LipoNova AG
LipoNova AG: LipoNova AG reaches important milestones in Q3 for the further development of Reniale – Equity ratio at approx. 90 percent
LipoNova AG / Quarter Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Hannover, Germany. 7th November 2007 – In Q3 of 2007, Phase-III biotech company LipoNova AG (WKN LNAG00) reached important development milestones towards the marketability of their product candidate Reniale. This success is reflected in the company’s positive balance. After a successful consultation with the U.S. Food and Drugs Administration (FDA), it appears possible that LipoNova will be granted FDA approval for marketing Reniale in the U.S. upon the presentation of a successful Phase-III study, without commitment to provide further studies. This development has sparked tentative optimism that LipoNova may be able to renew its production license for Reniale in the immediate future. During Q3 2007, LipoNova continued to focus on driving the development of Reniale. Accordingly, the company’s turnover remained at ten thousand euros in this quarter, as opposed to four thousand euros in Q3 2006. The result of -3.1 million euros was affected significantly by regulatory expenses and met the company’s expectations. In Q3 2006, the result was -2.2 million euros. At 90 percent, the company’s equity ratio as of September 30, 2007 almost equalled that of December 2006. During the next quarters, LipoNova will continue to implement the measures it has already initiated. These include introducing Reniale in non-European foreign markets, applying the product in individual therapies, securing the company’s financial situation and most importantly, launching the Phase-III study. LipoNova’s executive board is confident that the company will continue to succeed by fulfilling these objectives. About LipoNova LipoNova AG is the pioneering the development of autogolous tumor vaccines. LipoNova is the first company in the world operating in this area to conclude national phase III trials for Reniale, its lead product for the treatment of Renal Cell Carcinoma. LipoNova plans to develop Reniale to international market readiness and to develop further life extending anti - cancer products using this technology. For further information please contact: LipoNova Oliver Keilhack CFO Tel: +49 (0) 511 54099-610 E-Mail: oliver.keilhack@liponova.de DeFacto Communications Sylvie Berrebi Tel: +44 (0)20 7861 3838 E-Mail: s.berrebi@defacto.com 07.11.2007 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: LipoNova AG Feodor-Lynen-Str. 35 30625 Hannover Deutschland Phone: +49 (0)511-54099 0 Fax: +49 (0)511-54099 31 E-mail: info@liponova.de Internet: www.liponova.de ISIN: DE000LNAG002 WKN: LNAG00 Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry Standard in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
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