Brief: Medigene Sells Remaining Rights And Inventories Of Veregen To Aresus

Medigene AG

08/04/2019 15:25

April 8 (Reuters) - Medigene AG  MDG1k.DE :
    * MEDIGENE SELLS REMAINING RIGHTS AND INVENTORIES OF
VEREGEN® TO
ARESUS PHARMA
    * ALL EXISTING RELEVANT CONTRACTS WITH DISTRIBUTION PARTNERS
AND
EXTERNAL SERVICE PROVIDERS WILL BE TRANSFERRED FROM MEDIGENE TO
ARESUS
    * COMPLETES TRANSFORMATION INTO A PURE IMMUNOTHERAPY COMPANY
    * MEDIGENE WILL RECEIVE UP TO APPROXIMATELY EUR 7.75 MILLION
FROM
ARESUS FOR REMAINING VEREGEN® RIGHTS AND ALL EXISTING API STOCK
    * MEDIGENE'S EBITDA WILL BE AFFECTED BY A NON-CASH EFFECTIVE
LOSS
BETWEEN EUR 4 AND 5 MIO
    * EXPECTED PAYMENTS ARE RECOGNIZED AS RECEIVABLES AND
DISCOUNTED
IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS
    * MEDIGENE WILL UPDATE ITS FINANCIAL GUIDANCE WITH RESPECT
TO
REVENUE AND EBITDA WITH ISSUING ITS QUARTERLY STATEMENT
    * CLOSING OF TRANSACTION INCLUDING TRANSFER OF RIGHTS IS
PLANNED
FOR MID-APRIL 2019

Source text for Eikon:  urn:newsml:reuters.com:*:nPexDW1Zra
Further company coverage:  MDG1k.DE 

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