SYGNIS Pharma AG to Discontinue Ongoing R&D Project, Trim Workforce
Heidelberg 20 December 2012 - SYGNIS Pharma AG (Frankfurt: LIO1; ISIN:
DE000A1RFM03, Prime Standard) announced today the discontinuation of its
therapeutic R&D project KIBRA and the adaptation of its organisation to the new
business activity. At the Heidelberg site the staff will be reduced by 10 employees.
These measures are implemented to concentrate the financial resources on the
development and marketing of novel technologies in molecular biology in line with
the new corporate strategy. This new business was acquired in 2012 by joining
forces with the Spanish X-Pol Biotech.
Peter Willinger, Chief Financial Officer, stated: "Despite good progress in the project, an outlicensing of the KIBRA project was unfortunately not possible within the available timeline. The KIBRA project can not be continued with internal resources. The realignment of the company regrettably makes a staff reduction necessary. I would like to extend my sincere gratitude to all employees affected for their excellent work for SYGNIS."
For further information please contact:
SYGNIS Pharma AG
Peter Willinger
CFO
SYGNIS Pharma AG
Tel.: +49 6221 454 836
E-mail: peter.willinger@sygnis.de