EANS-News: Epigenomics Reports on a Successful Year 2009 at Annual Press Conference and Analyst Meeting

Key financials improved significantly in 2009

Important development and commercialization milestones met in 2009

Expect revenue growth and similar earnings in 2010

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Company Information/Molecular diagnostics

Subtitle: Key financials improved significantly in 2009

Important development and commercialization milestones met in 2009

Expect revenue growth and similar earnings in 2010

Press release, Berlin, Germany, and Seattle, WA, USA, April 19, 2010
(euro adhoc) - Epigenomics AG (Frankfurt Prime Standard: ECX), a
cancer molecular diagnostics company, today hosted its Annual Press
Conference and Analyst Meeting in Frankfurt/ Main. Geert Nygaard,
CEO, and Oliver Schacht, CFO, informed on the results of the fiscal
year 2009, reported on key highlights and provided an outlook on the
company's business activities and expectations for 2010 and beyond.

Geert Nygaard, CEO of Epigenomics commented:"Delivering on our
promises and meeting all our key development and commercialization
milestones in 2009 and early 2010 such as the launches of Epi
proColon, Abbott's Real Time mS9 Colorectal Cancer Assay, Quest's
ColoVantage test service as well as the successful completion of our
PRESEPT study have ideally positioned Epigenomics for the commercial
phase in our corporate development."

Oliver Schacht, CFO of Epigenomics added: "With the successful
closing of our oversubscribed public rights offering in Q1-2010 that
yielded gross proceeds of EUR 33.1 million we are well funded to
execute our product development programs and drive commercialization
of our products."

Key Financials 2009

In 2009, Epigenomics grew its total revenue to EUR 4.3 million; a
significant increase of 65% compared to EUR 2.6 million in 2008.

Cost of sales increased significantly from EUR 1.7 million to EUR 2.8
million as a result of increased collaboration-driven product
development expenses and especially due to the acquisition of
clinical samples under Epigenomics' collaboration with Abbott.

Other income decreased to EUR 0.5 million in 2009 from EUR 1.1
million in 2008, when high income from a one-time reversal of
provisions had affected the total number.

In 2009, R&D costs have decreased significantly by approximately EUR
2.7 million from EUR 10.0 million in 2008 to EUR 7.3 million at the
end of 2009.

Marketing and business development costs significantly increased by
39% from EUR 0.9 million in 2008 to EUR 1.2 million in 2009, as a
result of increased pre-marketing, sales and technical support
activities for the launch of Epigenomics' Epi proColon colorectal
cancer blood test.

In 2009, EBIT amounted to EUR -10.2 million, a significant
improvement of 20% compared to previous year's EUR -12.8 million as a
result of our strict fiscal discipline coupled with solid revenue
growth.

Cash flow from operations was EUR -10.6 million for 2009 versus EUR
-9.8 million for 2008.

As of December 31, 2009, the company's financial position including
marketable securities showed a total liquidity amounting to EUR 6.1
million (31.12.2008: EUR 12.1 Mio.).

On March 30, 2010, Epigenomics successfully completed the placement
of 14,697,361 new ordinary bearer shares within a rights offering
representing the entire authorized capital available. The new shares
were placed at the subscription price of EUR 2.25 per new share
resulting in gross proceeds of about EUR 33.1 million. With the
registration of the capital increase on March 31 2010 the total
issued share capital of Epigenomics has increased from EUR
29,394,724.00 to EUR 44,092,085.00. ICF Kursmakler AG (Frankfurt,
Germany) acted as sole lead manager and sole underwriter and Trout
Capital LLC (New York, NY, U.S.A.) acted as placement agent to
Epigenomics in the U.S.

Key Highlights 2009/2010

Following the launch of Epi proColon as a CE-marked IVD product in
Europe in October 2009 Epigenomics has grown its laboratory customer
base from a handful in Q4-2009 to 18 customer laboratories in Germany
and Switzerland as of today, including synlab with its 55 German
sites, one of Europe's largest laboratory networks.

