All Stories
Follow
Subscribe to Medigene AG

Medigene AG

ots Ad hoc-Service: MediGene AG <DE0005020903>

Munich/San Diego, CA (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
CLOSING HELD FOR ACQUISITION OF NEUROVIR THERAPEUTICS, INC.
The German biopharmaceutical company MediGene AG (NMarkt: MDG)
announced today the closing of the acquisition of NeuroVir
Therapeutics, Inc. (San Diego, CA), a biopharmaceutical company
developing modified herpes simplex viruses (HSV) for use in cancer
therapy. Currently NeuroVir has two product candidates in clinical
trials. The NeuroVir shareholders have consented to the consummation
of a merger of MediGene AG's newly founded subsidiary, MediGene, Inc.
with NeuroVir. MediGene AG will take ownership of NeuroVir under the
name MediGene, Inc. upon registration of the capital increase by
MediGene AG for issuance of shares to compensate NeuroVir
shareholders. MediGene's Chief Executive Officer, Peter Heinrich,
Ph.D., will act as CEO of the combined entity, Frank Tufaro, Ph.D.
will head MediGene, Inc. as a Managing Director.
MediGene AG is acquiring NeuroVir in a stock-for-stock
transaction. 996.631 new MediGene AG shares will be issued to
NeuroVir's shareholders, with an exclusion of pre-emptive rights of
existing shareholders, in exchange for all shares of NeuroVir that
MediGene had not already owned. MediGene AG purchased approximately 9
% of NeuroVir previously to its IPO in June 2000. Upon completion of
the transaction, NeuroVir's former shareholders will hold
approximately 8.6 % of MediGene AG 's outstanding shares on a fully
diluted basis.
With this acquisition, MediGene AG has five product candidates in
clinical development and several more in pre-clinical pipeline. Its
technology platform comprises four proprietary technologies applied
in cardiology and oncology.
For further information please contact:
MediGene AG Email:  investor@medigene.de 
   Fax: ++49 - 89 - 89 56 32-20
Christine Bohner, Public Relations
   Tel: ++49 - 89 - 39 56 32-16
   Michael Nettersheim, Investor Relations
   Tel: ++49 - 89 - 89 56 32-46
End
Internet: http://recherche.newsaktuell.de

Original content of: Medigene AG, transmitted by news aktuell

More stories: Medigene AG
More stories: Medigene AG