30.08.2017 | press release, Aktuell

CO.DON AG – Capital increase without subscription rights planned


Berlin / Teltow, 30 August 2017 - On 30 August 2017 the Executive Board of CO.DON AG, Teltow, voted to increase the company's share capital by up to 10% by issuing new shares from Authorised Capital for subscription in cash. The resolution is still subject to the approval of the Supervisory Board. The share issue will exclude shareholders' subscription rights in accordance with section 186 para. 3 sentence 4 Stock Corporation Act.

Dirk Hessel, CEO of co.don AG: In July 2017 we obtained EU marketing authorisation for our autologous human pharmaceutical product to treat degenerative and traumatic cartilage defects in the knee, so achieving CO.DON AG's primary strategic objective. This milestone is of crucial importance for our company the stage is now set: in the multi-million euro market segment to which we now have access we are currently the only authorised cell-based pharmaceutical, and it is likely to stay that way for several years. The additional funds are to be used partly to accelerate the launch of our new EMA-approved product Spherox in other European countries, in order to seize this opportunity to address the market quickly and across the board. We are also planning further ahead: To continue our dynamic growth trend we are looking at markets outside the European economic area. This capital increase will be the first step towards building a modular production facility that can be scaled up at any time.

About CO.DON AG: CO.DON AG develops, produces and markets in Germany autologous cell therapies for the minimally invasive repair of cartilage damage in joints following traumatic or degenerative defects. CO.DON condrosphere is a cell therapy product that uses only the patient's own cartilage cells ("autologous chondrocytes"). CO.DON condrosphere has been used for more than 10 years in over 150 clinics to treat more than 11,000 patients. In Germany the statutory health insurance companies have paid for the treatment of knee and hip joints since 2007 and for the treatment of vertebral joints since 2008. In July 2017 the company received EU marketing authorisation for its articular cartilage product, which is to be distributed under the name of Spherox. The shares in CO.DON AG are listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227). Executive Board: Dirk Hessel (CEO), Ralf M. Jakobs (CFO).

 

More information can be found at www.ihre-zellzuechter.de or www.codon.de

 

Investor Relations and Press Contact:

Matthias Meißner, M.A.

Corporate communications / IR / PR

Tel. +49 (0)30 240352330                        

Fax +49 (0)30 240352309                        

Email: ir@codon.de


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