WILEX HY1 2007: projects in line with expectations –improved financial outlook

Munich, 12 July 2007. The Munich-based biopharmaceutical company WILEX AG (ISIN DE0006614720/Frankfurt Stock Exchange/Prime Standard) today published its results and report for HY1 2007 (1 December 2006 – 31 May 2007).

The results are in line with the Company's expectations. All research and development projects are proceeding according to plan. By optimising its cost structure, the Company expects expenditure to be around 12 % under budget, thereby improving the Company's financial outlook. WILEX anticipates that current liquid funds will probably reach until the first quarter of 2009 which is beyond the previously published forecast of the second half of 2008.

	Operating expenses in the first half of 2007 totalled EUR 12.82 million (HY1 2006: EUR 7.86 million; an increase of 63%). This increase resulted mainly from higher research and development costs, which as expected were up from EUR 6.22 million in the previous year to EUR 10.82 million in HY1 2007 (an increase of 74.1%). This development results from the progress realised in the Phase III ARISER trial with a growing number of patients and trial centres. Research and development costs as a percentage of total expenditure increased from 79.1 % in HY1 2006 to 84.4 % in HY1 2007.
	Other operating income amounted to EUR 1.22 million in the first half of 2007, up 96.2% on the same period of the previous year (EUR 0.62 million). This was due to payments made by partners in line with progress on the projects.
	There was a strong improvement in the financial result. Compared with the previous year (EUR -1.20 million), WILEX posted a net financial result of EUR 0.90 for the first half of 2007. The rise of more than EUR 2 million is attributable to the generation of interest income from fixed-term deposits as well as a considerable reduction in WILEX's financial expenditure.
	In line with expectations, WILEX closed HY1 2007 with a result before tax of EUR -10.7 million (previous year: EUR -8.44 million; an increase of 26.8%). Of this, EUR -5.78 million was from Q2 2007 (Q1 2007: EUR -4.93 million).

On the strength of higher than anticipated patient randomisation in trial centres with lower costs and optimisation of the production programme for RENCAREX® consistency lots, WILEX is in a position to revise its guidance for 2007. Assuming that the research and development projects continue to proceed according to plan, WILEX anticipates operating expenses of between EUR 26 million and EUR 30 million (previous year: EUR 19.9 million). This represents a reduction in costs of approximately EUR 4 million compared to the previous forecast. Around 85% (previous year: 79 %) of operating expenses are expected to be attributable to research and development. Operating income is set to total between approximately EUR 2.5 million and EUR 2.8 million (previous year: EUR 1.7 million) for the year as a whole. Accordingly, the requirement for financial resources will amount to between EUR 24 million and EUR 28 million in 2007. WILEX therefore revised its guidance for its funding requirement. WILEX anticipate that current liquid funds will probably reach until the first quarter of 2009 which is beyond the previously published forecast of the second half of 2008.


In the second quarter the Company continued to develop its late stage multi-product portfolio of drug and medical product candidates according to plan. The key events were:

	Patient recruitment in the Phase III ARISER trial again advanced significantly. To date over 560 of 856 patients planned have been enrolled.
	WILEX has also progressed in the preparation for the registration trial of CA9-SCAN. On the recommendation of the Food & Drug Administration (FDA), the Company will apply for a special protocol assessment (SPA), which can significantly reduce development time. In the second quarter, WILEX prepared a revised trial protocol and drafted the Imaging Charter which describes the evaluation procedure to be carried out by independent experts.
	As scheduled, patient recruitment started for the clinical Phase II trial with WX-671 in patients with locally advanced, inoperable and non-metastatic pancreatic cancer.

"We have made significant progress with our projects according to plan. Our liquidity status has improved substantially through the optimisation of key cost areas such as the production of RENCAREX®," commented Peter Llewellyn-Davies, CFO of WILEX AG. He continued: "We are pleased that we are in a position to improve our financial situation, but will continue to focus our attention on the commercialisation of our products and plan to generate additional inflows of capital in the coming years."

The interim report was published on the Company's website: www.wilex.com.

About WILEX
WILEX is a biopharmaceutical Company based in Munich founded in 1997 by a team of physicians and oncologists from the Technical University of Munich. WILEX is focused on the development of new cancer therapies based on antibodies and small molecules. The therapeutic approach of WILEX targets the prevention of growth, spread and the metastasis of malignant tumours and the destruction of malignant tumours in the body. The late stage multi-product portfolio includes both drug and medicinal product candidates as well as research candidates. Currently the following compounds are in clinical development: WX-G250 (development name: RENCAREX®), WX-671, WX-UK1 and CA9-SCAN. The company’s strategy is to develop WILEX into a commercially successful biopharmaceutical company with a broad portfolio of new drugs and medical products for the treatment of cancer. WILEX AG has been listed in the Official Market Segment (Amtlicher Markt) / Prime Standard of the Frankfurt Stock Exchange since 13 November 2006.

ISIN DE0006614720
WKN 661472
Symbol WL6

Contact
Juliane Giese
Manager Public Relations
WILEX AG
Grillparzerstr. 10
81675 Munich
Germany
Tel.: +49 (0)89-41 31 38-29
Fax: +49 (0)89-41 31 38-99
email: investors@wilex.com
Website: http://www.wilex.com

Overview of earnings key figures:

This communication contains certain forward-looking statements, relating to the Company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "will" "should" "future", "potential" or similar expressions or by general discussion of strategy, plans or intentions of the Company. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results of operations, financial condition, performance, or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.

Given these uncertainties, prospective investors and partners are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such forward-looking statements to reflect future events or developments.

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