Ad hoc: Medigene announces issuance and number of new shares to settle milestone payment for start of phase II trial with DC vaccines

Martinsried/Munich, 10 May 2016. The Executive Management Board of Medigene AG (MDG1, Frankfurt, Prime Standard) today resolved, with the approval of the Company's Supervisory Board, that the milestone payment in the value of approximately 3.2 m EUR announced on 1 April 2016 for the achievement of a clinical milestone with its dendritic cell (DC) vaccine will be settled through the issuance of 392,875 new shares from authorized capital as part of a capital increase through contributions in kind. Thereby, the company will increase its share capital of 19,688,960.00 EUR up to 20,081,835.00 EUR.  

As announced on 1 April 2016, the milestone was achieved with the initiation of the Phase II part of Medigene's clinical Phase I/II trial with DC vaccines in acute myeloid leukaemia (AML). The milestone payment to former contributing shareholders of Medigene Immunotherapies GmbH (formerly: Trianta Immunotherapies GmbH) was a part of the purchase price agreed in the acquisition of Trianta in January 2014. 

The number of these new shares was calculated on the basis of the volume-weighted average price (VWAP) of Medigene shares in the 30-day period prior to and the 30-day period from 1 April 2016 being the date on which the achievement of the milestone was announced. The calculated VWAP is approx. EUR 8.08. The new shares will be listed at German Stock Exchange under the WKN A2BPWQ (ISIN: DE000A2BPWQ0) following their registration at the commercial register which is expected on 17 May 2016. Following the Company's annual general meeting scheduled on 11 August 2016, the new shares will be included in the Company's current listing with WKN A1X 3W0 (ISIN: DE000A1X3W00). The subscribers of the new shares agreed to a lockup period of 14 months.

Contact Medigene AG
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Tel.: +49 - 89 - 20 00 33 - 33 01