DGAP-News: PAION AG / Key word(s): Personnel

22.08.2019 / 09:59

The issuer is solely responsible for the content of this announcement.


– Dr. James Phillips (56) appointed to the Management Board as CEO effective 16 October 2019

– Dr. Wolfgang Söhngen will retire from the Management Board after co-founding PAION and serving as CEO for nearly 20 years

Aachen (Germany), 22 August 2019 – The specialty pharmaceutical company PAION AG (ISIN DE000A0B65S3; Frankfurt Stock Exchange Prime Standard: PA8) today announces that Dr. James Phillips has been appointed as a new member of the Management Board of PAION AG with effect from 16 October 2019 and will succeed Dr. Wolfgang Söhngen as Chief Executive Officer of PAION AG.

Dr. Wolfgang Söhngen, co-founder and long-standing CEO of the company, will be leaving the Management Board in November 2019 as he reaches the age limit foreseen in the company bylaws. Dr. Söhngen will ensure an orderly transfer of his field of responsibilities in cooperation with Dr. Phillips.

Dr. James Phillips is a registered physician who also holds an MBA from the City University Business School in London. Previously, he was the Managing Director of Imevax since 2018 and prior to that CEO of Midatech Pharma for five years. In Europe, Dr. Phillips holds a directorship at Herantis Pharma and will continue to act as an advisor to the Board of Imevax. He was President of EUSA Pharma Europe in its key growth phase prior to its sale to Jazz Pharma in 2012 and CEO and founder of Talisker Pharma (founded in 2004 and sold to EUSA Pharma in 2006). Dr. Phillips was also Chairman of Prosonix between 2007 and 2012 prior to its successful sale to Circassia. Before that, Dr. Phillips worked for Johnson & Johnson and Novartis as a senior executive.

Dr. Jörg Spiekerkötter, Chairman of the Supervisory Board, commented: “We thank Dr. Söhngen for his great dedication and successful work over the last 19 years as co-founder and Chief Executive Officer of PAION. Wolfgang has built up PAION and positioned the company internationally at an early stage through acquisitions and license agreements, above all in the U.S. He has successfully funded the company several times and has strategically aligned PAION to a specialty pharma company.

His successor Dr. Phillips takes over the responsibility at a point that sets the course for the commercialization of remimazolam. With the decision of hiring Dr. Phillips as PAION’s future CEO, we want to use his international, commercial and M&A experience as a pharmaceutical expert to prepare the company for market entry in its maturity phase. Moreover, Dr. Phillips brings a deep operational, manufacturing and logistics understanding in addition to commercial experience which is relevant for the next phase PAION is embarking on. I wish Dr. Phillips good luck in the Management Board of PAION AG.

Dr. Wolfgang Söhngen, CEO of PAION AG, commented: “In the last years, we have successfully advanced extensive developments. Now, with the regulatory filings for remimazolam in the U.S., Japan and China, I am looking forward to the approval and future commercialization of remimazolam with optimism. I would like to sincerely thank all employees and partners who have contributed to the successful development of the company. I am looking forward to the new phase of my life. As a founder and shareholder of PAION AG, I continue to be an enthusiastic PAIONeer and will assist Jim in transitioning into PAION.

Dr. James Phillips commented: “I am excited to be joining PAION at this point to drive a successful commercialization of remimazolam, and I would like to thank Wolfgang for his strong leadership and successes at PAION.

PAION AG is a publicly listed specialty pharmaceutical company developing and aiming to commercialize innovative drugs for out-patient and hospital-based sedation, anesthesia and critical care services. PAION’s lead compound is remimazolam, an intravenous, ultra-short-acting and controllable benzodiazepine sedative/anesthetic drug candidate for which PAION has completed the clinical development for use in procedural sedation in the U.S. and its local licensee Cosmo Pharmaceuticals submitted a New Drug Application in April 2019. In Japan, licensee Mundipharma filed for market approval for remimazolam in general anesthesia in December 2018. In China, licensee Yichang Humanwell filed for market approval for remimazolam in procedural sedation in November 2018.

In Europe, PAION is seeking approval for remimazolam in the indications general anesthesia and procedural sedation. For the development of remimazolam in general anesthesia, PAION is currently conducting a Phase III trial in Europe. The submission of a Market Approval Authorization in procedural sedation in the EU is planned based on the U.S. development program.

Development of remimazolam for intensive care unit (ICU) sedation is part of the longer-term life-cycle plan for remimazolam.

PAION’s vision is to become an acknowledged “PAIONeer” in sedation and anesthesia. PAION is headquartered in Aachen (Germany) with an additional site in Cambridge (United Kingdom).

PAION Contact
Ralf Penner
Vice President Investor Relations/Public Relations
Martinstrasse 10-12
52062 Aachen – Germany
Phone: +49 241 4453-152
E-mail: r.penner@paion.com


This release contains certain forward-looking statements concerning the future business of PAION AG. These forward-looking statements contained herein are based on the current expectations, estimates and projections of PAION AG’s management as of the date of this release. They are subject to a number of assumptions and involve known and unknown risks, uncertainties and other factors. Should actual conditions differ from the Company’s assumptions, actual results and actions may differ materially from any future results and developments expressed or implied by such forward-looking statements. Considering the risks, uncertainties and other factors involved, recipients should not rely unreasonably upon these forward-looking statements. PAION AG has no obligation to periodically update any such forward-looking statements to reflect future events or developments.

22.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: PAION AG
Martinstr. 10-12
52062 Aachen
Phone: +49 (0)241-4453-0
Fax: +49 (0)241-4453-100
E-mail: info@paion.com
Internet: www.paion.com
ISIN: DE000A0B65S3
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 861525

End of News DGAP News Service

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curasan AG still on track despite of weaker second quarter

DGAP-News: curasan AG / Key word(s): Half Year Results

22.08.2019 / 07:51

The issuer is solely responsible for the content of this announcement.


– Net sales declined with EUR 3.1 million by 7.6 percent in the first half year

– Positive signals from the Middle East

– Special effects press EBITDA to EUR -1.5 million

Kleinostheim, 22 August 2019 – curasan AG, Germany, (ISIN DE000A2YPGM4), a leading specialist for medical products in the field of orthobiologics, has published its financial figures for the first half year 2019 today. Mostly due to supply shortages, sales showed a declining trend. The company was able to react and cut short-term spending on marketing and sales. However, special items had a negative impact on earnings to an increased extent.

In the first half year 2019 net sales declined by 7.6 percent to EUR 3.1 million. Positive signals were again generated in the Middle East region, where demand picked up significantly, as in the first quarter. Sales in Europe increased by
6.7% compared to the previous year. Overall, however, this was not enough to offset the sales that had been postponed to the third quarter.

Earnings before interest, taxes, depreciation and amortization (EBITDA) were disproportionately lower at EUR -1.5 million and 30.7 percent below previous year. Despite significantly lower marketing and sales expenses and strict cost management, it was not possible to achieve the previous year’s result. A key factor in this was special expenses for the necessary Extraordinary General Meeting as well as for the preparation and issuance of a convertible bond which reduced the result by a total of around EUR 0.2 million.

The relevant key figures for the first half year 2019 are as follows:

IFRS (in TEUR) H1 2019 H1 2018 Deviation
Net group sales 3,142 3,399 -7.6%
EBITDA -1,528 -1,169 -30.7%
EBIT -1,860 -1,465 -27.0%
Net result -1,890 -1,504 -25.7%
Equity (vs. ultimo 2018) 5,663 7,521 -24.7%
Cash (vs. ultimo 2018) -148 -108 -37.0%


Against the backdrop of the implemented cost-cutting measures and the measures taken in receivables management, cash and cash equivalents decreased by only EUR 40 thousand to EUR -148 thousand. For the further financing of business operations, the company issued a convertible bond in May, which leads to an improved liquidity situation in the third quarter 2019. After the end of the reporting period curasan AG, the company also carried out a capital increase with subscription rights for the shareholders, through which the company received approximately EUR 3.1 million.

The Management Board continues to maintain the outlook for revenue and earnings development for 2019.

The audited interim report for the first half of 2019 is available for download on the company’s website at the following link:

Contact curasan AG:
Andrea Weidner
Investor Relations &
Corporate Communications
+49 6027 40 900-51

About curasan AG:
curasan develops, manufactures and markets biomaterials and medical devices in the field of bone and tissue regeneration, wound healing and osteoarthritis therapy. As a pioneer and global technology leader in the growing field of regenerative medicine, curasan is specialized primarily on biomimetic bone grafting materials for dental, oral/maxillofacial, orthopedic and spinal applications, i.e. materials mimicking biological structures. Numerous patents and a broad record of scientific publications demonstrate the clinical success of the products and the highly innovative strength of curasan. Dental and orthopaedic clinicians worldwide benefit from the broad range of the premium quality and easy to use portfolio offered by the technology leader curasan. curasan maintains its own high-tech facilities for research, development and manufacturing of biomaterials in Frankfurt/Main, Germany. In addition to its headquarters, the company has a subsidiary, curasan, Inc., in Wake Forest, near Raleigh, N.C., USA. curasan’s innovative products are cleared by the US Food and Drug Administration (FDA) and many other international authorities and available in almost 50 countries worldwide. curasan AG is a public company listed in the General Standard at the Frankfurt Stock Exchange.

