SnowWorld N.V. — M&A Activity 2007

Jun 4, 2007

P R E S S R E L E A S E

Lelystad, 4 June 2007

Fornix starts independent allergy activities in Germany

Lelystad-based biopharmaceutical company Fornix BioSciences (Euronext: AFORBI) began the marketing, sale and distribution of its principal immunotherapy allergy products in Germany through its own subsidiary of Artu Biologicals Deutschland GmbH & Co KG. This wholly-owned Fornix BioSciences company took over the brand name Igevac, the existing database of prescribing practitioners and all other allergy-related activities from the German company Rölke Pharma. For 10 years Rölke Pharma has been the distributor for Igevac, the brand name under which Oralgen, Fornix's premier anti-allergy product, is marketed in Germany. The takeover will serve as the platform for the expansion of Fornix's allergy activities in the fast-growing German market.

Rölke Pharma, which was established by Thomas Rölke in 1997, currently generates annual sales of around €1.25 million with Igevac. The company has been the distributor for Igevac, which is supplied exclusively on a prescription basis in Germany and, like Oralgen, is produced by Artu Biologicals in Lelystad. Artu Biologicals Deutschland is taking over both the brand name Igevac and the customer base from Rölke Pharma. Thomas Rölke is to continue at the head of Artu Biologicals Deutschland for at least the next three-and-a-half years.

Promising market

Fornix sees in its independent entry to the German market an excellent opportunity for further growth of its allergy activities. In the Netherlands, the company is already the unchallenged market leader in the field of immunotherapy allergy products, particularly with regard to the application of user-friendly sublingual immunotherapy (in which the product is taken in the form of drops applied under the tongue). The German allergy market is currently still dominated by the application of these products through injection. There are, however, initial signs of a shift in favour of sublingual immunotherapy, which is expected to become increasingly established over time.

If the current pan-European clinical trials into the effectiveness and safety of Oralgen are successfully concluded at the beginning of next year and the registration process in the Netherlands is finalised, Fornix will qualify for the fast-track mutual recognition procedure in Germany, holding out the early prospect of registration in Germany as well.

The present takeover is therefore an important first step in the acquisition of an attractive market position in Germany. Fornix will be supporting its activities in Germany with investments in marketing and sales in particular. On the basis of existing information, we expect to see revenue for Artu Biologicals Deutschland grow to around €10 million per annum over the next few years.

With respect to 2007, start-up costs and investments in the new marketing and sales organisation are expected to mean that the new Fornix activity will post a loss of €0.3 million.

Quote

Fornix BioSciences CEO Cees Bergman says of the new start-up in Germany: 'I am particularly pleased that we have been able to develop and expand the existing partnership with Rölke in this constructive and promising fashion. Establishing independent activities in the strong growth market of Germany, which can now be developed using our own capital, is an important initial step in building a sound reputation and achieving healthy growth in other markets besides our home market of the Netherlands. It is a step which is in line with our strategy of establishing dominant market positions with respect to sublingual immunotherapy in other European countries in the fullness of time.'

E N D O F P R E S S R E L E A S E

For further information:	Fornix BioSciences N.V.
	C.L. Bergman, CEO of Fornix Biosciences N.V.
	Tel. +31 320 267 799
	Website: www.fornix.nl

Profile of Fornix BioSciences N.V.

Fornix BioSciences N.V., which has its headquarters in Lelystad (Netherlands) and a total workforce of around 180, engages in the production, marketing, distribution and sale of therapeutic allergen products and the purchasing, marketing and distribution of patented pharmaceuticals and patented medical aids.

The activities are carried on by three divisions, which in turn are made up of operating companies. The Allergy Division, consisting of Artu Biologicals, specialises in the production and sale of anti-allergy products. The Trading Division, consisting of Fisher Farma, trades in patented pharmaceuticals. The newly formed Medical Aids Division, which consists of Laprolan/ComforMed (acquired in 2005) and Artu Biologicals Medical (transferred from the Allergy Division), specialises in the marketing, sale and distribution of medical and nursing consumables.

Fornix posted revenue of €96 million in 2006, with a net profit of €12.4 million. The entire amount of the net profit was paid out as dividend for 2006.

Fornix BioSciences N.V. shares are listed on the Official Market of the Euronext Amsterdam stock exchange (code AFORBI).