RE: Some Very Sad people Around2 May 2019 08:49
Google translation:
FIT Biotech Oy's Board of Directors has decided to file a bankruptcy petition on Monday. The reason for the bankruptcy is the interruption of the financing agreement.
According to the company, despite the existing financing agreement, Alpha Blue Ocean has not paid the EUR 500,000 installments under the agreement after 12.11.2018.
"I am extremely disappointed that the company's financing ran out of the agreed financial program. As a result, we have had to suspend their numerous ongoing in the company's business and drug development related to the development of our project," commented President and CEO Erkki Pekkarinen release.
FIT Biotech developed new treatments for HIV and AIDS and a vaccine against Ebola. The company is listed on First North. Trading in shares has been suspended.