22.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: curasan AG
Lindigstraße 4
63801 Kleinostheim
Phone: 06027/40 900 0
Fax: 06027/40 900 29
E-mail: info@curasan.de
Internet: www.curasan.de
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 861483

End of News DGAP News Service

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Asklepios Kliniken: Increase in patient numbers and revenue in first half of 2019

DGAP-News: Asklepios Kliniken / Key word(s): Half Year Results

22.08.2019 / 07:30

The issuer is solely responsible for the content of this announcement.

Asklepios: Increase in patient numbers and revenue in first half of 2019

– Revenue up 3.2% at EUR 1,755.4 million

– Number of patients increases by 3.8% to 1,227,556

– Investments from own funds up 22.0% at EUR 93.1 million

Hamburg, 22 August 2019. In the first half of 2019, Asklepios Kliniken GmbH & Co. KGaA generated revenue growth of 3.2% to EUR 1,755.4 million and increased its investments from own funds by 22.0%. Operating performance and the development of our EAT margin did not meet our expectations.

From January to June 2019, Asklepios’s revenue totalled EUR 1,755.4 million, representing a year-on-year increase of 3.2% (6M 2018: EUR 1,700.8 million) and thus also exceeding the company’s own forecast for its revenue development in the current financial year of between 2.5% and 3.0%. At EUR 174.8 million, EBITDA was higher than in the previous year (6M 2018: EUR 159.0 million), while the operating EBITDA margin came to 10.0% (6M 2018: 9.4%). The cost of materials ratio was 21.1% (6M 2018: 21.4%), while the staff costs ratio increased to 66.5% (6M 2018: 65.4%) due to pay rises and an increase in staff numbers, particularly in nursing. In the first half of 2019, consolidated net income (EAT) amounted to EUR 41.9 million (6M 2018: EUR 60.7 million), corresponding to an EAT margin of 2.4% (6M 2018: 3.6%).

A total of 1,227,556 patients were treated at Asklepios’s healthcare facilities in the period from January to June 2019, representing a year-on-year increase of 3.8% (6M 2018: 1,182,742). The trend toward outpatient care continued. The number of cost weights – the key figure used to bill medical services in hospitals – declined by 3.2% to 289,875 (6M 2018: 299,433).

“We are delighted that over 44,000 more patients than in the previous year chose to place their trust in us in the first six months of 2019. This is also reflected in our stable revenue growth. Although this puts us ahead of our full-year forecast, operating performance and the development of our EAT margin in particular are failing to meet our expectations,” says Kai Hankeln, CEO of Asklepios. “We pressed ahead with the establishment of new digital business models in the first half of 2019. In June, we acquired an 80% stake in Belgian company Pulso Europe BV. On 1 July 2019, our hospital group also acquired an 80% stake in Fürstenberg Institut GmbH, Germany’s largest EAP provider and an expert in the provision of services that promote health and performance in the workplace.”

These acquisitions will bolster Asklepios’s newly established “corporate health” business segment. Both companies are perfect additions to the existing portfolio of companies including INSITE Interventions, TALINGO EAP and Asklepios Connecting Health.

In the first half of 2019, cash flow from operating activities totalled EUR 68.8 million (6M 2018: EUR 135.3 million). Capital expenditure amounted to EUR 126.1 million (6M 2018: EUR 114.7 million), including EUR 93.1 million (6M 2018: EUR 76.3 million) from own funds. This corresponds to an increased own funds ratio of 73.9% (6M 2018: 66.5%). “We will continue to enhance patient well-being in line with our corporate strategy “Digital HealthyNear”. As well as investing in digital applications, we continuously invested in training for our employees and medical equipment for our hospitals with a view to providing the best possible level of care to our patients and constantly improving medical quality,” says Hafid Rifi, CFO of Asklepios.

As at 30 June 2019, the company’s net debt totalled EUR 1,111.2 million (31 December 2018: EUR 1,027.0 million). The ratio of net debt to EBITDA for the past 12 months was 2.7x (31 December 2018: 2.6x). The equity ratio was 32.9% (31 December 2018: 36.9%), while cash and cash equivalents amounted to EUR 267.2 million (31 December 2018: EUR 351.6 million).


For the 2019 financial year, we anticipate organic revenue growth that lies above our previous forecast of 2.5% to 3.0%. Consolidated net income (EAT) is falling short of our expectations to date. At this time, we are reiterating our forecast of a slight year-on-year increase in EAT. Although our equity has increased by 1,6% compared with the end of 2018, the equity ratio as at 30 June 2019 was 32,9%, and thus lower than the figure as at 31 December 2018 (36,9%). We put this down to balance sheet extension as a result of IFRS 16 effects. Taking into account the effects of IFRS 16, we expect our equity ratio to remain stable as against the previous year.

Our consolidated interim report on H1 2019 and the corporate news can be found at www.asklepios.com/ir.

About Asklepios

Asklepios Kliniken is one of the leading private operators of hospitals and healthcare facilities in Germany. The hospital group stands for highly qualified care for its patients, with a clear commitment to medical quality, innovation and social responsibility. On this basis, Asklepios has grown dynamically since it was founded almost 35 years ago. The Group currently has around 160 healthcare facilities throughout Germany, including acute care hospitals for all levels of care, specialist clinics, psychiatric and forensic facilities, rehabilitation clinics, nursing homes and medical service centres. In the 2018 financial year, 2.3 million patients were treated at the Asklepios Group’s facilities. The company has more than 47,000 employees.

IR contact
Mirjam Constantin
Investor Relations
Asklepios Kliniken GmbH & Co. KGaA
Debusweg 3
61462 Königstein-Falkenstein
Tel.: +49 61 74 90-1166
Fax: +49 61 74 90-1110

PR contact:
Rune Hoffmann
Head of Corporate Communications & Marketing
Asklepios Kliniken GmbH & Co. KGaA
Rübenkamp 226
22307 Hamburg
Tel.: +49 40 1818-82 6630
Fax: +49 40 1818-82 6639

Visit Asklepios online, on Facebook or on Youtube:

22.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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Vivoryon Therapeutics AG to Publish its Half Year 2019 Results on August 29, 2019

DGAP-News: Vivoryon Therapeutics AG / Key word(s): Miscellaneous

22.08.2019 / 07:00

The issuer is solely responsible for the content of this announcement.

Vivoryon Therapeutics AG to Publish its Half Year 2019 Results
on August 29, 2019

HALLE (SAALE), Germany, 22 August 2019 – Vivoryon Therapeutics AG (Euronext Amsterdam: VVY), will publish its Half Year Results for 2019 on Thursday, August 29, 2019. The company will host a conference call and webcast (in English) open to the public. The Half Year 2019 Results will be available to download on the company website (www.vivoryon.com/investors-news/financial-information/)

Conference call details
Date: Thursday, August 29, 2019
Time: 3:00 pm CEST /09:00 am EDT

Access Code: 67470409#

From Germany: +49 69 201 744 220
From UK: +44 203 009 2470
From USA: +1 877 423 0830

Webcast details
A live webcast and slides will be made available at: (www.vivoryon.com/investors-news/financial-information/)


For more information, please contact:
Vivoryon Therapeutics AG
Dr. Ulrich Dauer, CEO
Email: contact@vivoryon.com

MC Services AG
Anne Hennecke, Susanne Kutter
Tel: +49 (0) 211 529 252 27
Email: vivoryon@mc-services.eu

Notes to Editors:
About Vivoryon Therapeutics AG

Vivoryon Therapeutics AG, headquartered in Halle (Saale), Germany (Euronext Amsterdam: VVY) is a precision intervention company with an advanced candidate in clinical development focused on bringing first-in-class therapies to patients suffering from age-related diseases. The company has a successful track record in bringing drugs targeted to post-translational modifying enzymes to the market. Current projects are focusing on the two isoenzymes of Glutaminyl cyclase, QPCT and QPCTL. QPCT is the crucial enzyme for the generation of highly neurotoxic pyroglutamate species of Abeta. Its inhibition by Vivoryon’s lead molecule PQ912, has successfully completed a phase 2a (SAPHIR) study and the company has initiated a phase 2b core program for the treatment of Alzheimer’s Disease (AD). QPCTL has been identified as a potential target in cancer therapy. Blocking the enzymatic function of QPCTL by small molecule inhibitors is a novel therapeutic approach to silence the CD47/SIRP alpha signal in cancer immunotherapy. Vivoryon Therapeutics has a unique and exceptionally strong patent position on QPCT and QPCTL inhibitors. www.vivoryon.com

About PQ912
PQ912, is a first in class, highly specific and potent inhibitor of Glutaminyl-peptide cyclotransferase protein (QPCT), the enzyme that catalyzes the formation of highly neurotoxic pGlu species. PQ912 has shown therapeutic effects in AD animal models. A Phase 1 study in healthy young and elderly volunteers revealed a dose dependent exposure and showed good safety and tolerability up to the highest dose resulting in >90% target occupancy in the spinal fluid. In June 2017, Vivoryon Therpeutics announced promising top-line data of the Phase 2a SAPHIR trial of PQ912 and presented the study results at CTAD 2017. Results strongly support that pGlu species of Abeta are especially neurotoxic and correlate with AD disease progression. The SAPHIR study provides important guidance on how to move forward with the development of PQ912 as a disease-modifying drug for AD. Altogether, the results make the program highly attractive for further development; the company has initiated the preparation of a Phase 2b core program.

