Cytos Biotechnology Ltd, a biopharmaceutical company focused on the development of targeted immunotherapies, has completed patient enrolment in the on-going phase IIb study with its lead product CYT003. This study investigates the effectiveness, safety and tolerability of CYT003 in patients with moderate to severe allergic asthma not controlled on their standard treatment.

Based on the completion of the enrolment of this study, Cytos will call the second tranche of the convertible loan notes in the amount of CHF 6.625 million from Abingworth, venBio, Aisling and Amgen, which was part of the investment by this syndicate of investors in May 2012.

Dr Christian Itin, chairman and CEO of Cytos, said, “We are pleased with the progress of our phase IIb study in patients with moderate to severe allergic asthma. The study is on track and we expect topline data from the study to be available in the second quarter of 2014.”

Cytos is a public biopharmaceutical company focused on the development of targeted immunotherapies. The company’s lead product candidate CYT003 is a novel, first-in-class, immune modulator in phase II clinical development as a potential new treatment for asthma.CYT003 has a novel mechanism of action that inhibits the immune response that causes asthma, and may therefore be beneficial for the control of asthma.