Martinsried/Munich, 11 May 2015. Biotechnology company Medigene AG (MDG1, Frankfurt, Prime Standard) has announced that the progress achieved in its recently initiated clinical phase I/II trial with dendritic cell (DC) vaccines for the treatment of acute myeloid leukaemia (AML) gives rise to a milestone payment amounting to EUR 700,000 to former contributing shareholders of Medigene Immunotherapies GmbH (formerly: Trianta Immunotherapies GmbH) to be made within the next five months. Medigene intends to settle this payment through the issuance of new shares from authorised capital. The number of new shares will be calculated based on the average value of Medigene's share price over the 30 days both before and from today's announcement. The milestone payment was an agreed part of the purchase price in the acquisition of Trianta in January 2014.
Medigene's phase I/II multi-centre, open-label trial will include a total of 20 AML patients after completion of standard chemotherapy to reduce the risk of recurrence of leukaemia by using Medigene's DC vaccines. To date, the first patients have been enrolled and a number of additional patients have been identified for inclusion in the trial.
Julia Hofmann, Anja Clausnitzer
Tel.: +49 - 89 - 20 00 33 - 33 01