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2016-12-16

FIT Biotech Oy: FIT Biotech partners with InnaVirVax for HIV Immunotherapy Clinical Development and Commercialization

FIT Biotech Oy

Company release December 16, 2016 at 9:00 am EET

FIT Biotech Ltd partners with InnaVirVax for HIV Immunotherapy Clinical
Development and Commercialization

FIT Biotech and InnaVirVax today announced a collaboration in HIV-treatment
combining their proprietary immunotherapeutic HIV-vaccines having a
different mode of action with a potentially synergistic effect in functional
HIV-cure. Functional HIV-cure is defined as a sustained remission of
HIV-infection without the need for continuous treatment with chemical drugs,
and no disease progression.

FIT Biotech and InnaVirVax plan to start a phase II trial in 2017 to evaluate
the safety, tolerability, immunogenicity and clinical efficacy of FIT
Biotech's DNA-based HIV-vaccine in combination with InnaVirVax's
immunoprotective vaccine. InnaVirVax will conduct and fund the clinical study
in return for co-ownership of the immunotherapy. Upon successful completion
of the study, the companies plan to jointly seek additional third party
support and resources to further develop and commercialize the combination of
the two products.

Dr. James Kuo, CEO of FIT Biotech, said, "FIT Biotech is excited to enter into
collaboration with InnaVirVax that combines two different therapeutic
approaches to stimulate the immune system against HIV. Combinations of small
molecule pharmaceuticals have an excellent track record in treating HIV and
we are hopeful that combining different immunotherapeutics will also benefit
from this approach without the drug related burden."

Dr. Joël Crouzet, InnaVirVax's CEO, stated, " The key opinion leaders have the
vision that functional cure, a major medical need for people living with HIV
and on combined anti-retroviral therapy, will be addressed by combining
therapeutic approaches. This agreement between FIT and InnaVirVax is
definitely in this mindset and we are excited to collaborate with FIT Biotech
on a functional cure goal."

FIT BIOTECH OY

Board of Directors

For further information:
Chairman of the Board of Directors Juha Vapaavuori
E-mail: juha.vapaavuori@fitbiotech.com
Tel: +358 50 372 0824

James Kuo
CEO
Tel: +358 44 0331307, USA: +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.

About InnaVirVax:

Located at the Genopole® of Evry, a Paris Biopark, InnaVirVax is a
biopharmaceutical company specializing in research and development of
therapeutics for HIV infection in which the company has developed a portfolio
of innovative programs. Incorporated in 2008, the Company has since received
support from the French Ministry of Higher Education and Research, Bpifrance
(the French innovation agency), the French National Research Agency, the
'Centre Francilien de l'Innovation' and CapDecisif and G1J Ile-de-France,
Pradeyrol Development, FaDiese and the FRCI as investors. (www.innavirvax.fr)

DISTRIBUTION:
Nasdaq Helsinki
Principal media

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: FIT Biotech Oy via Globenewswire

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