About Alzheimer’s disease
Alzheimer’s disease is a neurological disorder, which is the most common form of dementia. Today, 50 million people are estimated to live with dementia worldwide, and this number is projected to triple to more than 152 million by 2050. Dementia also has a huge economic impact. Alzheimer’s has an estimated, global societal cost of US$ 1 trillion, and it will become 2 trillion-dollar disease by 2030 (World Alzheimer Report 2018).

Glutaminyl-peptide cyclotransferase-like protein (QPCTL)
Glutaminyl-peptide cyclotransferase-like protein (QPCTL) is a posttranslational modifying enzyme that is responsible for the pyroglutamate formation on CD47 – a crucial receptor protein in the immune response to cancer. QPCTL is an isoenzyme of QPCT and can be inhibited by Vivoryon’s lead candidate small molecule PQ912 and other compounds protected under Vivoryon’s patents.

Cancer immune checkpoint inhibitors
Checkpoint inhibitor therapy is a novel kind of cancer immunotherapy. This therapy targets key regulators of the immune system that stimulate or inhibit its actions, which tumors commonly use to protect themselves from attacks by the immune system. QPCTL inhibitor therapy can silence inhibitory cancer checkpoints and thereby restore beneficial immune system functions.

Forward Looking Statements
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgment of Vivoryon Therapeutics AG as of the date of this press release. Such forward-looking statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.

22.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: Vivoryon Therapeutics AG
Weinbergweg 22
06120 Halle/Saale
Phone: +49 (0)345 555 9900
Fax: +49 (0)345 555 9901
E-mail: contact@vivoryon.com
Internet: www.vivoryon.com
ISIN: DE0007921835
WKN: 792183
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich, Stuttgart; Amsterdam
EQS News ID: 860941

End of News DGAP News Service

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aap receives US-American clearance (FDA) for polyaxial LOQTEQ(R) VA calcaneus system; market launch planned for beginning of 2020

DGAP-News: aap Implantate AG / Key word(s): Product Launch/Market launch

21.08.2019 / 07:29

The issuer is solely responsible for the content of this announcement.

aap Implantate AG (“aap”) announces that its new LOQTEQ(R) VA calcaneus plates 3.5 have been cleared by the US-American Food and Drug Administration (FDA). The Company plans to launch the LOQTEQ(R) VA calcaneus system at the beginning of 2020 in the United States and in other markets that accept FDA clearances. The system enables flexible treatment of fractures of the heel bone, which is one of the important load-bearing joints of the lower extremity. The LOQTEQ(R) VA calcaneus plates 3.5 belong to the LOQTEQ(R) VA (VA = Variable Angle) product family. These are polyaxial implants that facilitate inserting angle-stable screws at different angles, thereby improving flexibility within the application.

With its new calcaneus system, aap addresses the foot and ankle segment, which with an average annual growth rate of around 9% is one of the fastest growing segments of the trauma market[1] and accounts for almost half of the total extremities market. The treatment of calcaneus or heel bone fractures is very often performed surgically, as these have a high joint involvement rate of 75%. To meet patients’ growing demands, a swift and stable treatment is required that enables an early restoration of mobility. The anatomically preformed, angle-stable plates of the LOQTEQ(R) VA systems in conjunction with freely selectable screw angles, user-friendly instruments and a high stability fulfils all the requirements of modern surgery. The LOQTEQ(R) VA calcaneus system 3.5 contains different plates for the treatment of the heel bone in two different sizes and designs, whose low profile height of only 1.6 mm with a type II anodization contributes to the comfort of users and patients.

In view of launching the calcaneus plates in the European market, aap is currently preparing the documents for the corresponding conformity assessment procedure for the CE label. With the LOQTEQ(R) VA calcaneus system 3.5 aap takes a further important step on the way to the completion of its portfolio, which will increase the attractiveness for full-service clinics and purchasing groups as well.

[1] Compound Annual Growth Rate (= CAGR) of the years 2019 – 2025; Source: Global Foot and Ankle Devices Market Forecast up to 2025, February 2019.

Implantate AG (ISIN DE0005066609) – Prime Standard/Regulated Market – All German stock markets –

About aap Implantate AG
aap Implantate AG is a globally operating medical device company headquartered in Berlin, Germany. The company develops, manufactures and markets trauma products for orthopaedics. The IP protected portfolio includes besides the innovative anatomical plating system LOQTEQ(R) and trauma complementary biomaterials a wide range of cannulated screws as well as standard plates and screws. Furthermore, aap Implantate AG has an innovation pipeline with promising development projects as the antibacterial silver coating technology and magnesium based implants. These technologies address critical problems in surgery that haven’t yet been resolved adequately. In German-speaking Europe aap Implantate AG directly sells its products to hospitals, buying syndicates and hospital groups while it uses a broad network of distributors in more than 25 countries at the international level. aap Implantate AG’s stock is listed in the Prime Standard segment of Frankfurt Stock Exchange (XETRA: AAQ.DE). For more information, please visit www.aap.de, or download the Company’s investor relations app from the Apple’s App Store or Google Play.

Forward-looking statement
This release may contain forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap‘s public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.

For inquiries please contact: aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Tel.: +49/30/750 19 – 134; Fax.: +49/30/750 19 – 290; f.franke@aap.de

21.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: aap Implantate AG
Lorenzweg 5
12099 Berlin
Phone: +49 (0) 30 75 01 90
Fax: +49 (0) 30 75 01 91 11
E-mail: info@aap.de
Internet: www.aap.de
ISIN: DE0005066609
WKN: 506660
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 860567

End of News DGAP News Service

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Zur Rose Group grows almost 30 per cent in the first half of 2019

EQS Group-News: Zur Rose Group AG / Key word(s): Half Year Results

21.08.2019 / 07:00

Press release

Zur Rose Group grows almost 30 per cent in the first half of 2019

– Strong growth in Germany reinforces clear market leadership

– Sales in Switzerland grow faster than the market

– Profitability improved over last year

– Integration accelerated: apo-rot site in Hamburg to be shut down

– Law introducing e-prescriptions in Germany came into force on 16 August 2019

– Debate about Rx mail-order ban is ended

– Targets for 2022 confirmed

The Zur Rose Group continued as planned along its growth track in the first half of 2019. Including medpex sales, Group revenue was up 28.1 per cent to CHF 771.8 million year on year, which resulted in a slight acceleration in growth since the first quarter of 2019 despite intense price competition. Excluding medpex, sales rose 12.9 per cent in local currency terms[1]. The Group was able to significantly extend its leading position as Europe’s largest mail-order pharmacy. The EBITDA margin improved from minus 1.5 per cent to minus 0.4 per cent.

Notable revenue growth in the German core market
In Germany the Zur Rose Group increased revenue including medpex by 46.2 per cent in local currency terms or 41.1 per cent in Swiss francs to CHF 480.6 million. In order to be able to manage effectively the increased volume, the fitting and installation of equipment is currently being started in the new hall of the logistics extension in Heerlen, which was completed on time and on budget in August 2019. A review is currently under way to assess whether the activities of other Group companies can be moved to Heerlen in 2020, earlier than planned, to achieve greater efficiencies. The Group expects the new distribution centre to be fully operational as scheduled during the course of 2021.

As part of the integration of apo-rot, the next stage is to combine the marketing, service and IT divisions in Heerlen to realise additional synergies. With this in mind, the apo-rot Service GmbH site in Hamburg, where this work is currently performed by a team of around 80, will be closed on 31 December 2019. Out of a sense of social responsibility, apo-rot Service GmbH has voluntarily developed socially acceptable solutions in the form of severance packages which take suitable account of the interests of the staff.

