Medigene AG
MediGene AG english
MediGene to spin off its cardiological drug discovery program
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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MediGene to spin off its cardiological drug discovery program
The aims are to concentrate MediGene AG on its core business and to increase
the value of the drug discovery program by expansion and alternative financing
within an external unit
Martinsried / San Diego, August 13, 2002, The German-American biotechnology
company MediGene AG (NMarkt: MDG) decided to spin off its cardiological drug
discovery program. The continuation of this program and the development of
previously identified drug leads now requires further investment in the areas
of chemistry and preclinical development, which is to be provided by external
investors. In this connection, the company is examining several options,
preferably for the program to be outsourced to its own company, which is to be
developed together with strategic partners and financial investors. This should
significantly strengthen MediGene AG’s financial situation and make it easier
for the planned break-even point to be achieved in 2005, according to company
reports. In addition, in the event that the program is successfully
transferred, it is planned that MediGene will participate in the increase of
value of the new company as a shareholder. Strategically, this will enable
MediGene to concentrate on its current research and development projects in the
area of tumor diseases and to free itself up for acquisition and individual
licensing of other advanced products.
For further information please contact:
MediGeneAG email: investor@medigene.de
fax: ++49 – 89 – 85 65 2920
Julia Hofmann, Public Relations phone: ++49 – 89 – 85 65 3324
Dr. Michael Nettersheim, Investor Relations phone: ++49 – 89 – 85 65 2946
end of ad-hoc-announcement (c)DGAP 13.08.2002
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WKN: 502090; ISIN: DE0005020903; Index: NEMAX-50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
132016 Aug 02
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