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Speedel raises CHF 70 million in private funding round
- Funds raised in 2005 total CHF 117.8m -

Basel/Switzerland and Bridgewater NJ/USA, 04 August 2005... Speedel announced today that it has successfully completed its latest private funding round, raising CHF 70 million (approximately EUR 45 million or USD 56 million) through a convertible loan. The loan notes were subscribed primarily by current shareholders.

Konrad P. Wirz, Chief Financial Officer, commented: “We are delighted that the continued confidence shown by our investors has allowed us to secure these funds. Our fundraising in 2005 yielded a total of CHF 117.8 million, one of the largest private biotech funding rounds worldwide. This latest financing provides us with further resources to continue building a biopharmaceutical company of the highest quality. Our mature and diverse pipeline includes two Phase III products with blockbuster potential for major indications, SPP100 partnered with Novartis for hypertension and SPP301 for diabetic kidney disease. Furthermore, our clinical pipeline includes SPP200 in Phase II for graft occlusion in chronic hemodialysis. The Company’s strong science base has enabled us to become world leaders in renin inhibition where we have SPP630 and SPP635 in early Phase I and more compounds at the pre-clinical stage.”

The proceeds from this latest round will be used for clinical pipeline development, specifically for the Phase III study of SPP301 that began in July 2005 and to support the activities of Speedel Experimenta, the company’s late-stage research unit. Since inception in 1998, Speedel has secured gross proceeds of CHF 239 million (approximately EUR 154 million or USD 191 million) from private placements of equity securities and from two convertible loans. In addition, we have had total revenues of CHF 57.7 million (approximately EUR 37 million or USD 46 million) principally from milestone payments.

Publisher Contact Information:

+41 (0) 61 206 40 14

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