BERLIN and SEATTLE, Nov. 15, 2005 (PRIMEZONE) -- Epigenomics AG (Frankfurt, Prime Standard:ECX), a molecular diagnostics company developing tests based on DNA methylation, announced today that it has been informed by the majority of its venture capital investors:
-- DVC (DVCG mbH & Co Fonds II KG, Venture Capital mbH & Co Fonds III),
-- MPM (MPM Bioventures GmbH & Co; MPM Bioventures II-QP, LP; MPM
Bioventures II, LP; MPM Asset Management Investors 2000 BLLC),
-- 3i (Technologie Holding Fonds VC GmbH; 3i Group Investments
LPM; Technologieholding Fonds NBL GmbH),
-- Strategic European Technologies NV,
-- Abingworth (Abingworth Bioventures II SICAV; Abingworth Bioventures
IIA LP),
-- tbg Technologie-Beteiligungs-Gesellschaft mbH
that the binding agreement to place shares only in a jointly executed and coordinated procedure together with Morgan Stanley, set up in January 2005, has ended.
"There have been no share sales or block trades under this agreement between the VCs and Morgan Stanley of any shares that came off lock-up in January 2005. Our VC shareholders to date have not exited any of their investment dating from the private series A, B and C financing rounds in Epigenomics and we see no immediate or automatic impact from the ending of this agreement," commented Oliver Schacht, CFO of Epigenomics.
Dr. Jorg Neermann, Managing Partner at DVC added: "As an early investor in Epigenomics, we have seen the company grow and mature through IPO. We believe in management's ability to execute on the company's corporate strategy. The ending of this agreement purely means that we are no longer committed to selling shares through Morgan Stanley, if we were to do so in the future."
About Epigenomics
Epigenomics is a molecular diagnostic company with a focus on the development of novel products for cancer. By detecting and interpreting DNA methylation patterns, Epigenomics' tests can potentially diagnose disease at an early stage and help guide physicians to select an appropriate therapy. Epigenomics collaborates with Roche Diagnostics on the development of several diagnostic products in cancer. The company has its headquarters in Berlin, Germany, and a wholly owned subsidiary in Seattle, USA. For more information, please visit our website at www.epigenomics.com.
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Epigenomics AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Epigenomics AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Epigenomics AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.