BioCentury
ARTICLE | Financial News

Medigene raises EUR 15.9 million

July 17, 2014 12:55 AM UTC

Medigene AG (Xetra:MDG1) raised EUR 15.9 million ($21.7 million) in an offering comprising EUR 15.1 million ($20.5 million) through the sale of 3 million shares at EUR 5 and EUR 818,658 ($1.1 million) in zero-coupon convertible bonds. The two-year bonds initially convert at EUR 5. The company proposed to raise up to EUR 28.8 million ($39.2 million) in the offering on June 27, when its share price was EUR 5.07. Baader Bank was the sole bookrunner. Medigene plans to use the proceeds to develop its cancer T cell immunotherapy programs, which the company gained through its acquisition earlier this year of Trianta Immunotherapies GmbH. The lead program is an autologous dendritic cell vaccine platform in Phase II testing in prostate cancer and in Phase I/II testing for acute myelogenous leukemia (AML) (see BioCentury Extra, Jan. 27). ...