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DIEVINI HOPP BIOTECH HOLDING GMBH & CO. KG (NYSE:AGX) Agennix AG Provides Strategic Update

Directive transparence : information réglementée

09/04/2013 22:59
DGAP-News: Agennix AG / Key word(s): AGM/EGM Agennix AG Provides Strategic Update 09.04.2013 / 22:59 --------------------------------------------------------------------- / Press Release For Immediate Release Agennix AG Provides Strategic Update Announces Extraordinary General Meeting Munich (Germany) and Princeton, NJ, April 9, 2013 - Agennix AG (Frankfurt Stock Exchange: AGX) today provided an update regarding strategic options and its activities to further conserve cash. The Company continues to pursue strategic opportunities, including potential combinations with other life sciences companies. Agennix also is continuing to take steps to further conserve cash, including an additional staff reduction, as well as plans to de-list from the Prime Standard sub-section of the Frankfurt Stock Exchange and list on the General Standard of the regulated market. Additionally, the Management Board and Supervisory Board today have approved an agenda for an Extraordinary General Meeting (EGM) of Agennix AG to be held on May 22, 2013. At this EGM, the Management Board will discuss the previously announced notice of loss pursuant to § 92 par. 1 AktG. The Company continues to pursue various strategic options and will ask shareholders to vote on two proposals, among other items, related to the future of the Company. These items are 1) a 20:1 reverse stock split, and 2) the liquidation of Agennix AG, the public entity. The liquidation of Agennix AG would eliminate the public entity but still permit potential transactions involving the Company's clinical assets and its U.S. subsidiaries as part of the process. The reverse stock split is proposed to reduce the number of outstanding shares to address the situation under § 92 par. 1 AktG and to permit issuance of shares in connection with a potential strategic transaction. Management expects to make a recommendation by the date of the EGM to approve either the reverse stock split or the liquidation proposal, depending on progress made towards completing a strategic transaction and the nature of such a deal. Torsten Hombeck, Ph.D., Chief Financial Officer and Spokesperson of the Management Board, said: 'We are asking shareholders to consider different options for the Company as we pursue strategic opportunities. The drug development expertise and foothold that we have retained in the U.S. continue to be of interest to potential partners, and our talks with various companies are ongoing.' Agennix AG is a publicly listed biopharmaceutical company. The Company's clinical development programs include oral talactoferrin alfa; a topical gel form of talactoferrin and RGB-286638, a multi-targeted kinase inhibitor. Agennix's registered seat is in Heidelberg, Germany. The Company's site of operation is in Princeton, New Jersey. For additional information, please visit the Agennix website at www.agennix.com. This press release contains forward-looking statements, which express the current beliefs and expectations of the management of Agennix AG. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from those expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this press release. There can be no guarantee that the Company will have or be able to obtain additional financial resources to avoid insolvency or that it will be successful in pursuing a strategic transaction. Forward-looking statements speak only as of the date on which they are made and Agennix undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future. Agennix(R) is a trademark of Agennix AG. For further information, please contact: Barbara Mueller Manager, Investor Relations & Corporate Communications Phone: +49 (0)89 90 40 5464 ir@agennix.com End of Corporate News --------------------------------------------------------------------- 09.04.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Agennix AG Im Neuenheimer Feld 515 69120 Heidelberg Germany Phone: +49 (0)89 90 405 464 Fax: +49 (0)89 90 405 811 E-mail: ir@agennix.com Internet: www.agennix.com ISIN: DE000A1A6XX4 WKN: A1A6XX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 206596 09.04.2013

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