DGAP-News
MOLOGEN completes portfolio review: shift from research to product- and market-oriented company
DGAP-News: MOLOGEN AG / Key word(s): Strategic Company Decision
MOLOGEN completes portfolio review: shift from research to product- and
market-oriented company
09.06.2016 / 11:38
The issuer is solely responsible for the content of this announcement.
MOLOGEN completes portfolio review: shift from research to product- and
market-oriented company
09.06.2016 / 11:38
The issuer is solely responsible for the content of this announcement.
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Press Release N 8 / 2016 of 06/09/2016
MOLOGEN completes portfolio review: shift from research to product- and
market-oriented company
- "Next Level" of corporate development: strategy program with strong
product and market orientation on key projects
- Focus on lead product lefitolimod (MGN1703) and next-generation
technology EnanDIM(R)
- Streamlining of company organization
- Commercialization activities to be stepped up via out-licensing
Berlin, 9 June 2016 - Today, Berlin-based biotechnology company MOLOGEN
(ISIN DE0006637200; Frankfurter Stock Exchange Prime Standard: MGN)
presented its "Next Level" program which is based on a strategic portfolio
review and envisages greater product and market orientation. The
realignment and associated further development of the company's
organization structure is intended to help MOLOGEN reach the next level of
its development from a research-focused biotech company toward a product
oriented one. The company will be focused more strongly than before on
products which are no longer at the basic research stage and are already
closer to reaching the market. The strategy program includes a
concentration of the further development activities centered on the lead
product, the cancer immunotherapy lefitolimod and next-generation molecules
EnanDIM(R), along with an acceleration of the commercialization of these
products.
In contrast, MOLOGEN plans to shelve any further development of the
compound MGN1601, a cell-based therapeutic vaccine against renal cancer,
for the time being. In the event of lefitolimod products or the entire
lefitolimod product group being successfully out-licensed, MGN1601 would be
a suitable foundation from which to continue the business model based on an
attractive next-generation clinical product which has moved beyond the
basic research stage. The non-viral vector system MIDGE(R) is to be sold or
spun off, along with the corresponding compounds.
In addition, the new strategy includes the adjustment of the organization
structures to the company's new stage of development. In particular,
preconditions for a potential market entry will be created, initially of
the lead product lefitolimod. These include, for example, ensuring
sufficient production capacity by outsourcing production to subcontractors
and consequently closing internal production capacity. In view of the
Press Release N 8 / 2016 of 06/09/2016
MOLOGEN completes portfolio review: shift from research to product- and
market-oriented company
- "Next Level" of corporate development: strategy program with strong
product and market orientation on key projects
- Focus on lead product lefitolimod (MGN1703) and next-generation
technology EnanDIM(R)
- Streamlining of company organization
- Commercialization activities to be stepped up via out-licensing
Berlin, 9 June 2016 - Today, Berlin-based biotechnology company MOLOGEN
(ISIN DE0006637200; Frankfurter Stock Exchange Prime Standard: MGN)
presented its "Next Level" program which is based on a strategic portfolio
review and envisages greater product and market orientation. The
realignment and associated further development of the company's
organization structure is intended to help MOLOGEN reach the next level of
its development from a research-focused biotech company toward a product
oriented one. The company will be focused more strongly than before on
products which are no longer at the basic research stage and are already
closer to reaching the market. The strategy program includes a
concentration of the further development activities centered on the lead
product, the cancer immunotherapy lefitolimod and next-generation molecules
EnanDIM(R), along with an acceleration of the commercialization of these
products.
In contrast, MOLOGEN plans to shelve any further development of the
compound MGN1601, a cell-based therapeutic vaccine against renal cancer,
for the time being. In the event of lefitolimod products or the entire
lefitolimod product group being successfully out-licensed, MGN1601 would be
a suitable foundation from which to continue the business model based on an
attractive next-generation clinical product which has moved beyond the
basic research stage. The non-viral vector system MIDGE(R) is to be sold or
spun off, along with the corresponding compounds.
In addition, the new strategy includes the adjustment of the organization
structures to the company's new stage of development. In particular,
preconditions for a potential market entry will be created, initially of
the lead product lefitolimod. These include, for example, ensuring
sufficient production capacity by outsourcing production to subcontractors
and consequently closing internal production capacity. In view of the
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