Cytos Biotechnology AG to Raise up to CHF 37 Million from International and Strategic Investors to Advance Asthma Clinical Program
Cytos Biotechnology AG, a Swiss biotech company developing a new class of biopharmaceutical products called ImmunodrugsTM, today announced that it has signed agreements with a syndicate of international and strategic investors to raise a total of up to CHF 37 million (USD 40 million) in equity and debt.
The new funds will recapitalize Cytos Biotechnology AG and enable it to further advance its programs and specifically to conduct a global multi-center Phase IIb clinical trial with its lead product CYT003-QbG10 in patients suffering from allergic asthma, and to develop additional pipeline programs.
Bär & Karrer acted as legal advisor to Cytos Biotechnology AG. The team included Michael Trippel, Markus Wang, Dieter Dubs, Felix Kappeler, Ariane Riedi and Michael Barrot.