Medigene AG : Raising TP to € 14 on expanded collaboration with bluebird bio
>Capital increase of €32.3m from oversubscribed private placement - In May Medigene raised € 32.3m in gross proceeds through the issuance of 2.23m new shares at a price of € 14.50 per share, increasing its total number of registered shares to 24.5m. QVT Financial LP, USA, a major shareholder of Medigene, sold 1.1m existing shares in Medigene in a secondary offering to institutional investors at the same price of €14.50 per share. As a result of this, QVT will hold mo...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.
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