DGAP-News: MOLOGEN AG / Key word(s): AGM/EGM
30.08.2019 / 09:41
The issuer is solely responsible for the content of this announcement.
Press release N 16 / 2019 of 30 August 2019
MOLOGEN AG: Executive Board presents future strategy to shareholders; shareholders elect new Supervisory Board member and adopt new Authorized and Conditional Capital
Berlin, 30 August 2019 – The biopharmaceutical company MOLOGEN AG (ISIN DE000A2LQ900 / SIN A2LQ90) held its Annual General Meeting for fiscal year 2018 in Berlin yesterday. During the Annual General Meeting, the Executive Board presented the central points of the new corporate strategy to the shareholders present along with the planned restructuring measures, which will lead to a substantial reduction in operating costs. The Company will concentrate its future efforts on combination approaches for lefitolimod as well as for the successor technology EnanDIM(R) in the therapeutic areas of cancer and HIV. In addition to the ongoing clinical phase I study at the renowned MD Anderson Cancer Center, Texas/USA, combining lefitolimod with the checkpoint inhibitor Yervoy(R) (ipilimumab), the first patients will be dosed in the phase IIa combination TITAN study in HIV shortly. Furthermore, plans for additional clinical combination studies in collaboration with renowned HIV centers in the USA have made significant advances. Moreover, in the course of the strategic alliance with US-American biotechnology company Oncology Inc., a further phase II study with lefitolimod in combination with a checkpoint inhibitor is in an advanced planning stage.
“We are delighted with this confirmation of trust and confidence of our shareholders in these times of the restructuring program and strategic refocusing of the Company and we are grateful for the discernible support. The financing measures, which thereby have been made possible, will allow us to advance our TLR9 agonists in the indications cancer and HIV/AIDS in the framework of the new corporate strategy”, says Dr med Stefan Manth, CEO of MOLOGEN AG.
The resolutions adopted at the Annual General Meeting included the election of Dr Friederike Zahm as a new member of the Supervisory Board. Dr Zahm is a registered pharmacist and has accumulated a great deal of management experience in the fields of pharmaceutical development and approval, product strategy and life-cycle management as well as licensing in the field of biotechnology. She acquired her industry-specific expertise and experience with a global pharmaceuticals group and as a member of the Supervisory Board of a mid-sized Clinical Research Organization (CRO). At present, she is working as a consultant in the fields of pharmaceuticals and biotech and as a lecturer in the faculty of pharmacy at Freiburg University.
Furthermore, a resolution was adopted to create new Authorized and Conditional Capital as well as the authorization to issue convertible and/or option bonds. These resolutions will provide the Company with additional flexibility for various financing options.
MOLOGEN intends to initially cover its future financing requirements via its Authorized Capital. Accordingly, in the coming months, subject to market conditions as well as the applicable requirements under prospectus laws, a cash capital increase is to be carried out from Authorized Capital.
The focus of MOLOGEN’s development is on DNA-based TLR9 agonists. 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.
30.08.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Phone:||030 / 841788-0|
|Fax:||030 / 841788-50|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||866079|
|End of News||DGAP News Service|