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Wilex AG. (7/29/10). "Press Release: Wilex AG Recommends Shareholders Not to Accept the Mandatory Offer of dievini Hopp BioTech holding GmbH % Co. KG". Munich.

Region Region Germany
Organisations Organisation Wilex AG
  Today Heidelberg Pharma AG (FSE: WL6)
  Group Heidelberg Pharma (Group)
  Organisation 2 Dievini Hopp BioTech Holding GmbH & Co. KG
  Group HOPP Group (family of Dietmar Hopp)
Products Product cancer drug
  Product 2 cancer test
     


The Executive Management Board and Supervisory Board of WILEX AG (ISIN DE0006614720 / WL6 / Frankfurt Stock Exchange) today published their joint statement on the mandatory offer received on July 15, 2010 from dievini Hopp BioTech holding GmbH & Co. KG. After reviewing the mandatory offer the Executive Management Board and Supervisory Board recommend WILEX shareholders to decline the offer and not to tender their shares.

The recommendation to the shareholders of WILEX AG is based on the Executive Management Board's and Supervisory Board's opinion that the offer price of 4.10 Euros per WILEX share although slightly higher than the legal minimum price does not reflect the full potential of the Company. The Management Board and Supervisory Board are convinced that despite the risks inherent to the clinical development of drug and diagnostic candidates, the potential and the future prospects of WILEX AG are higher than the offer suggests.

The joint response statement of the Executive Management Board and Supervisory Board includes a detailed evaluation and discussion on the appropriateness of the offer price. This statement is published on the Company's web page http://www.wilex.de/IR/Mandatory_Offer.php and is available at the premises of WILEX AG.

The mandatory offer made by dievini Hopp BioTech resulted from a legal obligation after the control threshold of 30% of the Company's voting rights was exceeded on 2 June 2010. The Executive Management Board and Supervisory Board of WILEX AG greatly appreciate and welcome the commitment of dievini Hopp BioTech to WILEX. dievini Hopp BioTech has advised that they intend to participate in the recently announced capital increase.


About WILEX AG

WILEX AG is a biopharmaceutical company based in Munich and is listed at the Frankfurt Stock Exchange at the Regulated Market / Prime Standard. WILEX's mission is to develop drugs with a low side effect profile and targeted treatment of different types of cancer as well as diagnostic agents for specific detection of tumours. The Company's product candidates are based on antibodies and small molecules. WILEX has an attractive product pipeline which includes both drug and diagnostic candidates: A pivotal Phase III study with REDECTANE® has been completed and positive data published. RENCAREX® is undergoing a Phase III registration trial. Positive MESUPRON® Phase II data in the indication pancreatic cancer have been published and another Phase II trial in breast cancer is ongoing. The MEK inhibitor WX-554 has completed a Phase I trial. A further oncology project (PI3K inhibitor WX-037) is in preclinical development and three antibody programmes are in research. WILEX aims within a few years to be able to finance its research and development programmes from its operating cash flow. Website: http://www.WILEX.com, ISIN DE0006614720 / WKN 661472 / Symbol WL6

Contact
WILEX AG
Corporate Communications
Katja Arnold (CIRO)
Grillparzerstr. 10
81675 Munich
Germany
Tel.: +49 (0)89-41 31 38-126
Fax: +49 (0)89-41 31 38-99
E-Mail: investors@wilex.com

This communication contains certain forward-looking statements relating to the Company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "will" "should" "future", "potential" or similar expressions or by a general discussion of the Company's strategy, plans or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial position, earnings, achievements, or industry results, to be materially different from any future results, earnings or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.

   
Record changed: 2017-04-02

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