Heidelberg, 27 November 2008 – At today’s Annual General Meeting of SYGNIS Pharma AG (Frankfurt: LIO; ISIN DE0005043509; Prime Standard) shareholders representing more than 38 percent of the capital approved all proposals of the Management. With an overwhelming majority, the shareholders also approved the discharge of the members of the Supervisory and the Management Board for the past Fiscal Year. Furthermore, shareholders approved the stock option plan and the creation of authorised capital.
“During the Fiscal Year 2007/2008 and since that time we have successfully worked on establishing a solid basis for the sustainable growth of SYGNIS”, Dr. Alfred Bach CEO of SYGNIS Pharma said in his speech to shareholders. “We remain fully focused on the development of our innovative CNS pipeline and its diversification with new product candidates.” SYGNIS plans to initiate a Phase II efficacy study for AX200 for the treatment of stroke in spring 2009. In addition, SYGNIS will complete the integration of Amnestix Inc. which was acquired this summer. The Company will also continue to screen the market for potential in-licencing opportunities.
CFO Peter Willinger stressed the solid financial situation of SYGNIS which had been further strengthened in October by a capital increase. In total SYGNIS raised new capital worth 18.3 mn euros and now holds financial means totalling 28 million euros. With respect to the upcoming projects and the difficult capital market environment SYGNIS finds itself in a financially good position.
About SYGNIS Pharma
SYGNIS Pharma AG, headquartered in Heidelberg, is a specialty pharmaceutical company listed on the Prime Standard of the German stock exchange. The Company is focused on the research, development and marketing of innovative therapies for the treatment of disorders of the Central Nervous System. These include Stroke, Amyotrophic Lateral Sclerosis and neurological disorders resulting from injuries to the brain or spinal cord. All these disorders are characterized by the fact that, as the disease progresses, nerve cells are damaged and die. Although there is great medical demand, there are currently no or only inadequate treatment options available.
One of the central elements in this value-creation chain is the continued development of the existing product pipeline. This is achieved by testing the Company’s proprietary compounds which are already under development in a number of further CNS indications (“line extension”). By means of specific R&D programs at SYGNIS, new pre-clinical drug candidates are identified and evaluated and suitable CNS product candidates are also systematically tested for the purpose of acquisition or in-licensing.
