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DGAP-News: MOLOGEN AG expands research and development activities in first quarter

ID: 1227386
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(businesspress24) - DGAP-News: MOLOGEN AG / Key word(s): Quarter Results
MOLOGEN AG expands research and development activities in first
quarter

15.05.2013 / 08:00

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MOLOGEN AG expands research and development activities in first quarter

- Final study evaluations of main product candidates proceeding

- Executive Board augmented with a Chief Medical Officer

- Quarterly loss of 2.2 million euros, as expected

Berlin, May 15, 2013 - The Berlin biotechnology company MOLOGEN AG
continued to advance the clinical development of its two main product
candidates during the first quarter of 2013. Final evaluations were
initiated for both the completed ASET study (phase I) with MGN1601 and the
IMPACT study (phase II) with MGN1703. Parallel to this, MOLOGEN moved
forward with preparations for the subsequent clinical development steps. An
important milestone was likewise reached in line with the cooperation with
CharitéUniversitaetsmedizin Berlin and the Max Delbrueck Centrum Berlin:
The clinical phase I study for skin cancer with MGN1404, a product
candidate developed by MOLOGEN, was officially approved.

Overall, the quarter was marked by the expansion of research and
development activities and the ongoing licensing discussions. In addition,
MOLOGEN augmented its Executive Board with the position of a Chief Medical
Officer. The company was able to obtain the services of Alfredo Zurlo,
M.D., an oncologist and recognized expert in the areas of drug development,
regulation and clinical studies, as of the end of the quarter. Since April
1, 2013, he has been responsible for the strategy and design of the
clinical development programs and the execution of current and future
clinical studies of MOLOGEN AG.

Net assets and financial situation
At 27 thousand euros, MOLOGEN's revenue was, as expected, at a low level in


the first quarter of 2013. In other operating income, however, considerably
lower proceeds were recorded than in the same period of the previous year.
This is attributable to publicly funded projects that were carried out
during the 2012 financial year and have since been completed. The proceeds
from these projects contributed significantly to other operating income. On
the expense side, funds used for research and development (R&D) increased
by comparison to the same period in the previous year, from 1.3 million
euros to 1.4 million euros. Personnel expenses and other operating expenses
also increased.

As expected, the loss for the first quarter of 2013 totaled 2.2 million
euros. With regard to assets, MOLOGEN AG had cash and cash equivalents in
the amount of 21.8 million euros as of March 31, 2013, due to the very
successful capital measures of the previous year.

The current report is available at
www.mologen.com/en/investor-relations/publications

www.mologen.com

About MOLOGEN AG
MOLOGEN AG is a publicly listed biotechnology company headquartered in
Berlin and specializes in the research and clinical development of
innovative drugs in the fields of oncology and infectious diseases. One of
the company's most important product candidates is the DNA immunomodulator
MGN1703, which is being clinically developed for colorectal cancer and
non-small cell lung cancer. The cell-based cancer therapy MGN1601 for the
treatment of advanced renal cancer (renal cell carcinoma) is also currently
at the stage of clinical development.
With unique, patented technologies and innovative product developments,
MOLOGEN is one of the leading biotechnology companies in the fields of DNA
medicine and cell-based therapies.
MOLOGEN AG shares (ISIN DE0006637200) are listed in the Prime Standard of
the German Stock Exchange.

Memberships in associations:
Biotechnologieverbund Berlin-Brandenburg (bbb) e.V. | BIO Deutschland e.V.
| DECHEMA - Society for chemical technology and biotechnology e.V. |
German industrial association of biotechnology (DIB) | Association for
the Promotion of Science and Humanities in Germany | Association of
German biotechnology companies (VBU) | Association of researching
manufacturers of pharmaceuticals e.V. (VFA) | Association of the chemical
industry e.V. (VCI)

MIDGE(R), dSLIM(R) and MOLOGEN(R) are registered trademarks of MOLOGEN AG.

MOLOGEN AG

PRESS SERVICE:
Prof. Peter W. Huebner
Head of Corporate Communications
Tel: +49 - 30 - 84 17 88 - 38
Fax: +49 - 30 - 84 17 88 - 50
huebner(at)mologen.com

INVESTOR RELATIONS:
Joerg Petrass
Tel: +49 - 30 - 84 17 88 - 13
Fax: +49 - 30 - 84 17 88 - 50
investor(at)mologen.com

External Investor Relations:
Kirchhoff Consult AG
Sebastian Bucher
Tel: +49 - 40 - 60 91 86 - 18
Fax: +49 - 40 - 60 91 86 -16
sebastian.bucher(at)kirchhoff.de

Note about risk for future predictions
Certain information in this report contains forward-looking statements or
the corresponding statements with negation or versions deviating from this
or comparable terminology. These are described as forward-looking
statements. In addition, all of the information given here that refers to
planned or future results of business areas, key financial figures,
developments of the financial situation or other financial figures or
statistical data, is to be understood as such forward-looking statements.
The company points out to investors that they should not rely on these
forward-looking statements as predictions about actual future events. The
company is not obligated and refuses to accept any liability for the
forward-looking statements and has no obligation to update such statements
in order to accurately reflect the current situation.


End of Corporate News

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15.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: MOLOGEN AG
Fabeckstraße 30
14195 Berlin
Germany
Phone: 030 / 841788-0
Fax: 030 / 841788-50
E-mail: info(at)mologen.com
Internet: www.mologen.com
ISIN: DE0006637200
WKN: 663720
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart


End of News DGAP News-Service
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211142 15.05.2013



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Date: 05/15/2013 - 08:00
Language: English
News-ID 1227386
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