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Person › Details

Mark-Andre Freyberg (CytoTools AG)

Freyberg, Mark-Andre (CytoTools 201111 Managing Director)

 

Organisation Organisation CytoTools AG
  Group CytoTools (Group)
Product Product dermatic
     

CytoTools AG. (11/30/11). "Press Release: CytoTools AG Successfully Completes Capital Increase in Difficult Market Environment. A Total of 237,600 New Shares Placed at an Issuing Price of EUR 13.30". Darmstadt.

o Gross proceeds of around EUR 3.2 million ensures most of the financing required for the planned European phase III study of the agent DermaPro®

o Existing shareholder gives consent for completely financing European phase III study


CytoTools AG, a technology holding company with investments in the fields of pharmaceuticals and medical products, has successfully carried out its capital increase against cash contribution (announced on November 10). By partially using its authorized capital, a total of 237,650 new no-par bearer shares were issued at a price of EUR 13.30 per share. With the entry of the capital increase into the commercial register, the share capital of CytoTools AG will increase from EUR 1,492,350 to EUR 1,730,000. The gross proceeds of around of EUR 3.2 million provide most of the financing required for the planned European phase III study of the agent DermaPro®. The remaining financing was secured following consent from an existing shareholder at the DermaTools Biotech GmbH subsidiary. The decisive phase III is an essential prerequisite for the market launch of the agent aimed at aiding the healing of chronic wounds.

Following the successful capital increase, preparations for this final clinical phase will begin shortly. During the two-week subscription period up to November 25, 2011, numerous existing shareholders exercised their subscription right of 4:1. In addition, further new shares were offered to institutional investors as part of a private placement. The new shares with a nominal value of EUR 1.00 have full dividend rights for the current financial year 2011. The transaction was supported by lead manager Donner & Reuschel AG.

Dr. Mark Freyberg, Managing Director of CytoTools AG, classifies the successful capital increase as a key milestone for future company development: "We believe that this is a strong indication of the trust that our shareholders have in us, particularly given the current capital market environment. The fresh equity and consent of the existing shareholder now allow us to completely finance the planned phase III. Following the completion of phase III, we can then push on towards the market launch of our agent DermaPro® and finally begin to generate attractive revenues and income after the years of intensive research."


Company information:

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: 51,5% 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.

Disclaimer:

This information is neither an offer for sale nor an instruction to buy securities of CytoTools AG. The information included in this press release is exclusively for persons who are residents of and are domiciled in Germany. Securities of CytoTools AG have not been and are not registered under the U.S. Securities Act of 1933 in the current applicable version, and may neither be offered nor sold in the United States of America. The information included in this press release may not be disseminated in the United States of America, and may not be passed on to U.S. persons - as defined in Regulation S of the U.S. Securities Act of 1933 in the current applicable version.

Contact

CytoTools AG
Dr. Mark-Andre Freyberg
Klappacher Str. 126
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
65195 Wiesbaden
Tel.: +49-611-205855-11
Fax: +49-611-205855-66
E-Mail: wiehle@cometis.de

   
Record changed: 2017-04-09

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