Cytos Biotechnology announces alignment of resources following setback in the development of its hypertension vaccine CYT006-AngQb

Cytos Biotechnology today announced results from a phase IIa study with CYT006-AngQb, a vaccine candidate for the treatment of hypertension

Schlieren, Zurich, Switzerland | March 17, 2009 | Cytos Biotechnology Ltd (SIX:CYTN) today announced results from a phase IIa study with CYT006-AngQb, a vaccine candidate for the treatment of hypertension. The study was a double-blind, placebo-controlled clinical trial in 69 patients with mild to moderate hypertension designed to explore the safety, tolerability and exploratory efficacy of a modified treatment regimen. The study results show that the vaccine was safe and well tolerated, but the new treatment regimen failed to induce a significant reduction of the ambulatory blood pressure. The company is analyzing the data in detail to understand the reasons for this negative outcome, particularly in the light of an earlier phase IIa trial which showed a clinically relevant and significant reduction of the blood pressure. It has decided to suspend all process development activities with CYT006-AngQb and preparations towards the previously planned phase IIb study until availability of results of a third study in Q3, 2009 and detailed data from the biochemical analyses of the effect of the new regimen on the renin-angiotensin system.

In order to align its financial resources on the key development programs and its collaborations with Novartis and Pfizer, the company plans to reduce its workforce of presently 135 full time employees by up to 57. As a result of the planned workforce reduction and the concentration on the most advanced research and development programs, the gross cash burn rate of the company should be reduced in 2009 to approximately CHF 36 million and in 2010 to approximately CHF 25 million, which aims at extending the available financing of the company’s research and development expenditures into the year 2012.

About Cytos Biotechnology

Cytos Biotechnology Ltd is a public Swiss biotechnology company that specializes in the discovery, development and commercialization of a new class of biopharmaceutical products – the Immunodrugs™. Immunodrugs™ are intended for use in the treatment and prevention of common chronic diseases, which afflict millions of people worldwide. Immunodrugs™ are designed to instruct the patient’s immune system to produce desired therapeutic antibody or T cell responses that modulate chronic disease processes. Taking advantage of the high flexibility of its Immunodrug™ platform, Cytos Biotechnology has built a diversified pipeline of different Immunodrug™ candidates in various disease areas, of which five are currently in clinical development. The Immunodrug™ candidates are developed both in-house and together with Novartis, Pfizer and Pfizer Animal Health. Founded in 1995 as a spinoff from the Swiss Federal Institute of Technology (ETH) in Zurich, the company is located in Schlieren (Zurich). Currently, the company has 135 employees. Cytos Biotechnology Ltd is listed on the SIX Swiss Exchange  (SIX:CYTN).

SOURCE: Cytos Biotechnology Ltd

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