- Lead program MDG1015 on track for CTA/IND approval in 2H 2024
- Prioritization of pipeline to accelerate the advancement of Medigene’s maturing KRAS-library
- Projected cash runway extended to Q1 2025. Exploring financing options to extend cash runway into 2026 and beyond
Planegg/Martinsried,
“Over the past 18 months,
“We will continue to optimize our resource allocation based on business demands. As a small biotech company in a challenging capital markets environment, we have a focus on careful cost management and resource allocation that allows us to remain committed to our mission of delivering best-in-class, differentiated T cell receptor engineered T cell (TCR-T) therapies for solid tumor patients.”
Corporate update
- Portfolio Prioritization
- Medigene’s lead program MDG1015 remains on track for IND/CTA approval in 2H 2024. In line with the Company’s previous communication, the clinical Phase I trial will commence as soon as possible thereafter and remains subject to financing.
- In 2024,
Medigene will focus on the development of two of its previously announced KRAS-targeted programs. By optimizing the technology and processes for the development of MDG2011 (targeting KRAS G12V with HLA-A*11; lead selected in Q3 2023) and MDG2021 (targeting KRAS G12D-HLA-A*11; lead selection in 1H 2024), the Company expects an accelerated development for future KRAS progams as well as other cancer targets. - As such, the lead selection for the Company’s third announced KRAS-targeted program MDG2012 has been moved to 2025 (previously 2H 2024).
- The Company’s ability to deliver on its contractual obligations within its partnerships remains unaffected.
- Costs & Cash Runway
- Cost reductions made to date and planned in 2024 mainly relate to external expenses that lower professional and consulting fees, as well as moving of programs into 2025. The Company continues to operate a lean staff structure.
Medigene remains focused on partnering opportunities, including for some of its currently announced product candidates, to expedite their continued development.- The Company has extended its projected cash runway into Q1 2025 (without including potential milestones from partners) and continues to evaluate all appropriate financing options to advance its cash runway into 2026 and beyond.
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