Martinsried/Munich, April 16, 2013. Medigene AG (MDG, Frankfurt, Prime Standard) announces that the company's marketing partner, Pharmanova d.o.o., will begin commercializing Veregen® for the treatment of genital warts in Serbia on April 19, 2013. Serbia will be the fifth European country where Veregen® is available, in addition to Germany, Austria, Switzerland, and Spain. Veregen® is also available in the USA.
Pursuant to the agreement between Medigene and Pharmamova, Medigene received a milestone payment upon marketing approval of the drug and is entitled to future sales milestone payments. Moreover, Medigene will receive a double-digit percentage of the Veregen® sales revenue as royalties and will generate further income from the sale of finished product supply to Pharmanova.
The market launch of Veregen® in Serbia will take place during a conference on sexually transmitted diseases (with special reference on HPV infections) that has been organized by Pharmanova in Belgrade on April 19, 2013. During this symposium, a number of renowned experts in the fields of dermatology and gynecology will give lectures in front of a large audience of practitioners and press representatives.
There are several market approvals and product launches of Veregen® in additional countries expected in 2013. Medigene has entered into several Veregen® marketing partnerships 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 Pharmanova: Pharmanova is a privately owned Serbian pharmaceutical company, with annual sales of over three million packages. Pharmanova is one of the biggest producers of herbal medicines and reputable drugs and dietary products in Serbia, and employs over 170 people. Pharmanova is seeking to leverage its leading position in Serbia, and to expand into new markets, with the addition of Veregen® ointment to its product portfolio. For further information about Pharmanova please visit www.pharmanova.com
Medigene AG (Frankfurt: MDG, prime standard) is a publicly listed biotechnology 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 have revenues from a marketed product (Veregen®), which is distributed by partner companies. Medigene has two drug candidates in clinical trials, EndoTAG®-1 and RhuDex®, and is developing an innovative vaccine technology. For more information, 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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