SYGNIS announces three months results of fiscal year 2010/2011

Heidelberg, August, 12 2010 – SYGNIS Pharma AG (Frankfurt: LIO; ISIN DE0005043509; Prime Standard) today reports financial results for the first quarter of the fiscal year 2010/2011 ended June 30, 2010.

Financials

• • Cash including marketable securities amounted to €13.1 million as of June 30, 2010 (€19.4 million Q1 2009/2010). Long term financial liabilities amounted to €8.0 million resulting from a loan which is not due for repayment before 2015.
• • Total operating expenses for the quarter was €2.5 million, which was the same as the first three months of 2009/2010.
• • The net loss in the first quarter was €-2.3 million, which was the same as the previous year

Milestones

• • Patient recruitment for the phase II efficacy study of the Company’s lead compound AX200, for the treatment of acute ischemic stroke, has significantly increased following the implementation of the modification of the AXIS 2 study protocol.
• • At its first meeting on 2 August 2010, the Data Safety Monitoring Board (DSMB) reviewed the data on the safety and tolerability of the AXIS 2 study medication and advised on the continuation of the study without changes.

Outlook

SYGNIS confirms its expectations of a net loss of around €15 million for the current 2010/2011 fiscal year and a liquidity outflow of some €14 million.

Due to the modification to the AXIS 2 study protocol and the acceleration of patient recruitment, the Company expects to present its initial findings of the study by mid-2011.

In addition the Company continues to evaluate opportunities to extend its product pipeline and is working towards concluding a research alliance for the KIBRA project.

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