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Chrontech Pharma AB Release: Sale of Hepatitis Technologies Completed


7/22/2013 9:09:38 AM

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ChronTech has now closed the deal concerning the sale of its hepatitis technologies to the Irish company Avac Pharma Ltd in accordance with the Term Sheet previously published. This means that the Company has received another 625,000 USD, that the earlier loan of 625,000 USD has been assigned, another 1 million USD will be paid within a year, and that Avac Pharma Ltd will pay up to 1.5 million USD for the further development of ChronTechs injection technology IVIN. In accordance with the Term Sheet also 80,274,295 shares have been transferred to ChronTechs certified advisor Remium and the redemption of these shares have been registered with the Swedish Companies Registration Office.

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