MOLOGEN AG: Successful capital increase to finance clinical studies

The Berlin-based biotechnology company MOLOGEN AG announced today that they have successfully completed a capital increase. A total of 800.000 shares were placed with institutional investors without subscription rights. The company’s subscribed capital has increased by 9.4 percent to Euro 9.29 million. The issue price is above the average share price of the last trading days and furthermore the capital increase was oversubscribed. The issue grossed about Euro 6 million.

MOLOGEN plans to use the additional liquidity to fund the clinical development of two cancer therapies up to the end of phase II. On the basis of its dSLIM® immunomodulator the company develops a DNA-based medicine against colorectal cancer. In 2006, the European Commission has granted “Orphan drug status” to MOLOGEN for its cell-based gene-therapy against renal cell carcinoma. In earlier studies, both therapies have demonstrated safety and efficacy.

“This targeted capital increase provides us with the funds to perform clinical studies for our top two product candidates in a high quality manner as required by international regulatory approval standards,” said Professor Burghardt Wittig, Chief Executive Officer of MOLOGEN AG. “The studies enable us to fully capture the potential of our innovative therapies when it comes to out-licensing deals. We are especially delighted by the further commitment of our major shareholder Graf von Thun und Hohenstein, who has subscribed a significant amount of the new shares.”

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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