DGAP-News: Nine month report of MOLOGEN AG: Successful cancer studies and capital increases show positive effects
(firmenpresse) - DGAP-News: MOLOGEN AG / Key word(s): Quarter Results
Nine month report of MOLOGEN AG: Successful cancer studies and capital
increases show positive effects
12.11.2012 / 07:54
---------------------------------------------------------------------
Press release N°12/2012 of November 12, 2012
Nine month report of MOLOGEN AG: Successful cancer studies and capital
increases show positive effects
* Cancer therapies MGN1703 and MGN1601 deliver promising study results
* Start of cooperation with CharitéBerlin and Max Delbrück Centrum
* Successful capital increases create solid financial basis
Berlin, November 12, 2012 - In the first nine months of the current fiscal
year, MOLOGEN AG achieved several important objectives, particularly in the
area of research and development. The clinical studies of both product
candidates, MGN1703 (colorectal cancer) and MGN1601 (renal cancer) exceeded
all expectations. The successful conclusion of preclinical work on the
leishmaniasis vaccine MGN1331 and the start of the cooperation with CharitéBerlin and the Max Delbrück Centrum for the clinical testing of an
immunotherapy against malignant melanoma based on the MIDGE(R) technology
developed by MOLOGEN represented other positive milestones in the current
reporting period. Furthermore, thanks to the capital increases carried out
in April and June of 2012, MOLOGEN was able to more than triple the cash
and cash equivalents, to 25.2 million euros, by the end of the third
quarter.
The current studies on MOLOGEN compounds MGN1703 and MGN1601 delivered
outstanding scientific results. An initial evaluation of the colorectal
cancer study with MGN1703 has already resulted in a statistically
significant demonstration that, in a subpopulation, the median
progression-free survival of 5.8 months was more than double that of the
placebo group. Progression-free survival describes the time period during
which a cancer does not progress any further and is the primary endpoint of
the study. The hazard ratio for this population is 0.39. That means that
the risk of renewed tumor progression in patients treated with MGN1703 was
less than half that of the placebo group. The evaluations of the MGN1703
colorectal cancer study, which were presented to this year's congress of
the European Society for Medical Oncology (ESMO), generated great interest
among industry professionals, and particularly among pharmaceutical
companies. MOLOGEN has thus further strengthened the activities relating to
the licensing of MGN1703. Furthermore, MOLOGEN has applied for a phase II
study, in order to confirm the efficacy of MGN1703 in lung cancer as well.
The preparations for this study are being moved forward intensively.
The newest data from the renal cancer study with MGN1601, which was also
presented at the ESMO congress, is extremely promising. In patients who
were able to completely finish the prescribed therapy regimen of the study,
it shows an exceedingly clear survival advantage over patients who had to
terminate the treatment prematurely due to their severe cancer.
During the reporting period, MOLOGEN also moved forward with the activities
in the area of research and development for both vaccine candidates,
MGN1331, for the treatment of Leishmaniasis, and MGN1333, for the treatment
of hepatitis B. The preclinical work on vaccine candidate MGN1331 has since
beenfinished and showed outstanding test results.
Results of operations developing according to plan
In the first three quarters of 2012, MOLOGEN AG achieved total revenue of
0.1 million euros (9M 2011: 0.1 million euros) and other operating income
of 0.2 million euros (9M 2011: 0.5 million euros). As expected, the net
loss for the reporting period increased correspondingly, from 5.0 million
euros in the first nine months of 2011 to the current 5.7 million euros.
The primary factor driving this was the increase in research and
development activities, particularly in the area of clinical studies.
As of September 30, 2012, MOLOGEN AG had cash and cash equivalents in the
amount of 25.2 million euros (12/31/11: 7.5 million euros). The majority of
the cash and cash equivalents originate from the two successful capital
increases that MOLOGEN carried out in 2012.
'Since we were able to strengthen the financial basis of the company
immensely through two capital increases in recent months, MOLOGEN now
presents itself as a very solidly financed company with great scientific
and economic potential,' said Jörg Petraß, Chief Financial Officer of
MOLOGEN AG.?About MOLOGEN AG
MOLOGEN AG, a German biopharmaceutical company with headquarters in Berlin
specializes in the research and development of innovative medications on
the basis of DNA structures. The activities focus on numerous product
developments which are relevant to the immune system; on the one hand
vaccines against infectious diseases and on the other hand cancer
medications. MOLOGEN AG is globally one of the few biotechnology companies
with well tolerated DNA-based cancer treatment in the clinical development
phase.
The stocks of MOLOGEN AG (ISIN DE0006637200) are listed in the Prime
Standard of the German stock exchange.
www.mologen.com
Memberships in associations:
Biotechnologieverbund Berlin-Brandenburg (bbb) e.V. | BIO Deutschland e.V.
| DECHEMA - Society for chemical technology and biotechnology e.V. |
German industrial association of biotechnology (DIB) | Association for
the Promotion of Science and Humanities in Germany | Association of
German biotechnology companies (VBU) | Association of researching
manufacturers of pharmaceuticals e.V. (VFA) | Association of the chemical
industry e.V. (VCI)
MIDGE(R), dSLIM(R) and MOLOGEN(R) are registered trademarks of MOLOGEN AG.
MOLOGEN AG
PRESS SERVICE:
Prof. Peter W. Huebner
Head of Corporate Communications
Tel: +49 - 30 - 84 17 88 - 38
Tel: +49 - 30 - 84 17 88 - 50
huebner(at)mologen.com?INVESTOR RELATIONS:
Joerg Petrass
Tel: +49 - 30 - 84 17 88 - 13
Tel: +49 - 30 - 84 17 88 - 50
investor(at)mologen.com
External Investor Relations:
Kirchhoff Consult AG
Sebastian Bucher
T: +49 - 40 - 60 91 86 - 18
F: +49 - 40 - 60 91 86 -16
sebastian.bucher(at)kirchhoff.de
Note about risk for future predictions
Certain information in this report contains forward-looking statements or
the corresponding statements with negation or versions deviating from this
or comparable terminology. These are described as forward-looking
statements. In addition, all of the information given here that refers to
planned or future results of business areas, key financial figures,
developments of the financial situation or other financial figures or
statistical data, is to be understood as such forward-looking statements.
The company points out to investors that they should not rely on these
forward-looking statements as predictions about actual future events. The
company is not obligated and refuses to accept any liability for the
forward-looking statements and has no obligation to update such statements
in order to accurately reflect the current situation.
End of Corporate News
---------------------------------------------------------------------
12.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: MOLOGEN AG
Fabeckstraße 30
14195 Berlin
Germany
Phone: 030 / 841788-0
Fax: 030 / 841788-50
E-mail: info(at)mologen.com
Internet: www.mologen.com
ISIN: DE0006637200
WKN: 663720
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
192611 12.11.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 12.11.2012 - 07:54 Uhr
Sprache: Deutsch
News-ID 201930
Anzahl Zeichen: 6587
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 230 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Nine month report of MOLOGEN AG: Successful cancer studies and capital increases show positive effects"
steht unter der journalistisch-redaktionellen Verantwortung von
MOLOGEN AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
