The Higher Court of the Canton of Zurich approves the conversion of the convertible bonds into shares

Schlieren (Zurich), Switzerland, March 13, 2015 - Cytos Biotechnology Ltd ("Cytos") today announced that the superior composition authority of creditors of the canton of Zurich ("Obere Kantonale Nachlassbehörde") has ruled that the sole resolution of the bond restructuring proposed on January 26, 2015 to the bondholders and submitted to the court on February 2, 2015 is approved. The approval becomes valid and binding within thirty days unless an appeal is filed with the Federal Court. The conversion of the bonds into 77.49 million shares will take place in the second half of April 2015 provided that the extraordinary shareholders' meeting on March 16, 2015 approves the capital increase with two thirds of the votes present or represented at the meeting. After the conversion, a total of around 108 million shares will be issued and outstanding.

From the original payment obligations of CHF 22.2 million from the convertible loan notes, CHF 2 million have been reduced via exchange of loan notes with convertible bonds. The non-subordinated part of CHF 14.2 million has been repaid at maturity. As a result, the outstanding payment obligation towards the loan note holders amounts to CHF 6 million which continues to be subordinated. Cash and cash equivalents per the end of February 2015 amount to around CHF 3.4 million.

For further information, please contact:

Cytos Biotechnology Ltd
Harry Welten, MBA
Chief Financial Officer
Tel: +41 44 733 46 46
harry.welten@cytos.com

About Cytos Biotechnology Ltd

Cytos is a public biopharmaceutical company located in Schlieren (Zurich), Switzerland. The Company is listed according to the Main Standard on the SIX Swiss Exchange Ltd under the symbol CYTN.

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