Cytos to raise up to CHF 37 million from international and strategic investors
Cytos Biotechnology AG, a Swiss biotech company listed on the SIX Swiss Exchange agreed with a syndicate of international and strategic investors to raise a total of up to CHF 37 million in equity and convertible debt to recapitalize the company and enable it to further advance its clinical programs. The international investment syndicate is led by US life-sciences private equity group venBio and includes Amgen and funds managed or advised by Abingworth and Aisling Capital. The transaction is subject to shareholders' and regulatory approval and expected to be completed in April 2012.
Lenz & Staehelin advises venBio as lead investor of the investment syndicate. The team is led by partner Matthias Wolf (Corporate/M&A) and includes associates Damian Fischer (Corporate/M&A), Roland Fischer (IP, Finance) and Anna Tomaschek (Corporate/M&A).