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ChronTech Pharma AB Completes Sale of Hepatitis Technologies


Monday, 22 Jul 2013 07:39am EDT 

ChronTech Pharma AB announced that the Company has 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 USD 625,000 that the earlier loan of USD 625,000 has been assigned, another USD 1 million will be paid within a year, and that Avac Pharma Ltd will pay up to USD 1.5 million 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.