DGAP-News: MOLOGEN AG: Clinical phase II/III study for the colorectal cancer medicine MGN1703 launched - Dynamics of R&D activities continue in the third quarter.
(firmenpresse) - MOLOGEN AG / Key word(s): Quarter Results
11.11.2010 09:36
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Berlin, 11/11/2010 - MOLOGEN AG very successfully continued its activities
in the third quarter 2010. As the company reported when it published its
quarterly numbers, in the past nine month the focus of its R&D activities
was on the preparation and execution of the clinical phase II/III study
with the DNA-based colorectal cancer medicine MGN1703. In the previously
completed phase Ib study, the medicine had already shown its positive
safety profile. An additional analysis sequence of the data proved, based
on biomarkers, a broad activation of the immune system in the patients,
which significantly exceeded the expectations of the experts. The
scientific concept of dSLIM(R), the molecule on which MGN1703 is based, has
thus again been confirmed.
New research project initiated and current studies continue as planned
In our other current research projects, progress proceeded as planned.
MOLOGEN AG continued the preparations for the clinical phase I/II study
with the cell-based gene therapy for the treatment of renal cancer,
MGN1601. First results of the pre-clinical tests with the newly developed
MIDGE(R)-based DNA vaccine against Leishmaniasis in humans was presented in
September at the Institut Pasteur in Paris. Moreover, MOLOGEN AG in
cooperation with the Dutch company Synvolux Therapeutics B. V. launched a
further research project for the development of a new, highly effective
vaccine against an infection caused by Hepatitis-B viruses. The necessary
financing was secured with funding from the Federal Ministry of Education
and Research as part of the EuroTrans-Bio-Initiative of the European Union.
R&D activities dominate the company results in the third quarter
In the first nine months of the financial year 2010, revenues of MOLOGEN AG
were EUR 67 thousand and were, as expected and similar to the first nine
months of the previous year, on a low level (comparison period: EUR 45
thousand). Other operating income, which mainly consisted of subsidies, was
significantly lower at EUR 135 thousand than in the previous year (EUR 306
thousand) since fewer subsidies were received in the reporting period.
In the reporting period, the deficit increased by EUR 830 thousand to EUR
-4.5 million (comparison period: EUR -3.6 million). The main cause for this
result was, aside from lower other income, higher expenditures for
materials and an increase in other operating expenses as well as an
increase in personnel expenses. The R&D expenditures amounted to a total of
EUR 3.2 million in the reporting period which represents a significant
increase compared to the reference period (EUR 2.4 million).
Income from financing activities in the reporting period was EUR 4.3
million. Assets contain a large percentage of liquid assets; EUR 6,107
thousand as of the reporting date. The liquid assets available will be
sufficient to continue with all scheduled activities and clinical studies
into the year 2011, if the development proceeds as planned. The equity
ratio at the end of the third quarter was 89% and thus higher than the
ratio at the end of 2009 (86%).
The complete quarterly report is available for download on the company
homepage:
German: http://www.mologen.com/Download/Reports/MOLOGEN_Q3_2010_DE.pdf
English: http://www.mologen.com/Download/Reports/MOLOGEN_Q3_2010_EN.pdf
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.
MOLOGEN AG shares are listed on the Prime Standard of the German Stock
Exchange
(ISIN DE 0006637200).
Memberships and associations:
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) (VFA) |
Association of the chemical industry e.V. (VCI)
MIDGE(R), dSLIM(R) and MOLOGEN(R) are registered trademarks of MOLOGEN AG.
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.
MOLOGEN AG
PRESS SERVICE
Prof. Peter W. Huebner
Director of Corporate Communications
Tel: +49 - 30 - 84 17 88 - 38
Tel: +49 - 30 - 84 17 88 - 50
huebner(at)mologen.com
MOLOGEN AG
INVESTOR RELATIONS
Joerg PetraßTel: +49 - 30 - 84 17 88 - 13
Tel: +49 - 30 - 84 17 88 - 50
investor(at)mologen.com
11.11.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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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 Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service
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Datum: 11.11.2010 - 09:36 Uhr
Sprache: Deutsch
News-ID 32571
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