FIT Biotech in Consortium Selected For Final Negotiations with EC – FIT Biotech

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FIT Biotech in Consortium Selected For Final Negotiations with EC

PRESS RELEASE 6 JULY 2015 at 9.00

FIT Biotech in Consortium Selected For Final Negotiations with EC

FIT Biotech Oy ('FIT Biotech' or the 'Company'), amongst other EU Horizon 2020 consortium members, has received a confirmation that their consortium has passed the selection process and that the European Commission is now in a position to proceed to the preparation of the grant agreement based on the consortium's proposal.

The consortium comprises of several leading European research institutions, together with large international pharma companies and FIT Biotech Oy. The consortium research topic is "Vaccine development for poverty-related and neglected infectious diseases: HIV/AIDS." The consortium plans to use FIT Biotech's proprietary drug candidates in clinical trials. The consortium work is expected to commence after signing of the respective EC grant agreements, which is scheduled to take place in November 2015, subject to satisfactory results of the final phase of the grant application process, the grant negotiations.

FIT Biotech's CEO, Kalevi Reijonen, commented: "We are delighted to have received this positive feedback and invitation to proceed to grant preparation from the European Commission. The formation of this European HIV Vaccine Alliance (EHVA) is a major milestone as an EU platform for the discovery and evaluation of novel prophylactic and therapeutic vaccine candidates.  It is also very pleasing to note that FIT Biotech's technology has received such a positive validation after the highest level professional review and evaluation."

Additional information:

CEO Kalevi Reijonen, FIT Biotech Oy
Email: kalevi.reijonen@fitbiotech.com
Phone: +358 40 843 5695

FIT Biotech Oy in brief:

FIT Biotech Oy is a biotechnology company established in 1995, focusing on DNA vaccines and gene therapy. The company bases its products on its patented GTU ® (Gene Transport Unit) technology. Through GTU technology, FIT Biotech develops DNA vaccines in order to both prevent and also treat various diseases. Identified application areas include HIV, tuberculosis (and other infectious diseases) as well as gene therapy (cancer, autoimmune diseases). Other application areas are under development. FIT Biotech Oy is listed on NASDAQ First North (ticker: FITBIO). More information can be found at www.fitbiotech.com.

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