Medigene secures funding for its cancer immunotherapy programmes through capital increase

Medigene AG / Medigene secures funding for its cancer immunotherapy programmes through capital increase . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

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• Placement of all available new shares close to the current market price
• Participation of new renowned institutional investors
• Extension of cash reach at least until end of 2016

Martinsried/Munich, 15 July 2014. Medigene AG (MDG1, Frankfurt, Prime Standard) completed the capital increase announced on 27 June 2014 for the funding of its cancer immunotherapy programmes. Gross proceeds of EUR 15.9 million were achieved by placing the maximum number of new shares and the issuance of convertible bonds. With that, the Company's cash reach will be extended at least until the end of 2016. A total of 3,016,082 new shares at a price of EUR 5.00 per share and convertible bonds divided into 818,658 notes in the nominal amount of EUR 1.00 per note were placed with existing Medigene shareholders and mainly new institutional investors. The offering of new shares was oversubscribed. With the capital increase, Medigene made full use of its remaining authorised capital currently available. 

Dr Frank Mathias, Chief Executive Officer of Medigene AG: "This capital measure enables us to achieve important milestones in the clinical validation of the T-cell based therapy platforms acquired with Trianta and enhances our new positioning in cancer immunotherapy. Medigene is now well placed to develop valuable new therapeutic approaches to life-threatening cancers which are difficult to treat, while creating attractive options for cooperation and licensing agreements with partner companies in the pharmaceutical and biotechnology sector."

Peter Llewellyn-Davies, Chief Financial Officer of Medigene AG: "Medigene has successfully placed the new shares close to the current market price without discount and with minimal possible dilution. We have also achieved our goal of gaining new renowned institutional investors for Medigene from Europe and the US, including leading biotechnology specialist investors. With its first larger cash capital increase since 2007, Medigene has secured the capital necessary to successfully implement our upcoming objectives and to generate clinical data with our immunotherapy programs over the next few years."