PRESS RELEASE N 2 / 2018 of 01/02/2018
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MOLOGEN AG resolved second capital increase for the execution of the Share Subscription Facility concluded in October 2017
Berlin, 01 February 2018 - The Executive Board of biopharmaceutical company MOLOGEN AG (ISIN DE0006637200, SIN 663720) resolved, with the approval of the Supervisory Board, an increase of the share capital against contribution in cash without subscription rights for shareholders on the basis of the authorized capital, based on the Share Subscription Facility with the US investor Global Corporate Finance (GCF) announced on 24 October 2017. The Company's share capital is increased from EUR 34,570,755 to EUR 34,770,755 through the issuance of 200.000 new non-par value ordinary bearer shares. The new shares were privately placed with the US investor GCF, as before in the course of the first exercise in December 2017.. The price is EUR 2,225 per new share.. Through this second exercise MOLOGEN received gross proceeds of EUR 445,000 and including the first exercise an amount of EUR 1,049,250 in total in accordance with the agreed Share Subscription Agreement with GCF.
As announced in the ad-hoc notification on 24 October 2017 and 18 December 2017, MOLOGEN will further on exercise its right towards the investor GCF from the agreed Share Subscription Facility and issue further draw-down notices within the upcoming months limited to the total amount of outstanding shares of 2,919,725.
This announcement is not an offer of securities for sale in the United States, Australia, Canada, Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to in this press release have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offering of the securities in the United States of America. Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan.
MOLOGEN AG is a biopharmaceutical company and considered a pioneer in the field of immunotherapy on account of its unique active agents and technologies. Alongside a focus on immuno-oncology, MOLOGEN develops immunotherapies for the treatment of infectious diseases.
The immunotherapy lefitolimod (MGN1703) is the company's lead product and is regarded as the best-in-class TLR9 agonist. Treatment with lefitolimod triggers a broad and strong activation of the immune system. On account of this action mechanism, lefitolimod is an immune surveillance reactivator (ISR) and could potentially be used in various indications. The ISR lefitolimod is currently being developed within the framework of a pivotal study for first line maintenance therapy for colorectal cancer. Key data of the phase II IMPULSE study in small cell lung cancer have been announced in April 2017. Detailed analyses of IMPULSE data and data from the extension phase of the TEACH study in HIV, published in August, are currently being conducted. In addition, lefitolimod is currently being investigated in a phase I combination study with the checkpoint inhibitor ipilimumab (Yervoy(R)) in various cancer indications. Along with various checkpoint inhibitors, lefitolimod, which is being investigated as part of a phase III clinical trial currently, is one of the few near-to-market product candidates in the field of immuno-oncology.
MOLOGEN's pipeline focus is on new innovative immunotherapies to treat diseases for which there is a great medical demand in particular.
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Certain statements in this communication contain formulations or terms referring to the future or future developments, as well as negations of such formulations or terms, or similar terminology. These are described as forward-looking statements. In addition, all information in this communication regarding planned or future results of business segments, financial indicators, developments of the financial situation or other financial or statistical data contains such forward-looking statements. The company cautions prospective investors not to rely on such forward-looking statements as certain prognoses of actual future events and developments. The company is neither responsible nor liable for these forward-looking statements. It is not responsible for updating such information, which only represents the state of affairs on the day of publication.
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