Brief: CytoTools - Disputes Between CytoTools, DermaTools, Shareholders Ended

bioXXmed AG

09/03/2022 06:54

March 9 (Reuters) - CytoTools AG  T5OG.DE :
    * SAID ON TUESDAY: AGREEMENT ENDS DISPUTES BETWEEN
CYTOTOOLS,
DERMATOOLS, AND SHAREHOLDERS OF DERMATOOLS
    * AGREEMENT ON THE THE COMMON GOAL OF GETTING THE PRODUCT
DERMAPRO(R) APPROVED AS QUICKLY AS POSSIBLE
    * IT WAS DECIDED THAT DERMAPRO(R) SHOULD BE APPROVED AS A
MEDICAL
DEVICE AND NOT AS A MEDICINAL PRODUCT
    * DERMATOOLS BIOTECH GMBH WILL NOW CONDUCT THE CONDUCT THE
ADAPTED
PHASE III STUDY AND THE NECESSARY STEPS TO OBTAIN THE CE
CERTIFICATE FOR DERMAPRO(R)
    * CYTOTOOLS WILL BEAR THE COSTS FOR THE ADAPTED PHASE III
STUDY
AND THE APPROVAL AS A MEDICAL PRODUCT AS PART OF A CAPITAL
INCREASE, THROUGH WHICH DERMATOOLS BIOTECH GMBH WILL RECEIVE EUR
1.5 MILLION
    * IN ORDER TO ACHIEVE AN APPROPRIATE BALANCE BETWEEN
INTERESTS OF
THE MINORITY AND MAJORITY SHAREHOLDERS, THE ARTICLES OF
ASSOCIATION OF DERMATOOLS HAVE BEEN ADAPTED AND AN ADVISORY
BOARD HAS BEEN APPOINTED
    * IN IMPLEMENTATION OF THE AGREEMENT, THE RESOLUTION RAISED
AGAINST THE AGAINST THE CAPITAL INCREASE RESOLUTION OF CYTOTOOLS
AG OF DECEMBER 22, 2021, IS WITHDRAWN
    * CLEARS THE WAY FOR THE IMPLEMENTATION OF THE CAPITAL
INCREASE OF
CYTOTOOLS IN ORDER TO REDEEM EXISTING EXTERNAL LIABILITIES AND
TO PROVIDE CYTOTOOLS WITH THE NECESSARY THE NECESSARY FUNDS FOR
THE CONTINUATION OF ITS BUSINESS OPERATIONS

    
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