SYGNIS reports financial results for fiscal year 2012

Heidelberg (ots) - SYGNIS reports financial results for fiscal
year 2012

- Strategic realignment completed - discontinuation of drug
development
- New business model shows first commercial success
- Progress in restructuring and cost saving

SYGNIS Pharma AG (Frankfurt: LIO1; ISIN: DE000A1RFM03; Prime
Standard) today reported results for the fiscal year 2012 ending on
December 31, 2012. The reverse acquisition of X-Pol Biotech led to a
change in the fiscal year. Due to the business combination the new
SYGNIS includes the total income and expenses of X-Pol for 2012 and
those of old SYGNIS only for December 2012, which affects equity in
the fully consolidated balance sheet accordingly. In addition, the
prior year figures published relate to X-Pol Biotech fiscal year
2011, due to accounting requirements based on the reverse
acquisition. Thus, the changes in financial statements primarily
result from the purchase price allocation and the recognition of fair
values of the old SYGNIS, while values of X-Pol products are
reflected in the balance sheet only with their carrying amounts and
not with their fair values. The comparability of the financial
results reported with the corresponding prior-year data is therefore
very limited.

In 2012, SYGNIS was focussed on the strategic realignment. In this
context, activities in the area of drug development for diseases of
the central nervous system have been stopped and extensive
restructuring measures were initiated to significantly reduce the
Company's cost basis. As a result of the business combination with
the Spanish company X-Pol Biotech, which was successfully completed
in December 2012, SYGNIS now owns an entirely new business model
focussed on the development and marketing of novel technologies in
the area of molecular diagnostics, e.g. in DNA amplification and
sequencing. In July 2012, SYGNIS granted an exclusive global license
to QIAGEN N.V. for the key product QualiPhi®, an improved polymerase
for amplifying DNA. On this basis the Company received a one-time
payment and will receive sales-dependent royalties. First revenues
are expected in 2013.

Pilar de la Huerta, CEO / CFO, commented: "The fiscal year 2012 of
SYGNIS was marked by the successful business combination of SYGNIS
and X-Pol Biotech. As a consequence, important steps for the future
and restructuring measures were taken that have already been
implemented. We were able also, to show first commercial success. We
are delighted to have signed an exclusive worldwide license agreement
with the market leader QIAGEN for our flagship product QualiPhi®. We
will generate first revenues in the current year and plan break-even
in fiscal year 2014."

In financial year 2012, the reported loss for the period was
-EUR2.4 million (previous year: -EUR0.9 million). The decrease
primarily resulted from impairments of intangible assets of EUR1.0
million (previous year: EUR0.0 million) which were necessary due to a
lack of probability of the future commercialisation of assets for
various projects of X-Pol Biotech. Furthermore, operating expenses of
old SYGNIS are included for December. R&D expenses increased to
EUR1.0 million (previous year: EUR0.5 million). Revenue was EUR0.2
million (previous year: EUR0.0 million), mainly resulting from the
marketing of QualiPhi®.

Total assets rose from EUR2.2 million to EUR9.6 million, primarily
due to the goodwill resulting from the business combination of EUR5.9
million, as the market value of the old SYGNIS was higher than the
fair values of its assets at the acquisition date. In addition, other
intangible assets increased from EUR1.1 million to EUR2.3 million.
Here the major effects were the development program DoubleSwitch and
the Caco2 licence business, both capitalized on the old SYGNIS
business. Equity was strengthened accordingly by EUR5.8 million to
EUR6.3 million.

Cash outflow from operating activities was up from EUR0.6 million
in the previous year to EUR1.3 million. This was especially due to
the higher net loss for the period which was partly offset by
increased amortization and imparments of intangible assets. Cash
inflow from investing activities rose to EUR0.5 million (previous
year: cash outflow of EUR0.7 million), primarily according to the
cash inflow based on the reverse acquisition of EUR0.5 million. Based
on a lower raising of non-current loans, cash flow from financing
activities was reduced to EUR0.5 million (previous year: EUR1.9
million).

At the end of the period, cash and cash equivalents were EUR0.5
million (previous year: EUR0.9 million).

Outlook

Apart from the already mentioned licensing deal, SYGNIS expects
further commercial agreements with partners. At the same time the
Company expects first revenues from product sales in the current
fiscal year. In the mid-term, at least two new products shall be
licensed annually in regional or global partnerships. The Company
plans to reach break-even in fiscal year 2014. Based on extraordinary
burdens from restructuring measures, the fiscal year 2013 will still
show a loss. However, the Company assumes that current cost saving
measures will lead to significant effects in the course of the year.

Available liquidity as of December 31, 2012 amounted to EUR0.5
million. Up to date, financing of current activities is secured by a
shareholder loan until mid 2013. For further financing and thus the
continuation, the Company is dependent on new funding from mid 2013
on. These shall be granted by new investors, further loans or by
using the existing SEDA agreement.

Key financial figures for the fiscal 2012 ended December 31, 2012
and corresponding figures (IFRS)

Numbers in EURmillion 2012 2011
Revenues 0.2 -
Total expenses 2.6 0.9
EBIT -2.4 -0.9
Net results for the period -2.4 -0.9
Goodwill 5.9 -
Other intangible assets 2.3 1.1
Liquidity at year-end 0.5 0.9
Equity 6.3 0.5
(equity ratio in %) (65.6) (24.4)
Long-term financial liabilities 1.1 0.7
Operating Cash Flow -1.3 -0.6

SYGNIS will hold a conference call today to present the financial
results for fiscal year 2012.

Details of the telephone conference:
Date: April 30, 2013
Time: 03.00 pm CET (02:00 pm GMT; 09:00 am EST)
Participant Dial In Number(s) Germany: +49-69-7104 45598
Spain: +34-91-788 9854
UK: +44-20-3003 2666
US: +1-866-966 5335 (Toll Free)

Please dial in 10 minutes before the beginning of the conference.

For further information please contact:
SYGNIS Pharma AG
Pilar de la Huerta CEO/CFO
Tel: +34-918063089
Email: pdelahuerta@sygnis.es

About SYGNIS Pharma AG: www.sygnis.de

After the merger in 2012 between X-Pol Biotech, specialising in
DNA amplification and sequencing, and SYGNIS Pharma AG, listed in the
German Stock Exchange (Prime Standard segment, Tick: LIO1; ISIN:
DE000A1RFM03), SYGNIS' new mission is to develop and distribute
technologies and products from X-Pol, which has a commercial product
in the DNA amplification segment, QualiPhi® and is currently
developing other products in the field of Next Generation Sequencing.

### Disclaimer Some statements included in this press release,
relating neither to proven financial results nor other historical
data, should be viewed as forward-looking, i.e. not definite. Such
statements are mainly predictions of future results, trends, plans or
goals. These statements should not be considered to be total
guarantees since given their very nature they are subject to known
and unknown risks and imponderability and can be affected by other
factors as a consequence of which the actual results, plans and goals
of SYGNIS Pharma AG may deviate greatly from the established
conclusions or implied predictions contained in such statements.
SYGNIS does not undertake to publicly update or revise these
statements in the light of new information or future results or for
any other reason. ###

Contact:
SYGNIS Pharma AG
Pilar de la Huerta
CEO/CFO
Tel: +34-918063089
Email: pdelahuerta@sygnis.es