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2016-02-16

FIT Biotech Oy : Significant preclinical results for FIT Biotech in applying GTU® technology to gene therapy

FIT Biotech Oy
Company release February 16, 2016 at 8:30am EET
Significant preclinical results for FIT Biotech in applying GTU® technology to
gene therapy

In September 2015, the biotechnology company FIT Biotech Oy announced adding time points in its ongoing studies to demonstrate proof-of-concept of the GTU® technology in gene therapy. The programme has progressed, and the company has obtained positive results. The expressed antibody reached a desired serum concentration that was sustained the entire observation period of 12 weeks. This is a prerequisite for developing gene therapy for clinical use. The next studies, still within the preclinical phase, will use antibodies mimicking proper medical treatment.

The results now obtained are significant and justify continued preclinical studies towards a clinical study permit. The present studies measure the efficacy of the GTU® technology in producing the selected marker antibody, which is an indicator of the efficacy of the technology. FIT Biotech has submitted a patent application on the technology applying GTU® technology in gene therapy, calling it gtGTU® technology (gene therapy, Gene Transport Unit).

FIT Biotech CEO, Rabbe Slätis:
"We believe that gene therapy applications will open up new significant opportunities for FIT Biotech, which will further increase the company's attractiveness among international players and will improve FIT Biotech's possibilities to enter into licence agreements with large pharmaceutical companies. As a result of systematic product development, we are moving into a new business area, which is important for the company's future business success. Our view is that FIT Biotech is one of the frontrunners in global gene therapy development."

Gene therapy, the treatment or prevention of a disease through gene transport, is a fast-growing medical research area where desired genes are transported into a human's somatic cells inducing the cells to produce proteins that treat or prevent a disease.

FIT BIOTECH OY

Board of Directors

Further information:
Rabbe Slätis
CEO
FIT Biotech Oy
Telephone: +358 40 840 6749
Email: rabbe.slatis@fitbiotech.com

Certified Advisor: Translink Corporate Finance Oy, telephone +358 20 743 2790
FIT Biotech Oy in brief
FIT Biotech Oy is a biotechnology company established in 1995 that 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 market maintained by Nasdaq Helsinki Oy.
DISTRIBUTION:
NASDAQ OMX Helsinki
Principal media
www.fitbiotech.com
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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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