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FIT Biotech Oy: FIT Biotech Ltd's own equity negative in the end of April - FIT Biotech Ltds' equity will be positive with draw down of the fourth tranche

11:30 EDT 17 May 2018 | GlobalNewsWire (2014)

FIT Biotech Oy
Company release May 17, 2018 at 4:30 pm EET

FIT Biotech Ltd's own equity negative in the end of April - FIT Biotech Ltds' equity will be positive with draw down of the fourth tranche

The Company's own equity including additions according to the Companies Act as of April 30, 2018 was about 41 thousand euro negative. The Board of Directors has taken immediate actions to turn the equity positive.

The fourth tranche of Alpha Blue financing, 500,000 euro, is estimated to be received by May 21st.  A separate company release will be published when the tranche is received.

FIT BIOTECH OY

Board of Directors

For further information:
Chief Executive Officer Erkki Pekkarinen
Tel: +358 44 027 0080
E-mail: erkki.pekkarinen@fitbiotech.com

Certified Advisor: Aalto Capital Partners Oy, tel. +358 40 587 7000

About FIT Biotech

FIT Biotech Oy is a biotechnology company established in 1995. The company develops and licenses its patented GTU® (Gene Transport Unit) vector technology for new-generation medical treatments. GTU® is a gene transport technology that meets an important medical challenge in the usability of gene therapy and DNA vaccines.

FIT Biotech applies GTU® technology in its drug development programmes. Application areas include cancer (gene therapy) and infectious diseases such as HIV and tuberculosis, as well as animal vaccines.

FIT Biotech shares are listed on the First North Finland marketplace maintained by Nasdaq Helsinki Oy.

DISTRIBUTION:
Nasdaq Helsinki
Principal media




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FIT Biotech Oy via Globenewswire

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