Professor J.C. Fruchart seeks to discredit clinical drug candidate GFT505

Online, December 22, 2009 (Newswire.com) - It has come to the attention of Genfit, a leading biotech company listed on Alternext (NYSE Euronext - Paris), that an undisclosed group of so-called "well known scientific experts" have issued a press release, via NewsWire, purporting to put into question the effectiveness of Genfit's main clinical drug candidate GFT 505.

Not only is this press release issued by its author(s) in a manner contrary to basic scientific methodology, i.e. under the shroud of anonymity, but its content sets out erroneous and even blatantly false statements and conclusions the purpose of which is evidently aimed at misleading the industry and the market.

According to the information obtained by Genfit, the promoter of said press release is Genfit's former Chairman of its Supervisory Board, Professor Jean-Charles Fruchart.

For the past two years, Prof. Fruchart has launched a series of court proceedings against the company or its management. All of the actions initiated by Prof. Fruchart were dismissed, including by the French Supreme Court.

Regrettably, Prof. Fruchart's current actions appear to have for objective to discredit the drugs under development by Genfit, In such circumstances, Genfit has no other alternative but to denounce such actions with the view to defend its research programs and the integrity of its scientists.

Genfit will take all actions necessary, including before the courts, to abate such grave behaviour.

About GENFIT:
GENFIT is a biopharmaceutical company focused on the Discovery and Development of drug candidates in strategic therapeutic fields linked to cardiometabolic and neurodegenerative disorders (prediabetes/diabetes, atherosclerosis, dyslipidemia, obesity, Alzheimer's...). GENFIT uses a multi-pronged approach based on early diagnosis, preventive solutions, and therapeutic treatments to address these major public health concerns and their unmet medical needs. GENFIT's proprietary research programs and its partnerships with leading pharmaceutical companies, including SANOFI-AVENTIS, SOLVAY GROUP, and SERVIER, have resulted in the creation of a rich and diversified pipeline of drug candidates at different stages of development. GENFIT's lead proprietary compound, GFT505, is currently in Phase II and two other compounds, in partnership with SANOFI-AVENTIS (AVE0897) and SOLVAY (SLV341), are in the advanced stages of Phase I.
With facilities in Lille, France, and Cambridge, MA (USA), the Company has about 130 employees, including over 100 scientists. GENFIT is a public company listed on the Alternext trading market by Euronext™ Paris (Alternext: ALGFT; ISIN: FR0004163111).
www.genfit.com

GENFIT
+33 (0)3 20 16 40 00

MILESTONES - Press Relations
Bruno Arabian
+33 (0)1 75 44 87 40 / +33 (0)6 87 88 47 26 - [email protected]