MOLOGEN AG receives upfront payment

The Berlin-based biotechnology company MOLOGEN AG announced today that it as received an upfront payment related to a licensing and distribution agreement for its cell-based gene therapy in Asia. The agreement foresees further milestone payments of up to EUR 1.7 million and additional license payments.
„This payment is an important milestone in commercialising our innovative cell-based gene therapy for the treatment of cancer“, said Prof Burghardt Wittig, Chief Executive Officer of MOLOGEN AG. „We will use our additional financial flexibility to further strengthen our technological platform.”The upfront payment is part of an agreement with “China Import-Marketing und Promotion GmbH” (CIP), stipulating the licensing and marketing of MOLOGEN´s cell-based gene therapy for the treatment of renal cell carcinoma, colon, breast and lung cancer. For this purpose, MOLOGEN´s partner C.I.P. will contract further local license partners in Asia. “China Import-Marketing und Promotion GmbH” has been a worldwide acting trader for licenses and brands for more than 15 years.

About cell-based gene therapy for cancer

MOLOGEN has developed an innovative cell-based gene therapy on the basis of injecting immunomodulated tumor cells. The tumor cells are transformed by gene modification and a combination of immunomodulating molecules into a very effective gene therapy. This way of activation of the immune system is a very promising approach towards overcoming the fatal tolerance of the patient’s immune system against cancer cells.

About MOLOGEN

MOLOGEN AG is a listed biopharmaceutical company with headquarters in Berlin (Frankfurt Stock Exchange, Regulated Market, ISIN DE0006637200). On the basis of patented technologies (MIDGE and dSLIM), MOLOGEN develops DNA-based vaccines and therapeutic agents for the prevention and treatment of a wide range of serious illnesses.

Disclaimer concerning prognoses

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 classification numbers, 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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