PharmiWeb.com - Global Pharma News & Resources
17-Sep-2019

CO.DON AG: Negotiations on capitalization and out-licensing

DGAP-News: CO.DON AG / Key word(s): Miscellaneous

17.09.2019 / 11:18
The issuer is solely responsible for the content of this announcement.


CO.DON AG - Negotiations on capitalization and out-licensing

Berlin / Teltow, 17 September 2019 - As a result of the evaluation of various financing options to secure the capital required by CO.DON AG to implement its corporate strategy, Ralf M. Jakobs, spokesman of the executive board of CO.DON AG, met with American and Asian investors as part of a board trip to the USA. The meetings followed on from the discussions that began in the spring of this year, which were intensified in the course of the year. One of the topics of these discussions was the exploration of investment opportunities in the lower two-digit million Euro range in CO.DON AG. The discussions were assessed by the parties involved as very effective and corresponding options regarding a possible capital measure by CO.DON AG are expected within the next few weeks. Furthermore, conversations are being held with anchor investors of CO.DON AG in connection with the participation in a capital measure. The parties have agreed not to disclose further details.

Moreover, the Company is in negotiations regarding the out-licensing of its EU-wide approved product into two non-European countries. Mr. Jakobs: "In line with granting the licence to Russia, we are following our foreign strategy, which has been defined by two main directions since obtaining EU-approval: In the European Union, we are further expanding our market presence with the EU-wide approved product in line with our strategy. For other markets outside Europe, we regard the granting of licenses as more reasonable and economically more effective for CO.DON AG. The goal is and remains to significantly increase the company's earnings in a timely manner, including through the granting of licenses as well as the exploitation of further business opportunities".

CO.DON AG develops, produces and distributes autologous cell therapies for the minimally invasive repair of cartilage defects. The product being marketed is a cell therapy product for the minimally invasive treatment of cartilage damage in the knee joint that uses only the patient's own cartilage cells ("autologous chondrocytes"). CO.DON's method is currently used in over 200 clinics in Germany and more than 14,000 patients have already been treated. In July 2017 CO.DON AG received central EU marketing authorisation for this product from the European Medicines Agency (EMA). The shares in CO.DON AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227). Executive Board: Ralf M. Jakobs (Spokesman), Tilmann Bur (COO).

Further information is available from www.codon.de

Investor Relations and Press Contact:

Matthias Mei├čner, M.A.

Tel. +49 (0)30 240352330

Fax +49 (0)30 240352309

Email: ir@codon.de

Disclaimer

This press release contains forward-looking statements. Forward-looking statements refer to future facts, events as well as other circumstances that are not historical facts. Forward-looking statements become recognizable in the context, however they can also be identified through words like "could", "become", "should", "plan", "intend", "expect", "predict", "foresee", "believe", "assume", "estimate", "forecast" or "possibly" and similar expressions.

The forward-looking statements are based on current plans, estimates, forecasts and expectations of CO.DON AG as well as on certain assumptions, which can prove faulty. Numerous factors can lead to the fact that the actual development of or the profits made by CO.DON AG differ considerably from the development or the profits that are assumed explicitly or implicitly in forward-looking statements. In case such factors or uncertainties should occur or assumptions taken as a basis by CO.DON AG should turn out to be incorrect, it cannot be excluded, that the real results differ considerably from the results that are included in the forward-looking statements.

This press release does not constitute an offer or invitation or recommendation to buy or sell securities of CO.DON AG.



17.09.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: CO.DON AG
Warthestra├če 21
14513 Teltow
Germany
Phone: 03328 43460
Fax: 03328 434643
E-mail: info@codon.de
Internet: www.codon.de
ISIN: DE000A1K0227
WKN: A1K022
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange
EQS News ID: 874801

 
End of News DGAP News Service

Editor Details

Last Updated: 17-Sep-2019