Ordinary General
Meeting of Shareholders of Probiodrug AG
All proposed resolutions approved
with large majority
HALLE (SAALE),
Germany, 14 June 2017 - Probiodrug AG (Euronext Amsterdam:
PBD), a biopharmaceutical company developing novel therapeutic
solutions to treat Alzheimer's disease (AD), announces that its
Ordinary General Meeting of shareholders was held on 13 June
2017.
All resolutions proposed by the
Company's Management and Supervisory Board were approved at the
meeting with a large majority:
-
Adoption of a resolution on the approval of the
actions of the management board members for the financial year
2016
-
Adoption of a resolution on the approval of the
actions of the supervisory board members for the financial year
2016
-
Election of the financial statements auditor for
the financial year 2017
-
Elections to the supervisory board
-
Resolution on the creation of the Authorized
Capital 2017 concurrently cancelling the Authorized Capital 2014 as
well as the corresponding amendments to the Articles of
Association
-
Resolution on the specification of the number of
the Supervisory Board members as well as the corresponding
amendment to the Articles of Association
Regarding the elections to the
Supervisory Board - Dr Erich Platzer, Dr Dinnies von der Osten and
Dr Jörg Neermann were re-elected as Supervisory Board Members. In
its first meeting after the Ordinary General Meeting of
Shareholders the Supervisory Board re-elected Dr Erich Platzer as
Chairman and Dr Dinnies von der Osten as Vice-Chairman and Chairman
of the Audit Committee.
Dr Konrad Glund,
Chief Executive Officer of Probiodrug AG, said: "We were glad
to report a very successful year 2016 - and, with the release of
the promising top line data of our phase 2a trial, the SAPHIR
trial, also a very encouraging development in 2017 so far. We would
like to take the opportunity to thank all our employees, advisors
and consultants, members of the supervisory board, partners and
shareholders for their commitment, trust and support. It has been
an exciting journey so far and, with the encouraging phase 2a data
of PQ912 in our hands, we look forward to the further development
of the anti pGlu Abeta approach."
68,15 % of the voting shares were
represented at the 2017 Probiodrug AG AGM.
###
For more
information, please contact:
Probiodrug
Dr Konrad Glund, CEO
Email: contact@probiodrug.de
Hume
Brophy
Conor Griffin, Alexander Protsenko, Jonothan Blackbourn
Tel: +44 (0) 20 7862 6381
Email: probiodrug@humebrophy.com
The Trout
Group
Tricia Truehart
Tel: +1 (646) 378-2953
Email: ttruehart@troutgroup.com
MC Services AG
Anne Hennecke, Caroline Bergmann
Tel: +49 (0) 211 529 252 20
Email: probiodrug@mc-services.eu
Notes to
Editors:
About Probiodrug
AG
Headquartered in Halle (Saale),
Germany, Probiodrug AG (Euronext Amsterdam: PBD) is a
biopharmaceutical company focused on the development of new
therapeutic products for the treatment of Alzheimer's disease.
Founded in 1997, the company
successfully developed a novel therapeutic concept for diabetes -
the DP4 inhibitors - which provided the basis for a novel class of
antidiabetics - the gliptins. Its core capabilities are based on
its long-standing expertise in the elucidation of the structure and
function of enzymes involved in the modification of proteins and
peptides, which play a central role in pathological conditions.
Today Probiodrug's aim is to
become a leading company in the development of Alzheimer's disease
treatments and to thereby provide a better life for Alzheimer's
disease patients. It has identified a new therapeutic concept
linked to disease initiation and progression. The development
approaches are targeting pyroglutamate-Abeta (pGlu-Abeta) as a
therapeutic strategy to fight Alzheimer's disease. The Company has
medical use and composition of matter patents related to the
inhibition of Glutaminyl Cyclase (QC) and anti-pGlu-Abeta- specific
monoclonal antibodies, providing it, in the Company's view, with a
leading position in this field of research.
Probiodrug's lead product
candidate, PQ912, is a highly specific and potent inhibitor of
Glutaminyl Cyclase (QC), which has shown therapeutic effects in
Alzheimer's animal models. In a Phase 1 study with healthy young
and elderly volunteers, PQ912 was shown to be safe and well
tolerated and also revealed a high QC-inhibition. PQ912 was
evaluated in a Phase 2a study, the SAPHIR trial, where the compound
showed encouraging effects pointing to a direct effect on
pGlu-Abeta with beneficial effects on synaptic function.
www.probiodrug.de
About Alzheimer's
disease
Alzheimer's disease is a
neurological disorder, which is the most common form of dementia,
and ultimately leads to death. Because Alzheimer's disease cannot
be cured and is degenerative, the affected patients must
increasingly rely on others for assistance. Today, 47 million
people live with dementia worldwide, and this number is projected
to treble to more than 131 million by 2050, as populations age.
Dementia also has a huge economic impact. Alzheimer's has an
estimated, global societal cost of US$ 818 billion, and it will
become a trillion dollar disease by 2018. (World Alzheimer Report
2016).
Forward Looking
Statements
Information set
forth in this press release contains forward-looking statements,
which involve a number of risks and uncertainties. The
forward-looking statements contained herein represent the judgment
of Probiodrug AG as of the date of this press release. Such
forward-looking statements are neither promises nor guarantees, but
are subject to a variety of risks and uncertainties, many of which
are beyond our control, and which could cause actual results to
differ materially from those contemplated in these forward-looking
statements. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any such statements to
reflect any change in our expectations or any change in events,
conditions or circumstances on which any such statement is
based.