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Leiden, The Netherlands, January 10, 2006 - Dutch biotechnology company Crucell N.V. (Euronext, NASDAQ: CRXL) announced today that its cash and cash equivalents amounted to € 111.7 million (US$ 132.3 million) at December 31, 2005. This represents a net increase of € 35.0 million (US$ 41.4 million) over the cash and cash equivalents balance of € 76.7 million (US$ 90.8 million) at year-end 2004.
The net increase reflects € 50.1 million (US$ 59.3 million) proceeds from a private placement in May 2005, offset by a net decrease in cash and cash equivalents from operating, investing and financing activities of € 15.1 million (US$ 17.9 million). The reported decrease in cash and cash equivalents is within the guidance of € 15-20 million (US$ 17.8 - 23.7 million) provided by the Company during 2005.
Note: Euros are converted to US Dollars at the December 31, 2005 exchange rate of 1.1842 US$ per 1.0 €.
About Crucell
Crucell N.V. is a biotechnology company focused on developing vaccines and antibodies that prevent and treat infectious diseases, including Ebola, influenza, malaria, West Nile virus and rabies. The company's development programs include collaborations with: sanofi pasteur for influenza vaccines; the U.S. National Institutes of Health for Ebola and malaria vaccines; and GlaxoSmithKline (GSK), Walter Reed Army Institute of Research and New York University for a malaria vaccine. Crucell's products are based on its PER.C6® production technology. The company also licenses its PER.C6® technology to the biopharmaceutical industry. Licensees and partners include DSM Biologics, GSK, Centocor/J&J and Merck & Co., Inc. Crucell is headquartered in Leiden, The Netherlands, and is listed on the Euronext and NASDAQ stock exchanges (ticker symbol CRXL). 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 April 14, 2005, and the section entitled "Risk Factors". The company prepares its financial statements under generally accepted accounting principles in the United States (US GAAP).
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