SYGNIS AG

EANS-News: SYGNIS Pharma AG
SYGNIS announces nine month results of fiscal year 2010/2011

@@start.t1@@--------------------------------------------------------------------------------   Corporate news transmitted by euro adhoc. The issuer/originator is solely   responsible for the content of this announcement. --------------------------------------------------------------------------------@@end@@

quarterly report

Heidelberg (euro adhoc) - SYGNIS announces nine month results of fiscal year 2010/2011

Heidelberg,  14  February  2011  -  SYGNIS  Pharma  AG  (Frankfurt:   LIOK;  ISIN DE000A1E9B74; Prime Standard) today published  its   financial  results  for  the third quarter and the first nine months of the fiscal year  2010/2011  ended  31 December 2010.

Financials

@@start.t2@@• Cash including marketable securities amounted to EUR  9.0  million  (EUR
16.4 million Q3 2009/2010). Long term financial liabilities amounted to  EUR 8.0
         million resulting from a loan which is not due for repayment before 2015.
      • As a result of the Company´s expanded research and development activities,
         total operating expenses in the third quarter of the fiscal year 2010/2011
         increased by EUR 1.3 million to EUR 3.7 million compared to the same
period of the last fiscal year. These expenses include one-time restructuring
costs of EUR 0.2 million.
      • The net loss for the first  nine  months  of  the  fiscal  year  2010/2011
         amounted to EUR -9.0 million (EUR -9.2 million first nine months
2009/2010).
      • On the basis of the resolution of the Annual General Meeting held on
         30 November 2010 SYGNIS reduced the share capital from EUR 41,258,643 to
         EUR 13,752,881 and consolidated the shares in  a  3:1  ratio.  The
released capital of EUR 27.5 million was used to reduce the accumulated loss.@@end@@

Operational Summary

@@start.t3@@• SYGNIS is primarily focused on the completion of the AXIS 2 clinical trial
         and research on the KIBRA pathway. Following restructure of  the  business
         and the resulting long-term reduction in costs, the Company  is  optimally
         positioned for future strategic transactions.
      • AXIS 2:
              o On 9 December 2010, the Data Safety Monitoring Board (DSMB) held its
                 second interim review  regarding  the  safety  and  tolerability  of
                 AXIS 2. Based on the data of 50% of the  AXIS 2-patients,  the  DSMB
                 recommended the continuation of the study without  any  modification
                 or restriction.
              o Patient recruitment significantly improved during the third quarter.
                 Currently, more than two-thirds of the total AXIS  2  patients  have
                 been enrolled and SYGNIS expects to  report  top-line  data  in  the
                 second half of 2011.
      • Based on the already established in vitro and in vivo proof  of  principle
         for the role of KIBRA in learning and memory, SYGNIS has begun a screening
         program,  applying  its  proprietary  assay,  for  the  identification  of
         suitable compounds, which could have an  effect  on  the  KIBRA  activity.
         SYGNIS expects to have a nominated candidate during the third  quarter  of
         2011.@@end@@

Outlook

Following the strategic restructuring,  SYGNIS  is  focused  on   completing  the ongoing clinical development of AX200, its lead compound for  the  treatment  of acute stroke, currently in a phase II efficacy trial and the  internal  research on KIBRA. SYGNIS aims to expand its research  data  on  KIBRA  and  to  identify strong drug candidates that will attract potential pharma partners.

Operating expenses (without any extraordinary write  downs)  and  the liquidity outflow for the current fiscal year 2010/2011  will  be   lower  than  originally expected.

On 9 February 2011 SYGNIS announced that it has licensed  the   exclusive  rights of a European patent with regard  to  its  lead   candidate  AX200.  The  licence covers an issued patent which provides broad protection with regard to  the  use of G-CSF for the reorganisation of neural tissue affected  by  neurodegenerative diseases, especially stroke or trauma. The patent has a  scheduled   expiry  date of 2022, not including any potential extensions. This   licence  strengthens  the

@@start.t4@@Company´s IP-position around  AX200  and  enables  it  to  maximise  the  market potential of the drug.

|Key financial figures for the third quarter of fiscal year              |
|2010/2011 ended December 31, 2010 and corresponding figures (IFRS) |
|Numbers in million euros                |Q3 2010/2011      |Q3 2009/2010      |
|Revenues                                         |0.0                    |0.0                    |
|Total expenses                                |3.7                    |2.4                    |
|EBIT                                                |-3.7                  |-2.3                  |
|Net results for the period            |-3.7                  |-2.3                  |
|Intangible assets                          |21.7                  |22.0                  |
|Liquidity at end of quarter          |9.0                    |16.4                  |
|Equity                                            |21.2                  |30.8                  |
|(equity ratio in %)                        |(59)                  |(71)                  |
|Long-term financial liabilities    |8.0                    |8.0                    |
|Operating Cash Flow                        |-2.1                  |-1.7                  |


|Key figures for the first nine months of fiscal year 2010/11 ended |
|December 31, 2010 and comparables (IFRS)                                          |
|Numbers in million euros                |9 months 2010/11|9 months 2009/10|
|Revenues                                         |0.2                    |0.2                    |
|Total expenses                                |9.3                    |7.2                    |
|EBIT                                                |-9.1                  |-7.1                  |
|Net results for the period            |-9.0                  |-9.2                  |
|Operating cash flow                        |-6.4                  |-6.6                  |

The report on the third quarter which ended on 31 December 2010 is available  at the SYGNIS webpage at www.sygnis.de.

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 and  development  of  innovative  therapies  for  the treatment of disorders of the Central Nervous System. SYGNIS´ core projects  are currently Acute Stroke for which SYGNIS´ lead clinical  programme  is  AX200  as well as the preclinical KIBRA-project for the treatment of  different  forms  of dementia. 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. SYGNIS´ strategy for growth includes the development of new  products from its own research and through in-licensing and acquisitions.

For further information please contact:

SYGNIS Pharma AG: Dr. Franz-Werner Haas sen. Vice President Operations +49 (0) 6221 454 812 franz-werner.haas@sygnis.de

Media-Contact: Julia Phillips Financial Dynamics Tel.: +44 (0) 20 7269 7187

### Disclaimer Some statements included in this  press  release,  relating  neither  to  proven financial results nor other  historical  data,  should  be  viewed  as  forward- looking, i.e. not definite. Such statements are  mainly  predictions  of  future results, trends, plans or goals. These statements should not  be  considered  to be total guarantees since given their very nature they are subject to known  and unknown risks and imponderability and can be affected  by  other  factors  as  a consequence of which the actual results, plans and goals  of  SYGNIS  Pharma  AG may deviate greatly from the  established  conclusions  or  implied  predictions contained in such statements. SYGNIS does not undertake to  publicly  update  or revise these statements in the light of new information  or  future  results  or for any other reason.  ###@@end@@

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Contact: Dr. Franz-Werner Haas sen. Vice President Operations +49 (0) 6221 454 812 franz-werner.haas@sygnis.de

Branche: Biotechnology
ISIN:      DE000A1E9B74
WKN:        A1E9B7
Index:    CDAX, Prime All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              Hannover / free trade



Weitere Meldungen: SYGNIS AG

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