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Medigene AG: Medigene AG secures over EUR 46mn from capital increase to finance its cancer immunotherapy programmes

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Press release

 

Medigene AG secures over EUR 46mn from capital increase to finance its cancer immunotherapy programmes

  • Placement of all offered new shares
  • Participation of new renowned institutional investors from USA and Europe, including a leading US-based sector specialist as cornerstone investor
  • Acceleration of DC vaccine & TCR clinical development programmes

Martinsried/Munich, 30 June 2015. Medigene AG (MDG1, Frankfurt, Prime Standard) completed the capital increase announced on 12 June 2015 for the funding of its cancer immunotherapy programmes, achieving gross proceeds of approximately EUR 46.4 million by placing the maximum number of 5,594,178 new offered shares to existing shareholders and selected new institutional investors for the subscription and placement price of EUR 8.30. Gross proceeds from the placement exceeded the Company's targeted EUR 40 million raise by over 15%. The rump placement was oversubscribed. A US-based specialist institutional investor participated as the cornerstone investor in the transaction and as a new investor in Medigene AG.

Dr Frank Mathias, Chief Executive Officer of Medigene AG: "With this capital measure which was successfully completed despite a difficult European market environment we are now well-positioned to further advance our cancer immunotherapy programmes into decisive new stages of development. We plan to deliver final clinical data from the current phase I/II trial with our DC vaccines, initiate up to three clinical trials with our TCR programme and develop up to 10 TCR lead candidates thereby extending and accelerating the clinical development of our T cell based therapies. We feel encouraged by having gained new and leading international biotech investors for our goals and are highly motivated to make our promising cancer therapies usable for patients."

By issuing 5,594,178 new shares from authorised capital, the share capital of Medigene AG increases by EUR 5,594,178.00 from EUR 14,051,815.00 to EUR 19,645,993.00. The gross proceeds generated from the issuing of new shares amounts to EUR 46,431,677. The new shares are scheduled to be admitted to trading from 6 July up to 13 August with ISIN DE000A161NA3, securities identification number WKN A161NA and stock exchange symbol MDGJ. From 14 August 2015 on, the new shares will have the same ISIN, securities identification number (WKN) and stock exchange symbol as the existing Medigene shares (ISIN: DE000A1X3W00, WKN: A1X 3W0, MDG1).

Baader Bank AG acted as sole global coordinator and sole bookrunner. Trout Capital LLC acted as the US selling agent.

About Medigene's Immunotherapies: Medigene is working on three complementary immunotherapy strategies for the treatment of different forms and stages of cancer with focus on T-cells which play a central role in the immune system. The Company is developing new generation antigen-tailored dendritic cell vaccines (DCs), T-cell receptor-based adoptive T-cell therapies and T-cell-specific monoclonal antibodies (TABs).

The DC vaccines are currently being evaluated in a company-sponsored clinical trial in acute myeloid leukaemia (AML). Further studies utilizing Medigene's DC vaccine technologies include two ongoing clinical investigator-initiated trials (IITs), a clinical phase II trial (prostate cancer) at Oslo University Hospital and a clinical phase I/II trial (AML) at the Ludwig-Maximilians University Hospital Großhadern, Munich, as well as a compassionate use programme[1] including patients with diverse malignancies.

For the TCR platform, the activities are focused on the preparation of the first clinical trial with TCR product candidates and on the further development of a GMP compliant production process. In addition, novel TCRs with specificities for promising tumour-associated antigens will be isolated and further characterised. Medigene plans to participate in an academic Phase I trial for the treatment of haematological malignancies which is projected to commence in the first half of 2016, subject to grant funding.

Regarding Medigene's TABs platform, proof of technology was established in preclinical experiments. Further preclinical development continues with the aim of achieving proof of principle.

More information, as well as audio visual aids about Medigene's immunotherapies, can be found at www.medigene.com/

Medigene AG is a publicly listed (Frankfurt: MDG1, prime standard) biotechnology company headquartered in Martinsried near Munich, Germany. Medigene concentrates on the development of personalized T cell immunotherapies with a focus on haematological malignancies. Medigene is the first German biotech company to have revenues from a marketed product, which is distributed by commercial partner companies. Medigene has advanced drug candidates which are licensed to partners and additional candidates in clinical development. The company is developing highly innovative treatment platforms concentrating on cancer and autoimmune diseases. For more information, please visit www.medigene.com.

Note: These materials do not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in the United States, Germany or any other jurisdiction.  The shares (the "Shares") of Medigene AG (the "Company") may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register any portion of the offering in the United States or to conduct a public offering of Shares in the Company in the United States.

This publication constitutes neither an offer to sell nor a solicitation to buy securities. The offer will be made solely by means of, and on the basis of, a securities prospectus which has been published. The securities prospectus is available free of charge from Medigene AG, Lochhamer Strasse 11, 82152 Planegg/Martinsried, Germany, as well as on the Medigene AG website under 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® is a registered trademark of Medigene AG. Medigene ImmunotherapiesTM and Trianta ImmunotherapiesTM are registered trademarks of Medigene Immunotherapies GmbH. These trademarks may be owned or licensed in select locations only.

Contact

Medigene AG
Julia Hofmann, Anja Clausnitzer
Tel.: +49 - 89 - 20 00 33 - 33 01
Email: investor@medigene.com

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[1] Compassionate Use: Prescription of as-yet unapproved drugs in particularly severe cases where there are no treatment alternatives