- The resolution regarding the renewal of the authorization granted to the Board of Directors to use the authorized capital technique was rejected
- The Board of Directors approved the appointment of Mr. Louis Champion as Chairman of the Board and Mr. Michel Baijot as Managing Director
Regulatory News:
ASIT biotech (BSE:ASIT) (Paris:ASIT) (ASIT BE0974289218), a Belgian biopharmaceutical company specialized in the research and development of innovative allergy immunotherapy products, announces the decisions adopted at the Extraordinary Shareholders' Meeting of December 17, 2018 and the Board Meeting of December 18, 2018
This Extraordinary Shareholders' Meeting, called by ASIT Biotech's Board of Directors, provided an opportunity to have a discussion on whether the Company's strategy justifies or not the need to call for further authorized capital for a 5-year period. Shareholders overwhelmingly rejected this request and, accordingly, approved a renewal of the members of the Board of Directors.
The Extraordinary Shareholders' Meeting approved the appointment of two new Board members with recognized expertise in the field of immunotherapy and biotechs, namely Mr. Louis Champion and Mr. Michel Baijot, following the departure from the Board of Directors of Mr. Gerd Zettlmeissl, Mr. Thierry Legon and Mr. Jean Duchateau. The Board of Directors then today approved the appointment of Mr. Louis Champion as Chairman of the Board of Directors and Mr. Michel Baijot as Managing Director, providing the Company with significant expertise of the biotech and big pharma fields.
The Board of Directors would like to thank, for their considerable contributions, Mr. Zettlmeissl at the helm of the Board of Directors and Mr. Legon and Mr. Duchateau, the founders of ASIT Biotech and those behind the technology used and developed by the Company giving it the value it has today. Mr. Michel Baijot intends to make the most of Mr. Thierry Legon's collaboration to achieve the objectives defined by the new Board of Directors.
Mr. Louis Champion says: "Following the Extraordinary Shareholders' Meeting held on December 17, a renewed Board of Directors has been put in place and I am honored to be its Chairman. The work accomplished by the ASIT Biotech team headed by Thierry Legon is remarkable; nevertheless a shift in strategy has been decided. I will strive to realign the interests of the Company, its staff and its shareholders vis-à-vis a common industrial project in a considerate and rigorous manner. Today, our shareholders want us to focus the strategy on the success of the gp-ASIT+ Phase III study. Within this framework, Michel Baijot, as Managing Director, will table a proposal for redefining the resources that need to be implemented in the coming 3 months with the cooperation of Thierry Legon and with my full support. A Board Meeting will be held in mid-January 2019 to appraise the situation".
Mr. Michel Baijot adds: "ASIT Biotech is an innovative company in the field of allergy immunotherapy. ASIT Biotech's teams have accomplished exceptional work that has led to a Phase III study whose success is the pivotal factor for the Company's future. I am very enthusiastic about the prospects that this Phase III study gives a glimpse of. As Managing Director, my first task consists in defining the Company's priorities and aligning the necessary resources. I will then provide the Board with my proposals in terms of our organization and the means we need to mobilize to reach these objectives. I firmly believe that the combined knowledge and expertise of the members of this new Board of Directors will enable us, with ASIT Biotech's teams, to develop the technological platform that satisfies patients who are awaiting new treatments for allergies
A press release will be published following the next Board Meeting.
About ASIT biotech
ASIT biotech is a Belgian clinical stage biopharmaceutical company focused on the development and future commercialization of a range of breakthrough immunotherapy products for the treatment of allergies. Thanks to its innovative ASIT+ technology platform, ASIT biotech is currently the only developer of allergy immunotherapy (AIT) product candidates consisting of a unique mixture of highly purified natural allergen fragments in an optimal size selection. This innovation results in a short treatment, expected to improve patient compliance and real-life effectiveness. ASIT biotech's product pipeline contains three novel ASIT+ product candidates targeting respiratory allergies with the highest prevalence (i.e. grass pollen: gp-ASIT+ and house dust mite: hdm-ASIT+), and food allergies (peanut allergy: pnt-ASIT+) that could significantly expand the current immunotherapy market. The Company believes that its innovative ASIT+ platform is flexible and would be applicable across a range of allergies.
ASIT biotech has a headcount of 26 staff members, at its headquarters in Brussels and a laboratory in Liège, Belgium.
Further information can be found at www.asitbiotech.com
Forward-looking statements
All statements in this announcement that do not relate to historical facts and events are "forward-looking statements". In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "may," "will," "plans," "continue," "ongoing," "potential," "predict," "project," "target," "seek" or "should" or, in each case, their negative or other variations or comparable terminology or by discussions of strategies, plans, objectives, targets, goals, future events or intentions. Forward-looking statements include statements regarding the Company's intentions, beliefs or current expectations. By their nature, forward-looking statements involve known and unknown risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Given these risks and uncertainties, you should not rely on forward-looking statements as a prediction of actual results. Any forward-looking statements are made only as of the date of this announcement and, without prejudice to the Company's obligations under applicable law in relation to disclosure and ongoing information, the Company does not intend, and does not assume any obligation, to update the forward-looking statements set forth in this announcement.
Legal notice The Company is responsible for the information contained in this press release.
This announcement does not constitute, or form part of, an offer or invitation to sell or issue, or any solicitation of an offer to purchase or subscribe for shares of ASIT biotech SA (the "Company" and the "Shares"). Any purchase of, subscription for or application for, shares to be issued in connection with the intended offering should only be made on the basis of information contained in the prospectus and any supplements thereto, as the case may be. This announcement does not constitute a prospectus and the information contained herein is for information purposes only and does not purport to be full or complete. Investors should not subscribe for any Shares except on the basis of the information contained in the prospectus that the Company expects to publish after its approval by the Belgian Financial Services and Markets Authority, and which can then be obtained at the Company's registered office and on www.asitbiotech.com
This announcement is not for distribution, directly or indirectly, in or into the United States or to any U.S. person within the meaning of the U.S. Securities Act of 1933, as amended (the "Securities Act"). The Shares have not been and will not be registered under the Securities Act and may not be offered or sold in the United States, except pursuant to an exemption from the registration requirements of the Securities Act. The Company has not registered, and does not intend to register, any portion of the intended offering of Shares in the United States, and does not intend to conduct a public offering of Shares in the United States.
This announcement and the information contained herein are not for publication, distribution or release in or into the United States, Australia, Canada, Japan or any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181218005910/en/
Contacts:
Philippe Ghem
ASIT biotech
Tel.: +32 2 264 03 90
investors@asitbiotech.com
Media and Investor Relations France
NewCap
Dusan Oresansky Pierre Laurent
Tel.: +33 1 44 71 94 92
asitbiotech@newcap.eu
Media Relations Belgium
Laure-Eve Monfort
Tel.: +32 2 290 90 93
monfort@comfi.be