2009 and early 2010 have been characterized by continued focus on
Epigenomics' commercialization of the lead product Epi proColon.
Enrollment into the PRESEPT Study was completed successfully and
substantial progress has been made in the company's product
development pipeline especially the lung cancer program.

During 2009 and into 2010, Epigenomics' R&D activities have continued
to focus on executing the PRESEPT Study. After the release of
preliminary data in January 2010, Epigenomics reported updated
top-line PRESEPT Study data on March 8, 2010 showing that the Septin9
biomarker in this academic medicine study detected colorectal cancer
cases with a sensitivity of approximately 63% and a specificity of
around 89%.

During 2009 Epigenomics continued executing its non-exclusive
partnering and commercialization strategy by entering into new
collaboration agreements regarding the Septin9 biomarker for
colorectal cancer with the Japanese IVD company Sysmex Corp. and the
U.S. Reference Laboratory ARUP Laboratories in Salt Lake City, UT.
Further deals were signed with Quest Diagnostics and Predictive
Biosciences for a laboratory-developed prostate cancer test.

Moving forward in transforming the company into a fully integrated
molecular diagnostics company Epigenomics has made significant
progress. The company obtained ISO 13485 certification in 2009
enabling it to develop, manufacture and market IVD products.
Throughout 2009 Epigenomics has made substantial progress in its lung
cancer product development program. After the successful clinical
evaluation of the mSHOX2 biomarker in bronchial lavage specimen from
patients with suspected lung cancer in Q1-2009, Epigenomics initiated
the formal product development of an IVD test for lung cancer.

Outlook for 2010 and beyond

Epigenomics intends to build on the successful year 2009 as well as
the very promising start into 2010 with EUR 33.1 million gross
proceeds from the recently completed financing transaction to
complete the transformation into an integrated molecular diagnostics
industry player. Focus will be on the commercial execution together
with partners and licensees as well as driving direct product sales
in the home markets. To that end Epigenomics expects to grow the
marketing and sales team in Europe by a handful of key additions and
new hires.

The company anticipates commercial traction of all Septin9-based
tests that are commercially available to increase gradually during
2010 and to accelerate in 2011 and beyond. The management expects
direct product sales of the Epi proColon test in Germany, Switzerland
and Austria as well as distributor sales in other key European
markets to add to revenue growth. Furthermore Epigenomics expects to
maintain a solid base of R&D collaboration, licensing and partnering
based revenue generation at similar levels to the previous years,
which assumes the closing of one additional IVD partnership in 2010.
Royalty income from sales of Abbott's RealTime mS9 Colorectal Cancer
product and Quest's ColoVantage? testing service should also
gradually start to contribute in 2010 with accelerated growth
expected in 2011 and beyond. The expected launch of ARUP's Septin9
testing service in 2010 should add to the royalty income going
forward.

On the product development and pipeline progress Epigenomics'
management awaits the launch of the CE marked Epi proLung BL Reflex
Assays by midyear 2010. In line with the commercial strategy in
colorectal cancer the company intends to market and sell directly in
home markets and work with distributors in other countries. It also
plans to initiate a clinical trial for regulatory approval of the
Epi proColon test using the PRESEPT cohort in 2010 with a view to
obtaining such regulatory approval in the USA ideally still in 2011.
Epigenomics also expect its partner Abbott to complete its clinical
trial for regulatory approval of the Abbott RealTime mS9 Colorectal
Cancer test and to seek such regulatory approval for the U.S. by
2011.

R&D going forward will focus on enhancement and expansion of Epi
proColon product. As an example, the company has recently launched an
updated version of the product which can now be used on two real-time
PCR devices, the Roche LightCycler? 480 and AB7500 Fast Real Time PCR
System. Further R&D in the colorectal cancer program focuses on
enhanced clinical characteristics for colorectal cancer early
detection as well as expansion of the clinical utility into disease
monitoring and adenoma detection. Lung cancer test development will
take second priority with prostate cancer taking third priority and
requiring current and future partners to commercialization.

