Polyphor shareholders approve all proposals at the Annual General Meeting 2020

Polyphor AG / Key word(s): AGMEGM

04-Jun-2020 / 17:35 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

Allschwil, Switzerland, June 4, 2020

Polyphor shareholders approve all proposals at the Annual General Meeting 2020
 

Polyphor AG (SIX: POLN) today announced that its shareholders approved all proposals of the Board of Directors at the 23rd Annual General Meeting with a significant majority. In line with the COVID-19 Ordinance 2 of the Swiss Federal Council, no shareholders were allowed to attend the General Meeting in person. The independent proxy represented 49.75 percent of the company's shares.

"On behalf of the board of directors, I want to thank Polyphor's shareholders for their trust and consent at today's AGM," said Kuno Sommer, Chairman of the Board of Directors. "Polyphor thus has the flexibility to continue the strong study progress with its phase III asset balixafortide and to implement the renewed strategy to improve its pipeline in oncology and novel antibiotics. We are fully aware of the duty that our shareholders have given us today with their approval and will passionately do everything in our power to live up to this trust for the benefit of patients and our company."

The members of the Board of Directors, Kuno Sommer, Bernard Bollag, Silvio Inderbitzin and Andreas Wallnöfer were re-elected for a further year in office. In addition, the shareholders confirmed Kuno Sommer as Chairman of the Board of Directors. Furthermore, the management report, the consolidated financial statements, and the annual financial statements for 2019 were approved.

In addition, the shareholders approved the renewal of authorized share capital (up to 5'531'603 registered shares), the creation of conditional share capital for bonds and similar debt instruments (up to 2'212'641 registered shares), the increase of conditional share capital for employee benefit plans (by 300'000 registered shares) and the corresponding changes to the articles of association.

AGM documents
The invitation with proposals and explanations on the agenda items is available on the Company's website at www.polyphor.com/investor-relations/corporate-governance.

For further information please contact:

For Investors:
Hernan Levett
Chief Financial Officer
Polyphor Ltd.
Tel: +41 61 567 16 00
Email: IR@polyphor.com

For Media:
Stephan Feldhaus
Feldhaus & Partner GmbH
Tel: +41 79 865 92 56
Email: feldhaus@feldhaus-partner.ch

About Polyphor
Polyphor is a research-driven clinical-stage, Swiss biopharmaceutical company committed to discovering and developing first-in-class molecules in oncology and antimicrobial resistance leveraging the company's leading macrocyclic peptide technology platform. Polyphor is advancing balixafortide (POL6326) in a Phase III trial in combination with eribulin in patients with advanced breast cancer and exploring its potential in other cancer indications. In addition, it has discovered and is developing the Outer Membrane Protein Targeting Antibiotics (OMPTA). OMPTA are potentially the first new class of antibiotics in clinical development in the last 50 years against Gram-negative bacteria. The company's lead OMPTA program is an inhaled formulation of murepavadin for the treatment of Pseudomonas aeruginosa infections in patients with cystic fibrosis. Polyphor is based in Allschwil near Basel and is listed on the SIX Swiss Exchange (SIX: POLN). For more information, please visit www.polyphor.com.

Disclaimer
This press release contains forward-looking statements which are based on current assumptions and forecasts of the Polyphor management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular Polyphor's results, financial situation, and performance. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Polyphor disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.