Mologen - Lefitolimod partnership close to completion

Donnerstag, 21.02.2019 13:01 von Edison Investment Research

Mologen 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, which is an early-stage biotech with $16m in seed funding. Mologen completed a capital raise in which it received gross proceeds of €8.2m. Focus remains on data from the Phase III IMPALA trial in metastatic colorectal cancer (mCRC), expected in 2019. We value Mologen at €179m (€19.3/share).