Steady growth in Switzerland
Zur Rose boosted revenue in Switzerland by 4.3 per cent to CHF 273.3 million, growing considerably faster than the market compared with the same period of the previous year. This was achieved despite price cuts of 4 per cent which were mandated by the regulator (IQVIA, ex-factory figures). The physicians business was again a major factor. Here, Zur Rose managed to increase market share in the first half from 24.5 to 25.2 per cent. In B2C, the retail and brick-and-mortar business put in a pleasing performance. However, price cuts in particular on high-priced medicines and changes to treatment within the specialty care business had an impact on the otherwise strong performance. As announced in June, Migros and Zur Rose are stepping up their existing cooperation in shop-in-shop pharmacies, the webshop and in developing innovative models in integrated care.

Ongoing expansion in European core markets
The Zur Rose Group strategically enhanced its business model with the addition of the capital-light marketplace model by acquiring PromoFarma of Spain in September 2018. With the acquisition of the now integrated French marketplace Doctipharma and the addition of new partner pharmacies in France and Italy the Group is continuing to consistently drive ahead the expansion of the business model in European core markets. Revenue in the Rest of Europe segment rose by 34.5 per cent to CHF 17.9 million. The number of partner pharmacies affiliated with the marketplace rose to over 750, offering a total range of over 110,000 products.

Results impacted by exceptional items
Earnings were influenced by several exceptional items in the first half of 2019. The expansion of the range and the processing of 22 per cent more packages as a result of the integration of apo-rot in Heerlen increased complexity and led to the changeover from two-shift to three-shift working, which is likely to be retained until the new distribution centre comes into operation. These factors have an impact on costs. Expenditure on further internationalisation also affected profitability. Conversely, a lower valuation than anticipated was placed on the costs of the earn-out for the medpex purchase, owing to intense price competition in the OTC business in Germany. Including all exceptional items, EBITDA improved from minus CHF 9.0 million to minus CHF 2.5 million and the EBITDA margin from minus 1.5 per cent to minus 0.4 per cent. A net income / (loss) of minus CHF 17.1 million was incurred (previous year: minus CHF 17.6 million). The net income / (loss) margin improved from minus 2.9 per cent to minus 2.6 per cent.

Legal initiatives accelerate development of e-health in Germany
In Germany the Greater Security in the Supply of Medicines Act (GSAV) came into force on 16 August 2019. This sees Germany putting electronic prescriptions (e-prescriptions) into practice. The official nation-wide launch is planned for mid-2020. Patients will no longer have to follow the previous cumbersome procedure of sending prescriptions in by post to mail-order pharmacies. As Europe’s largest mail-order pharmacy, the Zur Rose Group is very well positioned to capture the significant opportunities that development will bring. Over the coming years the Company expects the market share of mail-order for prescription medicines to rise considerably from the current level of just 1.3 per cent. By fully acquiring the joint venture Ehealth-Tec, a digital health solutions company, the Group is playing a pioneering role in the German market as a systems provider for e-prescription solutions. Under strategic partnerships Ehealth-Tec is already putting the first e-prescription pilot projects into practice with health insurers, the Smart Home project of AOK Saxony-Anhalt and, coming soon, the German Association of Specialist Doctors (SpiFa). The technical knowledge gained is a further important element in the development of the Zur Rose healthcare ecosystem.

In July 2019 the Federal cabinet approved the draft of an act to strengthen local pharmacies. The plan to ban mail-order business in prescription medicines is therefore finally over. The Federal Health Minister will refer the intended ban on patient bonuses from mail-order pharmacies based in the EU but outside Germany contained in this draft to the European Commission for consultation. The Zur Rose Group continues to believe that this bill breaches EU law and runs contrary to the 2016 ruling by the European Court of Justice. Other aspects of the bill on strengthening pharmacies, such as repeat prescriptions, will have a positive impact on the mail-order business. In future doctors will be able to issue prescriptions that can be dispensed up to three times. This will make it much easier for people with chronic illnesses in particular to obtain medicines.

The current developments in the market are creating strong momentum supporting the business model of the Zur Rose Group. Management confirms the revenue outlook announced for the full year 2019 and the objectives set for 2022. For 2019, including medpex sales, the Zur Rose Group expects revenue of around CHF 1.6 billion, equivalent to over 30 per cent growth on the previous year. Including all exceptional items, the aim is to achieve break-even at EBITDA level, but at least an EBITDA margin in line with 2018 (minus 1.0 per cent). In light of the introduction of electronic prescriptions in Germany, management confirms the outlook for 2022. The Zur Rose Group is looking to double the revenue achieved in 2018. As previously announced, the EBITDA margin target for 2022 is 5-6 per cent, equivalent to CHF 120-150 million.


Revenue, in CHF thousands (unaudited) 1.1.-30.6.2019 1.1.-31.6.2018 Change
Zur Rose Group including medpex 771,807 602,706 28.1%
Zur Rose Group 668,360 602,706 10.9%
In local currency     12.9%
Germany including medpex 480,620 340,585 41.1%
Germany including medpex, in EUR thousands     46.2%
Germany 377,174 340,585 10.7%
Germany, in EUR thousands     14.7%
Switzerland 273,330 262,121 4.3%
Rest of Europe 17,857 n.a.
Business models      
B2C including medpex 543,279 406,194 33.7%
B2C 439,832 406,194 8.3%
Professional Services 210,671 196,512 7.2%
Marketplace 17,857 n.a.


Key revenue figures
Nominal revenue growth indicates the change in per cent of revenue compared to the previous year. Revenue growth in local currency terms shows the change in per cent of revenue without the impact of exchange rate effects (conversion is at the previous year’s rate).

Further key financials, in CHF thousands (unaudited) 1.1.-30.6.2019 1.1.-30.6.2018 Change
Earnings before depreciation and amortisation (EBITDA) -2,456 -8,960 72.6%
in % of revenue -0.4% -1.5%  
Earnings (EBIT) -17,084 -16,709 -2.2%
in % of revenue -2.6% -2.8%  
Net income / (loss) -17,085 -17,594 2.9%
in % of revenue -2.6% -2.9%  


  30.6.2019 31.12.2018 Change
Equity 445,281 443,606 0.4%
in % of balance sheet total 54.6% 61.1%  


The half-year report 2019 and presentation are available at www.zurrosegroup.com under “Investors & Media” | “Publications”.


At 2 p.m. CET today there will be a telephone conference in English for analysts and the media.
Dial-in numbers: UK: +4420300924 70 | USA: +18774230830 | DE: +4969201744210 | CH: +41445806522
Conference ID: 90776900#
The associated presentation (without audio) is available at:
Alternatively, the presentation can be followed via live audio webcast using the following link:

Investors and analyst contact
Marcel Ziwica, Chief Financial Officer
Email: ir@zurrose.com, phone: +41 58 810 11 49

Media contact
Lisa Lüthi, Head of Corporate Communications
Email: media@zurrose.com, phone: +41 52 724 08 14

23 October 2019 Q3/2019 Trading Update
22 January 2020 Sales 2019
19 March 2020 2019 Full-Year Results
16 April 2020 First Quarter Trading Update
23 April 2020 Annual General Meeting

Zur Rose Group

The Swiss Zur Rose Group is Europe’s largest e-commerce pharmacy and one of the leading medical wholesalers in Switzerland. With its business model, it offers high-quality, safe and cost-effective pharmaceutical care and thus contributes to reducing healthcare costs. It is also characterized by the continuous further development of digital services in the field of drug management and actively promotes its positioning as a comprehensive, integrated cross-service healthcare platform. The creation of added value and a pronounced patient orientation make the Group an important strategic partner for service providers, cost units and industry.

The Zur Rose Group is internationally present with strong brands, including Germany’s best-known pharmacy brand DocMorris. The company employs over 1,300 people at various locations and generated a turnover of CHF 1,207 million in the 2018 financial year. The shares of Zur Rose Group AG are listed on the SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker ROSE). The CHF 115 million corporate bond issued in July 2018 is also listed on the SIX Swiss Exchange (securities number 42146044, ISIN CH0421460442, ticker ZRO18). Further information at zurrosegroup.com

[1] As the separation of the mail-order business has not yet been completed, no medpex revenues have been consolidated in the first half of 2019.

End of Corporate News

Language: English
Company: Zur Rose Group AG
Walzmühlestrasse 60
8500 Frauenfeld
Phone: +41 52 724 08 14
Internet: www.zurrosegroup.com
ISIN: CH0042615283
Listed: SIX Swiss Exchange
EQS News ID: 860487

End of News EQS Group News Service

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Polyphor to host a Key Opinion Leader Meeting in New York on novel approach-es to the treatment of metastatic breast cancer

EQS Group-News: Polyphor AG / Key word(s): Miscellaneous

20.08.2019 / 17:37

Allschwil, Switzerland, August 20, 2019

Polyphor to host a Key Opinion Leader Meeting in New York on novel approaches to the treatment of metastatic breast cancer

Polyphor AG (SIX: POLN) today announced that it will host a Key Opinion Leader (KOL) breakfast meeting on novel approaches to the treatment of metastatic breast cancer on Friday, September 6, 2019 in New York City.

