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DGAP-News: CytoTools AG
/ Key word(s): Financing/Personnel
CytoTools introduces new strategic investor and restructures capital market communication Darmstadt, 26 August 2020 - CytoTools AG (ISIN DE000A0KFRJ1), a biotechnology holding company specializing in pharmaceutical and medical products, has been able to win a new strategic investor for the company within the framework of its capital increase which was successfully completed last week. As part of the transaction, PIH Pharma Industry Holding GmbH, a subsidiary of Klocke Holding GmbH based in Weingarten, Germany, has acquired a first stake in the company. The capital increase represents a significant milestone for the financing of phase III of the approval process for DermaPro(R) and the active ingredient DPOCL for the treatment of large wounds, especially the diabetic foot, in Europe. The companies of the Klocke Group specialize in the contract development, production and packaging of drugs, vaccines and cosmetic products. As a traditional family business, the Klocke Group employs more than 2,000 people in Europe and the USA. "We consider the technology of CytoTools and the markets in which the company is active to be extremely attractive", says Carsten Klocke, Managing Director of Klocke Holding. "After the approval of the first active substance in the Indian market and the forthcoming phase III in Europe, we consider CytoTools to be well positioned. We are convinced that CytoTools AG has put the problems of the past behind it and can also obtain marketing authorization in Europe. We are pleased that with the funds we have made available, phase III for this important and urgently needed active substance can now finally begin. In addition, we will also provide the company with consulting services within the scope of our possibilities". The proceeds from the capital increase in the amount of approximately EUR 3.7 million will primarily be made available to the holding company DermaTools to finance phase III of the approval process for the active ingredient DPOCL in Europe. The application will be submitted to the competent authorities of the participating countries in the near term. In order to position CytoTools better on the capital market in the long term, the company has commissioned the experienced interim manager Ingo Middelmenne, Managing Director of Middelmenne & Cie. "In the last few weeks, together with the Management Board, we have started to prepare the recently completed capital measure and to clearly structure the basic financing of phase III for the coming years", explains Ingo Middelmenne. "In the future CytoTools will be in contact with existing and new investors in a more transparent and extensive way. In the further course of the year, our focus will therefore clearly be on the targeted approach of German and above all European small-cap investors". Accordingly, in the coming months CytoTools will publish an exact milestone planning for the course of phase III up to the approval of DPOCL and DermaPro(R) in Europe. Further information on CytoTools AG and its holdings is available at www.cytotools.de.
CytoTools AG is a German biotechnology holding company which translates results from basic cell biological research on cell growth and programmed cell death into new forms of therapy for the causal treatment of disease and healing. CytoTools' versatile product pipeline includes self-developed chemical compounds and biopharmaceuticals which have the potential to offer new treatment options in dermatology, cardiology, urology and oncology. CytoTools is structured as a technology holding and investment company and as such has holdings in the subsidiaries DermaTools Biotech GmbH (62 %) and CytoPharma GmbH (50 %). Disclaimer This release contains certain forward-looking statements. These reflect the opinion of CytoTools as of the date of this release. The results actually achieved by CytoTools may differ considerably from the statements made in the future-oriented statements. CytoTools is not obliged to update forward-looking statements.
26.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | CytoTools AG |
| Klappacher Str. 126 | |
| 64285 Darmstadt | |
| Germany | |
| Phone: | +49 (0)6151-951 58 12 |
| Fax: | +49 (0)6151-951 58 13 |
| E-mail: | kontakt@cytotools.de |
| Internet: | www.cytotools.de |
| ISIN: | DE000A0KFRJ1 |
| WKN: | A0KFRJ |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Basic Board), Hamburg, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1123231 |
| End of News | DGAP News Service |
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1123231 26.08.2020
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