DGAP-News
MOLOGEN AG: New strategic orientation, successful capital measures and notable study progress in 2016
DGAP-News: MOLOGEN AG / Key word(s): Final Results MOLOGEN AG: New strategic orientation, successful capital measures and notable study progress in 2016 |
- Ongoing implementation of the new "Next Level" corporate strategy
- Funding secured until the start of 2018 through capital measures
- Lead product lefitolimod: significant milestones reached
- Changes to Executive Board
- Confident forecast for 2017
Berlin, 22 March 2017 - MOLOGEN AG (ISIN DE0006637200; Frankfurt Stock Exchange Prime Standard: MGN) had an eventful and positive fiscal year 2016. Almost all key milestones were reached in the
last financial year. The main focus was on developing and implementing the new "Next Level" corporate strategy, with its clear concentration on the further development of the lead product
candidate, the immunotherapy lefitolimod. All four current studies with lefitolimod have reported good progress. In particular, initial positive results were presented for the TEACH study in the
indication human immunodeficiency virus (HIV). In addition, the first combination study of lefitolimod with another immunotherapeutic agent started in the reporting period. As expected, the study
advancements resulted in a slight increase in expenditure in the area of research and development.
MOLOGEN secured the future funding - for both the company's new alignment and the continuation of studies with lefitolimod and the follow-up molecules EnanDIM(R) - through two successfully completed capital measures, with the capital increase and the convertible bond generating gross proceeds of EUR16.1 million in total.
Over the past financial year, there were two changes on the Executive Board of MOLOGEN AG: since 1 April 2016, Walter Miller has been the new Chief Financial Officer (CFO) of MOLOGEN AG. On 31 March 2016, the Chief Medical Officer (CMO) Dr. Alfredo Zurlo left the company. He is being succeeded by Dr. Matthias Baumann, who will start in his new position on 1 May 2017.