Mologen AG reported positive results of the first half of 2015 and appointed Mariola Söhngen as new CEO.
Mologen is one of Berlin’s biggest biotechs, focusing on the development of immunotherapies treating cancer and infectious diseases. Its lead candidate is a cancer therapy that uses DNA to help the immune system recognize cancer cells. We paid the company a visit within our North Germany tour and interviewed Mologen’s current CEO Matthias Schroff.
However, Schroff won’t be CEO of the company anymore soon, as Mariola Söhngen will take up the position on November 1.
Söhngen was co-founder and Chief Medical Officer of the pharma company Paion AG. At Paion, she was in charge of drug development. Her new tasks will be to take care of research and business development, strategy and partnering within Mologen.
But Matthias Schroff is not the only one leaving soon, as Chief Financial Officer Jörg Petraß doesn’t want to extend his tenure that is running out on December 31.
So, how does the financial situation of the company look like?
The published results of the first half of 2015 are rather positive. Mologen is still in research and development phase and doesn’t pull in sales yet. Due to decreased R&D expenses, it reported a loss of €6.9M in the first half of 2015, which is 1M less than in the first half of the previous year.
In April, Mologen raised €28.3M, which will allow Mologen to pursue its current research and study programs up to the end of 2016. First of all, these are three trials with its lead candidate, the immunomodulator MGN1703. It is tested for three distinct cancer indications in Phase I to III. All of these trials are currently recruiting patients.