EANS-Adhoc: AGENNIX AG Reports Notice of Loss Pursuant to § 92 par. 1 AktG

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other 26.03.2013

Company also Postpones Reporting of Fiscal Year 2012 Financial Results and Provides Updated Cash Reach Guidance

Planegg/Munich (Germany) and Princeton, NJ, March 26, 2013 - The Management Board of Agennix AG (Frankfurt Stock Exchange: AGX) with the concurrence of the Supervisory Board, today provides notification of a cumulative loss of more than half of the nominal share capital of the Company. This loss is mainly attributable to the full impairment of the intellectual property related to talactoferrin. The Management Board is actively discussing with the Supervisory Board different options for the Company.

Pursuant to Sec. 92 par. 1 German Stock Corporation Act ("Aktiengesetz"), a loss amounting to half of the nominal share capital triggers the statutory obligation to summon a shareholders' meeting. Agennix will announce the date of such meeting and provide an invitation to the meeting in the near future. In this meeting, the Management Board will report on the loss of more than half of the nominal share capital and discuss the situation of the Company.

Agennix also announces that it will postpone the filing of its fiscal year 2012 financial results, previously scheduled to be published on March 28, 2013. The Company will provide an updated reporting date as soon as possible.

Furthermore, Agennix today provided an update on projected cash reach, indicating that the Company currently expects to have sufficient cash to fund ongoing operations into June 2013. This is an update from earlier guidance indicating that the Company expected to be able to fund operations only into the first quarter of this year.

END OF AD HOC ANNOUNCEMENT

Agennix AG is a publicly listed biopharmaceutical company that seeks to develop novel therapies that have the potential to substantially lengthen and improve the lives of critically ill patients in areas of major unmet medical need. The Company's clinical development programs include oral talactoferrin alfa; a topical gel form of talactoferrin and RGB-286638, a multi-targeted kinase inhibitor. Agennix's registered seat is in Heidelberg, Germany. The Company's site of operation is in Princeton, New Jersey. For additional information, please visit the Agennix website at www.agennix.com.

This ad hoc announcement contains forward-looking statements, which express the current beliefs and expectations of the management of Agennix AG. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from those expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this ad hoc announcement. There can be no guarantee that the Company will have or be able to obtain additional financial resources or that it will be successful in pursuing a strategic transaction. Forward-looking statements speak only as of the date on which they are made and Agennix undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future.

Agennix® is a trademark of Agennix AG.

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   March 26, 2013 17:29 ET (21:29 GMT)- - 05 29 PM EDT 03-26-13