MOLOGEN AG
MOLOGEN AG presents nine month result: Focus on implementation of ‘Next Level’ strategy following successful capital increase
DGAP-News: MOLOGEN AG / Key word(s): 9-month figures PRESS RELEASE N 17 / 2016 of 11/7/2016 MOLOGEN AG presents nine month result: Focus on implementation of “Next Level” strategy following successful capital increase – Capital increase and convertible bond with gross proceeds of presumably EUR16.1 million – Further implementation of the “Next Level” corporate strategy – Advancement of the four clinical studies with the lead product lefitolimod (MGN1703) – Progress in these trials affects financial result – Outlook unchanged for full-year 2016 – First anti-tumor data of the TLR9 agonist EnanDIM(R) in a murine model
Dr. Mariola Söhngen, CEO of MOLOGEN AG: “Since the beginning of the year we have achieved significant milestones – both strategic and at development and financing level. With our new “Next Level” strategy, we pursue a clearly defined objective: the focus on our lead product lefitolimod and preparing for a potential market entry. In this regard, additional key advances were made in the ongoing clinical studies. Moreover, the capital measures were very successfully concluded. As a result we will therefore be presumably financed up to the fourth quarter 2017.” Further implementation of the new “Next Level” corporate strategy Due to positive results recorded in the first phase of the TEACH study in the indication HIV, the continuation of the trial into an extended phase was announced in March 2016. In this extension phase of the study, patients will be treated with lefitolimod (MGN1703) over a longer period of time. Patient recruitment began at the end of June 2016. The first results are expected in mid-2017. Patient recruitment for the first combination study with lefitolimod with the Checkpoint-Inhibitor Yervoy(R), which MOLOGEN is carrying out in cooperation with the MD Anderson Cancer Center Texas, started in July 2016. In September 2016, MOLOGEN presented preliminary anti-tumor data on the lefitolimod successor molecules EnanDIM(R) in a murine tumor model at the second international CRI-CIMT-EATI-AACR Cancer Immunotherapy Conference in New York, US.. The pre-clinical in vivo data showed that EnanDIM(R) can reduce tumor growth and thus prolong survival. It has been shown previously that EnanDIM(R) molecules broadly activate immune cells in vitro and revealed no signs of toxicity after the administration of maximal feasible doses in vivo. These data constitute the next pre-clinical step towards a clinical development program of EnanDIM(R) in the treatment of cancer. Intensive continuation of clinical studies requires increased expenses Capital increase presumably secures financing up to fourth quarter of 2017 Following the successfully concluded capital increase in October 2016 and a currently ongoing convertible bond issuance after the end of the reporting period, the company receives gross proceeds of presumably EUR16.1 million. Corporate financing is therefore secured presumably up to the fourth quarter of 2017. With the acquired funds, MOLOGEN plans to continue implementing the “Next Level” strategy. As such, the majority of available financial resources will go into the further development of lefitolimod (MGN1703) and the successor agent molecules EnanDIM(R). Forecast for fullyear 2016 confirmed MOLOGEN AG’s interim statement for the first nine months of 2016 can be found on the company’s website at: www.mologen.com. MOLOGEN AG The cancer immunotherapy lefitolimod (MGN1703) is the company’s lead product and best-in-class TLR9 agonist. Treatment with lefitolimod (MGN1703) triggers a broad and strong activation of the immune system. Due to this mode of action, namely to reactivate the monitoring function of the immune system, lefitolimod (MGN1703) can be recognized as an Immune Surveillance Reactivator (ISR). It has the potential to be applied to various indications. ISR lefitolimod (MGN1703) is currently being developed for first-line maintenance treatment of colorectal cancer (pivotal study) and small cell lung cancer (randomized controlled trial). Furthermore, it is also being investigated in an extended phase I study in HIV and a phase I combination study with the checkpoint inhibitor ipilimumab (Yervoy(R)). Next to checkpoint inhibitors, lefitolimod is one of the few product candidates that are in a phase III clinical trial (IMPALA) in the field of immuno-oncology and close to reaching the market. MOLOGEN’s pipeline focus is on new, innovative immunotherapies to treat diseases for which there is a high medical need. Memberships in associations: MIDGE(R), dSLIM(R), EnanDIM(R) and MOLOGEN(R) are registered trademarks of MOLOGEN AG. Contact Claudia Nickolaus Note about risk for future predictions
2016-11-07 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | MOLOGEN AG | |
Fabeckstraße 30 | ||
14195 Berlin | ||
Germany | ||
Phone: | 030 / 841788-0 | |
Fax: | 030 / 841788-50 | |
E-mail: | presse@mologen.com | |
Internet: | www.mologen.com | |
ISIN: | DE0006637200 | |
WKN: | 663720 | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange | |
End of News | DGAP News Service |