MOLOGEN AG
DGAP-News: MOLOGEN AG / Key word(s): Miscellaneous PRESS RELEASE N 28 / 2018 of 11/26/2018 MOLOGEN AG: Postponement of the Creditors' Meeting for the convertible bond 2017/2025 - Execution in time connection with the Extraordinary General Meeting On 21 November 2018, MOLOGEN announced that it had received a request from minority shareholders to convene an Extraordinary General Meeting. This may lead to thematic overlaps between the two meetings, mainly with regard to the adjustment of the terms and conditions for the 2017/2025 convertible bond: among other things, with regard to conversion price, conversion ratio and special right to call the convertible bond. It is the Company's aim to provide comprehensive information, in particular on the overlapping points, also at the Extraordinary General Meeting and thus to ensure the greatest possible transparency. The principle creditor agreed to this procedure in advance. At the Creditors' Meeting, the bondholders are to vote on the agreement reached with the principle bondholder at the end of October 2018 and the associated adjusted bond terms. The main bondholder had announced prior to the agreement that he would prematurely terminate the two convertible bonds 2016/2024 (ISIN DE000A2BPDY4) and 2017/2025. Following the agreement reached, the principle bondholder waived its right to exercise the currently existing special termination right that existed until 26 October 2018 due to the capital reduction carried out by the Company in summer 2018. Thus, the immediate maturity of the convertible bonds and the associated immediate repayment obligation of approximately EUR6.4 million were averted and the short-term financing of MOLOGEN AG secured. In return, the Company had offered to amend the terms and conditions of the bonds. The agreement reached with the principle creditor is to be submitted to all bondholders of the 2017/2025 convertible bond for voting at the Creditors' Meeting. MOLOGEN will announce the new date of the creditors' meeting and the date of the Extraordinary General Meeting in due time. MOLOGEN AG
The immunotherapeutic agent lefitolimod is the Company's lead compound and is currently being investigated in a pivotal trial. It is regarded as the best-in-class TLR9 agonist. Treatment with lefitolimod triggers a broad and strong activation of the immune system. On account of this mode of action, lefitolimod could potentially be used in various indications. Lefitolimod is currently being developed within the framework of a pivotal study for first line maintenance therapy for colorectal cancer. Key data of the phase II IMPULSE study in extensive-stage small cell lung cancer (ES-SCLC) and the data from the extension phase of the TEACH study in HIV have been published. In addition, lefitolimod is currently being investigated in a phase I combination study with the checkpoint inhibitor ipilimumab (Yervoy(R)) in various cancer indications. Along with various checkpoint inhibitors, lefitolimod, which is being investigated as part of a phase III clinical trial currently, is one of the few near-to-market product candidates in the field of immuno-oncology. MOLOGEN AG is a publicly listed Company, headquartered in Berlin. The shares (ISIN, DE000A2LQ900/SIN: A2L Q90) are listed in the Prime Standard of the German Stock Exchange. www.mologen.com Contact
26.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | MOLOGEN AG |
| Fabeckstraße 30 | |
| 14195 Berlin | |
| Germany | |
| Phone: | 030 / 841788-0 |
| Fax: | 030 / 841788-50 |
| E-mail: | presse@mologen.com |
| Internet: | www.mologen.com |
| ISIN: | DE000A2LQ900 |
| WKN: | A2LQ90 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |
750979 26.11.2018
