MolMed

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MOLMED is an Italian biotechnology company founded in 1996 in Milan, where it has its registered and operational headquarters. It originally operated as a contract manufacturing organization, and provided other services for companies developing gene therapy and cell therapy products. In 2000, the company changed its business model and started to develop products of its own. [1] It is now focused on research, development, and clinical validation of innovative therapies for the treatment of cancer. [2]

Contents

Its headquarters are located within the San Raffaele Biomedical Science Park (which includes the hospital of the same name, a research institute, and a private university), and an operational site in Bresso at OpenZone. [2]

History

The company was founded by Claudio Bordignon in 1996 as a joint venture between Science Park Raf and Boehringer Mannheim [3] , with the aim of creating a structure specialized in the ex vivo manipulation of human cells to provide gene therapy services for experimental clinical protocols.

During its first three years, during which the acquisition of Boehringer Mannheim by Roche took place, Roche sold its stake in MolMed to the venture capital fund EDCP [3] , and MolMed developed its own technologies and expertise in the field of patient-specific gene and cell therapy.

In 2000 MolMed's business model changed from a service company to a product-oriented biopharmaceutical company, and the company added to its service activities those typical of a bio-pharmaceutical development firm, focusing on new therapies for the treatment of cancer.

In 2001, MolMed signed an agreement with San Raffaele Hospital which gave MolMed an option to license any gene therapy or cell therapy invention made at the hospital in the fields of cancer and HIV. [4]

In 2002 the company acquired and incorporated Genera S.p.A., the research company of the San Raffaele Scientific Institute, and in 2004 three major Italian private investors joined MolMed's shareholder base: Fininvest, Herule Finance (later H-Equity S.r.l.), and La Leonardo Finanziaria (now Delfin S.à r.l.), through a capital increase of 20 million euros. [3]

In 2006 a capital increase of 16 million euros took place and in 2007 another of 10 million euros [3] , leading up to the company's stock market listing in 2008 with a public offering (IPO) of 25% of its shares [3] [5] , through which 56 million euros were raised before expenses. The total number of shares issued was 105,207,808 (100% ordinary shares without nominal value). [6] Finally, in 2010 a rights issue capital increase was carried out [7] (58 million euros before expenses), with one new share issued for each share outstanding, for a total of 210,415,616 shares issued (100% ordinary shares without nominal value). [8]

In early 2015, MolMed partnered with GlaxoSmithKline related to GSK's acquisition of Strimvelis; MolMed had been involved in the early development of the product. [9] In March 2020, Fininvest, the reference shareholder with 23.13%, announced its intention to participate in the total takeover bid of the Japanese Agc (Mitsubishi) at the price of 0.518 euros per share, with a 110% premium compared to the price recorded in the session of the previous day (0.24 euro). [10] [11] As of 2020, the company is known as AGC Biologics. [12]

In March 2020 Fininvest, the reference shareholder with 23.13%, announced that it would join the full takeover bid by the Japanese company AGC (Mitsubishi) at a price of €0.518 per share, with a premium of 110% compared with the price recorded in the previous trading session (€0.24). [13] [14] The offer valued the entire company at €240 million. For Fininvest this represented a capital gain of €30 million. [13] H-Invest (1.52%), owned by Ennio Doris, also joined the transaction. [13] At the end of the takeover bid the company's shares were delisted. [14]

Products

MolMed's product portfolio includes antitumor therapeutics in clinical and preclinical development:

References

  1. ↑ "MolMed Company Overview". The San Raffaele Biomedical Science Park.
  2. 1 2 "MolMed S.p.A." PharmaBoardroom. 20 May 2016. Retrieved 10 March 2026.
  3. 1 2 3 4 5 Listing Prospectus, Borsa Italiana, 19 February 2008, pp. 82–84
  4. ↑ Taylor, Nick Paul (April 16, 2015). "MolMed picks up CAR-T asset from hot Italian research institute". FierceBiotech.
  5. ↑ Notice regarding the result of the Global Offering Archived 13 March 2016 at the Wayback Machine , company announcement of 4 March 2008
  6. ↑ IPO MolMed Archived 6 March 2016 at the Wayback Machine , Borsa Italiana
  7. ↑ Prospectus for Rights Issue Capital Increase , Borsa Italiana, 23 June 2010
  8. ↑ Final results of the rights issue capital increase Archived 12 March 2016 at the Wayback Machine , company announcement of 2 August 2010
  9. ↑ Taylor, Nick Paul (September 2, 2016). "GSK dials up value of MolMed gene therapy pact to support growing operation". FierceBiotech.
  10. ↑ "Molmed, Opa dei giapponesi di Agc. Per Berlusconi 30 milioni di plusvalenza". Affaritaliani.it (in Italian). Retrieved 2022-12-08.
  11. ↑ "Opa giapponese su Molmed, la biotech dei Berlusconi per la lotta ai tumori". la Repubblica (in Italian). 2020-03-17. Retrieved 2022-12-08.
  12. ↑ "MolMed S.p.A Becomes AGC Biologics S.p.A Following the July Acquisition". AGC. 2020-10-27. Retrieved 2024-03-26.
  13. 1 2 3 Andrea Deugeni (17 March 2020). "MolMed, takeover bid by Japan's AGC. For Berlusconi €30 million capital gain" . Retrieved 19 March 2020.
  14. 1 2 "Japanese takeover bid for MolMed, the Berlusconi biotech firm fighting cancer". 17 March 2020. Retrieved 19 March 2020.
  15. ↑ Prospectus for Rights Issue Capital Increase , Borsa Italiana, 23 June 2010, pp. 122–128
  16. ↑ Prospectus for Rights Issue Capital Increase , Borsa Italiana, 23 June 2010, pp. 106–122
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