EANS-Adhoc: Deutsche Effecten- und Wechsel-Beteiligungsges. AG / Valuation Impairment of Investment Portfolio after First-Instance Judgement for Integrated Genomics, Inc.
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
date of causation: 08.10.2009
At the Northern District Court of Illinois, Chicago, the portfolio company Integrated Genomics, Inc., Chicago/USA yesterday lost its action against Tillman Gerngross, founder of GlycoFi, Inc., at first instance. With its suit, Integrated Genomics is trying to assert claims for damages which, in the view of the company, arise from the unlawful commercialisation of a research licence by Gerngross at GlycoFi.
Expectations regarding the outcome of this action formed an essential component of the investment valuation of Integrated Genomics in DEWB''s portfolio. As Integrated Genomics is clearly falling short of its 2009 projections, even in the operating business, the financing for the new industrial biotechnology business segment, planned to become an important pillar of the company in the medium-term, cannot currently be secured.
Together with a valuation adjustment of OLPE Jena GmbH, which as a contract manufacturer for the industry has been particularly affected by the poor development of the economy, the valuation of DEWB''s investment portfolio is anticipated to fall by 7.5 million Euros.
Further inquiry note: Marco Scheidler Tel.: +49 (0) 3641 573-3600 E-Mail: marco.scheidler@dewb-vc.com
end of announcement euro adhoc
issuer: Deutsche Effecten- und Wechsel-Beteiligungsges. AG Leutragraben 1 D-07743 Jena phone: +49 (0)3641 573 3600 FAX: +49 (0)3641 573 3610 mail: ir@dewb-vc.com WWW: http://www.dewb-vc.com sector: Financial & Business Services ISIN: DE0008041005 indexes: CDAX, Classic All Share, Prime All Share stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Stuttgart, München language: English
ISIN DE0008041005
AXC0180 2009-10-08/18:07
