Poxel Announces Results from June 23, 2021 Ordinary Annual and Extraordinary General Meeting
June 24 2021 - 11:45AM
Business Wire
- Shareholders approved all proposed resolutions
POXEL SA (Euronext – POXEL - FR0012432516), a biopharmaceutical
company focused on the development of innovative treatments for
metabolic disorders, including type 2 diabetes and non-alcoholic
steatohepatitis (NASH) announced that it held its ordinary annual
and extraordinary general meeting of shareholders on June 23, 2021.
The meeting was held in a closed session and was chaired by Pierre
Legault, Chairman of the Board of Directors, without the physical
presence of the shareholders.
With a quorum of 48.317%, the shareholders approved all the
resolutions that were recommended by the Board of Directors,
including the financial statements for the 2020 financial year, the
compensation policy applicable to the Chairman, the Chief Executive
Officer and the Directors, as well as delegations related to
financial transactions granted to the Board of Directors.
Shareholders also approved the renewal of Richard Kender and the
appointment of John W. Kozarich as Board members.
Details on the voting results, as well as the presentation that
was made during the meeting, will be available later today on the
company’s website, in the Investors / Shareholder Info / Annual
General Meeting Documents section.
About Poxel SA
Poxel is a dynamic biopharmaceutical company that uses
its extensive expertise in developing innovative drugs for
metabolic diseases, with a focus on type 2 diabetes and
non-alcoholic steatohepatitis (NASH), and selected rare
inherited disorders including adrenoleukodystrophy. In its
mid-to-late-stage pipeline, the Company is currently advancing
three drug candidates; several earlier-stage opportunities are also
underway. Imeglimin, Poxel’s first-in-class lead product, targets
mitochondrial dysfunction. Poxel has a strategic partnership with
Sumitomo Dainippon Pharma for TWYMEEG® (Imeglimin) in Japan, China,
South Korea, Taiwan and nine other Southeast Asian countries. A new
drug application for TWYMEEG for the treatment of type 2 diabetes,
was approved in Japan. After successfully completing a Phase 2a
proof-of-concept trial for the treatment of NASH, which met its
primary objectives, for PXL770, a first-in-class direct
adenosine monophosphate-activated protein kinase (AMPK) activator,
Poxel plans to initiate a Phase 2b program in the second half of
2021. PXL770 could also have the potential to treat additional
metabolic diseases. PXL065 (deuterium-stabilized
R-pioglitazone) is in a streamlined Phase 2 trial for the treatment
of NASH. Poxel also has additional earlier-stage programs from its
AMPK activator and deuterated TZD platforms targeting chronic and
rare metabolic diseases. The Company intends to generate further
growth through strategic partnerships and pipeline development.
Listed on Euronext Paris, Poxel is headquartered in Lyon, France,
and has subsidiaries in Boston, MA, and Tokyo, Japan. For more
information, please visit: www.poxelpharma.com
In the context of the COVID-19 outbreak, which was declared a
pandemic by the World Health Organization (WHO) on March 12, 2020,
the Company is regularly reviewing the impact of the outbreak on
its business.
As of the date of this press release, and based on publicly
available information, the Company has not identified the
occurrence of any material negative effect on its business due to
the COVID-19 pandemic that remains unresolved. However, the Company
anticipates that the COVID-19 pandemic could have further material
negative impact on its business operations. The worldwide impact of
COVID-19 may notably affect the Company’s internal organization and
efficiency, particularly in countries where it operates and where
confinement measures are implemented by the authorities. In
addition, COVID-19 may impact market conditions and the Company’s
ability to seek additional funding or enter into partnerships.
Particularly, delays in the supply of drug substance or drug
products, in the initiation or the timing of results of preclinical
and/or clinical trials, as well as delays linked to the
responsiveness of regulatory authorities could occur, which could
potentially have an impact on the Company’s development programs
and partnered programs. The Company will continue to actively
monitor the situation.
All statements other than statements of historical fact included
in this press release about future events are subject to (i) change
without notice and (ii) factors beyond the Company’s control. These
statements may include, without limitation, any statements preceded
by, followed by or including words such as “target,” “believe,”
“expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,”
“project,” “will,” “can have,” “likely,” “should,” “would,” “could”
and other words and terms of similar meaning or the negative
thereof. Forward-looking statements are subject to inherent risks
and uncertainties beyond the Company’s control that could cause the
Company’s actual results or performance to be materially different
from the expected results or performance expressed or implied by
such forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210624005527/en/
Poxel SA Elizabeth Woo Senior Vice President, Investor
Relations, Corporate Communications and Public Relations
Elizabeth.woo@poxelpharma.com
Catherine David Investor Relations & Communication Manager
catherine.david@poxelpharma.com +33 7 64 57 61 78
Investor relations / Media - EU/US Trophic Communications
Stephanie May or Valeria Fisher poxel@trophic.eu +49 171 185 56 82
or +49 175 804 1816
Investor relations / Media - France NewCap Emmanuel Huynh
or Arthur Rouillé poxel@newcap.eu +33 1 44 71 94 94
Poxel (EU:POXEL)
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