The meeting will feature a presentation by KOL Peter Kaufman, MD, from the University of Vermont, who will discuss the current treatment landscape, as well as the unmet medical need for treating patients with metastatic breast cancer (MBC). Dr. Kaufman is co-chair of the balixafortide FORTRESS trial and was also one of the lead investigators in the Phase 1b trial. Dr. Kaufman will be available to answer questions at the conclusion of the event.

An overview of Polyphor’s ongoing clinical development program for its Phase III compound, Balixafortide (POL6326) will also be presented by the Company’s management team. Balixafortide is a potent antagonist of CXCR4, a key molecule involved in tumor growth and metastasis. Blockade of the CXCR4 pathway by Balixafortide is believed to play a key role in the interplay between cancer cells and their tumor microenvironment and may render tumor cells more susceptible to chemotherapeutic agents and cancer immunotherapy.

Peter A. Kaufman, MD is Professor of Medicine at the Larner College of Medicine at the University of Vermont Cancer Center, an active clinician specializing in the care and treatment of patients with breast cancer, and a leader in clinical and translational research focused on the biological and molecular basis for breast cancer. Dr. Kaufman collaborates in or oversees a number of research studies in breast cancer. His primary areas of research interest include HER-2 (+) breast cancer, and testing for and targeting HER-2/neu therapeutically, as well as the development of new chemotherapeutic agents and novel targeted therapies for breast cancer patients. He has authored and co-authored numerous peer reviewed publications, including several early pivotal clinical trials evaluating Herceptin, and other novel targeted therapeutics. He is currently the study chair of a number of international, national and regional clinical trials in breast cancer, and serves on the Breast Cancer Committee of the NCI sponsored Alliance for Clinical Trials in Oncology, and is the Alliance Institutional Principal Investigator for the UVM Cancer Center. Dr. Kaufman obtained his MD degree from the New York University School of Medicine. He completed an internal medicine internship, residency, and a Hematology/Oncology fellowship at Duke University Medical Center, and after this joined the faculty at the Duke University Cancer Center. He then joined the Section of Hematology/Oncology at Dartmouth-Hitchcock Medical Center and the Norris Cotton Cancer Center as the director of the Comprehensive Breast Care Program. He recently joined the faculty of the University of Vermont Cancer Center.

This event is intended for institutional investors, sell-side analysts, and business development professionals only. Please RSVP in advance if you plan to attend, as space is limited. Members of the media and the public are invited to participate via the live webcast on September 6, 2019 from 8:00 AM to 9:30 AM EDT.

Please click on the following link to attend the meeting: KOL Meeting

Please click on the following link to participate via webcast: KOL Webcast

For further information please contact:

For Investors:
Kalina Scott
Chief Financial Officer
Polyphor Ltd.
Tel: +41 61 567 16 67
Email: IR@polyphor.com


For Media:
Alexandre Müller
Dynamics Group AG
Tel: +41 43 268 32 31
Email: amu@dynamicsgroup.ch


About Polyphor
Polyphor is a clinical stage, Swiss biopharmaceutical company focused on the discovery and development of immuno-oncology compounds and a new class of antibiotics. Polyphor is advancing balixafortide (POL6326) in a Phase III trial in combination with eribulin in patients with advanced breast cancer, and exploring its potential in other cancer indications. In addition, it has discovered and is developing the Outer Membrane Protein Targeting Antibiotics (OMPTA). OMPTA are potentially the first new class of antibiotics in clinical development in the last 50 years against Gram-negative bacteria. The company’s lead OMPTA program is an inhaled formulation of murepavadin for the treatment of Pseudomonas aeruginosa infections in patients with cystic fibrosis. Polyphor is based in Allschwil near Basel and is listed on the SIX Swiss Exchange (SIX: POLN). For more information, please visit www.polyphor.com.

Additional features:

Document: http://n.eqs.com/c/fncls.ssp?u=CWRIPTAKWS
Document title: Polyphor_KOL_20.8.2019

End of Corporate News

Language: English
Company: Polyphor AG
Hegenheimermattweg 125
4123 Allschwil
Phone: +41 61 567 1600
Fax: +41 61 567 1601
E-mail: info@polyphor.com
Internet: www.polyphor.com
ISIN: CH0106213793
Listed: SIX Swiss Exchange
EQS News ID: 860497

End of News EQS Group News Service

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Medartis announces half-year 2019 results

Medartis Holding AG / Key word(s): Half Year Results

20-Aug-2019 / 07:00 CET/CEST

Release of an ad hoc announcement pursuant to Art. 53 KR

The issuer is solely responsible for the content of this announcement.

Medartis Holding AG
Hochbergerstrasse 60E
CH-4057 Basel


Medartis announces half-year 2019 results

Basel, Switzerland, 20 August 2019 – Medartis Holding AG (SIX: MED), a leading manufacturer and provider of medical devices for surgical fixation of bone fractures, reported 8% sales growth in local currencies in the first half of 2019 – a solid result compared to the market and the very strong prior-year period, albeit lower than expected. In a challenging environment, most of Medartis’ core markets and products with higher market penetration continued on their long-standing growth path, while certain distributor markets and newer product segments missed their targets. The EBITDA margin was 13% and EBITDA amounted to CHF 8.7 million. For the full-year 2019, Medartis expects to achieve sales growth of 8-10% in local currencies and an EBITDA margin on par with the first half of the year.

Medartis will today hold a telephone conference (in English) for the media, analysts and investors at 10:00 CEST.

CHFm H1 2018 H1 2018 (1)
(excl. IPO)
H1 2019 Change (1)
(excl. IPO)
Sales 61.0 61.0 64.5 6%
Gross profit 50.1 50.3 54.0 7%
Opex 48.3 45.2 51.7 14%
Operating profit (EBIT) 1.8 5.0 2.4 -52%
EBIT margin 3% 8% 4% -4pp
EBITDA(2) 5.8 9.0 8.7 -3%
EBITDA margin(2) 10% 15% 13% -2pp
Headcount 510 510 588 15%


(1) Excl. capital market-related costs (IPO) of CHF 3.2 million in H1 2018

(2) Positive effect in H1 2019 of CHF 1.8 million on EBITDA and 3 percentage points on EBITDA margin due to application of IFRS 16

Medartis achieved further growth in the first half of 2019, albeit below expectations. The subsidiaries in the key European, Australian and US markets developed at a solid level. The subsidiary in Brazil did not reach its ambitious targets despite further dynamic growth in a persistently difficult market, and certain distributors in Europe held back with investments in new sets due to market uncertainties in view of the entering into force of the new EU Medical Device Regulation. In terms of products, Hand and Wrist, which are the strongest sales lines, continued their previous growth path, while newer products and the Lower Extremities segment experienced less growth than expected. In order to take greater advantage of the potential in this area, the focus is on further strengthening sales activities and completing the product portfolios.

Overall, Medartis reported sales of CHF 64.5 million in the first half of 2019. This corresponds to growth of 8% in local currencies compared with the very strong growth rate of 21% in the first half of 2018, which was positively impacted by the acquisition of the Brazilian distributor as well as early set orders placed by distributors. On a CHF basis, sales rose 6% in the first half of 2019 (H1 2018: 23%), which in particular reflects the exchange rate developments against the euro and the Australian dollar.

In line with the company’s growth strategy, operating expenses rose by 14% in the first half of 2019. Medartis continued to invest in strengthening its international presence, sales activities and product innovations in a targeted manner. At the same time, it suspended certain planned expenditures due to the less dynamic sales trend. Headcount increased from 561 at the end of 2018 to 588 at mid-year 2019.

Profitability at the EBITDA level amounted to CHF 8.7 million compared with an EBITDA adjusted for IPO costs of CHF 9.0 million in the first half of 2018, whereby the result for the first half of 2019 included a positive impact of CHF 1.8 million resulting from the first-time application of IFRS 16. The EBITDA margin was 13% compared with the adjusted EBITDA margin in the prior-year period of 15%. EBIT was CHF 2.4 million versus an adjusted EBIT of CHF 5.0 million one year ago, and net profit was CHF 0.7 million compared with an adjusted net profit of CHF 4.0 million in the first half of 2018. Cash flow from operating activities was CHF 0.8 million compared with CHF 2.6 million in the first half of 2018.

