Berlin, 12 May 2010 – MOLOGEN AG has reached further important milestones in the ongoing fiscal year: In March the company received approval from the responsible health authorities in Germany and Austria to conduct a phase 2 clinical study with its cancer medicine MGN1703. It is expected that the study will be initiated soon. First results from the phase 2 study will be available in about nine or ten months following an intermediate analysis.

MOLOGEN has also made further advances with its DNA-based vaccines. The company has received an assurance of funds for the preclinical development of a vaccine against hepatitis B. The research project will be conducted in cooperation with Synvolux Therapeutics B. V. of the Netherlands and should be completed by the end of 2012. MOLOGEN has also received financial support for the development of a DNA-based vaccine against leishmaniasis. Initial preclinical tests are currently being conducted with the new vaccine.

In addition to the significant advances in the development of its product candidates, MOLOGEN has also been successful in conducting a further capital increase in January 2010 in order to financially secure all of its scheduled activities and clinical studies into the year 2011.

Economic development according to plan

The economic development of MOLOGEN AG also met its targets for the first quarter of 2010. A total of EUR 1.2 million in financial resources were used for research in the first three months of the fiscal year 2010. This compares to EUR 0.7 million in the previous year. The increase in investments within the field of R&D is especially attributable to the preparations for the clinical phase 2 study with the cancer medicine MGN1703. During the period covered by the report, the deficit increased as expected to EUR -1.6 million as compared to last year. The financial situation of MOLOGEN continues to be characterized by a high proportion of liquid assets in the balance sheet total.