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Interim Report January-June 2013  ChronTech Pharma

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  • Research and development costs amounted to SEK 0.9 (6.7) m
  • The loss after tax was SEK -3.6 (-9.6) m
  • Earnings per share were SEK -0.02 (-0.05)
  • The company had no net sales for the period
  • ChronTech Pharma has received a bridge loan of 625 TUSD
  • At the extra general meeting (EGM) in ChronTech Pharma AB on the 16th of May it was resolved to accept the board’s proposal for restructuring of the company and transfer of the Company’s projects  regarding development of DNA-vaccines against hepatitis B and hepatitis C.
  • ChronTech holds the 20-percentage ownership in Opsonic Therapeutics Inc. as well as the entire holding in the needle technology IVIN, and patent applications concerning T cell therapy and tick-borne encephalitis (TBE).
  • The Annual General Meeting on June 26, 2013 resolved to re-elect Thomas Lynch, Anders Vahlne and Matti Sällberg as members of the Board. In addition, Bengt Hemmingsson, was elected as member of the Board.

Events after the end of the reporting period

  • In accordance with the decision of the Extra General Meeting on the 6th of May, 2013, the Swedish Companies Registration Office has now registered the redemption of 80,274,295 shares in ChronTech Pharma AB.
  • ChronTech has now closed the deal concerning the sale of its hepatitis B and C technologies to the Irish company Avac Pharma Ltd. This means that ChronTech has received another 625,000 USD, that the earlier loan of 625,000 USD has been assigned to Avac Pharma Ltd, another 1 million USD will be paid within a year, and that Avac Pharma Ltd will pay up to 1.5 million USD for the further development of ChronTech’s injection technology IVIN.
  • The Board is working on a financing plan that will be made public in short. The company has a negative equity as of 30 June 2013. The transaction with AVAC has been completed after the end of the reporting period and the equity is thereafter positive.

For more information, please contact:

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

Mobile phone: +46 709 28 05 28
E-mail: anders.vahlne@chrontech.se

About ChronTech

ChronTech has 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.

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