TMCnet News
co.don Aktiengesellschaft: shareholders' meeting approves all proposals - Executive Board and Supervisory Board see company well on track(DGAP Corporate News Via Acquire Media NewsEdge) (DGAP-Media / 02.09.2014 / 15:58) Press release co.don AG - shareholders' meeting approves all proposals - Executive Board and Supervisory Board see company well on track Teltow/Berlin, 02.09.2014 - The annual general meeting of co.don AG (ISIN DE000A1K0227) took place in Berlin on 27 August 2014. Dr Andreas Baltrusch, chief executive of co.don AG, reported on the financial year 2013 and the course of business in the first half of 2014. "We have achieved ambitious targets and see ourselves well on track", said Dr Baltrusch. "Revenue increased in the first half of 2014 by around 17% year on year, and for the first time we reported a slightly positive EBITDA before strategic expenses (for EMA approval)." "The two Phase 2 and Phase 3 clinical trials for EU-wide marketing authorisation from the European Medicines Agency (EMA) for our patented pharmaceutical product are progressing well", added Vilma Methner, Director of Clinical Research and Regulatory Affairs. Joint defects are becoming more and more widespread in the population at large. Experts put the market potential for joint-preservation therapies in Germany alone at EUR250 million p.a. and at over EUR1.0 billion p.a. for the whole of Europe. So the clinicial trials being carried out by co.don AG are welcomed as an extremely positive signal, not only in Germany. The Executive Board reported on the successful capital increase in spring 2014, which was oversubscribed by 72%, and the shareholders were obviously pleased with the share performance, which has risen to around the EUR2.50 mark. "The Executive Board and all the staff thank the existing and new shareholders for their trust. The massive oversubscription shows the level of interest in the co.don business case", said Dr Baltrusch. The proceeds of some EUR4.95 million from the capital increase are mainly to be used to carry out further clinical trials to obtain central EU-wide approval for the cell-based articular cartilage product. The shareholders' meeting approved the proposal from the Executive Board and Supervisory Board to alter authorised capital. The change again gives the company the statutory instrument of authorised capital, which makes it possible to increase share capital by up to EUR6,861,184 until 31 July 2018 and so to boost the company's equity if needed. The members of the Executive Board and Supervisory Board were exonerated for the 2013 financial year. The attendance figures and the result of voting on the agenda items for the shareholders' meeting can be found at: http://www.codon.de/investoren/hauptversammlung 2014.html About co.don(R) AG: The biopharmaceutical company is one of the leading specialists worldwide in cell cultivation for the regenerative treatment of articular cartilage defects and spinal disc defects. In many cases the use of the company's patented pharmaceutical product can avert the need for joint and spinal disc replacement surgery. Orthopaedic, accident and neuro-surgeons are increasingly applying these regenerative treatment methods. co.don(R) AG is listed on the Frankfurt Stock Exchange (ISIN: DE000A1K0227). The company's Executive Board consists of Dr. Andreas Baltrusch (CEO, CFO) and Ms Vilma Methner (COO, CSO). Further information about co.don(R) AG can be found at: www.ihre-zellzuechter.de and www.codon.de Contact: Matthias Meißner, M.A. Corporate Communications / IR / PR Tel. +49 (0)3328-43460 Fax +49 (0)3328-434643 [email protected] End of Media Release --------------------------------------------------------------------- Issuer: co.don Aktiengesellschaft Key word(s): Enterprise 02.09.2014 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: co.don Aktiengesellschaft Warthestraße 21 14513 Teltow Germany Phone: 03328 43460 Fax: 03328 434643 E-mail: [email protected] Internet: www.codon.de ISIN: DE000A1K0227 WKN: A1K022 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, Berlin - Tradegate Exchange, Düsseldorf, Hamburg, Stuttgart End of News DGAP-Media --------------------------------------------------------------------- 285207 02.09.2014 |