DGAP-News: MOLOGEN AG reaches further important milestones
(firmenpresse) - MOLOGEN AG / Quarter Results
12.05.2010 09:00
Dissemination of a Corporate News, transmitted by
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- Phase 2 Study with cancer medicine against colorectal cancer approved
- Funds for the development of a vaccine against hepatitis B
- Capital increase secures scheduled activities and clinical studies into
the year 2011
Berlin, 12 May 2010 - MOLOGEN AG has reached further important milestones
in the ongoing fiscal year: In March the company received approval from the
responsible health authorities in Germany and Austria to conduct a phase 2
clinical study with its cancer medicine MGN1703. It is expected that the
study will be initiated soon. First results from the phase 2 study will be
available in about nine or ten months following an intermediate analysis.
MOLOGEN has also made further advances with its DNA-based vaccines. The
company has received an assurance of funds for the preclinical development
of a vaccine against hepatitis B. The research project will be conducted in
cooperation with Synvolux Therapeutics B. V. of the Netherlands and should
be completed by the end of 2012. MOLOGEN has also received financial
support for the development of a DNA-based vaccine against leishmaniasis.
Initial preclinical tests are currently being conducted with the new
vaccine.
In addition to the significant advances in the development of its product
candidates, MOLOGEN has also been successful in conducting a further
capital increase in January 2010 in order to financially secure all of its
scheduled activities and clinical studies into the year 2011.
Economic development according to plan
The economic development of MOLOGEN AG also met its targets for the first
quarter of 2010. A total of EUR 1.2 million in financial resources were
used for research in the first three months of the fiscal year 2010. This
compares to EUR 0.7 million in the previous year. The increase in
investments within the field of R&D is especially attributable to the
preparations for the clinical phase 2 study with the cancer medicine
MGN1703. During the period covered by the report, the deficit increased as
expected to EUR -1.6 million as compared to last year. The financial
situation of MOLOGEN continues to be characterized by a high proportion of
liquid assets in the balance sheet total.
About MOLOGEN
MOLOGEN AG, a biopharmaceutical company based in Berlin, specializes in the
research and development of innovative medicines based on DNA structures.
Activities focus on product developments for the treatment of cancer and
vaccines for serious infections.
MOLOGEN was founded in 1998 and is among the few biotechnology companies in
the world with well-tolerated, DNA-based cancer treatment in the clinical
development stage.
MOLOGEN AG shares are listed in the Prime Standard of Deutsche Börse (ISIN
DE 0006637200).
Disclaimer concerning prognoses
Certain statements in this communication contain formulations or terms
referring to the future or future developments, as well as negations of
such formulations or terms, or similar terminology. These are described as
forward-looking statements. In addition, all information in this
communication regarding planned or future results of business segments,
financial classification numbers, developments of the financial situation,
or other financial or statistical data contains such forward-looking
statements. The company cautions prospective investors not to rely on such
forward-looking statements as certain prognoses of actual future events and
developments. The company is neither responsible nor liable for these
forward-looking statements. It is not responsible for updating such
information, which only represents the state of affairs on the day of
publication.
MOLOGEN AG
Contact: Jörg PetraßEmail: investor(at)mologen.com
Telephone: +49-30-84 17 88-13
Fax: +49-30-84 17 88-50
Kirchhoff Consult AG
Dr. Kay Baden
Email: baden(at)kirchhoff.de
Telephone: +49 40 60 91 86 39
12.05.2010 09:00 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: MOLOGEN AG
Fabeckstraße 30
14195 Berlin
Deutschland
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, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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Datum: 12.05.2010 - 09:00 Uhr
Sprache: Deutsch
News-ID 20748
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