Wednesday, November 24th, 1999
Multi-national group of investors put their money in Mologen's proprietary MIDGE technology
A group of private investors from China, the USA, and Germany is enlarging at the moment its investment in the Mologen AG. The group intends to hold ten percent of Mologen stocks. The company's board of directors is pleased by the investment. "Mologen's strategic orientation towards international growth markets is ideally represented by these investors", says CEO Burghardt Wittig.
Study confirms safety of MIDGE technology
The board of directors announces the successful completion of a study carried out by the Centrum of Somatic Gene Therapy in collaboration with two university clinics. This study on kidney cancer proves the safety and feasibility of MIDGE-based gene therapy. Results of the study will be publicated within the next weeks. The fast pace of Mologen's research and developments in gene therapy and genetic vaccination for serious human diseases calls preparation of large clinical studies.
On the DVFA conference of financial analysts in Munich last week CEO Burghardt Wittig commented on the fatal incident in a gene therapy using a virus based gene delivery technology. "Sadly, this proves the importance of the totally different MIDGE concepts. The minimalistic immunologically defined gene expression (MIDGE®) technology is completely independent of viral gene delivery and the ideal solution for safe gene therapy."
Mologen is a research-driven company developing tools and products for molecular medicine and bioinformatics. The proprietary MIDGE technology is used in gene therapy and genetic vaccination.
Mologen shares are traded on the "Freiverkehr" exchange (equity number 663720).
Berlin, November 24, 1999
Board of executives