Jerini AG Reports Financial Results for the First Nine Months of 2009

Berlin, November 13, 2009 - Jerini AG (FSE:JI4) reported financial
results according to International Financial Reporting Standards
(IFRS) for the first nine months ended September 30, 2009.
 
Total revenues for this period increased to EUR 6.1 million (compared
to EUR 3.4 million in the prior-year period). Revenues from product
sales of Firazyr® amounted to EUR 2.7 million (prior-year period: EUR
0.1 million). Revenues from collaboration agreements increased to
EUR 3.4 million (prior-year period: EUR 3.3 million). Cash and
cash-equivalents, excluding restricted cash in the amount of EUR 0.3
million, amounted to EUR 3.7 million (prior-year period: EUR 19.1
million).
 
Research and development expenses increased in the first nine months
of 2009 to EUR 20.8 million (prior-year period: EUR 13.6 million).
General and administrative expenses decreased to EUR 8.4 million
(prior year period: EUR 13.6 million). Sales and distribution costs
increased to EUR 12.2 million (prior-year period: EUR 7.4 million).
Loss from operations before tax and finance costs (EBIT) increased to
EUR 35.0 million (prior-year period: EUR 31.0 million). Net loss from
continuing operations for the nine-month period ended September 30,
2009 amounted to EUR 29.6 million (prior-year period: EUR 29.8
million). Loss per share from continuing operations for this period
amounted to EUR 0.50 (prior-year period: EUR 0.55).
 
Net cash burn for the first nine months of 2009 amounted to EUR 22.8
million (prior-year period: EUR 41.3 million). Net cash burn is
calculated by the addition of cash used in operating activities
(EUR 28.0 million) and cash provided by investing activities (EUR 5.2
million), as disclosed in the unaudited consolidated cash-flow
statements for the nine-month period ended September 30, 2009.
 
Outlook
 
Shire Deutschland Investments GmbH currently holds more than 98
percent of Jerini's outstanding shares. Upon registration in the
commercial register of the squeeze-out resolution adopted at Jerini's
Shareholders' Meeting on June 16, 2009, Shire Deutschland Investments
GmbH will hold 100 percent of Jerini's outstanding shares. As
compensation, minority shareholders will receive cash compensation of
EUR 7.53 per share from Shire Deutschland Investments GmbH. After the
completion of the squeeze-out, Jerini plans to review the options for
integration into the Shire Group of Companies.
 
About Jerini AG
 
Jerini is a pharmaceutical company based in Berlin, Germany.  On July
3, 2008, Jerini and Shire plc's German wholly-owned indirect
subsidiary Shire Deutschland Investments GmbH entered into a business
combination agreement regarding a strategic partnership. Jerini is
now a subsidiary of Shire plc and a member of the Shire group of
companies. Shire currently holds more than 98 percent of Jerini's
shares.
 
ISIN: DE0006787476
 
For questions, please contact:
Investor Relations
Jerini AG
Invalidenstr. 130
10115 Berlin
T  + 49 - 30 - 97893 - 0
X  + 49 - 30 - 97893 - 599
investor-relations@jerini.com
 
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