On the heels of a PhIII implosion, cancer biotech Mologen is turned over to the liquidator
The 31 staffers left at German biotech Mologen are now working for a liquidator. And the focus now is on finding buyers for anything it has left that can be sold.
Mologen filed for insolvency a few days ago, months after its lead drug — the TLR9 agonist lefitolimod — failed badly in Phase III.
Back in August the company reported that their drug produced a near mirror image result for median overall survival in comparison to the control group in a Phase III. Their OS rate was 22 months when the drug was used as a second-line therapy for colorectal cancer. That compared to 21.9 months for the comparison group. And secondary endpoints didn’t provide any reason to hope for something better.
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