MediGene AG

euro adhoc: MediGene AG
MEDIGENE IMPLEMENTS SPIN-OFF OF ITS CARDIOLOGICAL DRUG DISCOVERY PROGRAM: INDEPENDENT COMPANY LARNAX GMBH FOUNDED (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- Martinsried/San Diego, March 31, 2003: Today the biopharmaceutical company MediGene AG (TecDax: MDG) and the seed capital investment company BioM AG jointly established LARNAX GmbH for the discovery and development of novel drugs against cardiac and metabolic diseases. MediGene's cardiological research program will evolve into LARNAX GmbH as of April 1, 2003. MediGene holds almost an 25 % share in LARNAX GmbH. The cardiological research team of approximately 25 employees will be accepted by the new company. This spin-off will enable MediGene to realize a cost saving of approx. EUR 6.5 million, as anticipated in the company's business plan for 2003. With the foundation of the new company, MediGene has implemented the decision to spin off its cardiological research program, as announced last year. This will enable the company to focus on its core competencies, the development of therapies against tumor diseases. end of announcement euro adhoc 31.03.2003 --------------------------------------------------------------------- Further inquiry note: MediGene AG, Email: investor@medigene.com, Fax: ++49 - 89 - 85 65- 2920, Julia Hofmann / Julia v. Hummel, Public Relations, Tel.: ++49 - 89 - 85 65- 3324 / -2916, Michael Nettersheim, Investor Relations, Tel.: ++49 - 89 - 85 65 - 2946 Branche: Biotechnology ISIN: DE0005020903 WKN: 502090 Index: Nemax 50, Prime Standard, TecDAX Börsen: Frankfurter Wertpapierbörse / Neuer Markt Baden-Württembergische Wertpapierbörse / free trade Bayerische Börse / free trade Berliner Wertpapierbörse / free trade Bremer Wertpapierbörse (BWB) / free trade Börse Düsseldorf / free trade Hamburger Wertpapierbörse / free trade Niedersächsische Börse zu Hannover / free trade

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