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INTERIM REPORT CHRONTECH PHARMA JANUARY-SEPTEMBER 2011

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  • Research and development costs amounted to SEK 10.5 (6.2) m
  • The loss after tax was SEK -13.9 (-9.6) m
  • Earnings per share were SEK -0.14 (-0.13)
  • The company had no net sales for the period
  • The controlled phase IIb clinical study of ChronVac-C® in combination with standard-of-care has started.
  • ChronTech has entered as a partner in a collaborative project to improve on HCV vaccines with Karolinska Institutet, University of Gothenburg, and Vecura, which is funded by Vinnova by up to SEK 4.5 m. The project started in November 2010 and lasts for three years.
  • ChronTech Pharma AB has signed a collaboration agreement with Transgene S.A. (Euronext Paris: FR0005175080) and Inovio Pharmaceuticals, Inc. (NYSE Amex: INO) to evaluate a novel therapeutic vaccination strategy against genotype 1 hepatitis C virus (HCV) in a phase I clinical study.
  • ChronTech Pharma has raised 25 million SEK (4 million USD) in a private placement.
  • The Extraordinary General Meeting held 19 August, 2011 resolved to elect Dr John Climax, Dr Simon Kukes and Dr Prem Lachman as members of the Board. The EGM also approved of the resolution to subscribe a targeted new issue of shares and authorized the Board to resolve to issue new shares.
  • Enrollment of patients in the controlled phase IIb clinical study of ChronVac-C® in combination with standard-of-care has started.

Events after the end of the reporting period

  • ChronTech carries out new issues of shares

For more information, please contact:

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

Tel: +46 8 5858 1313, mobile phone: +46 709 28 05 28,
E-mail: anders.vahlne@ki.se

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 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.

 

 

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