SOURCE: Crucell N.V.

November 16, 2006 13:09 ET

Rhein Biotech N.V. to Be Delisted From Frankfurt Stock Exchange

Rhein Biotech N.V. Shares to Be Exchanged for Crucell Shares

LEIDEN, NETHERLANDS -- (MARKET WIRE) -- November 16, 2006 -- Dutch biotechnology company Crucell N.V. (Euronext, NASDAQ: CRXL; Swiss Exchange: SW CRX) today announced plans to de-list Rhein Biotech N.V. from the Frankfurt stock exchange. The de-listing will be effectuated by way of a legal merger between Rhein Biotech NV and Berna Rhein BV, a Crucell group company. Rhein Biotech N.V. shareholders will receive 1.158 Crucell NV shares in exchange for each Rhein Biotech share held.

Ownership of Rhein Biotech N.V. is currently divided between Berna Biotech AG in Switzerland, also fully owned by Crucell N.V., with a 92.7% holding, and external shareholders, who hold the remaining 7.3% of Rhein Biotech N.V. shares. Rhein Biotech N.V. will legally merge into Berna Rhein BV, a subsidiary in the Crucell group, against Crucell shares. The share capital of Crucell will be extended with 345,350 shares, which is less than 1% of the current outstanding share capital. It is expected that the merger will be effected before December 31, 2006.

"De-listing Rhein Biotech N.V. will increase our shareholder value by reducing administrative costs as well as reduce our external reporting requirements," commented René Beukema, General Counsel and Corporate Secretary of Crucell. "The merger and subsequent delisting will streamline our corporate structure and create more transparency, which we believe, will enhance our overall corporate governance."

About Crucell

Crucell N.V. (Euronext, NASDAQ: CRXL; Swiss Exchange: CRX) is a biotechnology company focused on research, development and worldwide marketing of vaccines and antibodies that prevent and treat infectious diseases. Its vaccines are sold in public and private markets worldwide. Crucell's core portfolio includes a vaccine against hepatitis B, a fully-liquid vaccine against five important childhood diseases, and a virosome-adjuvanted vaccine against influenza. Crucell also markets travel vaccines, such as the only oral anti-typhoid vaccine and the only aluminum-free hepatitis A vaccine on the market. The Company has a broad development pipeline, with several Crucell products based on its unique PER.C6® production technology. The Company licenses this and other technologies to the biopharmaceutical industry. Important partners and licensees include DSM Biologics, sanofi aventis, GSK and Merck & Co. Crucell is headquartered in Leiden (the Netherlands), with subsidiaries in Switzerland, Spain, Italy, Korea and the US. The Company employs about 900 people. For more information, please visit www.crucell.com.

Forward-looking statements

This press release contains forward-looking statements that involve inherent risks and uncertainties. We have identified certain important factors that may cause actual results to differ materially from those contained in such forward-looking statements. For information relating to these factors please refer to our Form 20-F, as filed with the U.S. Securities and Exchange Commission on July 6, 2006, and the section entitled "Risk Factors". The Company prepares its financial statements under generally accepted accounting principles in the United States (US GAAP) and Europe (IFRS).

Copyright © Hugin ASA 2006. All rights reserved.

Contact Information

  • For further information please contact:

    Crucell N.V.
    Paul Vermeij
    Director Investor Relations and Corporate
    Communications
    Tel. +31-(0)71-524 8718
    p.vermeij@crucell.com

    For Crucell in the US:
    Redington, Inc.
    Thomas Redington
    Tel. +1 212-926-1733
    tredington@redingtoninc.com