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ParkView Partners (“ParkView”) acted as sole financial advisor to listed CytoTools AG (“CytoTools”), a highly-innovative biotech company based in Darmstadt, on the investment by an affiliate of the Klocke Pharma Group (“Klocke Group”).
As part of the transaction, CytoTools has issued 0.37m new shares by way of a cash capital increase without subscription right to PIH Pharma Industry Holding GmbH, a subsidiary of Klocke Group. CytoTools intends to use the proceeds to launch the European Phase III clinical trials for its major product DermaPro for the diabetic foot indication. The investment by Klocke Group is a major milestone on the funding of the European Phase III clinical trials of DermaPro and the active ingredient DPOCL for the treatment of (large) chronic wounds, especially the diabetic foot. ParkView and CytoTools have been able to find an investor (for CytoTools) within a timeframe of only 3 months and even during the Covid-19 induced general lockdown.
CytoTools is a highly innovative and founder-led, listed biotech company with several promising innovative pipeline products. CytoTools’ current key product is DermaPro, a dichloric acid derived drug, applied to chronic wounds with a focus on therapeutic applications Diabetic Foot Ulcers and Venous Leg Ulcers.
Family-owned Klocke Holding specializes in the contract development, production and packaging of drugs, vaccines and cosmetic products and employs more than 2,000 people in Europe and the USA.
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