DGAP-News

MOLOGEN AG: Successful financing and continuation of clinical studies with the lead product lefitolimod in the first quarter 2017 - Seite 2

The company's primary objectives remain the preparation of a possible market launch of lefitolimod and to find the right partner for its licensing and marketing. In this regard, MOLOGEN has already undertaken various preparatory activities, including the planned outsourcing of production to contract manufacturer and upscaling production to the market standard.

Dr Matthias Baumann has been the Chief Medical Officer of MOLOGEN AG since 1 May 2017.

MOLOGEN secured the necessary financial resources - both for the implementation of the corporate strategy and for the continuation of the clinical trials with lefitolimod and the follow-up molecules EnanDIM^(R) - by successfully completing two capital measures in 2016. As a result, the company generated total gross proceeds of EUR16.1 million. In January 2017, MOLOGEN placed a further convertible bond, which resulted in an additional cash inflow of just below EUR5 million.

Dr Mariola Soehngen, Chief Executive Officer (CEO) of MOLOGEN AG, comments: "We are delighted to maintain last year's positive trend in our Company development over the first months of fiscal year 2017. We not only reached further important milestones in our clinical trial with the lead compound lefitolimod and secured our funding presumably until 2018, but have also taken a number of significant steps towards the potential out-licensing of lefitolimod. In particular, we have rigorously continued to pursue our partnering activities in the first quarter of 2017. To this end, our management team has visited international partnering conferences in Asia, Europe and the U.S. and held discussions with potential partners. We are also particularly pleased to have gained an extremely competent new Executive Board member in Dr Matthias Baumann, who will support us with his profound expertise as we effectively further develop lefitolimod."

Key milestones reached in clinical studies

Patient recruitment for the phase III IMPALA pivotal study was further advanced in the first quarter of 2017 and is expected to be concluded in the first half of 2017. The evaluation of the study is expected to begin around two years after the end of patient enrollment, depending on the actual survival rates of the patients in this study.