Report
Daniel Wilkinson

Medigene - TCR clinical trial initiation imminent

Medigene’s Q3 results are in line with our forecasts. The company has submitted its Phase I/II clinical trial application for its lead TCR cellular immunotherapy product candidate MDG1011 and anticipates initiation of the trial by year end. In addition to the upcoming trial initiation, Medigene has made numerous scientific and technological achievements in 2017, including presentations on its automated TCR identification platform and preclinical data on MDG1011. Partners have presented compassionate use data on DC vaccines in AML. We value Medigene at €316m (€14.3/share).
Underlying
MediGene AG

Medigene is a biopharmaceutical company that focuses on the research and development of drugs to treat cancer and autoimmune diseases. Co.'s segments are: marketed products and drug candidates. Co.'s marketed products segment consists of the drug Veregen®, which is an ointment for the treatment of external genital warts. Co.'s drug candidates segment consists of: EndoTAG®-1, which is for the indication pancreatic cancer and triple-negative breast cancer; RhuDex®, which is a modifying agent for the oral treatment of autoimmune diseases; and adeno-associated virus-like particles, which provides potential as prophylactic and therapeutic vaccines, for example, against cancer and infections.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Daniel Wilkinson

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