OPSONIC HAS BEEN FINANCED THROUGH A CONVERTIBLE LOAN

8/31/2012 1:35 AM EST

During 2009 ChronTech out licensed an exclusive right to the RAS® technology to the American company, Opsonic Therapeutics, and in return received 20% of outstanding Opsonic stock.

Opsonic Therapeutics has received a convertible loan for USD 750,000 from an American private investor, with a possibility to increase the loan up to two million USD on the same terms. The loan will bear interest at the rate of 5 % and with a three year maturity.

The loan will be converted into shares on the same terms as those on the next larger financing of Opsonic.

For more information, please contact:

Anders Vahlne, CEO and Head of Research, ChronTech Pharma AB

Mobile phone: +46 709 28 05 28,
E-mail:  

About ChronTech

ChronTech develops the therapeutic DNA vaccines ChronVac-C® and ChronVac-B drugs against chronic hepatitis C virus and hepatitis B virus infections, i.e. chronic infections with jaundice causing viruses which can lead to liver cirrhosis and liver cancer. ChronTech has also developed and further develops a patent pending new type of injection needle for a more effective uptake of DNA vaccines. ChronTech also have part ownership in the wound healing therapy ChronSeal®, and in the new platform technology RAS®. The ChronTech share is admitted to trade on First North. Remium Nordic AB is Certified Adviser for ChronTech. For more information, please visit: www.chrontech.se

In the event of any discrepancy between the Swedish and English versions of this press release, the Swedish version will take precedence.