April 28, 2017
Basilea shareholders approve all resolutions proposed by the Board of Directors at the Ordinary General Meeting of Shareholders
Basel, Switzerland, April 27, 2017 - Basilea Pharmaceutica Ltd. (SIX: BSLN) reported that at today's Ordinary General Meeting of Shareholders for the financial year 2016, shareholders approved all agenda items proposed by the Board of Directors.
The shareholders approved the annual report, the financial statements, and consolidated financial statements for the business year 2016, and approved the release of the members of Basilea's Board of Directors and Management Committee. Shareholders also approved carrying forward the accumulated deficit, and re-elected PricewaterhouseCoopers AG, Basel as Statutory Auditors for the audit of the stand-alone and consolidated financial statements for the business year 2017.
The shareholders elected Dr. Nicole Onetto as a new member of Basilea's Board of directors and re-elected Domenico Scala as Chairman and Prof. Daniel Lew, Dr. Martin Nicklasson, Dr. Thomas M. Rinderknecht, Steven D. Skolsky and Dr. Thomas Werner as members of the Board of Directors. The shareholders also re-elected Dr. Nicklasson, Mr. Skolsky and Dr. Werner as members of the Compensation Committee. Dr. Caroline Cron was re-elected as Independent Voting Rights Representative. The terms of all these individuals last until the end of the 2018 Ordinary General Meeting of Shareholders.
"I am delighted that Nicole Onetto has been elected as a new member of the Board of Directors," said Domenico Scala, Chairman of the Board of Directors. "Her wealth of experience both operationally and strategically in developing and bringing innovative oncology drugs to patients will further strengthen the Board's oncology expertise."
The shareholders also approved the increase of the authorized share capital.
Finally, the shareholders approved the proposed maximum aggregate amount of the compensation for the Board of Directors for the period until the 2018 Ordinary General Meeting, the maximum aggregate amount of fixed compensation for the Management Committee for the period of July 1, 2017 to June 30, 2018, and the maximum aggregate amount of variable compensation for the Management Committee for the period from January 1, 2017 to December 31, 2017. In a non-binding advisory vote, the shareholders also approved the aggregate amount of the Management Committee's variable compensation for the business year 2016.
In his presentation to the shareholders at the meeting, Chief Executive Officer Ronald Scott highlighted the achievement of the key company goals set for 2016. He reported that the antifungal drug Cresemba® (isavuconazole) was launched and is available to patients in key European markets. Additionally, Basilea concluded development and commercialization partnerships for Cresemba and Basilea's antibiotic Zevtera® (ceftobiprole) covering more than forty countries. Moreover, Basilea entered into a contract in 2016 with the Biomedical Advanced Research and Development Authority (BARDA) for the clinical phase 3 development of ceftobiprole. He explained that the total contract amount could reach up to USD 100 million in non-dilutive funding.
Mr. Scott said: "Our first achievements in 2017 include the agreement of Special Protocol Assessments with the US FDA for two ceftobiprole phase 3 studies. We are now preparing to initiate these studies in bloodstream and skin infections with the ultimate goal of gaining regulatory approval of ceftobiprole in the United States."
In addition, he indicated that Basilea continues to focus on increasing the sales of Cresemba and Zevtera, entering into additional collaborations to make Cresemba and Zevtera available in further territories around the world, and advancing its oncology compounds.
At the meeting, 31.5 percent of Basilea's share capital was represented. Currently, 60.5 percent of the total shares outstanding are registered in Basilea's share registry.
Basilea Pharmaceutica Ltd. is a biopharmaceutical company developing products that address the medical problem of increasing resistance and non-response to current treatment options in the therapeutic areas of bacterial infections, fungal infections and cancer. The company uses the integrated research, development and commercial operations of its subsidiary Basilea Pharmaceutica International Ltd. to discover, develop and commercialize innovative pharmaceutical products to meet the medical needs of patients with serious and life-threatening conditions. Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland and listed on the SIX Swiss Exchange (SIX: BSLN). Additional information can be found at Basilea's website www.basilea.com.
This communication expressly or implicitly contains certain forward-looking statements concerning Basilea Pharmaceutica Ltd. 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 Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. 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.
For further information, please contact:
| Peer Nils Schröder, PhD |
Head Corporate Communications & Investor Relations
+41 61 606 1102
This press release can be downloaded from www.basilea.com.