Medigene Receives EUR 5 Million Milestone Payment from Astellas
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MediGene AG /
Medigene Receives EUR 5 Million Milestone Payment from Astellas
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Martinsried/Munich, May 7, 2012. MediGene AG (Frankfurt, Prime Standard, MDG)
received a EUR 5 million milestone payment from Astellas Pharma Europe Ltd. This
is the final payment for the transfer of rights for the cancer drug, Eligard(®),
from Medigene to Astellas.
Medigene has now received all milestone payments, totaling EUR 25 million that
were related to the transfer of the Eligard(®) rights. Medigene will continue to
receive 2% royalties on net sales of Eligard(®) achieved by Astellas. With the
transfer of Eligard(®) rights to Astellas, Medigene's obligations and risks
associated with future drug supply, cost of sales, and royalty payments due to
primary licensor Tolmar have ceased.
According to IFRS, Medigene will record this milestone payment as revenue from
discontinued operations.
This press release contains forward-looking statements representing the opinion
of Medigene as of the date of this release. The actual results achieved by
Medigene may differ significantly from the forward-looking statements made
herein. Medigene is not bound to update any of these forward-looking statements.
Medigene(®) is a registered trademark of MediGene AG. Eligard(®) is a registered
trademark of Tolmar Therapeutics Inc. These trademarks may be owned or licensed
in select locations only.
- ends -
MediGene AG is a publicly listed (Frankfurt: MDG, prime standard) biotechnology
company headquartered in Martinsried/Munich, Germany. Medigene focuses on
clinical research and development of novel drugs against cancer and autoimmune
diseases. Medigene is the first German biotech company to have revenues from
marketed products, which are distributed by partner companies. It has two drug
candidates in clinical trials and is developing an innovative vaccine
technology.
Contact MediGene AG
Julia Hofmann, Kerstin Langlotz
Investor & Public Relations
Tel.: +49 - 89 - 20 00 33 - 33 01
Fax: +49 - 89 - 20 00 33 - 29 20
Email: investor(at)medigene.com
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press release as pdf:
http://hugin.info/132073/R/1609026/510814.pdf
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Source: MediGene AG via Thomson Reuters ONE
[HUG#1609026]
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Datum: 07.05.2012 - 01:31 Uhr
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