Deutsche Effecten- und Wechsel-Beteiligungsges. AG

EANS-Adhoc: Deutsche Effecten- und Wechsel-Beteiligungsges. AG
Valuation Impairment of Investment Portfolio after First-Instance Judgement for Integrated Genomics, Inc.

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date of causation: 08.10.2009

At the Northern District Court of Illinois, Chicago, the portfolio company Integrated Genomics, Inc., Chicago/USA yesterday lost its action against Tillman Gerngross, founder of GlycoFi, Inc., at first instance. With its suit, Integrated Genomics is trying to assert claims for damages which, in the view of the company, arise from the unlawful commercialisation of a research licence by Gerngross at GlycoFi.

Expectations regarding the outcome of this action formed an essential component of the investment valuation of Integrated Genomics in DEWB´s portfolio. As Integrated Genomics is clearly falling short of its 2009 projections, even in the operating business, the financing for the new industrial biotechnology business segment, planned to become an important pillar of the company in the medium-term, cannot currently be secured.

Together with a valuation adjustment of OLPE Jena GmbH, which as a contract manufacturer for the industry has been particularly affected by the poor development of the economy, the valuation of DEWB´s investment portfolio is anticipated to fall by 7.5 million Euros.

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ots Originaltext: Deutsche Effecten- und Wechsel-Beteiligungsges. AG
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Further inquiry note:
Marco Scheidler
Tel.: +49 (0) 3641 573-3600

Branche: Financial & Business Services
ISIN:      DE0008041005
WKN:        804100
Index:    CDAX, Classic All Share, Prime All Share
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