EANS-News: AGENNIX AG /

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Financial Figures/Balance Sheet/6-month report

Heidelberg (euro adhoc) - Agennix AG Reports Financial Results for
Second Quarter and First Six Months of 2010

Planegg/Munich (Germany), Princeton, NJ and Houston, TX, August
5, 2010 - Agennix AG (Frankfurt Stock Exchange: AGX) today
announced financial results for the second quarter and first six
months ended June 30, 2010.

Agennix AG was formed by the business combination of Agennix
Incorporated and GPC Biotech AG, which became effective on November
5, 2009, and in which GPC Biotech AG was identified as the
acquirer for accounting purposes. Accordingly, the comparative
historical financial information of Agennix AG is that of GPC
Biotech AG for the respective comparative periods.

First six months of 2010 compared to first six months of 2009 The
Company recognized revenue of EUR 0 and EUR 0.1 million for the
six months ended June 30, 2010 and 2009, respectively. Revenue for
the six months ended June 30, 2009, was attributable to the
services agreement with Agennix Incorporated prior to the
effectiveness of the business combination.

Research and development (R&D) expenses for the six months ended June
30, 2010, increased 364% to EUR 11.6 million compared to EUR 2.5
million for the same period in 2009. The increase in R&D expenses
was primarily due to increased clinical trial costs related to both
of the Company´s Phase 3 trials with talactoferrin (FORTIS-M and
FORTIS-C) as a result of the inclusion of Agennix Incorporated´s
operations for the first six months of 2010 and a credit to
compensation cost of EUR (1.5) million that was recognized for the
first six months of 2009 as a result of the forfeiture of
convertible bonds and stock options, which did not occur in 2010.

Despite the inclusion of Agennix Incorporated´s operations for the
six months ended June 30, 2010, administrative expenses decreased
31% to EUR 4.4 million compared to EUR 6.4 million for the
same period in 2009. Included in administrative expenses as of
June 30, 2009, were approximately EUR 3.0 million in one-time
merger related costs (banking fees, legal services, audit and other
related services) and a credit to compensation cost of EUR (1.8)
million as a result of the forfeiture of convertible bonds and
stock options. There were no such charges or credits in the six
months ended June 30, 2010.

Net loss for the six months ended June 30, 2010, decreased 4%
to EUR (8.2) million compared to EUR (8.5) million for the same
period in 2009.

Basic and diluted loss per share was EUR (0.42) for the six months
ended June 30, 2010, compared to EUR (1.15) for the same period in
2009. The per share amounts for 2009 have been retrospectively
adjusted to reflect the effect of the 5 to 1 merger exchange
ratio related to the merger of GPC Biotech AG into Agennix AG.

Second quarter of 2010 compared to second quarter of 2009 Revenues
for the three months ended June 30, 2010 were EUR 0 compared to
EUR 0.1 million for the same period in 2009. R&D expenses increased
371% for the second quarter of 2010 to EUR 6.6 million compared to
EUR 1.4 million for the same period in 2009. Administrative expenses
for the second quarter of 2010 decreased 4% to EUR 2.3 million
compared to EUR 2.4 million for the same quarter in 2009. Net loss
for the second quarter of 2010 was EUR (3.9) million compared to EUR
(4.2) million for the second quarter of 2009. Basic and diluted loss
per share was EUR (0.19) and EUR (0.57) for the second quarter of
2010 and 2009, respectively.

Quarter over quarter results: second quarter 2010 compared to
first quarter 2010 The Company did not recognize any revenue in the
first or second quarter of 2010. R&D expenses increased 32% to
EUR 6.6 million for the second quarter of 2010, compared to EUR
5.0 million in the first quarter of 2010. Administrative expenses
for the second quarter of 2010 increased 10% to EUR 2.3 million
compared to EUR 2.1 million for the previous quarter. The Company´s
net loss was EUR (3.9) million for the second quarter of 2010,
compared to EUR (4.3) million for the previous quarter. Basic
and diluted loss per share was EUR (0.19) for the second quarter of
2010 compared to EUR (0.23) for the previous quarter.

Cash position As of June 30, 2010, cash, cash equivalents and
restricted cash totaled EUR 4.0 million (December 31, 2009: EUR
11.5 million). Net cash burn for the six months ended June 30,
2010, was EUR 17.5 million (June 30, 2009: EUR 11.4 million). The
increase in net cash burn is primarily due to the inclusion
of Agennix Incorporated´s operations for the first six months of
2010 and increased clinical trials costs due to the progression of
both of the Company´s Phase 3 trials with talactoferrin. Net cash
burn is derived by adding net cash used in operating activities
and purchases of property, equipment and intangible assets. The
figures used to calculate net cash burn are contained in the
Company´s interim consolidated cash flow statement for the respective
periods.

Following the end of the second quarter, in July 2010, the Company
announced that it had entered into an agreement with one of its
major shareholders, dievini Hopp BioTech holding GmbH & Co. KG,
pursuant to which dievini Hopp BioTech provided a EUR 15.0
million loan to Agennix. The loan bears an interest rate of 6% per
annum, is unsecured and is repayable on thirty days advance
notice, but not before October 15, 2010.

