Zurich-Schlieren, Switzerland, April 29, 2020. At today’s Annual General Meeting of Molecular Partners AG (SIX: MOLN), a clinical-stage biotech company that is developing a new class of custom-built protein therapeutics known as DARPin® therapeutics, the shareholders of the company approved all motions proposed by the Board of Directors with a very large majority.
In light of the current situation around the Corona virus and in line with the applicable Swiss regulation, this year’s Annual General Meeting was conducted solely by voting through the independent proxy and without physical attendance of shareholders.
The shareholders of the company elected Sandip Kapadia, Michael Vasconcelles and Vito J. Palombella as new members of the Board of Directors of Molecular Partners. The three new Board members bring extensive expertise in the fields of oncology drug discovery, translational science, clinical development, portfolio management, commercial product launch, and capital formation to the company.
Bill Burns, Gwen Fyfe, Steven H. Holtzman and Patrick Amstutz were re-elected as members of the Board of Directors for a term of office until the 2021 Annual General Meeting. Bill Burns was also re-elected as Chairman of the Board of Directors. The shareholders further elected the three proposed members of the Nomination and Compensation Committee – Bill Burns, Steven H. Holtzman and Michael Vasconcelles.
The election of the three new board members coincided with the departure of Goran Ando, William Lee and Petri Vainio from the Board of Directors of Molecular Partners. Each of these board members has dutifully served on the board of the company for 10 years or more and did not stand for re-election at today’s Annual General Meeting.
“As we welcome our three new Board members, I wish to extend my thanks to our outgoing board members. For more than ten years, Goran, Bill and Petri have been guiding hands to this company. All three remain aligned with the vision of Molecular Partners, and I know that they will continue to support the company as individuals, and investors, well into the future. We wish them all the best in their future endeavors,” commented Bill Burns today’s successful transition of the Board.
KPMG AG Zurich was re-elected as the Group’s statutory auditors for the financial year 2020 and Anwaltskanzlei Keller KLG, Zurich, elected as the independent proxy for a term of office until the 2021 Annual General Meeting.
The shareholders of the company renewed the authorization of the Board of Directors of Molecular Partners AG to increase the share capital of the company within a period of two years. The Annual General Meeting approved all (binding) motions regarding compensation of the Board of Directors and the Management Board. Further, the shareholders of Molecular Partners AG approved the annual report and the annual financial statements for the financial year 2019, the appropriation of the 2019 results, the appropriation of reserves, as well as the compensation report (in a consultative vote). The Board of Directors and the Management Board were granted discharge for the financial year 2019.
Financial Calendar
| May 7, 2020 | Interim Management Statement Q1 2020 |
| August 26, 2020 | Publication of Half-year Results 2020 (unaudited) |
| October 29, 2020 | Interim Management Statement Q3 2020 |
http://investors.molecularpartners.com/financial-calendar-and-events/
About DARPin® therapeutics
DARPin® therapeutics are a new class of custom-built protein therapeutics based on natural binding proteins that open a new dimension of multi-functionality and multi-target specificity in drug design. A single DARPin® candidate can engage more than five targets, and its flexible architecture and small size offer benefits over conventional monoclonal antibodies or other currently available protein therapeutics. DARPin® therapeutics have been clinically validated through to registration via the development of abicipar, Molecular Partners’ most advanced DARPin® drug candidate. The DARPin® platform is a fast and cost-effective drug discovery engine, producing drug candidates with optimized properties for development and very high production yields. DARPin® is a registered trademark owned by Molecular Partners AG.
About Molecular Partners AG
Molecular Partners AG is a clinical-stage biotech company developing a new class of custom-built proteins known as DARPin® therapeutics, designed to address challenges current modalities cannot. The company has compounds in various stages of clinical and preclinical development with a focus on oncology. Molecular Partners has formed partnerships with leading pharmaceutical companies to advance DARPin® therapeutics across multiple therapeutic areas.
For more information regarding Molecular Partners AG, go to: www.molecularpartners.com.
For further details, please contact:
Seth Lewis, SVP IR, Comms, & Strategy
seth.lewis@molecularpartners.com
Tel: +1 781 420 2361
Lisa Raffensperger, International Media
lisa@tenbridgecommunications.com
Tel: +1 617 903 8783
Thomas Schneckenburger, IR & Media
thomas.schneckenburger@molecularpartners.com
Tel: +41 79 40799522
Disclaimer
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Molecular Partners AG. This publication may contain certain forward-looking statements and assessments or intentions concerning the company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place reliance on these statements, particularly not in connection with any contract or investment decision. The company disclaims any obligation to update these forward-looking statements, assessments or intentions.
