Shareholders of Molecular Partners AG approve all Board proposals at the Annual General Meeting – Bill Burns elected new Chairman
Zurich-Schlieren, Apil 18, 2018. At today’s Annual General Meeting of Molecular Partners AG (SIX: MOLN), the shareholders of the company approved all motions proposed by the Board of Directors with a large majority and elected William (Bill) Burns as new Chairman of the Board.
At today’s Annual General Meeting of Molecular Partners AG, Bill Burns was elected new Chairman of the Board of the company. Bill held various executive positions at Roche for 28 years, culminating in his nomination to the position of CEO of Roche Pharmaceuticals and board seats at Roche, Genentech and Chugai Pharmaceuticals. The company will benefit from Bill’s vast experience in the development and commercialization of drugs, particularly in oncology, and extensive knowledge of pharmaceutical industry operations.
Bill Burns commented: “I thank our shareholders for their trust. Together with my colleagues of the Board of Directors we maximize all efforts and look ahead on a continuation of the progress of the company’s pipeline which we were able to witness already during the first quarter of 2018.”
Bill Burns, Göran Ando, Gwen Fyfe, Steven H. Holtzman, William A. Lee, Petri Vainio and Patrick Amstutz were re-elected as members of the Board of Directors. The shareholders also elected the three proposed members of the Nomination and Compensation Committee – Bill Burns, Göran Ando and William A. Lee.
Further, the shareholders of Molecular Partners AG approved the annual report and the annual financial statements for the financial year 2017, the appropriation of the 2017 results, 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 2017.
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 and also approved all proposals regarding compensation, including the proposed respective compensation amounts for the Board of Directors and the Management Board.
About the DARPin® Difference
DARPin® therapeutics are a new class of protein therapeutics opening an extra dimension of multi-specificity and multi-functionality. DARPin® candidates are potent, specific, safe and very versatile. They can engage in more than 5 targets at once, offering potential benefits over those offered by conventional monoclonal antibodies or other currently available protein therapeutics. The DARPin® technology is a fast and cost-effective drug discovery engine, producing drug candidates with ideal properties for development and very high production yields.
With their good safety profile, low immunogenicity and long half-life in the bloodstream and the eye, DARPin® therapies have the potential to advance modern medicine and significantly improve the treatment of serious diseases, including cancer and sight-threatening disorders. Molecular Partners is partnering with Allergan to advance clinical programs in ophthalmology, and is advancing a proprietary pipeline of DARPin® drug candidates in oncology. The most advanced global product candidate is abicipar, a molecule currently in Phase 3, in partnership with Allergan.
Several DARPin® molecules for various ophthalmic indications are also in development. The most advanced systemic DARPin® molecule, MP0250, is in Phase 1 clinical development for the treatment of solid tumors and in Phase 2 development for hematological tumors. In addition, Molecular Partners intends to further evaluate MP0250 for solid tumors in a phase 1b/2 trial for EGFR-mutated NSCLC. MP0274, the second-most advanced DARPin® drug candidate in oncology, has broad anti-HER activity; it inhibits HER1, HER2 and HER3-mediated downstream signaling via Her2, leading to induction of apoptosis. MP0274 has moved into Phase 1. Molecular Partners is also advancing a growing preclinical pipeline that features several immuno-oncological development programs. DARPin® is a registered trademark owned by Molecular Partners AG.
About Molecular Partners AG
Molecular Partners AG is a clinical-stage biopharmaceutical company that is developing a new class of therapies known as DARPin® therapies. With a management team that includes many of the founding scientists, the company continues to attract talented individuals who share the passion to develop breakthrough medicines for serious diseases. Molecular Partners has compounds in various stages of clinical and preclinical development and several more in the research stage, with a current focus on ophthalmology and oncology. The company establishes research and development partnerships with leading pharmaceutical companies and is backed by established biotech investors.
For more information regarding Molecular Partners AG, go to: www.molecularpartners.com.
- April 26, 2018 – Q1 2018 Management Statement
- August 30, 2018 – Publication of 2018 Half-year Results
- November 01, 2018 – Q3 2018 Management Statement
For further details, please contact:
Dr. Patrick Amstutz, CEO
Tel: +41 (0) 44 755 77 00
Tel: +41 (0) 44 755 77 00
Tel: +41 (0) 43 344 42 42
Susan A. Noonan
S.A. Noonan Communications, LLC
Tel: +1 212 966 3650
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.
* DARPin® is a registered trademark owned by Molecular Partners AG