November 22, 2018
FIT Biotech expands R&D pipeline
FIT Biotech Oy ("FIT Biotech", "Company", FITBIO: FN Finland) announced that it has included two new candidates to its R&D portfolio. The candidates follow the Company's strategy of focusing on gene-based treatments that are built on its GTU® and gtGTU technology in areas of high unmet medical need.
Candidate FIT-104 is related to an infectious disease and candidate FIT-201 to a rare disease. Due to the early stage of the research the Company does not disclose the application of the candidates more specifically. At the same time and as previously disclosed, FIT Biotech continues its research with its antibody-based drug against Chikungunya. Additionally, the R&D portfolio of the Company includes candidates for treatment of HIV and cancer. The most advanced product is a DNA vaccine FIT-06 that is developed for treating HIV.
CEO Erkki Pekkarinen comments: "New and versatile R&D pipeline is an indication of the direction of our R&D operation. We will take new candidates to our R&D pipeline also in the future. Widening our product development portfolio helps us to diversify business risks significantly. We will announce the progress of our R&D portfolio in due course."
With the biologics market set to grow approximately 11% CAGR to 480 billion by 2024, FIT Biotech is well positioned in this market to meet the demand for better, safer and more cost-efficient biologics against different diseases.
FIT BIOTECH OY
Board of Directors
For further information:
CEO Erkki Pekkarinen
Tel: +358 44 027 0080
Certified Advisor: Aalto Capital Partners Oy, tel. +358 40 587 7000
FIT Biotech 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 its GTU® technology in its development projects, which at the time include gene-based treatments, genetic vaccines and research collaboration. Application areas include cancer (gene therapy) and infectious diseases such as HIV.
FIT Biotech K-shares are listed on the First North Finland market maintained by Nasdaq Helsinki Ltd.