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MOLOGEN AG: 2013 annual financial statements submitted - pivotal study for MGN1703 under preparation

DGAP-News: MOLOGEN AG / Key word(s): Final Results
MOLOGEN AG: 2013 annual financial statements submitted - pivotal study
for MGN1703 under preparation

25.03.2014 / 08:00

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MOLOGEN AG: 2013 annual financial statements submitted - pivotal study for
MGN1703 under preparation

- For the first time three product candidates in clinical development
phase

- Final evaluations of the clinical trials provide positive data

- Cash consumption at level of previous year despite increased research
activity

- Clinical phase III study for cancer immunotherapy MGN1703 is being
prepared

Berlin, March 25, 2014 - MOLOGEN AG completed a successful financial year
2013 with three different product candidates in clinical development for
the first time. The final evaluations for the completed clinical trials of
MGN1703 and MGN1601 provided very positive data, and with MGN1404 (a
product that combats malignant melanoma) the clinical development phase of
another product candidate was launched within the framework of a
cooperation and is therefore contributing to an expansion of the pipeline.

The company closed the financial year 2013 with a net loss of 10.8 million
euros, 7.9 million euros of which accounted for research and development
costs. On the reporting date as of December 31, 2013, MOLOGEN AG had liquid
funds in the total amount of 14.8 million euros. An additional 15.7 million
euros could be raised with the capital increase carried out in February
2014. MOLOGEN's financial position is therefore solid in terms of the
planned research projects.

Research results confirm the potential of products - pivotal study being
prepared
After launching a clinical phase I study in October 2013 in cooperation
with institutions of the Charité Universitätsmedizin and the Max Delbrück
Center, MOLOGEN's pipeline now contains three product candidates in
clinical development in the field of cancer immunotherapies: MGN1703,
MGN1601 and new MGN1404. While MGN1404 is currently being tested in the
malignant melanoma indication, the final evaluations of the completed
clinical trials of MGN1601 and MGN1703 could be presented in financial year
2013.

MOLOGEN was able to confirm the preliminary data collected from the phase
I/II trials with MGN1601 in the indication of renal cancer (ASET study).
The results showed a good safety and tolerability for this therapeutic
cancer vaccine, meaning that the primary study endpoint was achieved. In
addition, the promising data in terms of the overall survival of patients
in a subgroup exceeded the expectations.