Willi Miesch, CEO of Medartis: “Although our key markets and established product lines continued to deliver solid sales, I am not satisfied with our half-year results as the pace of growth decelerated, and we must develop the growth potential in newer markets and products more consistently. I am convinced that our new CEO Christoph Brönnimann, to whom I will hand over my operational responsibilities after over 20 years, will continue to drive these tasks forward and will further develop our organization accordingly. I firmly believe in the strength and the potential of Medartis, and will continue to contribute to the sustainable success of our company on the Board of Directors’ new Strategy and Innovation Committee.”

Development by region

  EMEA APAC LATAM North America Total
Sales, CHFm          
H1 2019 34.7 11.5 7.6 10.7 64.5
H1 2018 34.0 11.2 6.5 9.3 61.0
Growth, %          
in CHF 2% 3% 16% 14% 6%
in local currencies 5% 8% 21% 11% 8%


Medartis’ biggest region, EMEA, recorded sales of CHF 34.7 million in the first half of 2019, which corresponds to growth of 5% in local currencies compared with an extraordinarily strong first half of the year in 2018. While Medartis’ own subsidiaries, such as in Germany, are on target for the year, important distributor markets remained significantly below expectations. The introduction of the new European Medical Device Regulation (MDR) has led to a general uncertainty in the market due to which some distributors held back on investing in new sets. This was pronounced in Italy, where demand for sterile disposable packaging rose significantly due to regulatory requirements. Medartis has been offering sterile packaging solutions for implants since last year and is accordingly positioned for future demand in this area; adjustments to logistical processes, however, increase the outlays for all market participants during the transition period. In addition, Medartis plans to build a packaging facility at the company’s Basel location.

In the North American market, sales increased by 11% in local currency to CHF 10.7 million. Growth was therefore above the market, but not yet in line with the envisaged growth momentum. The measures that have been introduced to strengthen management capacities and the sales force are taking effect and will be further intensified.

Sales in APAC increased 8% in local currencies to CHF 11.5 million. The subsidiary in Australia, Medartis’ strongest sales market in the region, recorded solid growth but suffered as a result of a nation-wide reduction to all reimbursements in the health care system of 7%. In Japan, the distributor business in the Upper Extremities segment was below expectations, as the seasonal growth slowdown toward the end of the first half of the year was more pronounced than in the previous year. The new subsidiary in Japan, which began operations at the end of 2018, reported its first sales in the foot segment.

In LATAM, Medartis reported sales of CHF 7.6 million in a persistently challenging market environment, which corresponds to growth of 21% in local currencies. Recording 45% growth in local currencies compared to the prior-year period, the subsidiary in Brazil saw significantly improved momentum, however, like the subsidiary in Mexico, remained below expectations.

Development of business segments

CMF and
Sales, CHFm        
H1 2019 45.9 9.0 9.6 64.5
H1 2018 43.5 8.3 9.2 61.0
Growth, %        
in CHF 5% 9% 4% 6%
in local currencies 8% 12% 7% 8%


For Upper Extremities, Medartis’ largest business segment, sales increased 8% in local currencies in the first half of 2019 to CHF 45.9 million. Medartis has an established position for hand and wrist solutions in many key markets, which was further expanded. For the newer elbow and shoulder solutions, more time is required in order to build a similarly well-established market position. The training-intensive introduction of the new concept for the treatment of shoulder fractures launched in the market at the end of 2018 was an important step in completing the portfolio and is showing initial positive, although still modest, growth momentum.

Lower Extremities, Medartis’ youngest business segment, recorded growth in local currencies of 12% and achieved sales of CHF 9.0 million. The subdued growth compared to the prior-year period reflects the fact that in the first half of 2018 – as during the phase after entering this segment in 2016 – a series of new sets were introduced in the market and distributors therefore made larger early stage investments. With a view to leveraging market potential in the future, Medartis is placing a stronger focus on gradually rounding out its product range in this segment in the coming years and adding to the existing fore- and midfoot solutions with additional solutions for foot and ankle. Sales activities, which are currently more focused on the Upper Extremities segment, are also to be specifically expanded for Lower Extremities.

The CMF and Others segment, which comprises solutions for the craniomaxillofacial region as well as instruments and containers, recorded sales growth in local currencies of 7% to CHF 9.6 million in the first half of 2019. As a result of the planned introduction of a new generation of the CMF product line in 2020, distributors are currently holding back on investing in additional sets in the current product line.

2019 outlook
In light of the half-year results that were below expectations, Medartis considers it difficult to achieve the originally envisaged double-digit sales growth for 2019 and from today’s perspective, expects to see growth of 8-10% in local currencies. At the EBITDA level, Medartis aims to achieve a margin on par with the first half for the full-year 2019.

With its products and networks of physicians, Medartis continues to see itself as very well positioned and will further invest to build out its market position and complete its offering in a targeted manner. Specifically, Medartis plans to increase its focus on dedicated sales activities, as well as further expanding its product range with innovative solutions, on the one hand by completing the plates and screws portfolio and on the other hand through complementary third-party products. The new Board of Directors’ Strategy and Innovation Committee, led by Willi Miesch, will also be paying particular attention to the product offering. As announced on 27 May 2019, Christoph Brönnimann will assume his role as Chief Executive Officer effective 1 September 2019.

In terms of the regions, further strengthening Medartis’ market position in the US remains an important area of focus. In the fourth quarter of 2019, Medartis plans to introduce additional, innovative wrist plates to the market, which have been developed specifically for the US. In Japan, the new subsidiary is further building its sales forces in the Lower Extremities segment, which it began at the end of 2018. In China, Medartis continues to expect that it will receive product authorization in the second half of 2019, and in a next step, begin to collaborate with distributors. The expansion of Medartis’ presence in Brazil with own sales forces continues, although developments in the regional market situation will be taken into consideration on an ongoing basis when determining the pace and scope thereof.

Implementation of the new Medical Device Regulation, which will come into force in the European Union in May 2020, continues to proceed according to plan. Given the current political debate surrounding a potential future framework agreement between Switzerland and the EU, the fact that Medartis already has an authorized and certified representative in the EU with its subsidiary in Umkirch, Germany, is beneficial, as the subsidiary can act as an authorized EU partner if required. Medartis is therefore also in a position to potentially supply the EU area as a third-country manufacturer.

Documents 2019 half-year results
The following documents pertaining to the 2019 half-year results are available online:

Press release:


Half-year report:

Telephone conference for the media, analysts and investors (in English)
Date: Tuesday 20 August 2019
Time: 10:00 CEST
Speakers: Willi Miesch, CEO; Dominique Leutwyler, CFO

Join with PC, Mac, Linux, iOS or Android: https://medartis.zoom.us/j/459503054

Dial-in numbers by telephone:
Switzerland +41 31 528 09 88
UK +44 203 481 5237
US +1 646 558 8656
Other international numbers see https://zoom.us/u/acjCfpd2Sy
Meeting ID: 459 503 054

Financial calendar
03 March 2020 Publication of 2019 full-year results
17 April 2020 Annual General Meeting
18 August 2020 Publication of 2020 half-year results

Patrick Christ
Head Corporate Services
Medartis Holding AG
Phone: +41 61 633 34 70

About Medartis
Founded in 1997 and headquartered in Basel, Switzerland, Medartis is one of the world’s leading manufacturers and providers of medical devices for surgical fixation of bone fractures for upper and lower extremities as well as for the craniomaxillofacial region. Medartis employs around 600 individuals across its 12 locations, with products offered in over 50 countries globally. Medartis is committed to providing surgeons and operating theater personnel with the most innovative titanium implants and instruments as well as best in class service. For more information, please visit www.medartis.com.

This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Medartis Holding AG. This publication may contain certain forward-looking statements and assessments or intentions concerning the company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place reliance on these statements, particularly not in connection with any contract or investment decision. The company disclaims any obligation to update these forward-looking statements, assessments or intentions. Further, neither the company nor any of its directors, officers, employees, agents, counsel or advisers nor any other person makes any representation or warranty, express or implied, as to, and accordingly no reliance should be placed on, the accuracy or completeness of the information contained herein or of the views given or implied.

End of ad hoc announcement

Language: English
Company: Medartis Holding AG
Hochbergerstrasse 60E
4057 Basel
Phone: +41 61 633 34 34
Fax: +41 61 633 34 00
E-mail: info@medartis.com
Internet: www.medartis.com
ISIN: CH0386200239
Valor: 38620023
Listed: SIX Swiss Exchange
EQS News ID: 859419

End of Announcement EQS Group News Service

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DGAP-News: STRATEC SE / Key word(s): Half Year Results

15.08.2019 / 06:59

The issuer is solely responsible for the content of this announcement.


Sales in H1/2019 show year-on-year growth of 21.7% at constant currency to EUR 110.4 million; nominal growth of +24.1% (H1/2018: EUR 88.9 million)

– Adjusted EBIT for H1/2019 up 40.4% to EUR 12.7 million (H1/2018: EUR 9.1 million)

– Adjusted EBIT margin improves year-on-year by 130 basis points to 11.5%

– Successful market launch of new products and strong development pipeline

– Financial guidance for fiscal year 2019 confirmed

Birkenfeld, August 15, 2019

STRATEC SE, Birkenfeld, Germany, (Frankfurt: SBS; Prime Standard) today announced its financial results and major events for the period from January 1, 2019 to June 30, 2019 with the publication of its Half-Yearly Financial Report H1|2019.


