WILEX Plans IPO

WILEX is specialised in the development of new drugs to fight cancer /
IPO is intended to finance the further development of product candidates until regulatory approval.

11 October 2006

Munich (Germany). – The Munich-based biopharmaceutical company WILEX AG is planning an IPO. The company, which was founded in 1997, specialises in the development of new cancer therapies and is proposing a listing on the Amtlicher Markt / Prime Standard of the Frankfurt Stock Exchange. The proceeds of the IPO are intended primarily to finance further development of its product candidates.

WILEX focuses on the development of new cancer therapies based on antibodies and small molecules. The WILEX therapeutic approach targets prevention of growth, spread and the metastasis of malignant tumours in the body. “Our goal as a company is the development of innovative drugs and products for the treatment of cancer,” said Chief Executive Officer Professor Olaf Wilhelm. “The funds raised at the IPO are intended for the development of our product candidates until approval for marketing.”

The antibody WX-G250 (currently developed under the name of RENCAREX®) is currently being tested in an international Phase III regulatory approval trial for the treatment of patients with non-metastatic clear cell renal cell cancer without detectable metastases after complete or partial removal of the affected kidney. This type of cancer is particularly aggressive. RENCAREX® is intended to inhibit the growth of metastases and
recurrence of these renal tumours, and helps to destroy the cancer cells. According to WILEX, the medical need for such a therapy is high and there is currently no approved drug on the market. WILEX has received “orphan drug status” for RENCAREX®, which inter alia secures the sole marketing right for the product for seven years after regulatory approval.

“All investigations and trials for RENCAREX® as well as our other product candidates have so far been successful,” said Wilhelm. The company is planning to apply for regulatory approval in Europe for RENCAREX® in 2008 at the earliest.”

The company has two therapeutic product lines. In addition to RENCAREX®, there are two small molecules in clinical development: WX-UK1 and WX-671. While RENCAREX® is geared towards destroying the tumour, these two product candidates are intended to block the so-called uPA system. The uPA system plays an important role in the growth, spread and metastasis of tumours. uPA inhibitors such as WX-UK1 and WX-671 could be used in the treatment of patients with breast, ovarian, gastric, pancreatic or colon cancer. Phase I clinical trials have been successfully completed with both WX-UK1 and WX-671. In addition to the product candidates in clinical trials, the company’s portfolio includes further candidates at the pre-clinical and the research stages.

The company’s strategy is for WILEX to develop into a commercially successful biopharmaceutical company with a wide portfolio of new drugs for the treatment of cancer. Professor Wilhelm concludes: “With our well-balanced and well-developed portfolio, our extensive intellectual property and our experienced management, we are well positioned to achieve this goal.”

Contact

Juliane Giese
Manager Public Relations
WILEX AG
Grillparzerstr. 16
81675 Munich
Germany
Tel.: +49 (0)89-41 31 38-29
Fax: +49 (0)89-41 31 38-99
Email: juliane.giese@wilex.com

Please note:

This Press release constitutes neither an offer to buy nor an invitation to make an offer to buy shares or other securities in WILEX AG, and does not replace the prospectus which will be published subject to the approval by the German Federal Financial Supervisory Authority (BaFin).

This document is not an offer to buy securities in the United States of America. Securities may only be sold or offered for purchase in the United States of America with prior registration subject to the provisions of the US Securities Act 1933 in the currently-valid version, or in the absence of prior registration, only on the basis of an exception. Shares in WILEX AG are not and will not be registered pursuant to the provisions of the US Securities Act 1933 in the currently-valid version, and will neither be sold nor offered for purchase in the United States of America. The information contained in this document is not intended to be passed on into the USA or within the USA.

This document is directed at and/or for distribution in the U. K. only to (i) persons who have professional experience in matters relating to investments falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (ii) high net worth entities falling within article 49(2)(a) to (d) of the Order (all such persons being together referred to as “relevant persons”). This document is directed only at relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.

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