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MediGene appoints Arnd Christ as Chief Financial Officeras Successor to Dr. Thomas Klaue

Martinsried/Munich, March 26, 2010. The biotech company MediGene AG (Frankfurt, Prime Standard, TecDAX) today announced that Chief Financial Officer Dr. Thomas Klaue will leave the company for different opinions in strategic directions of the company by mutual consent with the Supervisory Board in May 2010. Dr. Klaue will resign from office after the Annual Shareholders' Meeting on May 11, 2010, and his employment contract will cease in June 2010. Arnd Christ has been chosen to succeed Dr. Klaue as Chief Financial Officer. Mr. Christ has many years' management experience in the biotech and pharmaceuticals industry, and has held his current position as Chief Financial Officer at the Swiss biotechnology company NovImmune since 2007.

Prof. Dr. Ernst-Ludwig Winnacker, Chairman of the Supervisory Board of MediGene AG, commented: "On behalf of the Supervisory and Executive Boards, I would like to express our heartfelt thanks to Dr. Thomas Klaue for his commitment to, and success in building, MediGene over the past three years. He has shaped our business and financial profile by significantly reducing the Cost, improving the EBITDA and stabilized Liquidity, not least due to the SEDA financial instrument which was successfully introduced by Dr. Klaue in Germany for the first time. We are delighted that in his successor Arnd Christ, MediGene has been able to attract such a highly qualified CFO with deep and long-term experience in the biotechnology industry. We are happy to welcome Arnd Christ to MediGene, and look forward to using his expertise and dynamism in taking our business forward."

 

Arnd Christ has 15 years of international experience in business finance and management as well as mergers and acquisitions. In his capacity as Chief Financial Officer at the biotech company NovImmune SA, Geneva, Switzerland, he was responsible for the successful closing of one of the largest private financing rounds (CHF 62.5 million) in the European biotech industry. Prior to joining NovImmune, Mr. Christ held the position as Chief Financial Officer of Probiodrug AG, Halle, for 5 years, where he was responsible for several fund raising rounds as well as for the successful closing of a major asset sale to OSI Pharmaceuticals Inc. Before joining Probiodrug AG, Arnd Christ was finance manager at several subsidiaries of the Hoechst Group in Germany and UK. Arnd Christ studied at the Julius-Maximilians-Universität in Würzburg and holds a degree in business administration.

 

This press release contains forward-looking statements representing the opinion of MediGene as of the date of this release. The actual results achieved by MediGene may differ significantly from the forward-looking statements made herein. MediGene is not bound to update any of these forward-looking statements. MediGene® is a registered trademark of MediGene AG. This trademark may be owned or licensed in select locations only.

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MediGene AG is a publicly listed (Frankfurt, Prime Standard: MDG, TecDax) biotechnology company located in Martinsried/Munich, Germany, with subsidiaries in Oxford, UK and San Diego, USA. MediGene is the first German biotech company to have drugs on the market which are distributed by partner companies. It has several drug candidates in clinical development and possesses innovative platform technologies. MediGene focuses on clinical research and development of novel drugs with focus on oncology.

 

Contact MediGene AG

Email: investor@medigene.com

Fax: ++49 - 89 - 85 65 - 2920

Julia Hofmann / Dr. Nadja Wolf, Public Relations, Tel.: ++49 - 89 - 85 65 - 3324

Dr. Georg Dönges, Investor Relations, Tel.: ++49 - 89 - 85 65 - 2946