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WILEX AG: WILEX announces financial figures for the 2013 financial year and reportson course of business

DGAP-News: WILEX AG / Key word(s): Final Results
WILEX AG: WILEX announces financial figures for the 2013 financial
year and reportson course of business

31.03.2014 / 07:15

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PRESS RELEASE

WILEX announces financial figures for the 2013 financial year and reports
on course of business

Munich, 31 March 2014 - WILEX AG (ISIN DE0006614720 / WL6 / FSE) today
published its financial results and annual report for the 2013 financial
year (1 December 2012 - 30 November 2013). The WILEX Group generated sales
revenue and other income totalling EUR 19.1 million (previous year: EUR
17.8 million). As a result of lower operating expenses totalling
EUR 24.1 million (previous year: EUR 26.8 million) the net loss for the
year was reduced significantly to EUR 5.0 million (previous year: EUR 9.4
million). Earnings per share improved from -EUR 0.36 in the previous year
to -EUR 0.16.

The 2013 financial year nonetheless was not satisfactory for WILEX AG.
Although the company can cite a number of operational areas where progress
was made during the financial year, WILEX was unable to secure long-term
financing or conclude a partnership deal for one of its product candidates.
Accordingly, an extensive restructuring programme had to be introduced in
January 2014, significantly changing the alignment and orientation of WILEX
AG.

This restructuring programme calls for the stepwise discontinuation of
clinical development and an 80% reduction in staff numbers at the company's
Munich premises. From mid-year, the WILEX Group will employ a total
workforce of around 50 at two sites, and will concentrate its activities in
the future on the preclinical service business of its subsidiary Heidelberg
Pharma GmbH in Ladenburg as well as the further development and marketing
of the innovative platform technology for therapeutic antibody drug
conjugates (ADC technology). This strategy aims to significantly reduce
current financing requirements while extending the cash reach for the
remaining activities. WILEX AG will also be pushing ahead with the
commercialisation of its clinical projects.

Dr Jan Schmidt-Brand, Chief Financial Officer of WILEX AG, commented:
"Despite great efforts, we were unable to finance business operations in
their previously existing form. In spite of many talks and negotiations
with potential development and financing partners, we did not achieve our
objective. We have been forced to realign WILEX and had no option but to