MediGene AG Receives Another Research Grant for the Expansion of the EndoTAG Technology
Martinsried/Munich – San Diego, June 23, 2006. Today the German-American biotech company MediGene AG (Frankfurt, TecDAX) has announced that, within the scope of the BioChance Plus program, the Bundesministerium für Bildung und Forschung, BMBF (Federal Ministry of Education and Research) has granted a sum of approximately 0.4 million Euros for the further development of the EndoTAG platform. Up to now, MediGene has been developing a drug for the treatment of various types of cancer, based on the EndoTAG technology. The BMBF funds now granted are intended for the development of EndoTAG for the treatment of other diseases associated with pathological formation of new blood vessels. The funds will be provided over the next two years. In March 2006, the Bavarian Research Foundation already granted 1.4 million Euros to support the development of EndoTAG in other indications.
The EndoTAG technology targets diseases characterized by pathological formation of new blood vessels (pathological angiogenesis). These include numerous tumor diseases such as pancreatic cancer. MediGene is currently conducting a clinical phase II trial of the drug candidate EndoTAG-1 in this indication. Another phase II trial in the indication breast cancer is scheduled for initiation at the end of this year. Apart from that, MediGene is investigating the application of the EndoTAG technology for the treatment of other diseases.
“Within a short time, two independent scientific boards decided to grant considerable amounts of money for the development of EndoTAG. This appreciation by third parties emphasizes the tremendous potential of this technology for the development of drugs for the treatment of various diseases. We are further pushing our current clinical projects in order to take EndoTAG-1 to the market as soon as possible. At the same time we are expanding the range of application for the technology in order to realize the variety of opportunities that it provides”, Dr. Peter Heinrich, Chief Executive Officer of MediGene AG, comments.
This press release contains forward-looking statements that involve risks and uncertainties. The forward-looking statements contained herein represent the judgement of MediGene as of the date of this release. These forward-looking statements are no guarantees for future performance, and the forward-looking events discussed in this press release may not occur. MediGene disclaims any intent or obligation to update any of these forward-looking statements. EndoTAGTM and MediGeneTM are trademarks of MediGene AG.
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MediGene AG is a publicly quoted (Frankfurt: TecDAX), German-American biotechnology company located in Martinsried, Germany and San Diego, USA. MediGene is the first German biotech company with a drug on the market. The NDA for a second drug, Polyphenon® E Ointment, has been submitted. In addition, MediGene has several oncological drug candidates undergoing clinical development, and possesses innovative platform technologies for drug development. MediGene’s core competence lies in research into and development of novel approaches for the treatment of various cancer and tumor diseases.
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