EANS-News: Sygnis Pharma AG proposes reduction of share capital to improve flexibility on capital markets

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Annual & Special Corporate Meetings

Heidelberg (euro adhoc) - Press Release

Heidelberg,  October  20,  2010  -  SYGNIS  Pharma  AG  (Frankfurt:   LIO;    ISIN DE0005043509; Prime Standard),  a  clinical  stage   biotech  company  developing innovative CNS treatments, invited shareholders to its  Annual  General  Meeting for financial year 2009 / 2010 on November 30, 2010.  At the meeting  the  Board will propose a reduction of the Company´s share capital according to §§ 222  ff. German Stock Corporation Act (AktG).

This reduction will be combined with a consolidation of  the  shares in  a  3:1 ratio. As a result, the share capital will be reduced from EUR  41,258,643  to EUR 13,752,881, allocated to 13,752,881 shares outstanding.

The purpose of this process is primarily to improve the Company´s   abilities  to interact on the capital markets. The planned measure is based on the  fact  that the Company´s share price has been below the nominal value of EUR 1 for  a longer period. Following the capital reduction and consolidation of shares,  the  share price is expected to increase significantly to a level above the nominal  value.

The SYGNIS share will thus comply with the relevant requirements and will be more attractive for investors. Furthermore, the planned measure will improve the flexibility of the company for future capital measures and the development of financing alternatives. The released capital will be used for the reduction of losses.

As of June 30, 2010 the liquidity of the company was EUR13.1 million.

About SYGNIS Pharma SYGNIS Pharma AG, headquartered in Heidelberg, is a  biopharmaceutical  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 and various forms of dementia. These disorders are characterized by an acute  or gradual loss of nerve cells, which for the patients always means  a  decline  of functional  abilities.  Although  there is  great  medical  demand,  there  are currently no or only inadequate treatment options available.

One of the central  elements  in  the  Company´s  value-creation   chain  is  the continued development of the existing product   pipeline.  This  is  achieved  by

@@start.t2@@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  pre-clinical  drug  candidates  are  identified  and evaluated as well as early-stage projects  are  initiated  for  the  purpose  of partnering.


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. ###

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ots Originaltext: SYGNIS Pharma AG
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Further inquiry note:
For further information please contact:
Dr. Franz-Werner Haas                            
Vice President Operations                      
+49 (0) 6221 454 812                                       

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

Branche: Biotechnology
ISIN:      DE0005043509
WKN:        504350
Index:    CDAX, Prime All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              Hannover / free trade
              München / free trade

Weitere Meldungen: SYGNIS AG

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