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SYGNIS AG

SYGNIS announces nine months results of fiscal year 2009/2010

Heidelberg (ots)

SYGNIS Pharma AG (Frankfurt: LIO; ISIN
DE0005043509; Prime Standard) today reports financial results for the
third quarter and the first nine months of the fiscal year 2009/2010 
ended December 31, 2009.
Financials
-    Cash including marketable securities amounted to EUR16.4 
        million as of December 31, 2009 (EUR26.0 million Q3 
        2008/2009). Long term financial liabilities amounted to 
        EUR8.0 million resulting from a loan which is not due for 
        repayment before 2015
   -    Total operating expenses decreased to EUR2.4 million in 
        the third quarter 2009/2010 (EUR3.2 million Q3 08/09); in 
        the first nine months they amounted to EUR7.2 million (9 
        months 2008/2009: EUR7.3 million)
   -    Revenues in the first nine months of fiscal year 2009/2010
        amounted to EUR0.2 million (9 months 2008/2009: EUR0.4 
        million)
   -    The net result for the first nine months of 2009/2010 
        amounted to EUR-9.2 million (9 months 2008/2009: EUR-6.7 
        million)
   -    Due to the fall in the market value of the debt securities
        unrealized exchange rate losses of EUR 2,6 million had 
        already been posted through profit or loss as of September
        30, 2009; these unrealized exchange rate losses were 
        recorded under equity in the past without effecting income
        and do not result in any additional outflow of liquidity.
Operational Projects
-    Since all regulatory and ethical committee approvals have
        been obtained to execute the AX200 phase II efficacy trial,
        patients can be enrolled in all 7 countries. The initiation
        of centres proceeded as planed; however until December 31,
        2009 enrolment of patients was slower than expected.
   -    In October SYGNIS entered into a three year Standby Equity
        Distribution Agreement (SEDA) of up to EUR 10 million with
        the US investor Yorkville Advisors. The agreement commits 
        Yorkville to subscribe to tranches of up to EUR500,000 of
        newly issued SYGNIS' shares at the sole and exclusive
        discretion of SYGNIS.
   -    SYGNIS has made significant progress in strengthening its 
        IP-position on the KIBRA pathway for drug development. In
        preclinical in vivo studies the company has achieved proof of
        concept that the modulation of the KIBRA pathway affects
        cognitive functions and improves working memory.
Outlook
Based on its financial position, especially taking the additional 
flexibility of the SEDA into account, SYGNIS' management believes the
company is well-placed to achieve all anticipated milestones in 2010.
The company expects the net loss and liquidity outflow for fiscal 
year 2009/2010 to be lower than originally expected. On the 
operational front, in the upcoming months SYGNIS will be focusing on 
the acceleration of patient recruitment in order to execute the AX200
phase II efficacy trial within the planned time frame. The additional
focus of the company's operational activities will be on increasing 
its business development activities.
The report on the third quarter which ended on December 31, 2009 
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, development 
and marketing of innovative therapies for the treatment of disorders 
of the Central Nervous System. These include Stroke, Amyotrophic 
Lateral Sclerosis (ALS) and neurological disorders resulting from 
injuries of 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. 
Within specific R&D programs at SYGNIS, new preclinical drug 
candidates are identified and evaluated as well as early-stage 
projects for the purpose of partnering.
MediaContact
Dr. Franz-Werner Haas
Vice President Operations
+49 (0) 6221 454 812 
franz-werner.haas@sygnis.de
MediaContact:
Julia Phillips Financial Dynamics
Tel.: +44 (0) 20 7269 7187

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