Date: 2014-07-15
Type of information: Capital increase
Company: Medigene (Germany)
Investors:
Amount: € 15.9 million
Funding type: capital increase
Planned used: Medigene will use the proceeds from the offering of the new shares and the new notes primarily for the clinical development of Medigene\'s immunotherapy platforms for TCR modified adoptive T cell therapy and DC vaccines, including further good manufacturing practice (GMP) process development, as well as further preclinical development of the TCR and TABs technologies. Medigene has positioned itself at the forefront of personalized T cell immunotherapy through the acquisition of Trianta Immunotherapies GmbH. Trianta is focusing on three complementary immunotherapy platforms to target various tumour types and stages. Each one is focused on T cells, a type of white blood cell that plays a pivotal role in immunity. The company develops new generation antigen-tailored dendritic cell (DC) vaccines, T cell receptor (TCR)-based adoptive cell therapy and T cell-targeted antibodies (TABs). Currently the DC vaccines are being evaluated in two ongoing investigator-initiated trials in clinical phases I/II and II. Medigene/Trianta is concentrating on the further development of DC vaccines and the TCR-based adoptive cell therapy in hematological malignancies and plans to initiate a further clinical study for the DC vaccine in AML in 2014. Within the TCR-based adoptive cell therapy the company is continuing the development of a GMP-compliant manufacturing process and is preparing the clinical development of a first product candidate. Preclinical development of the third platform TABs is continuing with the aim of achieving proof of principle.
Others: * On July 15, 2014, Medigene completed the capital increase announced on 27 June 2014 for the funding of its cancer immunotherapy programmes. Gross proceeds of € 15.9 million were achieved by placing the maximum number of new shares and the issuance of convertible bonds. With that, the Company\'s cash reach will be extended at least until the end of 2016. A total of 3,016,082 new shares at a price of EUR 5.00 per share and convertible bonds divided into 818,658 notes in the nominal amount of € 1.00 per note were placed with existing Medigene shareholders and mainly new institutional investors. The offering of new shares was oversubscribed. With the capital increase, Medigene made full use of its remaining authorised capital currently available. By issuing 3,016,082 new shares from authorised capital, the share capital of Medigene AG increases by € 3,016,082 from € 10,889,950 to € 13,906,032. The gross proceeds generated from the issuing of new shares amounts to € 15,080,410. The new shares will be admitted to trading with ISIN DE000A11QVD8, securities identification number WKN A11QVD and stock exchange symbol MDG9 from 22 July up to 14 August 2014. From 15 August 2014 on, the new shares will have the same ISIN, securities identification number (WKN) and stock exchange symbol as the existing Medigene shares. By issuing convertible bonds divided into 818,658 notes in the nominal amount of € 1.00 per note, Medigene achieved gross proceeds of € 818,658. The bond is structured as a zero coupon note. Subject to certain non-conversion periods the conversion right may be exercised by noteholders from 4 September 2014 until the maturity date at a conversion price of € 5.00 per share for conversion into up to 163,731 new shares. At the maturity date, which is two years after the issue date, the Company is entitled to require a mandatory conversion of the notes into shares.
Therapeutic area: Cancer - Oncology
