FIT Biotech Oy: FIT Biotech Receives EUR 644,868 Payment from European HIV Vaccine Alliance (EHVA)

FIT Biotech Oy 

Company release 12 July, 2017 at 4:00 PM EET

FIT Biotech Receives EUR
644,868
Payment from European HIV Vaccine Alliance (EHVA)

FIT Biotech Oy ("Company") has received today a EUR 644,868 payment from its HIV collaborator, the European HIV Vaccine Alliance (EHVA).  The payment was received as part of the contracted scheduled payments for manufacturing the Company's investigational DNA-based HIV vaccine for a large multicenter Phase I/2 clinical trial planned to initiate later this year.  EHVA is financed by the Horizon 2020 program of the European Commission.

FIT Biotech manufactures the investigational DNA-based HIV vaccine for EHVA in its own GMP production facility in Tampere, Finland, that is approved by the Finnish Medicines Agency (Fimea). This facility has the capacity to produce investigational drugs up to Phase 2 clinical trials, thus ensuring a rapid capability to introduce new DNA-based drug candidates to clinical trials.

FIT BIOTECH OY

Further information:



James Kuo


CEO


FIT Biotech Oy


Tel: +1 858 220 5703


E-mail: james.kuo@fitbiotech.com

Certified Advisor: Aalto Capital Partners Oy, tel. +358 40 587 7000

About FIT Biotech

FIT Biotech Oy is a biotechnology company established in 1995. The company develops and licenses its patented GTU® (Gene Transport Unit) vector technology for new-generation medical treatments. GTU® is a gene transport technology that meets an important medical challenge in the usability of gene therapy and DNA vaccines.

FIT Biotech applies GTU® technology in its drug development programmes. Application areas include cancer (gene therapy) and infectious diseases such as HIV and tuberculosis, as well as animal vaccines.

FIT Biotech shares are listed on the First North Finland marketplace maintained by Nasdaq Helsinki Oy.