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INTERIM REPORT JANUARY-MARCH 2013 CHRONTECH PHARMA

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  • Research and development costs amounted to SEK 0.0 (3.2) m
  • The loss after tax was SEK -1.5 (-4.2) m
  • Earnings per share were SEK -0.01 (-0.02)
  • The company had no net sales for the period
  • ChronTech Pharma has received a bridge loan of 1.25 million USD
  • The three directors William W. Hall, Simon Kukes and John Climax have resigned from the board of directors of ChronTech Pharma AB

Events after the end of the reporting period

  • ChronTech’s controlled clinical study of ChronVac-C® gives mixed results
  • At the extra general meeting (EGM) of ChronTech Pharma AB (below ”the Company”) on the 19th of April 2013 it was resolved to accept that a group of shareholders acquire a percentage of approximately 70 per cent of the Company’s project regarding development of DNA vaccines against hepatitis B and hepatitis C
  • For the execution of the above-mentioned transaction there is a requirement that there is a change in the limits for share capital and number of shares in the Articles of Association. This will be dealt with at an EGM on the 6th of May 2013, which already has been summoned for
  • The Board of Directors of ChronTech has resolved to convene an EGM to be held on 16 May 2013. The Board of Directors of ChronTech Pharma AB (”the Company”) put forward the following additional proposal as step in the reconstruction of the Company as a complement to what was decided at the EGM on the 19th of April 2013. 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. ChronTech will thereafter, if the EGM resolves according to the proposal, hold the 20-percentage ownership in Opsonic Therapeutics Inc. as well as the entire holding in the needle technology IVIN.
  • The Board continues to work to solve the company’s financing

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 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.

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