Martinsried/Munich, 29 July 2013. Medigene AG (MDG, Frankfurt, Prime Standard) announces that Will-Pharma has launched the drug Veregen® for the treatment of genital warts in the Netherlands. Within the scope of the license agreement, Medigene will receive a percentage share in the double-digit range of the sales revenue achieved with Veregen®, and will additionally receive sales milestone payments.
Dr. Frank Mathias, Chief Executive Officer of Medigene AG, comments: "With the launch of Veregen® in the Netherlands, we are opening another significant European market. We are glad being in a position to provide patients suffering from this extremely onerous sexually transmitted disease with our ointment as a treatment option. We expect further increasing revenue from this drug which is now marketed in seven countries in and outside Europe."
Veregen® is being marketed in the USA (by Fougera), in Germany, Austria and Switzerland (by Abbott), in Spain (by Bial) as well as in Serbia (by Pharmanova), and approved in further countries. Market approvals and the launch in additional countries are pending in 2013. Medigene has entered into several marketing partnerships for Veregen® across Europe, Asia, and America, and is planning to continue this global licensing strategy to further leverage the product's market potential.
About Veregen®: Veregen®, an ointment used in the topical treatment of external genital warts, contains a catechin concentrate based on a defined extract obtained from green tea leaves. Since 2010, Veregen® (Sinecatechins 15% ointment) has been recommended in the US Department of Health and Human Services Center for Disease Control and Prevention's Sexually Transmitted Diseases Treatment Guidelines as a possible option for treating genital warts. Sinecatechins 10% & 15% ointment (Veregen®) was recently also included in the European Guideline for the Management of Anogenital Warts.
About Will-Pharma: Will-Pharma markets and promotes its own ethical products, food supplements and medical devices through its well trained sales force. With its head offices in the three countries of Benelux, Will-Pharma has more than 85 years of experience in the development and sale of drugs, medical devices, and food supplements. Moreover, Will-Pharma has a long standing distribution agreement with Daiichi-Sankyo. More information on Will-Pharma: www.willpharma.com.
Medigene AG (Frankfurt: MDG, Prime Standard) is a publicly listed biotech company headquartered in Martinsried/Munich, Germany. Medigene focuses on clinical research and development of novel drugs against cancer and autoimmune diseases. Medigene is the first German biotech company to generate revenues from a marketed product (Veregen®), which is distributed by partner companies. Medigene also has two drug candidates undergoing clinical trials, EndoTAG®-1 und RhuDex®, and is developing an innovative vaccine technology. For further details, please visit www.medigene.com
This press release contains forward-looking statements representing the opinion of Medigene as of the date of this release. The actual results achieved by Medigene may differ significantly from the forward-looking statements made herein. Medigene is not bound to update any of these forward-looking statements. Medigene® and Veregen® are registered trademarks of Medigene AG. Polyphenon E® is a trademark of Mitsui Norin Co., Ltd. These trademarks may be owned or licensed in select locations only.
Julia Hofmann, Claudia Burmester
Investor & Public Relations
Tel.: +49 - 89 - 20 00 33 - 33 01
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