MolMed Shareholders’ Meeting confirms the appointment of a Member of the Board and approves Measures to be adopted pursuant to Article 2446 of the Italian Civil Code. Meeting of the Board of Directors: Professor Riccardo Cortese appointed as member of the Remuneration committee.
The Shareholders’ Meeting of MolMed S.p.A. (MLM.MI), chaired by Professor Claudio Bordignon, met today to resolve upon the items of the agenda.
Item 1 of the Ordinary part: proposal of confirmation of a Member of the Board of Directors, appointed pursuant to Article 2386 of the Italian Civil Code
The Shareholders’ Meeting confirmed the number of members of the Board of Directors as 13, as resolved by the ordinary General Meeting held on April the 23rd 2013, and confirmed the appointment of Professor Riccardo Cortese, who replaces Dr. Marco Bregni, as an independent and non-executive member of the Board.
Professor Cortese will remain in office for the remainder of the mandate of the Board, i.e. until approval of the Statutory Financial Statements as at 31 December 2015.
To his benefit, as resolved by the Board of Directors, the Shareholders’ Meeting set a compensation equal to the annual gross remuneration granted to each Director, on a pro quota basis for the duration of his mandate.
According to information received Director Riccardo Cortese does not hold any shares in the company.
The Professor Cortese’s curriculum vitae is publicly available on Company’s websitewww.molmed.com.
Item 1 of the extra-ordinary part: measures to be adopted pursuant to Article 2446 of the Italian Civil Code
The Meeting approved the balance sheet and income statement at 30 June 2013, which reports total loss of € 10,196,571 (for further information please refer to the press release issued on August the 1
St and to the balance sheet and income statement at 30 June 2013 available on Company’s website) and deferred any decision concerning losses resulting from approved balance sheet and income statement, carrying them forward to the next Statutory Financial Statements.
Meeting of the Board of Directors
Upon closure of the Meeting, the Board of Directors met and verified that Professor Riccardo Cortese meets the requirements of independence prescribed by Art. 148 of TUF and the Conduct Code, and therefore appointed him as an independent member of the Remuneration Committee, in place of Dr. Marco Bregni.
MolMed S.p.A. is a biotechnology company focused on research, development and clinical validation of novel anticancer therapies. MolMed’s pipeline includes two antitumour therapeutics in clinical development: TK, a cell-based therapy enabling bone marrow transplants from partially compatible donors, in absence of post-transplant immune-suppression, in Phase III in high-risk acute leukaemia; NGR-hTNF, a novel vascular targeting agent, in Phase III in malignant pleural mesothelioma and in Phase II in six more indications: colorectal, lung (small-cell and non-small-cell), liver and ovarian cancer, and soft tissue sarcomas. MolMed also offers top-level expertise in cell and gene therapy to third parties to develop, conduct and validate projects from preclinical to Phase III trials, including scale-up and cGMP production of clinical-grade viral vectors, and manufacturing of patient-specific genetically engineered cells. MolMed is headquartered at the San Raffaele Biomedical Science Park in Milan, Italy. The Company’s shares are listed on the main market (MTA) of the Milan Stock Exchange. (Ticker Reuters: MLMD.MI)