April 22, 2016
Basilea shareholders approve all resolutions proposed by the Board of Directors at the Ordinary General Meeting of Shareholders
Basel, Switzerland, April 21, 2016 - Basilea Pharmaceutica Ltd. (SIX: BSLN) reported that the shareholders approved all agenda items proposed by the Board of Directors at today's Ordinary General Meeting of Shareholders (AGM) for the financial year 2015. At the meeting, 33.2 percent of Basilea's share capital was represented.
The shareholders approved the annual report, the financial statements and consolidated financial statements for the business year 2015, and approved the release of the members of Basilea's Board of Directors and Management Committee. The 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 2016. Dr. Caroline Cron was re-elected as the Independent Voting Rights Representative.
Prof. Daniel Lew, Dr. Martin Nicklasson, Dr. Thomas M. Rinderknecht, Domenico Scala, Steven Skolsky and Dr. Thomas Werner were re-elected as members of the Board of Directors. The shareholders elected Mr. Scala as the Chairman of the Board of Directors. The shareholders also re-elected Dr. Nicklasson, Mr. Skolsky and Dr. Werner as members of the Compensation Committee. All terms last until the end of the 2017 AGM.
The shareholders also approved the proposed amendments to the Articles of Association related to removing stock options as an available form of Board compensation and approved CHF 1 million of authorized capital.
In addition, the shareholders approved the proposed maximum aggregate compensation of the Board of Director for the period from the 2016 AGM to the 2017 AGM. Regarding the Management Committee, the shareholders approved the maximum aggregate amount of fixed compensation for the period of July 1, 2016 to June 30, 2017, and the maximum aggregate amount of variable compensation for the period from January 1, 2016 to December 31, 2016. In a non-binding advisory vote, the shareholders also approved the aggregate amount of the Management Committee's variable compensation for the fiscal year 2015.
In his presentation to the shareholders at the AGM, Basilea's Chief Executive Officer Ronald Scott highlighted the important goals achieved in 2015 including gaining European approval for the antifungal drug isavuconazole. Isavuconazole has been launched thus far under the trade name CRESEMBA® in Germany and the UK. It is also approved in the U.S. where it is marketed by Basilea's license partner Astellas Pharma U.S. In addition, Mr. Scott indicated that Basilea has initiated discussions with GlaxoSmithKline for transferring the U.S. rights for the dermatology drug alitretinoin back to Basilea. This has no impact on Basilea's financial guidance but provides an option for potential future partnering. He also mentioned the recently announced contract with the Biomedical Advanced Research and Development Authority (BARDA), a division within the U.S. Department of Health and Human Services' Office of the Assistant Secretary for Preparedness and Response, for the phase 3 development aiming at regulatory approval of Basilea's broad-spectrum antibiotic ceftobiprole in the United States.
CEO Ronald Scott said: "We are focused in 2016 on additional European launches of CRESEMBA and on expanding market access of Zevtera in our key European markets. Furthermore, we intend to conclude license and distribution partnerships for these drugs in additional territories. After securing support from BARDA for a ceftobiprole clinical development program, we are seeking agreement with the U.S. FDA on Special Protocol Assessments, SPAs, for the phase 3 study protocols with the goal to initiate the first pivotal study by the end of this year or the beginning of next year. We will also continue to advance our oncology drugs in areas of high medical need such as brain cancer."
Basilea further announced the establishment of an Extended Management Committee (EMC). This will comprise the current Management Committee members plus Adesh Kaul, Head of Corporate Development, Dr. Josef Künzle, Head of Global Quality Management, and Elizabeth Rozek, General Counsel & Corporate Secretary. The additional members are not part of the Executive Committee which is discussed in the SIX Exchange Regulation Directive on Information relating to Corporate Governance.
Basilea Pharmaceutica Ltd. is a biopharmaceutical company developing products that address 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 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.