Jerini AG Reports Financial Results for First Half 2009

BERLIN, GERMANY--(Marketwire - August 14, 2009) -

Berlin, August 14, 2009 - Jerini AG (FSE: JI4) reported financial
results for the first six months ended June 30, 2009. Under
International Financial Reporting Standards (IFRS), total revenues
for this period increased by 82 percent to EUR 4.0 million (compared
to EUR 2.2 million in the prior year period). Revenues from product
sales of Firazyr® amounted to EUR 1.4 million (prior year period:
EUR nil). Revenues from collaboration agreements increased to EUR 2.6
million (prior year period: EUR 2.2 million). Cash and
cash-equivalents, excluding restricted cash in the amount of EUR 0.3
million, amounted to EUR 16.2 million (prior year period: EUR 17.6
million).

Research and development expenses decreased to EUR 8.3 million in
this six-month period (compared to EUR 9.6 million in the prior year
period). Sales and distribution costs decreased to EUR 2.9 million
(prior year period: EUR 5.3 million) due to expenses in 2008 for the
preparation of Firazyr®'s product launch. General and administrative
expenses increased to EUR 7.2 million (prior year period: EUR 5.4
million). Losses from operations before tax and finance costs (EBIT)
decreased to EUR 14.0 million (compared to EUR 17.9 million in the
prior year period). Net loss from continuing operations for this
period decreased to EUR 9.6 million (prior year period: EUR 17.2
million), and loss per share amounted to EUR 0.16 (prior year period:
EUR 0.33).

Net cash burn for the first six months of 2009 amounted to EUR 9.7
million (prior year period: EUR 20.1 million). Net cash burn is
calculated by the addition of cash used in operating activities
(EUR 14.9 million) and cash provided by investing activities (EUR 0.1
million) as well as cash provided by the divestment of JPT Peptide
Technologies GmbH (EUR 5.3 million), as disclosed in the unaudited
consolidated cash-flow statements for the six-month period ended June
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

Financial Report Q2 2009: http://hugin.info/135931/R/1334997/317122.pdf

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