Cytos Biotechnology Ltd Reports Second Quarter 2012 Financial Results, Recent Development and Outlook

Cytos Biotechnology Ltd Reports Second Quarter 2012 Financial Results, Recent Development and Outlook PR Newswire SCHLIEREN, Switzerland, July 30, 2012 SCHLIEREN, Switzerland, July 30, 2012 /PRNewswire/ -- Cytos Biotechnology Ltd substantially increases its cash by raising CHF 33.58 million through equity and debt Board of Directors further strengthened by the nomination of Dr. Christian Itin, former President and CEO of Micromet Inc., as a Non-Executive Director Large global Phase IIb program with CYT003 in allergic asthma planned to start in 2H12 Cytos Biotechnology Ltd ("Cytos" or the "Company") announced today financial results and business highlights for the quarter ended June 30, 2012. Highlights During the first half of 2012 the Company raised CHF 33.58 million through equity and debt whereas CHF 23.75 million was provided as equity and CHF 6.625 million was provided in the form of convertible loan notes - both from an international syndicate of investors which include venBio, Abingworth, Aisling Capital and Amgen. Furthermore, CHF 3.20 million in the form of equity was raised through a rights offering to existing shareholders. Cytos intends to use the proceeds primarily to conduct a large global phase IIb study in allergic asthma with CYT003.