Results 2015

In 2015, Medigene continued to focus on innovative immunotherapies and further strengthened the Company in both research and financial terms.

Medigene’s own phase I/II trial with DC vaccines started for the treatment of acute myeloid leukaemia (AML) 

Patent portfolio strengthened for our immunotherapies

Successful capital increase completed to finance the immunotherapy programmes

Clinical data on DC vaccines presented by our academic partners

EndoTAG® sold in its entirety to SynCore

Spin-off Catherex Inc. sold to Amgen Inc.

More highlights >


  • Resolution on significant changes to the management team: appointment of Prof. Dolores J. Schendel as Chief Executive Officer (from 1 February 2016) and Dave Lemus as Chief Operating Officer (from 1 January 2016)

  • Gross revenue of approx. €46.4 m from capital increase


  • Progress in phase I/II DC trial triggers milestone payment

  • Licensed patent for the DC vaccine manufacturing process granted in Europe and US patent prolonged 

  • Early clinical data on DC vaccines presented at the AACR Annual Meeting, USA, and the ASH Annual Meeting, USA, by academic partners

  • Publication on TCRs published in Nature Biotechnology

Non-core products:


  • Market launch in Croatia, Ireland and the UK. Partnership agreements with L. F. Will-Pharma & Cie for the French market and with South African company Litha Healthcare for 13 countries in southern Africa


In 2015, Medigene consistently invested in its immunotherapy programmes and achieved its financial forecast. The Company’s financial resources were considerably supplemented.

Increase in cash and cash equivalents and financial assets to €46.4 m (31.12.2014: €15.0 m)

Increase in share price in 2015

Targeted increase in research and development expenses for immunotherapies of 95% to €5.5 m (2014: €2.8 m) 



Financial forecast for 2015 met

IN € K 20152014 Change
Veregen® revenue3,1015,195-40%
      thereof royalties2,5492,3528%
Other operating income3,7078,589-57%
TOTAL REVENUE6,80813,784-51%
Cost of sales-1,103-2,086-47%
Gross profit5,70511,698-51%
Selling and general administrative expenses-7,615-7,0818%
Research and development expenses-8,529-7,49814%
Operating result-10,439-2,881>200%
Earnings before tax-13,399-5,912127%
Net profit/loss for the year -12,999-5,757126%
Earnings per share (basic/diluted) (€)-0.77-0.4769%
Personnel expenses-7,664-6,62216%
Net cash used in operating activities-10,605-8,75621%
Net cash used in investing activities-39,409-935>200%
Net cash from financing activities43,79714,502>200%
Cash and cash equivalents46,75914,976>200%
Total assets113,53171,28359%
Current liabilities9,6647,75525%
Non-current liabilities13,87914,457-4%
Shareholders’ equity89,98849,07183%
Equity ratio (%)796915%
Employees as at 31 December73721%
FTEs as at 31 December66651%
Total number of shares outstanding as at 31 December19,678,62813,927,42841%
Share price (XETRA closing price) as at 31 December (€)8.703.72134%
Dividend (€)00

Download the financial report 2015 >