MARTINSRIED, GERMANY and PRINCETON, NJ and HOUSTON, TX--(Marketwire - February 10, 2010) - Agennix AG (FRANKFURT: AGX) today announced that the class action lawsuit
brought against its predecessor, GPC Biotech AG, in the United States
District Court for the Southern District of New York, is now fully closed.
In March 2009, the Court issued an order dismissing the consolidated class
action complaint against GPC Biotech in the action that was commenced in
July 2007. Pursuant to that order, the plaintiffs were given the
opportunity to file a motion seeking permission of the Court to file an
amended consolidated class action complaint. The plaintiffs subsequently
filed this motion with the Court and the Company opposed the request. On
December 29, 2009 the Court issued a decision denying the plaintiff's
request to file an amended complaint and ordered that judgment be entered
dismissing the complaint in accordance with the Court's decision of March
12, 2009, with prejudice. The period to file an appeal to that decision has
now expired and the case is fully closed.
About Agennix
Agennix AG is a publicly traded biopharmaceutical company that is
developing novel therapies in areas of major unmet medical need to improve
the length and quality of life of seriously ill patients. The Company's
most advanced program is talactoferrin, an oral targeted therapy that is in
Phase 3 clinical trials in non-small cell lung cancer. Agennix also has
recently reported positive results from a Phase 2 trial evaluating
talactoferrin in severe sepsis. Other clinical development programs include
RGB-286638, a multi-targeted kinase inhibitor in Phase 1 testing; the oral
platinum-based compound satraplatin; and a topical gel form of
talactoferrin for diabetic foot ulcers. Agennix's registered seat is in
Heidelberg, Germany. The Company has three sites of operation:
Martinsried/Munich, Germany; Princeton, New Jersey and Houston, Texas. For
additional information, please visit the Agennix Web site 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
the results, performance or achievements 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. 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.
