Edison Investment Research - Mologen AG (MGN) Mologen - Global lefitolimod partnership close to completion

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Edison Investment Research

Daniel Wilkinson

Mologen - Global lefitolimod partnership close to completion

Mologen announced that it has signed term sheets for a global partnership with Oncologie for its lead asset, lefitolimod. The deal is expected to complete in Q119, and in the near term Mologen expects to receive â‚¬23m from the agreement in a combination of R&D funding, cash payment and bond issues. Sensitivity remains around Oncologie who are an early stage biotech with $16m in seed funding. Mologen announced a capital raise in which it could receive gross proceeds of â‚¬18m. Focus remains on data from the Phase III IMPALA trial in metastatic colorectal cancer (mCRC), expected in 2020. We value Mologen at â‚¬188m (â‚¬16.6/share).

21/09/2018 14 EN

Underlying

Mologen AG

Mologen is a biotechnology company researching and developing deoxyribonucleic acid (DNA)-based drugs for diseases that require a high degree of medical treatment. Co.'s activities concentrate on creating new and improving existing immunological drugs and therapies to combat cancer and developing vaccines for the prevention and treatment of serious infectious diseases in humans, as well as animals. Two core areas of Co.'s operations are the treatment of cancer and infectious diseases. Co. developed and patented two technologies that allow for the use of DNA as a therapeutic treatment against diseases that were previously incurable or treatable to an unsatisfactory degree.

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DE0006637200 Germany

Provider

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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Mologen - Global lefitolimod partnership close to completion

MOLOGEN - IMPALA readout ends monotherapy strategy

MOLOGEN - IMPALA readout ends monotherapy strategy

Mologen - Retaining lefitolimod's value

Custodian Property Income REIT - Significant uplift in fully covered DPS

Canadian General Investments - Adding to positive long-term performance record

Recce Pharmaceuticals - Advances on several fronts

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