Edison ups Medigene’s valuation to 208 million euros from 175 million euros following share placing
Edison Investment Research said it has raised its valuation on Germany’s Medigene (FRA: MDG1) to 208 million euros ($231.5 million) or 10.60 euros per share from 175 million euros, following the company’s fund raising program.
The broker in a research note said the biotech company’s recent 46 million euros capital increase will allow the completion of the Phase I/II dendritic (DC) vaccine trial by 2018 and also help the initiation of a broad immunotherapy clinical programme in TCR (adoptive T cell therapy).
The DC vaccine has technical advantages and also holds great promise as mono or combination therapy, the broking firm said.
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