FIT BIOTECH OY Company release June 16, 2016 at 14:50 EET FIT Biotech expands collaboration with Icosagen in the development of gene-based treatments FIT Biotech Oy (Nasdaq Helsinki: FITBIO) signed today a research and development agreement with Icosagen Cell Factory AS, an Estonian biotech company. FIT Biotech and Icosagen will expand their existing research collaboration focused on the development of gene-based treatments using FIT Biotech's proprie-tary GTU®-vector technology. The new agreement seeks to deliver genes to tissues to produce on a long-term basis and at high expression levels monoclonal antibodies for the treatment of certain cancers and infectious diseases. Icosagen will conduct preclinical development for several of FIT Biotech's drug devel-opment programs that target selected human monoclonal antibodies.  The new agreement with Icosagen contributes to the company's strategic shift towards gene-based treatments. All intellectual property rights related FIT Biotech's GTU®-technology are retained in FIT Biotech. "FIT Biotech is enthusiastic to expand the collaboration with Icosagen to use GTU® to express existing ap-proved monoclonal antibodies," said Dr. Kalevi Reijonen, SVP and CMO of FIT Biotech. Professor Mart Ustav, CEO of Icosagen Cell Factory, said, "We are pleased to provide our world-class re-search services to FIT. Our two companies have worked well in the past on earlier projects. We look for-ward to a successful project outcome." FIT BIOTECH OY Further information: James Kuo CEO, FIT Biotech Oy Tel: +358 44 0331307, USA:  +1 858 220 5703 E-mail: james.kuo@fitbiotech.com Certified Advisor: Translink Corporate Finance Oy, tel. +358 20 743 2790 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 GTU® technology in its drug development programmes. Application areas include cancer (gene therapy) and infectious diseases such as HIV and tuberculosis, as well as animal vaccines. FIT Biotech shares are listed on the First North Finland market maintained by Nasdaq Helsinki Oy. Icosagen Cell Factory OÜ in brief (Eerika tee1, Ülenurme vald, 61713 Tartumaa, ESTONIA) possesses expertise in the field of development of diagnostic and therapeutic antibodies using proprietary HybriFree technology, provides recombinant pro-tein, monoclonal antibody and virus-like particles production service for fee to customers using proprietary QMCF technology for preclinical research, develops the novel cGMP compatible technology for industrial production of therapeutic proteins and develops cell- based assays for basic research and pharmaceutical development. Thereto ICF has expertise in the field of development, production and characterization of biological therapeutics and is actively operating in other fields of biotechnolology. DISTRIBUTION: Nasdaq Helsinki Principal media www.fitbiotech.com This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: FIT Biotech Oy via GlobeNewswire [HUG#2021209]