Viatar CTC Solutions Voluntarily Delists from OTCQB to Pursue Private Financing

Dec. 20, 2016 9:01 am

LOWELL, MA / ACCESSWIRE / December 20, 2016 / Viatar CTC Solutions Inc. (OTCQB: VRTT) announced today that it has taken steps to voluntarily delist from the OTCQB market in order to pursue private financing.

Viatar took these actions because of the abysmal liquidity and valuation of its stock on the OTCQB. Over the past 18 months a grand total of approximately 300,000 shares traded at prices ranging from $1.10 per share to the recent $0.30 per share. By contrast, during that same period Viatar raised an aggregate of $6.5 million of equity capital at a weighted average price of $1.80 per share. This significant dichotomy between Viatar's public and private valuation now hinders its ability to raise new capital, particularly as Viatar embarks on a new private financing effort to fund its plan to achieve European regulatory approval and commercialization by the end of 2017.

Viatar also announced that its Board of Directors has been reduced from five to one, with only Mr. Ilan Reich continuing to serve.

About Viatar CTC Solutions

Viatar CTC Solutions Inc., the cancer dialysis company, is a medical technology company focused on the treatment of patients with metastatic cancer. The company's lead product, the Viatar® Therapeutic Oncopheresis System, removes circulating tumor cells from whole blood using its proprietary, patented cross-flow filtration technology. Pending regulatory approval targeted for 2017, it will be used as a periodic therapy to improve overall survival for a wide range of solid tumor types such as lung, breast, colon, prostate and pancreatic cancers. This technology also powers the company's liquid biopsy products, which are collection systems for use by genetic testing companies, researchers and medical oncologists that provide a greater quantity and purity of circulating tumor cells for their molecular analysis and personalized medicine objectives.

Forward Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in the Company's filings with the SEC.

For More Information:

Ilan Reich
Chairman & CEO

SOURCE: Viatar CTC Solutions Inc.

December 20, 2016 - 9:01 AM EST

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