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Medicine reports in the 2nd quarter and publishes its half-yearly report for 2021

Medicine reports in the 2nd quarter and publishes its half-yearly report for 2021

Source: IRW Press

Conference Call Today, August 12, 2021 at 3:00 pm CET (in English)

Planek / Martins Street (August 12, 2021) – Medicine AG (Medigene, FWP: MTG1, Prime Standard), an immuno-oncology company with a focus on the development of D-cell-targeted cancer treatment, today released its half-yearly business development and 2021 Report with an Overview of Financial Results. The full version of the report can be downloaded here: http://www.medigene.de/investoren-medien/berichte-praesentationen/

Professor Dr. Dolores Shendel, CEO and CEO of Medicine: “We have made great strides in advancing the development of our immune system.

Through years of intensive research, for example, with the combination of impressive PRAME-specific product candidate TCR-4 and PD1-41BB switch receiver, we have developed a sound base for our TCR T cells to withstand rigorous adverse conditions. The environment can deal with tumors and fight cancerous tissue.

We will continue to categorize new target antigens, including DCR candidates for partnerships and future studies at the University of Montreal to implement both our own medical programs and new development partnerships. Overall, we should never miss the exaggerated goal – to provide the best treatment options for patients and physicians as soon as possible. “

2021 and the company’s growth in the 2nd quarter of the quarter

In order to improve its operations in the direction of solid tumor symptoms, Medigene continues its research and development work on its various technologies and product candidates:

-DCR-4, Medicine’s leading DCR candidate against solid tumors, is an isolated DCR using Medigen’s high-performance screening platform. With human leukocyte antigen (HLA) A2, it specifically recognizes a peptide derived from prim protein. PRAME is manifested by many solid tumors. TCR-4 This frame is highly sensitive to epitope and its activity has been tested in vivo models only against vitro (including a large number of tumor cell types such as lung cancer, ovarian cancer, melanoma and ovarian cancer) and melanoma. And found significantly improved performance in conjunction with the Medigenes PD1-41BB switch receiver. The switch receiver converts the off signal sent by the PDR-L1 to the active signal to the DCRT cells.

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Working with the University of Montreal, Medicine gained access to 47 potential new tumor-specific antigens (DSAs) found in samples from multiple patients with solid tumors of various origins, including ovarian, breast, and lung cancer. With the help of Medigen’s high-performance screening technology, ten peptides can be classified as immunogenic. That is, they can induce specific T cell responses. To date, Medicine has isolated more than 20 DCRs from T-cell clones that have the potential to recognize these novel DSAs and become the next generation of DCR-D treatment candidates. They are currently further classified in terms of function and safety.

In June 2021, the last patient joined the third dose group of the first phase of clinical phase I / II study with MDG1011 against leukemia. In line with the focus on solid tumors, the company has decided that the second phase of the study should be conducted by one partner or only one partner, depending on the results of Phase II. Preliminary data for the first phase is expected to be released in the second half of 2021.

-According to the Strategic Center on Progressive Tumors, the MDG1021 development project was discontinued in January 2021 and all rights to sponsorship of the HA-1-specific TCR and clinical phase I am studying were transferred to Milteni Biotech BV & Co. July 2021. KG (Mildeni). Milden will continue to develop this project from now on.

– Medigene for its successful collaborations with Bluebird Bio, Inc. And Cytovand Sciences H.K. To maximize the value of the company, Medigene continues to evaluate new partnerships related to its many technologies and product candidate portfolio.

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Development of financial position and financial forecast

In the first half of 2021, the company’s sales increased by 17% to 4. 4.3 million (6M 2020: EUR 3.7 million) and research and development expenditure (R&D costs) fell by 43% to 6. 6.3 million. Due to our (6M 2020: EUR 11.1 million) and, as expected, alignment and related performance measures (6M 2020: EUR -11.3 million) EBITDA improved 61% to EUR -4.5 million.

Management confirms the previous financial forecast and expects total revenues of EUR 7-9 million, R&D costs EUR 14-20 million and negative EBITDA EUR 10-17 million, without which the COVID-19 epidemic will have a significant impact on these expectations. These estimates do not contain future potential milestone payments from current or future partnerships or transactions because such events or their timing and purpose depend on outside parties, so Medigen cannot be reliably predictable.

Get a free PDF report on Medigene AG: Download it for free here

As of June 30, 2021, the liquid fund and time deposit was 22 22.2 million (December 31, 2020: 30 30.0 million). Based on current planning, the company will be funded until the third quarter of 2022.

Investor and Analyst Conference Invitation (in English)

Date: Thursday, August 12, 2021, 3:00 PM CET

Registration: https://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=4121616&linkSecurityString=6bd917700

Please register in advance and use the registration link above (phone number, passcode, personal PIN) to obtain your personal access data at least 2 hours prior to the event. Please do not send your dial-in data as these are personalized. Dial at least 10 minutes before the event starts.

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The board presentation can be downloaded here: http://www.medigene.com/investors-media/reports-presentations/

About Medigene

Medigene AG (FWB: MDG1, ISIN DE000A1X3W00, Prime Standard) is a listed biotechnology company headquartered in Planek, Martins Street, near Munich. With scientific expertise, Medicine has been working on the development of innovative immunotherapy to increase T-cell activity against solid cancers in high-dose non-clinical areas. Medicine’s pipeline covers preclinical and clinical development projects.

Medigene follows a strategy of advancing its own clinical approaches through clinical evidence of opinion. In addition, the company provides opportunities for selected partners to identify and improve treatment approaches based on its proprietary technology platforms. In return, Medizine expects advance and milestone payments and research and development costs and a refund of future royalties.

More information at https://www.medigene.de

There are some forward looking statements in this release. These reflect Medigen’s opinion as of the date of this announcement. The results actually achieved by Medicine may differ materially from the statements made in the forward-looking statements. Medicine is not obligated to update forward-looking reports. Medigene® is the trademark of Medigene AG. This trademark may be owned or licensed by selected countries.

For easy-to-read reasons, there is no gender difference. Related terms apply in the sense of equal treatment for both sexes.

Communication

Dr. Anna Needle

Phone: +49 89 2000 3333 01

Email: [email protected]

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