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31.03.2003 – 22:04

Medigene AG

euro adhoc: MediGene AG
MEDIGENE IMPLEMENTS SPIN-OFF OF ITS CARDIOLOGICAL DRUG DISCOVERY PROGRAM: INDEPENDENT COMPANY LARNAX GMBH FOUNDED (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
Martinsried/San Diego, March 31, 2003: Today the biopharmaceutical
company MediGene AG (TecDax: MDG) and the seed capital investment
company BioM AG jointly established LARNAX GmbH for the discovery and
development of novel drugs against cardiac and metabolic diseases.
MediGene's cardiological research program will evolve into LARNAX
GmbH as of April 1, 2003. MediGene holds almost an 25 % share in
LARNAX GmbH. The cardiological research team of approximately 25
employees will be accepted by the new company. This spin-off will
enable MediGene to realize a cost saving of approx. EUR 6.5 million,
as anticipated in the company's business plan for 2003. With the
foundation of the new company, MediGene has implemented the decision
to spin off its cardiological research program, as announced last
year. This will enable the company to focus on its core competencies,
the development of therapies against tumor diseases.
end of announcement        euro adhoc 31.03.2003

Further inquiry note:

MediGene AG, Email: investor@medigene.com, Fax: ++49 - 89 - 85 65- 2920, Julia Hofmann / Julia
v. Hummel, Public Relations, Tel.: ++49 - 89 - 85 65- 3324 / -2916, Michael Nettersheim, Investor
Relations, Tel.: ++49 - 89 - 85 65 - 2946

Branche: Biotechnology
ISIN: DE0005020903
WKN: 502090
Index: Nemax 50, Prime Standard, TecDAX
Börsen: Frankfurter Wertpapierbörse / Neuer Markt
Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Hamburger Wertpapierbörse / free trade
Niedersächsische Börse zu Hannover / free trade

Original content of: Medigene AG, transmitted by news aktuell