Devgen is an innovator in biotechnology focused on discovering, developing and commercializing: 
- a novel generation of biotech products to protect a wide spectrum of crops from damage by pests 
- safer and more environmentally friendly agro-chemical products to protect crops from damage inflicted by plant parasitic nematodes; 
- novel therapeutic concepts and preclinical drug candidates for treatment of metabolic disease (diabetes, obesity, arrhythmia) and inflammation.

Each of these solutions is developed on a platform of in-house designed research, development programs and technologies. Devgen has partnerships with industry leaders in biotechnology and agro chemistry. Incorporated in 1997, Devgen has offices in Ghent (Belgium) and Singapore, with a total work force of over 100 people.

Devgen announces 2006 financial results in line with expectations and meets targets of business plan
Financial highlights 2006
- Revenue at EUR 9.3 million in 2006 as compared to EUR 10.9 million in 2005 
-  Increased investments in R&D in successful programs, acceleration of nematicide business plan and initial steps in hybrid and biotech rice business plan
-  Cash position at EUR 23.8 million end of December
Business highlights 2006
-  Positive outcome of nematicide field trials 
-  Validation reached in RNAi biotech crop protection technology
-  Sound basis laid for developing a rice traits and hybrid seeds business 
-  Devgen's small molecules to treat inflammation showed efficacy and safety in industry accepted therapeutic animal models
Zwijnaarde, March 15, 2007 - Devgen NV (Euronext: DEVG), a leading European biotechnology company, today announced its financial results for the year ending December 31st, 2006. 
2006 was a year of implementation, validation and acceleration for Devgen. 
- The progress of its RNAi crop protection technology led to a one year extension of the Pioneer Overseas Corporation agreement and a 5 year agreement with Monsanto Company (signed in February 2007 but with effect September 1st 2006). 
Devgen will continue to make significant investments in the development of a hybrid and biotech rice business, as rice is a world food crop that requires intensive technology inputs to secure long-term productivity and quality improvements
- The 2006 nematicide field trials have been successfully completed boding well for a second season of regulatory trials in 2007. Devgen has accelerated its business plan and has initiated field testing outside of Europe in countries such as Japan (the biggest nematicide market), South Africa and a number of banana plantation markets (Canary Islands, Costa Rica, the Philippines).
- Progress in the pharmaceutical programs is on track to deliver clinical candidates for out-licensing 
With the successful conclusion of the IPO in June 2005 (EUR 33.7 million funding) and the private placement in February 2007 (EUR 31 million funding), Devgen has ample resources to further accelerate its biotech crop protection business plan, to drive the nematicide candidates towards commercialisation and to bring the pharmaceutical programs towards clinical candidates and collaborations with pharmaceutical companies. 

Positive outcome of 2006 season of nematicide field trials
Zwijnaarde, March 7, 2007 - Devgen announces positive results of its second year of field trials in which the biological performance of its nematicide compounds and formulations was tested in a variety of crops. 
Nematicides are chemical products that control nematodes (roundworms that damage the roots of a large number of crops worldwide, resulting in significant loss in yield and quality). Through its proprietary technology and subsequent field trials across Europe in 2005, Devgen has identified candidate nematicides that demonstrate good efficacy in key crops and have a superior environmental profile versus currently used products.
In order to complete a data package for submission to the regulatory authorities for product approval, a 2 year program of regulatory trials was initiated in March 2006. Devgen focused on efficacy and residue measurement in key nematicide markets (crops such as sugar beet, potato, carrot, tomato, cucumber, melons and peppers) in Northern Europe and Mediterranean countries. 
Overall the results were promising and demonstrated:
- reduction of infestation of the crops by nematodes;
- increased yield and/or crop quality at par with the currently used nematicides, which have a less favourable environmental profile;
- residue analysis in line with expectations.
Devgen is thus on track to complete, in a timely fashion, a regulatory data package for submission to the regulatory authorities.
"The more than 120 field trials we conducted over two seasons, have given us substantial experience with our formulations in the field", says Thierry Bogaert, Devgen's CEO. "We remain confident that our products have the favorable profile Devgen is aiming at."

Devgen receives IWT grant to support its obesity drug discovery program
Zwijnaarde, February 26, 2007 - Devgen (Euronext Brussels: DEVG) has been awarded a 0.9 million Euro technology grant from the Flanders government through IWT (Institute for the Promotion of Innovation by Science and Technology in Flanders) to develop new targets and therapeutic solutions for the treatment of obesity. 
In its obesity program, Devgen takes an innovative, multidisciplinary approach to validate a novel class of kinase targets. 
IWT's support for this program is very important for Devgen, not only from a funding perspective, but it is an endorsement of the innovative approach and validation opportunities of this program. The funding covers a period of 16 months.
Obesity is a disorder that is reaching epidemic proportions globally. Obesity and its frequent consequence diabetes impose a substantial financial burden on society. There is considerable need for new pharmacological approaches. Safe and effective drugs have the potential to achieve market sales in excess of 5 billion dollar per year. 

Devgen successfully closes private offering
Ghent, Belgium, February 15, 2007 - Devgen announces that it has raised € 31 million through a private placement and that existing shareholders sold 2,258,443 shares
The private placement announced this morning has allowed Devgen to place 1,505,829 new shares with institutional investors at a price of € 20.75 per share. As a result Devgen has raised € 31 million. 
Subject to certain conditions that are standard for this type of transaction, the new shares will be issued and paid for on 20 February 2007. Devgen will apply for admission of the new shares on Eurolist by Euronext Brussels.
Devgen was further informed that, subject to the settlement of the capital increase, 2,258,443 existing shares were sold by shareholders who invested in Devgen in several investment rounds between 1997 and 2000, to institutional investors, at the same price. Information on the selling shareholders and the number of shares sold is available on the website of the Company (www.devgen.com, section "Investor Relations", under "Share Capital and Shares").
The demand for the combined offering of shares was more than 3 times the available number of shares due to the interest of a large number of high quality Belgian and international institutional investors. KBC Securities acted as Lead manager and bookrunner of the offer and was assisted by Petercam and Kempen & Co.
Settlement of the purchase price of the existing shares will also take place on 20 February 2007.