DGAP-News

MOLOGEN AG presents nine month result: Focus on implementation of 'Next Level' strategy following successful capital increase

DGAP-News: MOLOGEN AG / Key word(s): 9-month figures
MOLOGEN AG presents nine month result: Focus on implementation of 'Next
Level' strategy following successful capital increase

07.11.2016 / 07:09
The issuer is solely responsible for the content of this announcement.

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PRESS RELEASE N 17 / 2016 of 11/7/2016

MOLOGEN AG presents nine month result: Focus on implementation of "Next
Level" strategy following successful capital increase

- Capital increase and convertible bond with gross proceeds of presumably
EUR 16.1 million

- Further implementation of the "Next Level" corporate strategy

- Advancement of the four clinical studies with the lead product
lefitolimod (MGN1703)

- Progress in these trials affects financial result

- Outlook unchanged for full-year 2016

- First anti-tumor data of the TLR9 agonist EnanDIM(R) in a murine model


Berlin, 7 November 2016 - Today, biotechnology company MOLOGEN (ISIN
DE0006637200; Frankfurter Stock Exchange Prime Standard: MGN) presented its
result for the first nine months of the current financial year. During the
third quarter, the focus was above all on the further implementation of the
new "Next Level" corporate strategy announced in June 2016 and therefore
also the further development of the lead product lefitolimod (MGN1703) in
the four ongoing clinical studies. This resulted in higher operating
expenses with a slight increase of costs, especially for the clinical
development. The capital increase, which was significantly oversubscribed,
was completed with gross proceeds amounting to EUR13.6 million in October
2016. Together with the convertible bond with a volume of EUR2.5 million,
which is to be issued in November 2016, financing of the company has been
secured presumably until the fourth quarter of 2017. MOLOGEN presented
first preliminary data on its EnanDIM(R)-technology in a murine tumor model
at a scientific congress in September in New York, US..

Dr. Mariola Söhngen, CEO of MOLOGEN AG: "Since the beginning of the year we
have achieved significant milestones - both strategic and at development
and financing level. With our new "Next Level" strategy, we pursue a
clearly defined objective: the focus on our lead product lefitolimod and
preparing for a potential market entry. In this regard, additional key
advances were made in the ongoing clinical studies. Moreover, the capital
measures were very successfully concluded. As a result we will therefore be
presumably financed up to the fourth quarter 2017."

Further implementation of the new "Next Level" corporate strategy