02 June 2018
RELIEF THERAPEUTICS Holding SA (SIX:RLF) (“Relief” or “Company”) announces that at yesterday’s Annual General Meeting 2018 (“AGM”), the shareholders approved all agenda items proposed by the Board of Directors with large majority of the represented votes.
The agenda of the AGM covered the following items:
1) Approval of the Annual Report, Statutory Financial Statements and Consolidated Financial Statements for the year 2017, 2) Appropriation of Results, 3) Discharge of the members of the Board of Directors and of the Executive Committee, 4) Binding votes on the compensation of the members of the Board of Directors and of the Executive Committee and consultative vote on the Compensation Report, 5) Elections of the Board of Directors, Chairman of the Board of Directors, Nomination and Compensation Committee, Independent Proxy Holder and Auditors.
1’147’875’296 shares representing 57.20% of the shares issued and 65.95% of the voting rights were represented at the AGM.
The shareholders approved the annual report, the statutory financial statements and the consolidated financial statements for the year 2017.
The shareholders agreed to carry forward the loss for the year 2017 in the amount of CHF 1’745’204 leading to an accumulated loss at the end of the period of CHF 95’442’922.
The shareholders granted discharge to all the members of the Board of Directors and of the Executive Committee for their activities during the financial year 2017. In particular, the General Meeting granted discharge to Dr. Dreano, Dr. Hedou and Dr. Sagot for their services from the 17th of February until the 31st of December 2017.
The shareholders approved the proposed compensation of CHF 200’000 for the members of the Board of Directors from this AGM to that of 2019 and the compensation of CHF 1’500’000 for the members of the Executive Committee for the year 2019.
The General Meeting decided to re-elect for the period of one year between the AGM 2018 until the AGM 2019, the previous members of the Board of Directors, namely Dr. Raghuram Selvaraju, Dr. Michel Dreano and Mr. Peter De Svastich.
In addition, Dr. Michel Dreano and Mr. Peter de Svastich were re-elected as members of the Nomination and Compensation Committee. The Geneva-based law firm Bugnon Ballansat Ehrler was elected by the shareholders as independent proxy holder until the next AGM to replace the firm Gloor and Ruggli Partner (GRP) from Zurich that has been warmly thanked. Finally, the firm Mazars was re-elected by the shareholders as the statutory auditor for a term of office until the next AGM of 2019.
RELIEF THERAPEUTICS Holding AG is a clinical stage biotechnology company with a portfolio of drug candidates derived from natural human origins. Its two most promising drug candidates are aviptadil for the treatment of sarcoidosis (to enter Phase III) and low dose interleukin-6 (atexakin alfa) for the treatment of peripheral diabetic neuropathy (to enter Phase II). Aviptadil development in sarcoidosis focuses the drug on an orphan disease market, in which European regulators have indicated that a single pivotal Phase III trial would be sufficient to support approval. Atexakin alfa is the subject of an exclusive worldwide development and commercialization agreement with Merck KGaA, and has been the subject of multiple clinical trials. Based on its unique mechanism of action, atexakin alfa could become the first regenerative therapeutic for peripheral neuropathy. The peripheral diabetic neuropathy market is estimated to reach $4.1 billion in 2019, according to Datamonitor.
RELIEF THERAPEUTICS Holding AG is listed on the SIX Swiss Exchange under the symbol RLF.
This communication expressly or implicitly contains certain forward-looking statements concerning Relief Therapeutics Holding AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Relief Therapeutics Holding AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Relief Therapeutics Holding AG is providing this communication as of this date and does not undertake to update any forward looking statements contained herein as a result of new information, future events or otherwise.