Medigene AG Successfully Raises approximately EUR 5.9 Million in Oversubscribed Capital Measure

-          Oversubscribed capital raise results in the issue of 4,912,531 new shares

-          Gross proceeds of approximately EUR 5.9 million strengthen Medigene's financial position

-          Proceeds will be used to fund operations and to progress work for the clinical development of MDG1015

Planegg/Martinsried (08.05.2024) Medigene AG (Medigene or the "Company", FSE: MDG1, Prime Standard), an immuno-oncology platform company focusing on the discovery and development of T cell immunotherapies for solid tumors, reported that it has successfully completed a capital raise with gross proceeds of approximately EUR 5.9 million in its oversubscribed capital raise with subscription rights resolved on April 22, 2024.

"We are very pleased to announce the completion of this round of Medigene's capital financing, one of the first successful transactions of a publicly listed small cap biotech in Europe and the only one in Germany in 2024. This oversubscribed raise has meaningfully strengthened our financial position. During our discussions with investors, we have received positive feedback on our End-to-End Platform as well as our corporate strategy, and the support from our existing shareholders as well as new investors validates our approach," said Selwyn Ho, CEO of Medigene AG. "The proceeds will enable Medigene to advance the development of its differentiated T cell receptor engineered T cell (TCR-T) therapies, while pursuing new partnerships to expand its end-to-End Platform into additional TCR-based modalities such as T cell engagers and TCR-Natural Killer therapies. The funds will also allow us to progress work for the clinical development of our lead program, MDG1015, which remains on track for IND/CTA approval in the second half of 2024."

4,152,247 new shares were subscribed for as part of the subscription rights offer by shareholders exercising their subscription and oversubscription rights. This reflects a subscription ratio of 84.52%. 760,284 new shares not subscribed for by existing shareholders or holders of subscription rights were placed with European investors. Therefore, the backstop guarantee was not required.

Members of the management and Supervisory Board of Medigene AG also participated in the capital raise.

Following the entry of the capital increase in the Commercial Register of the Local Court of Munich, the new share capital of the company amounts to EUR 29,475,189.00 and is divided into 29,475,189 no-par value registered shares.

The Company is currently evaluating the impact on its cash runway.

CapSolutions GmbH and its tied agent MC Services AG were jointly responsible for the placement as sole bookrunner. The technical execution of the capital increase was supported by Baader Bank AG.

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About Medigene AG

Medigene AG (FSE: MDG1) is an immuno-oncology platform company dedicated to developing differentiated T cell therapies for treatment of solid tumors. Its End-to-End Platform is built on multiple proprietary and exclusive technologies that enable the Company to generate optimal T cell receptors against both cancer testis antigens and neoantigens, armor and enhance these T cell receptor engineered (TCR) -T cells to create best-in-class, differentiated TCR-T therapies, and optimize the drug product composition for safety, efficacy and durability. The End-to-End Platform provides product candidates for both its own therapeutics pipeline and partnering. Medigene's lead TCR-T program MDG1015 is expected to receive IND/CTA approval in the second half of 2024. For more information, please visit https://medigene.com/

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. This trademark may be owned or licensed in select locations only.

Medigene AG

Pamela Keck

Phone: +49 89 2000 3333 01

E-mail: [email protected]