MARTINSRIED, Germany and SAN DIEGO, March 2 /PRNewswire-FirstCall/ -- The Executive Board of the German-American biotech company MediGene AG (Frankfurt, Prime Standard: MDG, TecDAX) has decided in agreement with the Supervisory Board, to increase the share capital by EUR 1,852,260.00 from EUR 18,768,192.00 to 20,620,452.00. The shares are being issued from authorized capital against cash. In the course of the private placement the shares will be issued at a price of EUR 8.45 without subscription rights for existing shareholders. The price is calculated as the average of the last five closing prices of MediGene-shares on XETRA-trading at the Frankfurt Stock Exchange less a five percent discount. The issuance of 1.85 million new shares will increase MediGene's liquid funds by EUR 15.6 MM. Institutional investors already committed irrevocably to subscribe to the new shares. According to company�s statements the capital increase will extend MediGene 's financial flexibility and increase the current amount of cash to about EUR 53 MM. Dr. Peter Heinrich, Chief Executive Officer of MediGene AG, comments: "We are very proud that several renowned investors from Europe and the USA participate in this capital increase. The increasing revenues from commercialization of our drugs and our further improved cash position will enable us to continuously pursue our development projects, and to add new products to our portfolio, should the situation arise." No offer: This announcement does not constitute, or form part of an offer or solicitation of an offer to purchase or subscribe for securities in the United States or any other jurisdiction. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an available exemption from registration. No public offering of securities is being made in the United States. This press release contains forward-looking statements that involve risks and uncertainties. The forward-looking statements contained herein represent the judgement of MediGene as of the date of this release. These forward-looking statements are no guarantees for future performance, and the forward-looking events discussed in this press release may not occur. MediGene disclaims any intent or obligation to update any of these forward-looking statements. MediGene(TM) is a trademark of MediGene AG. MediGene AG is a publicly quoted (Frankfurt: TecDAX), German-American biotechnology company located in Martinsried, Germany and San Diego, USA. MediGene is the first German biotech company with a drug on the market. The NDA for a second drug, Polyphenon(R) E Ointment, has been submitted. In addition, MediGene has several oncological drug candidates undergoing clinical development, and possesses innovative platform technologies for drug development. MediGene's core competence lies in research into and development of novel approaches for the treatment of various cancer and tumor diseases. DATASOURCE: MediGene AG CONTACT: MediGene AG, , or Fax - +49-89-85-65-2920; or Dr. Georg Donges, Public Relations, +49-89-85-65-3317; or Dr. Michael Nettersheim, Investor Relations, +49-89-85-65-2946

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