DGAP-News: MOLOGEN AG / Key word(s): Corporate Action
Press release N 7 / 2019 of 2 April 2019
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MOLOGEN AG: Successful completion of capital increase with substantial oversubscription
- Placement of around 2 million new shares - Order book considerably oversubscribed
- Gross proceeds of around EUR4.2 million
Berlin, 2 April 2019 - The biopharmaceutical company MOLOGEN AG has successfully completed its capital increase from authorized capital. In total 2,012,220 new shares were issued to investors at a subscription price of EUR2.10, raising the share capital of the Company to EUR12,073,322. Once entered in the Commercial Register, all new shares will be fully entitled to dividend payments as of 1 January 2018 and are scheduled to be included in the existing listing on the regulated market of the Frankfurt stock exchange (Prime Standard) presumably on 11 April 2019. The gross proceeds amounting to around EUR4.2 million are expected to be used for the financing of MOLOGEN's business operations until the end of 2019 and especially for the financing of the ongoing pivotal phase III study IMPALA.
The transaction was executed by KAS Bank N.V., Frankfurt.
The gross proceeds of around EUR4.2 million will be used for the financing of MOLOGEN's business operations beyond July 2019 and especially for the financing of the ongoing pivotal phase III study IMPALA with lefitolimod in the indication of colorectal cancer. These funds are expected to finance the Company until the end of 2019.
Inclusion of the new shares under the Company's existing listing (ISIN DE000A2LQ900, SIN A2L Q90) is planned for 11 April 2019.
The focus of the development work is on the product family of DNA-based TLR9 agonists. This includes the lead compound lefitolimod and the next-generation molecule family EnanDIM(R).
The immunotherapeutic agent lefitolimod is the Company's lead compound and is currently being investigated in a pivotal trial. It 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 mode of action, lefitolimod could potentially be used in various indications. 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 extensive-stage small cell lung cancer (ES-SCLC) and the data from the extension phase of the TEACH study in HIV have been published.
MOLOGEN AG is a publicly listed Company, headquartered in Berlin. The shares (ISIN, DE000A2LQ900/SIN: A2L Q90) are listed in the Prime Standard of the German Stock Exchange.
02.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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