MOLOGEN AG: Executive Board presents future strategy to shareholders; shareholders elect new Supervisory Board member and adopt new Authorized and Conditional Capital
DGAP-News: MOLOGEN AG / Key word(s): AGM/EGM
Press release N 16 / 2019 of 30 August 2019
"We are delighted with this confirmation of trust and confidence of our shareholders in these times of the restructuring program and strategic refocusing of the Company and we are grateful for the discernible support. The financing measures, which thereby have been made possible, will allow us to advance our TLR9 agonists in the indications cancer and HIV/AIDS in the framework of the new corporate strategy", says Dr med Stefan Manth, CEO of MOLOGEN AG.
The resolutions adopted at the Annual General Meeting included the election of Dr Friederike Zahm as a new member of the Supervisory Board. Dr Zahm is a registered pharmacist and has accumulated a great deal of management experience in the fields of pharmaceutical development and approval, product strategy and life-cycle management as well as licensing in the field of biotechnology. She acquired her industry-specific expertise and experience with a global pharmaceuticals group and as a member of the Supervisory Board of a mid-sized Clinical Research Organization (CRO). At present, she is working as a consultant in the fields of pharmaceuticals and biotech and as a lecturer in the faculty of pharmacy at Freiburg University.
Furthermore, a resolution was adopted to create new Authorized and Conditional Capital as well as the authorization to issue convertible and/or option bonds. These resolutions will provide the Company with additional flexibility for various financing options.
MOLOGEN intends to initially cover its future financing requirements via its Authorized Capital. Accordingly, in the coming months, subject to market conditions as well as the applicable requirements under prospectus laws, a cash capital increase is to be carried out from Authorized Capital.
The focus of MOLOGEN's development is on DNA-based TLR9 agonists. This includes the lead compound, the immunotherapy lefitolimod, and its next generation molecules EnanDIM(R), building the foundation for a next generation immunotherapy platform in areas of unmet need.
Forthcoming milestones include: the start of the TITAN study in HIV, the start of the clinical development of EnanDIM(R) and additional combination studies in cancer, including one with our strategic partner Oncologie Inc., which are in an advanced planning stage.
MOLOGEN AG is a publicly listed Company, headquartered in Berlin. The shares (ISIN, DE000A2LQ900/SIN: A2L Q90) are listed in the Prime Standard of the German Stock Exchange.
30.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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