OncoMethylome Sciences (EBR:ONCOB) OncoMethylome Completes Private Placement And Increases Net Cash Position To EUR 30 Million

OncoMethylome Sciences (EBR:ONCOB) Liege (Belgium) - December 16, 2008, 9:30 AM CET - OncoMethylome Sciences (Euronext Brussels: ONCOB, Euronext Amsterdam: ONCOA) announces today that it has agreed to issue 1,332,877 new shares in a private placement for a total amount of EUR 8.4 million. These extra funds will be used to expand OncoMethylome's biomarker development for pharmaceutical applications, such as companion diagnostic tests used in personalized treatment of cancer patients. AGF Private Equity (member of the Allianz insurance group), APG Investments (world's 3rd largest pension fund) and Fortis Investments Management purchased the newly issued OncoMethylome common shares in a private placement. The new shares will be issued at a price of EUR 6.29 per share and will represent 10.1% of the new total of 13,161,074 outstanding OncoMethylome shares. As a result of this transaction, AGF Private Equity acquired 6.0% of the shares of OncoMethylome, and APG Investments and Fortis each acquired 2.4% and 1.7%, respectively, of the company's shares. OncoMethylome, which has no financial debt, has increased its net cash and cash equivalents position to EUR 30 million as of the date of this transaction.

The capital increase will take place on December 18, 2008 and the shares will be listed immediately thereafter. A Listing prospectus has been filed with the CBFA.

Herman Spolders, Chief Executive Officer of OncoMethylome stated that "OncoMethylome welcomes the addition of solid institutional investors such as AGF Private Equity, APG Investments, and Fortis Investments Management as additional cornerstone shareholders. The strong cash position will allow us to accelerate certain products in development and to remain focused on the needs and demand of oncologists and cancer patients. Most importantly, these additional funds will allow us to expand and accelerate our work with pharmaceutical companies to identify biomarkers for eventual oncology companion diagnostic products."

Dr. Rémi Droller, Life Sciences Partner at AGF Private Equity stated that OncoMethylome Sciences corresponds to his Group's priority of investing in innovative high-growth life sciences companies. "OncoMethylome has a broad pipeline of patented cancer products focused on the growing fields of cancer diagnostics and personalized medicine. Of its current 11 products in development, 3 have been launched on the US market in 2008 and we expect another 2 to be partnered with leading commercial partners in 2009. The company has the advantage of having a patented technology (Methylation-Specific-PCR or "MSP) that has been proven to work in multiple cancer applications. Existing partnerships with companies such as Laboratory Corporation of America (LabCorp), Veridex Inc. (J&J), and Schering Plough, demonstrate the company's ability to find key partners for its products. With revenues projected to grow steadily in the coming years, a strong cash and balance sheet position, and its leading-edge patented technology, we believe the company is positioned to lead in this growing industry over the coming years."

ING Bank Corporate Finance acted as Financial Advisor to OncoMethylome in this transaction.

To download this press release as a PDF, click here: Press Release

About AGF Private Equity (www.agfpe.com) AGF Private Equity, a subsidiary of the Allianz Group, is specialised in equity investments. The company manages an investment portfolio of more than 2 billion Euros and is among the leaders in managing funds of funds and venture capital. The Venture Capital team has invested in seventy high-tech companies. AGF Private Equity has a regular and long-term investment capacity: around 50 million Euros are invested each year in young companies with strong potential. With close to 450 million Euros under management in its Venture Capital activity, AGF Private Equity is an active partner of growth companies. For more information, www.agfpe.com About OncoMethylome Sciences OncoMethylome Sciences (Euronext Brussels: ONCOB; Euronext Amsterdam: ONCOA) is a molecular diagnostics company developing gene methylation tests to assist physicians in effectively detecting and treating cancer. Specifically, the company's tests are designed to help the physician (i) accurately detect cancer in early stages of cancer development, (ii) predict a patient's response to drug therapy, and (iii) predict the likelihood of cancer recurrence.

OncoMethylome boasts a broad product development pipeline consisting of ten products and a solid partnering record. The company collaborates with leading international molecular oncology research centers, such as The Johns Hopkins University, and has a number of commercial and collaborative partnerships with Veridex LLC (a Johnson & Johnson company), LabCorp, Schering-Plough Corp., GlaxoSmithKline Biologicals, Abbott, Millipore Corporation's BioScience Division, EXACT Sciences Corp., Merck KGaA, and Qiagen, OncoMethylome's products are based on methylation technology invented by Johns Hopkins University (USA).

Established in January 2003, OncoMethylome has offices in Liege and Leuven (Belgium), in Durham, NC (USA), and in Amsterdam (the Netherlands).

For more information please contact: Philip Devine Tel. +32 479 505 885 ir@oncomethylome.com www.oncomethylome.com

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/137314/R/1277791/284924.pdf

OncoMethylome Sciences

http://www.oncomethylome.com

ISIN: BE0003844611

Stock Identifier: XBRU.ONCOA