euro adhoc: MediGene AG / MediGene discontinues development of CVLP tumor vaccine (E)

Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.

Martinsried/San Diego, March 25, 2003. The biopharmaceutical company MediGene AG (TechDax30: MDG) will discontinue the development project of a CVLP tumor vaccine against cervical cancer. The data obtained from a clinical phase 1/2 trial with the vaccine demonstrates very good tolerability and indicates efficacy. However, the results did not fulfil the high efficacy criteria (efficacy in 90 % of the patients) predefined for the continuation of the project.

In the phase 1/2 trial, 36 patients received two different dosages of the vaccine or placebo and were monitored for 24 weeks. During this period, only slight side effects occurred and the treatment was very well tolerated. The evaluation of the immunological data revealed preliminary efficacy trends (higher T-cell response and antibody reaction when treated with the vaccine). The morphological data did not show a significantly increased efficacy in comparison to the placebo group.

The CVLP project was developed in cooperation with Schering AG, which contributed to the development costs. For MediGene, the discontinuation of this cooperation will result in an additional financial burden of approx. EUR 500,000 in the second half of 2003 that will be balanced out by means of appropriate cost-cutting measures.

Further inquiry note:
Michael Nettersheim
Tel.: +49 (0)89 8565 2946
Tel: +49 (0)89 8565 2900
FAX: +49 (0)89 8565 2920

end of announcement euro adhoc

Emittent: MediGene AG
Lochhamer Str. 11
DE-82152 Martinsried
Tel: +49 (0)89 8565 2900
FAX: +49 (0)89 8565 2920
ISIN: DE0005020903
WKN: 502090
Indizes: Nemax 50, Prime Standard, TecDAX
Börsen: Neuer Markt Frankfurter Wertpapierbörse; free trade Baden-Württembergische Wertpapierbörse, Bayerische Börse, Berliner Wertpapierbörse, Bremer Wertpapierbörse (BWB), Börse Düsseldorf, Hamburger Wertpapierbörse, Niedersächsische Börse zu Hannover Branche: Biotechnology
Sprache: Englisch