Jerini AG Reports First Quarter 2009 Financial Results

Berlin, Germany, May 15, 2009 - Jerini AG (FSE:JI4) reported financial results for the first quarter ended March 31, 2009. Under International Financial Reporting Standards (IFRS), revenues for the three-month period increased by 49.9 percent to EUR 1.8 million from EUR 1.2 million for the same period in 2008, mainly due to product sales from Firazyr® of EUR 0.4 million in the first quarter 2009. First quarter research and development expenses decreased to EUR 3.5 million (prior year period: EUR 4.7 million). General and administrative expenses decreased to EUR 1.1 million (prior year period: EUR 2.3 million). Marketing and sales expenses decreased to EUR 1.3 million (prior year period: EUR 1.8 million), as a result of expenses related to product launch preparation in the first quarter of 2008. Consequently, loss from continuing operations before tax and finance cost (EBIT) decreased to EUR 3.9 million (prior year period: EUR 7.5 million). For the three-month period ended March 31, 2009, net loss from continuing operations amounted to EUR 2.7 million and net loss amounted to EUR 4.3 million (prior year period: EUR 7.2 million and EUR 8.8 million). Loss per share amounted to EUR 0.07 (prior year period: EUR 0.17), while loss per share from continuing operations amounted to EUR 0.05 (prior year period: EUR 0.14). Cash used in operating activities as of March 31, 2009 totaled EUR 6.3 million (prior year period: EUR 9.5 million). Net cash burn for the first three months of 2009 amounted to EUR 6.4 million (prior year period: EUR 9.9 million). Net cash burn is calculated by the addition of cash used in operating activities (EUR 6.3 million) and cash used in investing activities (EUR 0.1 million), as disclosed in the unaudited consolidated cash flow statements for the three-month period ended March 31, 2009. As of March 31, 2009, cash and cash equivalents amounted to EUR 18.0 million, compared to EUR 2.6 million as of year-end 2008. Outlook Jerini's Shareholders' Meeting will take place on June 16, 2009. Shire Deutschland Investments GmbH currently holds more than 98 percent of Jerini's outstanding shares. Jerini AG has received a formal request, according to section 327a of the German Stock Corporation (AktG), from Shire Deutschland Investments GmbH to pass a resolution at Jerini's General Shareholders' Meeting calling for the transfer of shares held by Jerini's minority shareholders to Shire Deutschland Investments GmbH (so-called "Squeeze Out"). As compensation, minority shareholders will receive payment of adequate cash compensation from Shire Deutschland Investments GmbH. As a result of Jerini's meeting and discussions with the US Food and Drug Administration (FDA) in December 2008, plans are underway to initiate a placebo-controlled confirmatory Phase III trial in the third quarter of 2009. After this trial has been completed, Jerini will submit a complete response to the FDA's "Not Approvable" letter received in April 2008. Progress continues on the divestment of Jerini's preclinical programs. About Jerini AG Jerini is a pharmaceutical company based in Berlin, Germany. In July 2008, the company received marketing approval from the European Commission for Firayzr® in the treatment of acute attacks of hereditary angioedema (HAE). On July 3, 2008, Jerini and Shire plc's German wholly-owned indirect subsidiary Shire Deutschland Investments GmbH ("Shire") 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 and has requested that a resolution be passed at Jerini's 2009 General Shareholders' Meeting calling for the transfer of the remaining shares held by Jerini's minority shareholders. ISIN: DE0006787476 For questions, please contact: Stacy Wiedenmann Director Investor Relations & Corporate Communications Jerini AG Invalidenstr. 130 10115 Berlin T + 49 - 30 - 97893 - 285 X + 49 - 30 - 97893 - 599 wiedenmann@jerini.com This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.