Biotest AG — Share Issue/Capital Change 2005

Jul 1, 2005

News Details

Corporate | 1 July 2005 15:32

Biotest: Capital increase:10 million euro in new funds for antibody research

Corporate-news transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Biotest AG: Capital increase: 10 million euro in new funds for antibody research Accelerated development of three monoclonal antibodies with huge potential/significant improvement in financial base through loan conversion/comfortable equity ratio Dreieich, 1 July 2005. Biotest AG announced in an ad hoc notification that it is increasing its capital stock by 2.92 million euro to 23.40 million euro by issuing 1.14 million new ordinary shares. As the first step, Biotest utilised 28.5% of the authorised capital of 10.24 million excluding shareholders’ subscription rights. The Executive Board submitted the corresponding application to the Supervisory Board which gave its approval yesterday evening using the written procedure. The company has therefore secured stable funding for its strategy for growth and innovation whilst simultaneously reducing its interest expenses. 570,000 new ordinary shares with an imputed interest of 1.46 million euro (6.24%) in the share capital were subscribed by a German financial investor against a cash contribution of 10.01 million euro. Biotest will use the funds received for the accelerated clinical development of three monoclonal antibodies with huge potential as well as the further internationalisation of its plasma protein business. The most advanced project relates to antibody BT-061, which features a unique immunological mechanism. Initial clinical trials have already demonstrated that it is effective in the treatment of rheumatoid arthritis and psoriasis. Biotest is also working together with Boehringer Ingelheim to research the suitability of BT-061 to treat asthma. The other two antibodies, BT-062 and BT-063, are in the pre-clinical stage and are being further developed to treat multiple myeloma (a cancer of the bone marrow) and various auto-immune diseases. “The new funds have given our biotechnological research projects a major boost,” emphasised Prof. Dr. Gregor Schulz, Chairman of the Executive Board of Biotest AG. “This has improved our chances of achieving considerable new earnings potential from biotechnological products much faster than planned in addition to our successful plasma derivatives business.” A further 569,150 new ordinary shares were subscribed by the Dr. Schleussner family through the conversion of a shareholder loan totalling 10 million euro. With a share of 57.8%, the family continues to hold the majority of the voting shares. The conversion has significantly improved Biotest’s financial structure and the equity ratio has risen from 30.8% (31 March 2005) to over 36%. The issuing price for the new shares was fixed, in line with statutory provisions, with a discount of 5% compared to the average stock market price for the previous five trading days. The dilutive effect for the shareholders excluded from the subscription is therefore negligible. The company’s new capital stock totalling 23.40 million euro comprises 5.14 million ordinary shares and 4.0 million preferred shares, each with a proportionate interest of 2.56 euro. Investor Relations: Hubert Bötsch, Tel. +49 6103 801-444, Fax: +49 6103 801-880, e-mail: hubert_boetsch@biotest.de Biotest AG, Landsteinerstr. 5, D-63303 Dreieich, www.biotest.de German Securities Code Number, ISIN ordinary shares: 522720, DE0005227201 German Securities Code Number, ISIN preferred shares: 522723, DE0005227235 Listed: Prime Standard/Official market Frankfurt, Berlin, Düsseldorf, Hamburg, Stuttgart End of announcement (c)DGAP 01.07.2005 —————————————————————————— WKN: 522720; ISIN: DE0005227201; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg und Stuttgart 011532 Jul 05