MediGene AG

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

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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
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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



Weitere Meldungen: MediGene AG

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