FIT Biotech Oy: Conversion of FIT Biotech Oy's Con

FIT Biotech Oy

Company release February 21, 2017 at 10:00 am

Conversion of FIT Biotech Oy's Convertible Notes into shares

Related to Convertible Note and Warrant Programmes established on September 26, 2016 between the Fit Biotech Oy ("Company") and Suomen itsenäisyyden juhlarahasto Sitra ("Sitra") the Company's board of directors has today resolved to approve Sitra's request relating to the funding programme to convert EUR 50,000 worth of Convertible Notes into the Company's K shares.

Due to the conversion of the Convertible Notes, the Company issues 668,449 new K shares in the Company to Sitra with the conversion price of EUR 0.0748 per share.

As a result of the issue of the new K shares in the Company, the total number of shares in the Company will increase to 48,384,176 shares, and the share capital of the Company will be increased by EUR 49,999.99. After the issue of the new K shares in the Company, the Company's shares will be divided in share series as follows: 48,313,712 K shares, 5,229 A shares and 65,235 D shares.

The increase of the share capital and new K shares in the Company will be registered in the Trade Register on or about February 22, 2017 and the new K shares will be admitted to trading on First North Finland on or about February 23, 2017.

FIT BIOTECH OY

Board of Directors

For further information: Chairman of the Board of Directors Juha Vapaavuori E-mail: juha.vapaavuori@fitbiotech.com Tel: +358 50 372 0824

Certified Advisor: Aalto Capital Partners Oy, tel. +358 40 587 7000

About FIT Biotech FIT Biotech Oy is a biotechnology company established in 1995. The company 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 marketplace maintained by Nasdaq Helsinki Oy.

DISTRIBUTION: NASDAQ OMX Helsinki Principal media