Chiracon Extends Management Board

Luckenwalde (February 3, 2003) - At the beginning of January Chiracon GmbH extended its management team with the appointment of Dr. Thilo Schmidt-Rogge as new Managing Director. From now on Dr. Schmidt-Rogge and Chiracon's founder Dr. Ralf Zuhse are acting as equal managing directors for the company which is specialized in the development and production of new chiral molecules for industrial applications.

Dr. Thilo Schmidt-Rogge received his Ph.D. in biology in 1995 at the Freie Universität Berlin. Since that time he has been working for start-ups (Ventana Medical Systems Inc.) and international life sciences companies (Du Pont de Nemours GmbH) predominantly in marketing and sales. In 1999 and 2000 he was Vice President Business Development for an international publishing company in the USA. Before his move to Chiracon he worked as a Senior Investment Manager with the Berlin Capital Fund, where he was involved with the VC funding of companies such as Capsulution AG and SEPIAtec GmbH.

Dr. Ralf Zuhse, founder and formerly the only Managing Director of Chiracon, adding to the appointment: "I am very glad that Dr. Schmidt-Rogge joins us. He is an experienced person with substantial management abilities and a strong backround in life sciences. By reaching this further mile stone, Chiracon is consequently putting its concept for growth into practice."

Having been asked about his motivations for his move, Dr. Schmidt-Rogge said he was very impressed with the achievements Chiracon had made since its foundation in 1999: "There are very few young companies in the life science sector that generate sales right from their beginning. Even more, Chiracon has been able within a very short time frame to set up GMP production and to become ISO certified." Commenting on his future responsibilities as one of Chiracon's Managing Directors he said: "Even though these days are hard times for start-up companies, I am convinced of Chiracon's strong potential for growth and development. Since Dr. Zuhse and I complement one another in perfect way, I look forward to working with him and his highly motivated team to intensify the development of the company."

About Chiracon GmbH:
Chiracon GmbH set up in 1999 south of Berlin holds a rich portfolio of novel methods and techniques for the production of chiral molecules as raw and starting material for high-value pharmaceuticals. Based on the successful research and development efforts of its 10-strong scientific team Chiracon is in the position to offer the industry a broad range of pure substances in large quantities (kilograms to tons). In the ensuing industrial chemical and pharmaceutical processes these substances could be refined and further developed into very effective medicines that display only minimal side effects. Chiracon aims to provide pharmaceutical companies that focus on this profitable area of drug development with high-value starting materials. Chiracon's main products e.g. chiral alcohols, amines and bromides are produced according to GMP standards. Another very promising market for chiral compounds is the manufacture of liquid crystals for thin-film transistor (TFTs) displays as in mobile computers, telephones, flat-panel displays, and similar products. The company which is currently based in Luckenwalde, Brandenburg, just to the south of Berlin, has recently received venture capital from the Berlin Seed Capital Fund. Dr. Ralf Zuhse, laureate of the "Gründerchampion des Landes Brandenburg"-price (Start-up Champion Brandenburg Award), will use the newly raised VC funds and the turnover generated by the company's operations for the expansion of the production, the establishment of effective marketing and sales structures as well as intensified research and development activities.

Contact:
Chiracon GmbH
Dr. Thilo Schmidt-Rogge
Biotechnolgy Park
D-14943 Luckenwalde, Germany
Tel.: +49-(0)3371-681299
Fax.: +49-(0)3371-681295
Web: www.chiracon.de 
eMail: schmidt-rogge@chiracon.de