to be a great success that this capitalization round has put DermaTools in a position to repay all foreign capital. Thus, on the one hand, the high interest obligations are no longer due, and on the other hand, and this is more important, an excellent starting basis is created with which we can explore further strategic options“, concluded Dr. Mark-Andre Freyberg, joint managing director 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, previously CytoTools GmbH, is a technology and holding company which holds the following shares in its subsidiaries which carry out product development in the pharmaceutical and medical products field: around 57% in DermaTools Biotech GmbH (therapy field dermatology, urology) and 46% in CytoPharma GmbH (therapy field cardiovascular disease, cancer). The complete know-how is protected by corresponding basic patents which are maintained worldwide by CytoTools AG and transferred to the subsidiary companies in the form of exclusive licenses.


Contact:

CytoTools AG
Dr. Mark Andre Freyberg
Klappacher Str. 126
D-64285 Darmstadt
Tel.: +49-6151-95158-12
Fax: +49-6151-95158-13
E-Mail: freyberg@cytotools.de

Press contact:
cometis AG
Ulrich Wiehle
Unter den Eichen 7
D-65195 Wiesbaden
Tel.: +49-611-205855-11
Fax: +49-611-205855-66
E-Mail: wiehle@cometis.de

   
Record changed: 2017-08-24

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