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Cytos Biotechnology Ltd Reports Second Quarter 2013 Financial Results and Recent Developments
Date:8/5/2013

ZURICH, August 6, 2013 /PRNewswire/ --

  • Global Phase 2b clinical trial with CYT003 progressing as planned
  • Development team for CYT003 strengthened
  • A*Star and Cytos bring Singapore's first influenza vaccine to clinical testing
  • All agenda items approved at the Annual Shareholders' Meeting

Cytos Biotechnology Ltd. ("Cytos" or the "Company") announced today its financial results and business highlights for the quarter ended June 30, 2013.

Highlights

The Phase 2b clinical trial with Cytos' lead product candidate CYT003 in allergic asthma is progressing as planned. The clinical trial is enrolling patients at more than ninety centers, in eight countries, in the United States and Europe. Approximately 360 adult patients with moderate to severe allergic asthma, not sufficiently controlled on current standard inhaled corticosteroid (ICS +/- LABA) therapy, will be treated in this study. Enrolment is expected to be completed by year-end 2013. Top-line data are planned for Q2 2014. Upon completion of enrolment, Cytos can call the second tranche of the convertible loan notes and will be receiving a payment of CHF 6.625 million.

The development team for CYT003 has been further strengthened with the hire of Dr. Dorothee Krumwieh, who joined Cytos in May 2013 as Vice President and Program Leader for CYT003. Prior to joining Cytos, Dr. Krumwieh was in charge of the neurological development programs at Merck Serono. Previously, Dr. Krumwieh held various positions in research and regulatory affairs and lead cross functional development programs in oncology and dermatology at Merck Serono, Serono and Behringwerke AG. Dorothee Krumwieh received a PhD in immunology from the University of Freiburg im Breisgau, Germany
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