Financials for the fiscal year 2010 are expected to be characterized
by continued fiscal discipline and focus on commercialization.
Epigenomics anticipates 2010 revenue of at least EUR 5 million, with
the potential to double in each of the following two years towards
achieving profitability by the end of 2012 at the earliest. This will
depend on successful commercialization of own products as well as
current and new partners being successful in their test
commercialization. 2010 EBIT is expected to be similar to 2009 with a
target of around EUR -10 million for the fiscal year 2010. Cash burn
will be closely monitored and is expected remain around EUR 10
million for 2010 despite the completion of PRESEPT and the lung
cancer IVD development, as marketing and sales spending will
increase. Further, the Company expects to fund a clinical trial and a
filing for regulatory approval in the U.S. in 2010 and 2011 before
eventually commercializing a regulatory approved Epi proColon product
in the U.S.

Further Information

The annual report 2009 is available at Epigenomics' website at: http:
//www.epigenomics.com/en/investor_relations/Financial_Information/

An Analyst Conference Call will be hosted by Epigenomics' management
today at 3 pm (CET)/ 9 am (EST). The conference call will be
conducted in English.

Dial-in number (within Germany.): +49 (0) 69 247 501 899
Dial-in number (outside Germany): +1 212 444 0297

Please dial-in at least 10 minutes prior to the start of the call.

To follow the presentation, we kindly ask all participants of the
call to download the slide set from the company website prior to the
call where it will be made available as a PDF file today at 12 pm CET
(5 am EST) on the same day via:
www.epigenomics.com/en/down_loads/corporate_material/

The conference call will be recorded and also made available on the
company website web as a audio file after the call. Please go to:
www.epigenomics.com/en/down_loads/corporate_material/

About Epigenomics

Epigenomics is a molecular diagnostics company with a focus on the
development of novel products for cancer. Using DNA methylation
biomarkers, Epigenomics' tests on the market and in development aim
at diagnosing cancer at an early stage before symptoms occur and
thereby may reduce mortality from this dreaded disease.

Epigenomics' product portfolio contains the CE-marked IVD test Epi
proColon, the world's first regulatory cleared molecular diagnostic
test for the detection of colorectal cancer in blood that is based on
the biomarker Septin9, and further proprietary DNA methylation
biomarkers and IVD products at various stages of development for
colorectal, lung and prostate cancer. For development and global
commercialization of IVD test products, Epigenomics pursues a dual
business strategy in which direct commercialization of proprietary
diagnostic test products is combined with non-exclusive licensing to
diagnostic industry players with broad customer access. Strategic
diagnostics industry partners include Abbott Molecular, Sysmex
Corporation, Quest Diagnostics Incorporated, and ARUP Laboratories,
Inc. for diagnostics test products and services, and QIAGEN N.V. for
sample preparation solutions and research products. The company is
headquartered in Berlin, Germany, and has a wholly owned subsidiary,
Epigenomics Inc., in Seattle, WA, U.S.A. For more information, please
visit Epigenomics' website at www.epigenomics.com.

Epigenomics legal disclaimers. 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.

The information contained in this communication does not constitute
nor imply an offer to sell or transfer any product, and no product
based on this technology is currently available for sale in the
United States. The analytical and clinical performance
characteristics of any product based on this technology which may be
sold at some future time in the U.S. have not been established.

end of announcement euro adhoc
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ots Originaltext: Epigenomics AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Epigenomics AG

Dr. Achim Plum

Sen. VP Corporate Development

Tel: +49 30 24345 368

achim.plum@epigenomics.com

Branche: Biotechnology
ISIN: DE000A0BVT96
WKN: A0BVT9
Index: Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
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