ChronTech receives extended offer from a group of shareholder
As earlier has been communicated an extra general meeting (EGM) in ChronTech Pharma AB (the Company) on the 19th of April 2013 resolved to accept that a group of shareholders acquire a percentage of approximately 70 per cent of the Company’s projects regarding development of DNA vaccines against hepatitis B and hepatitis C.
The group of shareholders has now offered to acquire the entire, i.e. also the remainder 30% and not only approximately 70% of the Company’s project regarding development of DNA vaccines against hepatitis B and hepatitis C. The purchase consideration now also includes a deferred consideration of 1 MUSD. The proposal also includes the funding of the development of the IVIN DEVICE for use in combination with hepatitis vaccines up to US$1,500,000 on the development of the IVIN DEVICE in exchange for an exclusive license for use with hepatitis vaccines. Please see attached “term sheet”. This ”term sheet” will be available on the Company’s website.
An EGM will be summoned to let the shareholders decide about the above. Shareholders representing more than 60 per cent of the shares in the Company have declared that they will support this new proposal for the reconstruction of the Company.
For more information, please contact:
Anders Vahlne, CEO and Head of Research, ChronTech Pharma AB
Mobile phone: +46 709 28 05 28
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.