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AMT Provides Business Update for the First Quarter 2010

AMSTERDAM, May 19, 2010 /PRNewswire-FirstCall/ -- Amsterdam Molecular Therapeutics (EuroNext Amsterdam: AMT), a leader in the field of human gene therapy, today provides its non-audited business update in compliance with the EU transparency directive. This report summarizes material events and AMT's financial position for the first quarter of 2010.

    Q1 2010 Highlights

    - EMA starts formal review of Glybera(R) dossier
    - Dossier validated by EMA on January 20, 2010
    - Day 120 questions from EMA expected second half of May 2010
    - Innovation Credit received from Dutch Government for Duchenne Muscular
    - Up to EUR 4 million funding, repayable only on successful
    - Supports 35% of development costs through to 2013
    - Start of Phase I/II Gene Therapy Clinical Trial for Hemophilia B
    - First patient dosed

Business Update

AMT's cash position* on March 31, 2010 amounted to EUR17.7 million compared to EUR22.6 million on December 31, 2009. The cash outflow in the first quarter of 2010, amounting to EUR4.9 million mainly represented operational cash flow. AMT employed 85 persons as of March 31, 2010. Total expenses in the first quarter of 2010 were EUR5.1 million compared to EUR4.9 million in the same period last year.

* The Company's cash position is composed of cash and cash equivalents.

Material events after March 31, 2010

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SOURCE Amsterdam Molecular Therapeutics B.V
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