EUR 000s H1/2019 H1/20182 Change Q2/2019 Q2/20182 Change
Sales 110,369 88,931 +24.1% 62,694 49,290 +27.2%
Adj. EBITDA 17,343 12,227 +41.8% 9,981 6,664 +49.8%
Adj. EBITDA margin (%) 15.7 13.7 +200 bps 15.9 13.5 +240 bps
Adj. EBIT 12,723 9,060 +40.4% 7,644 5,038 +51.7%
Adj. EBIT margin (%) 11.5 10.2 +130 bps 12.2 10.2 +200 bps
Adj. consolidated net income3 10,284 7,455 +37.9% 6,448 4,098 +57.3%
Adj. earnings per share (EUR)3 0.86 0.63 +36.5% 0.54 0.35 +54.3%
Earnings per share (EUR)3 0.46 0.24 +91.7% 0.35 0.15 +133.3%


1 For comparison purposes, adjusted figures exclude amortization resulting from purchase price allocations in the context of acquisitions
and the associated reorganization expenses, as well as other non-recurring effects.
2 Retrospectively adjusted for recognition of nucleic acid purification business as discontinued operation pursuant to IFRS 5.
Not retrospectively adjusted for IFRS 16.
3 Result from continuing operations.

Adj. = adjusted
bps = basis points

Consolidated sales increased by 24.1% to EUR 110.4 million in the first six months of the 2019 financial year, compared with EUR 88.9 million in the previous year. On a constant currency basis, this corresponds to growth of 21.7%. This substantial sales growth was driven in particular by higher numbers of systems called up, as well as by increased sales with development and services. System sales benefited both from strong business with established products and from further growth in the sales contributed by systems recently launched onto the market. The increase in sales with development and services, by contrast, was due to the achievement of major development targets.

Adjusted EBIT for the first six months of 2019 rose by 40.4% to EUR 12.7 million, compared with EUR 9.1 million in the previous year. Accordingly, the adjusted EBIT margin improved by 130 basis points to 11.5% (H1/2018: 10.2%). This margin growth was due in particular to positive benefits of scale. In addition, the company also witnessed the first beneficial effects of its earnings improvement initiative launched in 2018. The positive impact on the margin was nevertheless partly offset by higher expenses in connection with the above-average current volume of development activities. Furthermore, the development in the margin was also restrained by the high share of sales attributable to development and services. In this respect, the company expects to achieve a significantly stronger sales mix in the second half of the year.

Given the company’s operating earnings growth, its adjusted consolidated net income from continuing operations also increased by 37.9% to EUR 10.3 million (H1/2018: EUR 7.5 million). Adjusted earnings per share from continuing operations (basic) for the first six months of 2019 rose by 36.5% to EUR 0.86, compared with EUR 0.63 in the previous year.

In the interests of comparability, key earnings figures have been adjusted to exclude amortization resulting from purchase price allocations in the context of acquisitions, associated reorganization expenses, and other non-recurring items. A reconciliation of the adjusted figures with those reported in the consolidated statement of comprehensive income can be found in the Half-Yearly Financial Report H1|2019 also published today.

Due not least to the high volume of development activities performed in recent years, STRATEC expects the 2019 financial year to witness an above-average number of product launches. In the first half of the year, two systems developed by STRATEC together with its partners were already launched onto the market. The market launches of further products are scheduled for the second half of the year. These launches relate both to products developed in cooperation with partners and to proprietary developments in the platform and module business. Work on scaling up and preparing serial production for these new products is advancing as planned.

STRATEC made substantial progress in negotiating new development agreements once again in the first six months of 2019. Not only that, at the AACC (American Association for Clinical Chemistry), the industry’s most important specialist conference held at the beginning of August, STRATEC enjoyed its most successful trade fair performance in years.

The construction work begun in 2018 to significantly expand the building capacities available at the company’s headquarters in Birkenfeld is progressing on schedule. The first building complex newly completed was occupied by employees in May 2019. Completion of the second phase of construction is still scheduled for mid-2020. Once this construction work, which involves adding around 15,000 m² of new surfaces, is finished, significantly more space will be available, particularly for research and development, prototype production, and storage.

Including personnel hired from a temporary employment agency and trainees, the STRATEC Group increased its workforce year-on-year by 6.3% from 1,148 to 1,220 employees as of June 30, 2019. Adjusted to account for the sale of the nucleic acid purification business, this represents organic growth of 8.7%. Given its constantly growing development pipeline, STRATEC expects to require large numbers of additional highly qualified staff in the years ahead as well.

Based on its positive business performance in the first half and the current order forecasts received from its customers, STRATEC confirms the financial guidance issued for the 2019 financial year. STRATEC therefore still expects to generate sales growth adjusted for exchange rate effects of at least 12% in 2019 (basis: EUR 187.8 million) and an adjusted EBIT margin of around 14% to 15% (2018: 13.9%).

Given the construction work underway to significantly expand capacities at its headquarters in Birkenfeld and investments in numerous development projects, STRATEC expects its investment ratio to remain at an above-average level in 2019. The company has budgeted investments in property, plant and equipment and intangible assets corresponding to around 12% to 14% of sales for 2019 (2018: 10.3%). However, the investment ratio will likely decline considerably from 2020 onwards once the construction measures have been completed.

The Half-Yearly Financial Report H1|2019 of STRATEC SE has been published on the company’s website at www.stratec.com/financial_reports.

To mark the publication of our results for the first six month of 2019, we will be holding a conference call in English at 2.00 p.m. (CEST) today, Thursday, August 15, 2019.

You will receive the dial-in data (telephone number, password + individual PIN) following brief registration at the following link: www.stratec.com/registration

The conference call will also be available at the same time as an audio webcast at www.stratec.com/audiowebcast20190815 (brief registration required). Please note that no questions can be submitted via the audio webcast. Clicking this link also enables you to follow or download the slide presentation.

Die STRATEC SE (www.stratec.com) designs, develops and manufactures fully automatic analyzer systems for its partners in clinical diagnostics and biotechnology. The company also offers integrated laboratory software and complex consumables for diagnostic and medical applications. In doing so, the entire value chain is covered, from development, across design and production to quality assurance.

The partners market the systems, software and consumables as system solutions, generally together with their own reagents, to laboratories, blood banks and research institutes around the world. STRATEC develops its products with its own patent-protected technologies.

The shares of the company (ISIN: DE000STRA555) are traded on the Prime Standard of the Frankfurt Stock Exchange.

Jan Keppeler | Investor Relations & Corporate Communications
Tel.: +49 7082 7916-6515
Fax: +49 7082 7916-9190

15.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Gewerbestr. 37
75217 Birkenfeld
Phone: +49 (0)7082 7916 0
Fax: +49 (0)7082 7916 999
E-mail: info@stratec.com
Internet: www.stratec.com
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 857851

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MOLOGEN AG: Funding measures successfully implemented and important operational milestones achieved in H1 2019

DGAP-News: MOLOGEN AG / Key word(s): Half Year Results

14.08.2019 / 19:32

The issuer is solely responsible for the content of this announcement.

Press release N 14 2019 of 14 August 2019

MOLOGEN AG: Funding measures successfully implemented and important operational milestones achieved in H1 2019

– Successful implementation of two capital measures secure funding

– Lefitolimod: Preparatory measures for read-out of the top-line data of the IMPALA pivotal study: Negative findings regarding efficacy announced after reporting period

– EnanDIM(R): Preclinical trials for the first clinical product candidates carried out as planned

– Strategic focus on combination therapies with lefitolimod and EnanDIM(R) in the indications of oncology and HIV/AIDS

– Advanced plans with strategic partner company Oncologie Inc. to conduct a first joint clinical project

– Phase IIa TITAN study in the indication HIV about to start

– Dr med Stefan M. Manth assumed office as CEO on 01 May

Berlin, 14 August 2019 – The biopharmaceutical company MOLOGEN AG (ISIN DE000A2LQ900 / WKN A2LQ90) has advanced its study program according to plan in the first half of 2019 and successfully implemented capital measures to secure funding for the Company. Following a diligent approach to processing the study data for the initial evaluation of the Phase III IMPALA pivotal study with lefitolimod in the indication of metastatic colorectal cancer, the read-out of the top-line data was announced at the beginning of August. The primary study goal – a significant prolongation of overall survival of the patients – was not achieved. The beneficial safety profile and good tolerability of lefitolimod were again confirmed. Based on these results, MOLOGEN’s future strategy will focus on developing combination therapies. In the indication of HIV/AIDS the Phase IIa TITAN combination study, for which Gilead is providing the funding, is about to start enrolling patients. In the indication of oncology, the combination study with the checkpoint inhibitor ipilimumab (Yervoy(R)) is continuing after the dosing escalation phase was successfully concluded. Furthermore, great progress has been made in plans for a clinical combination study with another checkpoint inhibitor. This would be conducted in collaboration with the strategic partner Oncologie Inc., which is based in Boston, USA.

