ARTICLE | Company News

Medigene acquires cancer immunotherapy play Trianta

January 28, 2014 12:51 AM UTC

Medigene AG (Xetra:MDG1) acquired Trianta Immunotherapies GmbH (Planegg-Martinsried, Germany) in a deal worth up to EUR 9.5 million ($13.1 million). Trianta was spun out of German research center Helmholtz Zentrum Muenchen late last year. Medigene gains three T cell immunotherapy programs, including an autologous dendritic cell vaccine platform in Phase II testing in prostate cancer and in Phase I/II testing for acute myelogenous leukemia (AML). The other programs are preclinical-stage platforms for modifying T cell receptors to enhance tumor immunity and for generating mAbs that directly target T cell receptors to treat T cell leukemias and autoimmune disease.

Trianta shareholders will receive 1 million new Medigene shares up front, or about a 9% stake. The shares are worth about EUR 3.7 million ($5 million) based on Medigene's close of EUR 3.60 on Friday, the last trading day before the deal was announced. Trianta shareholders will also be eligible for up to EUR 5.9 million ($8 million) in milestones in either Medigene shares or cash. ...