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Person › Details

Harry Welten (Cytos Biotechnology AG)

Welten, Harry (Cytos Biotechnology 201203 CFO)

 

Organisation Organisation Cytos Biotechnology AG
  Today Kuros Biosciences AG (SIX: KURN)
  Group Kuros (Group)
Product Product CMP-001 (formerly CYT003) (Checkmate Pharma / Kuros / Cytos)
     

Cytos Biotechnology AG. (3/13/12). "Press Release: Bond Restructuring Final and Binding. Going Concern of Cytos Ensured". Schlieren.

Cytos Biotechnology Ltd ("Cytos") today announced that the convertible bond restructuring approved by the superior composition authority of creditors of the canton of Zurich ("Obere Kantonale Nachlassbehörde") has become valid and binding ("rechtskräftig"). The implementation of the bond restructuring is underway and the nominal value reduction in form of a payment of CHF 2,500 for each convertible bond of CHF 5,000 will be effected on March 20, 2012. As already announced Cytos will cancel treasury bonds in a total nominal amount of CHF 31,255,000.

Harry Welten, Chief Financial Officer of Cytos said: "The successful bond restructuring enables Cytos to remain a going concern and therefore facilitates a potential value maximization of Cytos' lead product CYT003-QbG10".

Additional information can be downloaded from http://www.cytos.com/bondrestructuring.


For further information please contact:

Cytos Biotechnology Ltd
Harry Welten
Chief Financial Officer
Tel.: +41 44 733 46 46
e-Mail: harry.welten@cytos.com
Website: www.cytos.com


About Cytos Biotechnology Ltd

Cytos Biotechnology Ltd is a Swiss public biotechnology company that specializes in the discovery, development and commercialization of a new class of biopharmaceutical products - the Immunodrugs™. Immunodrugs™ are intended for use in the treatment and prevention of common chronic diseases, which afflict millions of people worldwide. Immunodrugs™ are designed to instruct the patient's immune system to produce desired therapeutic antibody or T cell responses that modulate chronic disease processes. The Immunodrug™ candidates are 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 at the SIX Swiss Exchange (SIX:"CYTN").

This foregoing press release may contain forward-looking statements that include words or phrases such as "will", "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, 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.

C y t o s B i o t e c h n o l o g y L t d o W a g i s t r a s s e 2 5 o P o s t f a c h o C H - 8 9 5 2 S c h l i e r e n ( Z u r i c h )
T e l : + 41 44 733 47 4 7 o F a x : + 4 1 4 4 733 47 4 0 o e - M a i l : inf o@cytos.com o Web: www. c y t o s . c o m

   
Record changed: 2020-08-05

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