Medigene announces management changes

Martinsried/Munich, 17 March 2016. Medigene AG (MDG1, Frankfurt, Prime Standard) announced today that the Company's CFO, Peter Llewellyn-Davies, after more than three years of successful management board activity, will leave the Company at his own request by 31st March 2016 to pursue new business challenges. 

During his tenure at Medigene Mr. Llewellyn-Davies significantly contributed to the streamlining of the product portfolio and repositioning of the Company towards cancer immunotherapy. Moreover, Peter secured financing for the new corporate strategy through several successful fund raisings with participation of renowned international investors.

The Chairman of the Supervisory Board of Medigene AG, Prof. Horst Domdey, stated: "On behalf of the Supervisory Board I want to thank Peter Llewellyn-Davies for his valuable contributions over the past years. We appreciate his excellent performance in the reorganization and financing of Medigene. Peter has leveraged effectively his international experience and capital market expertise for the executive team and helped advance the Company decisively in this important phase. After the successful completion of this crucial business development stage Peter hands over his responsibilities in excellent order. We will stay in touch with him and look forward to further exchanges."

Prof. Dolores Schendel, CEO of Medigene AG, added: "I also want to thank Peter on behalf of the Executive Board and to express my personal appreciation for the outstanding performance and the cooperation over the past years. Medigene went through an important transformation and Peter had a crucial role in this successful process. He leaves the Company in a very sound financial position which will support the continued development of Medigene AG in the field of immunotherapy."

Medigene AG is a publicly listed (Frankfurt: MDG1, prime standard) biotechnology company headquartered in Martinsried near Munich, Germany. The company is developing highly innovative, complementary treatment platforms to target various types and stages of cancer with candidates in clinical and pre-clinical development.  Medigene concentrates on the development of personalized T cell-based immunotherapies.

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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 EndoTAG® are registered trademarks of Medigene AG. These trademarks may be owned or licensed in select locations only.

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