Agennix AG / Agennix AG Reports Financial Results For Fiscal Year 2009 processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. 

Martinsried/Munich  (Germany), Princeton,  NJ and  Houston, TX, March 24, 2010 -
Agennix AG (Frankfurt Stock Exchange: AGX) today announced financial results for
the fourth quarter and fiscal year ended December 31, 2009.

Agennix AG was formed by the combination of Agennix Incorporated and GPC Biotech
AG.   The accounting for  the business combination  was based on the acquisition
method  specified in IFRS 3 (Revised 2008), Business Combinations. Based on that
accounting  treatment, GPC Biotech AG was identified as the acquirer and Agennix
Incorporated  as  the  acquiree  in  this transaction. Therefore, the historical
financial  information of Agennix AG is that  of GPC Biotech AG. The net results
of  Agennix  Incorporated's  operations  from  the  acquisition date of November
5, 2009 to  December 31, 2009, as well as its  financial position as of December
31, 2009, are included in the 2009 fiscal year results.

Fiscal year 2009 compared to fiscal year 2008
Revenues  decreased  38% to  EUR  7.7 million  for  the fiscal year ended December
31, 2009 compared  to  EUR  12.4 million  in  2008. The  decrease  in  revenues is
primarily  due to  a decline  in payments  received under the co-development and
license agreement for satraplatin with Celgene Corporation, which was terminated
in  2008. The decrease in revenue was offset by the recognition of EUR 7.4 million
previously  deferred revenue from the agreement  with Yakult Honsha Co. Ltd. for
the development of satraplatin in Japan.

Research and development (R&D) expenses decreased 60% to EUR 6.7 million for 2009
compared                                                                      to
EUR  16.8 million  for  2008. The  decrease  in  2009 was  primarily  due to staff
reductions  as  a  result  of  the  restructuring  plan implemented in the first
quarter  of 2008, as well as  a decrease in clinical  trial costs due to reduced
clinical trial volumes related to satraplatin.
In  2009, administrative expenses decreased 14% to  EUR 13.1 million compared to EUR
15.2 million for 2008. The decrease in administrative expenses was mainly due to
staff   reductions   and   other  associated  activities  as  a  result  of  the
restructuring plans implemented in 2008.  This reduction, primarily in personnel
costs,  was  largely  offset  by  one-time  costs  associated  with the business
combination  of Agennix Incorporated  and GPC Biotech.  Of the EUR 13.1 million in
administrative expenses, approximately EUR 8.6 million are one-time costs relating
to  the business combination, which includes  legal and advisory fees for banks,
legal counsel and auditors, and severance.

Net loss for 2009 decreased 44% to EUR 11.9 million compared to EUR 21.3 million for
2008.  Net  loss before tax was EUR  13.1 million in 2009 (2008: EUR 21.3 million).
In  2009, a  non-cash  income  tax  benefit  of  EUR 1.1 million was recognized in
connection   with  the  accounting  for  the  business  combination  of  Agennix
Incorporated  and GPC Biotech; no such tax benefit was recognized by the Company
for  2008.  Basic and diluted loss  per share was EUR  1.31 for 2009 compared to EUR
2.89 for  2008. Loss  per  share  amounts  for  2008 have  been  retrospectively
adjusted  to  reflect  the  effect  of  the 5-to-1 exchange ratio related to the
merger.

Cash position
As   of   December   31, 2009, cash,  cash  equivalents  and  available-for-sale
investments   totaled   EUR   11.5 million  (December  31, 2008: EUR  32.0 million),
including  EUR 0.1 million in restricted cash. Net cash burn for fiscal year 2009
was  EUR 21.4 million (December 31, 2008: EUR 33.1 million), with net cash burn of EUR
4.9 million  in the first quarter, EUR 6.5 million  for the second quarter, EUR 4.1
million for the third quarter and EUR 5.9 million for the fourth quarter. Net cash
burn is derived by adding net cash used in operating activities and purchases of
property,  equipment and  intangibles.  The  figures used  to calculate net cash
burn  are contained  in the  Company's consolidated  cash flow statement for the
fiscal year ended December 31, 2009.

Comparison  to previous  year:  fourth  quarter 2009 compared  to fourth quarter
2008
Revenues  for the three months ended  December 31, 2009 increased 241% to EUR 7.5
million                                compared                               to
EUR  31,000 for the same  period in 2008. The  increase in revenues  is due to the
recognition of EUR 7.4 million previously deferred revenue from the agreement with
Yakult  for the development of satraplatin in Japan. R&D expenses for the fourth
quarter of 2009 decreased 15% to EUR 2.9 million compared to EUR 3.4 million for the
fourth  quarter of  2008.  Administrative expenses  increased 6% for  the fourth
quarter  of 2009 to EUR 5.2 million compared to EUR 4.9 million for the same quarter
in  2008.  Net loss for the fourth quarter of 2009 was EUR 1.3 million compared to
EUR  9.0 million for the fourth  quarter of 2008.  Net loss  before tax was EUR 2.5
million  for the fourth quarter of 2009 compared to EUR 9.0 million for the fourth
quarter  of 2008. Basic  and diluted  loss per  share was  EUR 0.15 for the fourth
quarter of 2009 compared to EUR 1.23 for the same period in 2008.