The preclinical program for the first TLR9 agonist from the next-generation EnanDIM(R) technology will shortly be completed. The preparations for production of the investigational drug have advanced according to plan, with the first clinical trials expected to be initiated at the end of 2019.

During the first six months of 2019, there were personnel changes at the level of Executive Board and Supervisory Board: Chief Financial Officer (CFO) Walter Miller left the Company upon expiration of his contract as planned. Dr Faus terminated his contract prematurely and was replaced as Chief Executive Officer (CEO) by Dr med Stefan M. Manth, a long-standing member of the Supervisory Board. Gerhard Greif was legally appointed by a court to fill the vacancy on the Supervisory Board that arose as a result of Dr med Manth’s appointment as CEO until the end of the Annual General Meeting on 29 August 2019.

“The initial evaluation of our phase III IMPALA study, which ultimately delivered a disappointing result, was a key event over the last few months. We had all been hoping for different news. Nevertheless, we can take encouragement from the fact that the biological activity in addition to the exceptional safety profile and good tolerability of lefitolimod were once again proven, allowing us to continue along our chosen path of innovative combination therapies in the area of HIV/AIDS. In the indication of oncological diseases, we will also be focusing exclusively on combination approaches for the first clinical candidates from the EnanDIM(R) family”, Dr med Stefan M. Manth, CEO of MOLOGEN AG, commented.

Top-line data for the IMPALA pivotal study released at the start of August
In the first six months of 2019, MOLOGEN carried out clinical and preclinical studies with the lead product candidate lefitolimod as planned. At the beginning of August, the top-line data for the IMPALA study were published. The study compared the TLR9 agonist lefitolimod with the standard maintenance treatment in patients suffering from metastatic colorectal cancer whose tumors have responded to first-line induction therapy. The primary study goal was not achieved. However, the beneficial safety and tolerability profile of lefitolimod was once again impressively confirmed. It can therefore be claimed that lefitolimod is well suited for use as a partner in combination therapies, which will form the basis of the Company’s future strategic development focus.

Lefitolimod is currently being investigated in a clinical phase I/II study in combination with the checkpoint inhibitor Yervoy(R) (ipilimumab) across a broad spectrum of solid tumors. The study is being carried out at the renowned MD Anderson Cancer Center, Texas, USA. The most recent, encouraging findings on the desired therapeutic immuno-oncological modulation of the TME were presented at the ASCO Congress in Chicago at the beginning of June 2019.

Initial promising data from the preclinical trials with lefitolimod follow-up molecules EnanDIM(R)
With regard to the lefitolimod follow-up molecules EnanDIM(R), MOLOGEN AG published for the first time at the beginning of 2019 a comprehensive profile of the EnanDIM(R) family including molecular design, mechanism of action and preclinical data in the high-ranking, scientifically renowned Journal for ImmunoTherapy of Cancer. The available data supports the assumption that lefitolimod and EnanDIM(R) successfully generate a beneficial modulation of the tumor microenvironment (TME) and, together with a favorable safety profile, could potentially be perfect partners for immuno-oncological combination approaches. An initial candidate from the EnanDIM(R) platform is currently at an advanced stage of preclinical evaluation, with clinical development in the area of oncology due to begin at the end of 2019.

Strategic focus on combination therapies
The IMPALA study marks the end of the development of lefitolimod as an immunological monotherapy treatment for cancer. In light of these results, MOLOGEN will therefore in future place a strategic focus on combination approaches to treat cancer and HIV patients for both lefitolimod and the initial clinical candidates from the EnanDIM(R) family in all current and planned studies. This strategy is also the basis for current licensing and funding efforts.

The phase IIa TITAN combination study in the indication of HIV, which MOLOGEN will carry out together with Aarhus University, Denmark, is about to start enrolling patients. In this study, the TLR9 agonist lefitolimod will be investigated in combination with innovative, virus-neutralizing antibodies developed by Rockefeller University, New York, USA. Moreover, plans for further clinical combination studies in conjunction with a renowned US Center for HIV are at a very advanced stage. Furthermore, two combination studies with other immuno-oncological approaches in solid tumors are also at an advanced stage of planning and could begin in 2019, provided the necessary funding is obtained.

Successful capital measures secure funding
In January, the convertible bond 2019/2027 was placed in full with an issue volume of EUR2.7 million. In April 2019, MOLOGEN also successfully concluded a cash capital increase from authorized capital that was significantly oversubscribed, raising gross proceeds of around EUR4.2 million.

With regard to the previously issued convertible bond 2017/2025, a meeting of creditors on 28 February 2019 approved the agreement reached at the end of October 2018 with the main bond creditor and the associated adjusted bond conditions. The resolutions put forward by the Company were accepted by a large majority.

Lower research and development expenses
Overall, the Company’s financial performance and financial position developed in line with expectations: In the first six months of 2019, revenues of EUR0.1 million were realized (H1 2018: EUR3.0 million). In H1 2019, expenditure for research and development stood at EUR5.0 million and therefore below the value of the previous year (EUR5.6 million). The largest proportion of this expenditure was attributable to costs related to conducting the IMPALA study. The operating result (EBIT) fell to EUR-7.5 million (previous year: EUR-4.5 million), as income from licensing agreements amounting to EUR3.0 million was taken into account in the same period of the previous year. Average monthly cash consumption increased to EUR1.4 million per month (previous year: EUR1.1 million). As of 30 June 2019, the Company’s cash and cash equivalents stood at EUR6.0 million (12/31/2018: EUR8.0 million).

Personnel changes
With effect from 31 March 2019, Dr Ignacio Faus stepped down early as Chief Executive Officer of MOLOGEN, a position he had assumed back in August 2018. On the same date, Chief Financial Officer Walter Miller also ended his term in office on expiration of his contract. Both positions were filled by Dr med Stefan M. Manth as of 01 May 2019, who had been Deputy Chairman of the Supervisory Board of MOLOGEN AG since 2014. The vacancy on the Supervisory Board arising in the wake of Dr med Manth taking up his new position as CEO was filled by attorney Gerhard Greif. He was appointed by the court as new member of the Supervisory Board with effect from 17 June 2019 until the end of the Annual General Meeting on 29 August 2019. In the past, Gerhard Greif has advised the Company in various areas, particularly with regard to approaching investors and capital market funding.

Financial forecast for full year 2019 confirmed
The statements made in the Forecast Report section of Management Report for fiscal year 2018 on the objectives in the areas of research and development, co-operations and partnerships, earnings and liquidity development as well as personnel (cf. Annual Report 2018, page 56 et. seq) remain valid, although it is important to underline that the top-line data pertaining to the IMPALA study published at the beginning of August – above all the failure to demonstrate the superiority of lefitolimod as a monotherapy over standard treatment approaches for metastatic colorectal cancer – will have a substantial influence on the Company’s further corporate and development strategy.

MOLOGEN AG’s complete 2019 half-year report is available on the Company’s website at: www.mologen.com.

MOLOGEN AG is a German biopharmaceutical Company and a pioneer in the field of immunotherapy on account of its unique active agents and technologies. Alongside a focus on immuno-oncology, MOLOGEN develops immunotherapies for the treatment of HIV and infectious diseases.

The focus of MOLOGEN’s development is on DNA-based TLR9 agonists, where it has consistently been ahead of the course. This includes the lead compound, the immunotherapy lefitolimod, and its next generation molecules EnanDIM(R), building the foundation for a next generation immunotherapy platform in areas of unmet need.

Forthcoming milestones include: the start of the TITAN study in HIV, the start of the clinical development of EnanDIM(R) and additional combination studies in cancer, including one with our strategic partner Oncologie Inc., which are in an advanced planning stage.

MOLOGEN AG is a publicly listed Company, headquartered in Berlin. The shares (ISIN, DE000A2LQ900/SIN: A2L Q90) are listed in the Prime Standard of the German Stock Exchange.


Claudia Nickolaus
Head of Investor Relations & Corporate Communications
Tel: +49 – 30 – 84 17 88 – 37
Fax: +49 – 30 – 84 17 88 – 50

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 indicators, 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.

14.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Fabeckstraße 30
14195 Berlin
Phone: 030 / 841788-0
Fax: 030 / 841788-50
E-mail: presse@mologen.com
Internet: www.mologen.com
ISIN: DE000A2LQ900
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 857801

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