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Mologen (MGN) - Global lefitolimod partnership close to completion

16:18 EDT 21 Sep 2018 | Edison Investment Research

Edison Investment Research - Pharmaceutical & healthcare - Mologen: 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 €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 €18m. Focus remains on data from the Phase III IMPALA trial in metastatic colorectal cancer (mCRC), expected in 2020. We value Mologen at €188m (€16.6/share).
ISIN: DE0006637200

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