Quarter  over quarter  results:  fourth  quarter 2009 compared  to third quarter
2009
Revenues  for the fourth quarter  of 2009 were EUR 7.5 million  compared to EUR 0.2
million  for  the  previous  quarter.   R&D  expenses were EUR 2.9 million for the
fourth  quarter of 2009 compared  to EUR 1.3 million  for third quarter of 2009.
Administrative  expenses  for  the  fourth  quarter  of  2009 were EUR 5.2 million
compared  to EUR 1.6 million for the previous quarter.  The Company had a net loss
of EUR 1.3 million in the fourth quarter of 2009 compared to EUR 2.1 million for the
previous  quarter.  Net loss before tax was EUR 2.5 million for the fourth quarter
of  2009 compared to EUR  2.1 million for the  previous quarter. Basic and diluted
loss  per share was EUR 0.15 for the fourth quarter of 2009 compared to EUR 0.29 for
the previous quarter.

Torsten  Hombeck, Ph.D., Chief  Financial Officer, said:   "We are excited about
what  we have already achieved since the close of the merger, including positive
results  from a Phase 2 trial in severe  sepsis, expansion of the FORTIS-M trial
beyond  the U.S. into Europe and other parts of the world, and the completion of
a private placement raising EUR 9.8 million."

Dr.  Hombeck continued:  "Ensuring that Agennix has sufficient funding to get to
the  next major milestone with talactoferrin, which we expect to be Phase 3 data
in  non-small cell lung cancer at the end  of 2011, is a high priority.  We also
look  forward to advancing talactoferrin in the development of severe sepsis and
are  pleased that more details from the Phase 2 trial in that indication will be
presented at the American Thoracic Society International Conference in May."

Financial guidance
With  the recently completed  financing, the Company  expects to have sufficient
cash  to fund operations into  the third quarter of  2010.  The Company plans to
raise  additional funds during  2010 to have sufficient  capital to complete the
FORTIS-M  trial  and  continue  other  key  development and corporate activities
beyond  the  third  quarter  of  2010.  The  Company  is also actively seeking a
partnership for oral talactoferrin, which would provide a non-dilutive source of
funding.

2010 financial calendar
The Company announced dates for its 2010 quarterly results as follows:

First quarter:  May 6, 2010
Second quarter:  August 5, 2010
Third quarter:  November 4, 2010

Conference call scheduled
As  previously announced, the  Company has scheduled  a conference call to which
participants  may listen  via live  webcast, accessible  through the Agennix Web
site at www.agennix.com or via telephone. A replay will be available via the Web
site  following the live  event. The call,  which will be  conducted in English,
will  be held on March 24(th) at 14:00 CET/9:00  AM EDT. The dial-in numbers for
the call are as follows:

Participants from Europe:        0049 (0)69 667775756

0044 (0)20 3003 2666

Participants from the U.S.:       1-646-843-4608


Please dial in 10 minutes before the beginning of the meeting.


About Agennix

Agennix  AG is  a publicly  traded biopharmaceutical  company that is developing
novel  therapies in areas of major unmet  medical need to improve the length and
quality  of life of seriously ill  patients. The Company's most advanced program
is  talactoferrin, an  oral targeted  therapy that  has demonstrated activity in
randomized,  double-blind, placebo-controlled Phase  2 studies in non-small cell
lung  cancer as well as in severe sepsis. Talactoferrin is currently in Phase 3
clinical  trials  in  non-small  cell  lung  cancer.  Other clinical development
programs  include  RGB-286638,  a  multi-targeted  kinase  inhibitor in Phase 1
testing; the oral platinum-based compound satraplatin; and a topical gel form of
talactoferrin  for  diabetic  foot  ulcers.  Agennix's  registered  seat  is  in
Heidelberg,    Germany.    The   Company   has   three   sites   of   operation:
Martinsried/Munich,  Germany;  Princeton,  New  Jersey  and  Houston, Texas. For
additional information, please visit the Agennix Web site at www.agennix.com.

This  press  release  contains  forward-looking  statements,  which  express the
current  beliefs and  expectations of  the management  of Agennix  AG, including
statements  about the Company's future cash  position. Such statements are based
on  current expectations  and are  subject to  risks and  uncertainties, many of
which  are beyond the control  of the Company, that  could cause future results,
performance   or   achievements   to  differ  significantly  from  the  results,
performance  or  achievements  expressed  or  implied  by  such  forward-looking
statements.  Actual results  could differ  materially depending  on a  number of
factors,  and management cautions  investors not to  place undue reliance on the
forward-looking  statements  contained  in  this  press release. Forward-looking
statements  speak  only  as  of  the  date  on  which  they are made and Agennix
undertakes no obligation to update these forward-looking statements, even if new
information becomes available in the future.







For further information, please contact:




Agennix
AG
Investor Relations & Corporate Communications
Phone: +49 (0)89
8565 2693
ir@agennix.com


In the U.S.: Laurie
Doyle
Director, Investor Relations & Corporate Communications
Phone: +1 609 524 5884

laurie.doyle@agennix.com



Additional media contacts for Europe:
MC Services
AG
Phone: +49 (0)89 210 228 0

Raimund
Gabriel
raimund.gabriel@mc-services.eu


Hilda
Juhasz
hilda.juhasz@mc-services.eu



Additional investor contact for Europe:
Trout International
LLC
Lauren Williams, Vice President
Phone: +44 207 936 9325
lwilliams@troutgroup.com



                                     - Financials follow -

For the full management report and condensed consolidated financial statements
and accompanying notes for the fiscal year ended December 31, 2009, please see
the Investor Relations section of the Agennix website at
http://www.agennix.com/index.php?option=com_content&view=article&id=14&Itemid=33
&lang=en.


[HUG#1396950]



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Agennix AG
Im Neuenheimer Feld 515 Heidelberg Germany

ISIN: DE000A1A6XX4;
Listed: Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;


    Press Release including Financial Tables: http://hugin.info/142386/R/1396950/353075.pdf