"We continue to make good progress in advancing our business," said
Torsten Hombeck, Ph.D., Chief Financial Officer. "We have decided on
a development path for talactoferrin in severe sepsis that should
enable us to initiate a Phase 3 trial in early 2011. We also are
pleased with the solid enrollment of patients in our Phase 3 FORTIS-M
trial with talactoferrin in non-small cell lung cancer, keeping us on
track with our anticipated timeline to see topline data from the
trial in late 2011."

Financial guidance
The Company updated its financial guidance as follows:

Management expects no substantial cash generating revenues for the
remainder of 2010 or for 2011. This guidance does not consider cash
revenue from potential partnering of the Company´s product
candidates due to the uncertainty of the timing of such events.

For the remainder of 2010 and 2011, the Company expects R&D
expenses to significantly increase compared to 2009 due to an
expected steady increase in clinical trial-related costs as the
Company´s Phase 3 trials in non-small cell lung cancer with
talactoferrin progress. In addition, the Company plans to
initiate a Phase 3 program with talactoferrin in severe sepsis in
early 2011.

Administrative expenses are expected to decrease in 2010 compared
to 2009 as the one-time costs associated with the merger that were
incurred in 2009 will not occur in the following years.

Management believes that, including the EUR 15 million loan from
dievini Hopp BioTech, the Company currently has sufficient cash to
fund its operations into the fourth quarter of 2010. The Company is
pursuing both dilutive and non- dilutive sources of additional
funding.

Appointment of interim CEO extended to end of 2010 The Company also
today reported that the appointment of Friedrich von Bohlen, Ph.D.
as interim Chief Executive Officer has been extended to December 31,
2010 to provide additional time for a permanent CEO to be put in
place. Dr. von Bohlen´s appointment was previously scheduled to
expire on August 5, 2010.

Conference call scheduled As previously announced, the Company has
scheduled a conference call to which participants may listen via
live webcast, accessible through the Agennix Web site at
www.agennix.com or via telephone. A replay will be available via
the Web site following the live event. The call, which will be
conducted in English, will be held on August 5 at 15:00 CET/9:00 AM
EST. The dial-in numbers for the call are as follows:

Participants from Europe: 0049 (0)69 71044 5598
0044 (0)20 3003 2666
Participants from the U.S.: 1-646-843-4608

Please dial in 10 minutes before the beginning of the meeting.

About Agennix Agennix AG is a publicly listed biopharmaceutical
company that is focused on the development of novel therapies
that have the potential to substantially improve the length and
quality of life of critically ill patients in areas of major unmet
medical need. The Company´s most advanced program is talactoferrin,
an oral therapy that has demonstrated activity in randomized,
double-blind, placebo-controlled Phase 2 studies in non-small cell
lung cancer, as well as in severe sepsis. Talactoferrin is currently
in Phase 3 clinical trials in non- small cell lung cancer, and
Agennix plans to develop this program further for the treatment of
severe sepsis. Other clinical development programs include RGB-
286638, a multi-targeted kinase inhibitor in Phase 1 testing; the
oral platinum- based compound satraplatin; and a topical gel
form of talactoferrin for diabetic foot ulcers. Agennix´s
registered seat is in Heidelberg, Germany. The Company has three
sites of operation: Planegg/Munich, Germany; Princeton, New Jersey
and Houston, Texas. For additional information, please visit the
Agennix Web site at www.agennix.com.

This press release contains forward-looking statements, which
express the current beliefs and expectations of the management of
Agennix AG, including statements about the Company´s future cash
position and the status of its clinical development programs for
talactoferrin. Such statements are based on current expectations
and are subject to risks and uncertainties, many of which are
beyond the control of the Company, that could cause future
results, performance or achievements to differ significantly
from the results, performance or achievements expressed or
implied by such forward-looking statements. There can be no
guarantee that the Company will move talactoferrin forward in
development for severe sepsis in a timely manner, if at all, or that
talactoferrin will ultimately be approved for sale in any
country. Actual results could differ materially depending on a
number of factors, and management cautions investors not to
place undue reliance on the forward- looking statements
contained in this press release. 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.

For the full management report and condensed consolidated financial
statements and accompanying notes for the second quarter and first
six months ended June 30, 2010, please see the Investor Relations
section of the Agennix website at http://www.agennix.com/index.php?op
tion=com_content&view=article&id=122&Itemid=7 7&lang=en.

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

Further inquiry note:

Agennix AG

Investor Relations & Corporate Communications

Phone: +49 (0)89 8565 2693

ir@agennix.com

In the U.S.: Laurie Doyle

Director, Investor Relations & Corporate Communications

Phone: +1 609 524 5884

laurie.doyle@agennix.com

Additional media contact for Europe:

MC Services AG

Raimund Gabriel

Phone: +49 (0)89 210 228 0

raimund.gabriel@mc-services.eu

Additional investor contact for Europe:

Trout International LLC

Lauren Williams, Vice President

Phone: +44 207 936 9325

lwilliams@troutgroup.com

Branche: Pharmaceuticals
ISIN: DE000A1A6XX4
WKN: A1A6XX
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade