[May 31, 2016]

Oncovista Dormant

Oncovista Innovative Therapies, Inc. (OTCBB: OVIT) ("Oncovista" or the "Company") is dormant. On April 29, 2016, both William Brock and Alexander Ruckdaschal submitted their resignation from the Board of Directors of Oncovista. Consequently, the license rights of L-nucleoside conjugate OVI-117 will return to the licensor, Lipitek International, Inc.

About Oncovista

OncoVista Innovative Therapies, Inc. a bioparmaceutical company develops targeted anticancer therapies by utilizing tumor-associated biomarkers. Its oncology drug candidate pipeline includes Cordycepin (OVI-123), which is in Phase I/II clinical trials for the treatment of Refractory TdT Positive Leukemias; and L-Nucleoside Conjugates (OVI-117) that is under clinical development for the treatment of Colon Cancer. The company was founded in September 2004 and is based in San Antonio, Texas.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160531006216/en/

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