Shareholders of Molecular Partners AG approved all Board proposals at the Annual General Meeting – Gwen Fyfe elected new Board member
Zurich-Schlieren, May 11, 2017. 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 Gwen Fyfe as new member of the Board of Directors.
At today’s Annual General Assembly of Molecular Partners AG, Gwen Fyfe was elected as new member of the Board of Directors. Gwen has more than 20 years of drug development experience in oncology. She held various positions at Genentech from 1997-2009, including vice president, oncology development, playing an important role in the development of Genentech’s approved oncology agents.
Jörn Aldag, chairman of Molecular Partners commented: “We are very pleased to welcome Gwen as a new member of our Board. With her large experience in clinical oncology development, Gwen is the ideal person to support the advancement of our product candidates in oncology.”
Jörn Aldag, Goran Ando, Jeffrey H. Buchalter, Steven H. Holtzman, William A. Lee, Andreas Plückthun and Petri Vainio were all re-elected as members of the Board of Directors and Jörn Aldag was re-elected as Chairman of the Board of Directors. The proposed three members of the Compensation Committee – Jörn Aldag, William A. Lee and Petri Vainio – were also re-elected.
Further, the shareholders of Molecular Partners AG approved the annual report and the annual financial statements for the financial year 2016, the appropriation of the 2016 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 2016.
The shareholders of Molecular Partners AG also approved all proposals regarding compensation, including the proposed respective compensation amounts for the Board of Directors and the Management Board.
No guidance can be provided with regard to net cash flow projections. Timelines and potential milestone payments for existing and potentially new partnerships are not disclosed.
|August 30, 2017||Publication of 2017 Half-year Results|
|October 26, 2017||Q3 2017 Management Statement|
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 engaging 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 moves into Phase 2 for hematological and later for solid tumors. 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 is currently moving in 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.
For further details please contact:
Dr. Patrick Amstutz, acting 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.