Santhera Provides Corporate Update and Calls Extraordinary General Meeting to Seek Approval for Further Financings
Ad hoc announcement pursuant to Art. 53 LR
Pratteln, Switzerland, November 24, 2021 – Santhera Pharmaceuticals (SIX: SANN) provides an update on its activities and is calling an Extraordinary General Meeting (EGM), which will be held on December 15, 2021, at 10:30 hrs at the domicile of the Company. At the EGM, Santhera seeks authorization for additional funding to enable continued pipeline development and preparations for the commercialization of vamorolone.
In the course of this year, Santhera has seen significant progress in its pipeline development and organizational restructuring which resulted in a significantly lower cost base, and the Company has implemented various measures to strengthen its capital structure.
Vamorolone for the treatment of Duchenne muscular dystrophy (DMD)
Lonodelestat a neutrophil elastase inhibitor (hNE) in development to treat cystic fibrosis (CF)
EGM for Financing Purposes
Santhera will require additional funding during 2022 to enable continued pipeline development and preparations for the commercialization of vamorolone. For this purpose, the Board of Directors (BoD) is calling an extraordinary shareholders' meeting (EGM), to be held on December 15, 2021, and proposes various capital increases to Santhera’s shareholders. These should give the Company a flexible instrument enabling the BoD to issue, without delay, new shares for financing purposes at a moment favorable to Santhera and to use such shares as underlying of existing share delivery obligations of Santhera which otherwise have to be covered by shares from other sources as well as to enable continued pipeline development and preparations for the commercialization of vamorolone.
The BoD proposes:
If the ordinary capital increase can be fully consummated within three months from the date of the EGM, then in a second step, both the authorized capital and the conditional capital for financing would be increased again by CHF 10,000,000 each.
Invitation and agenda items for the EGM
The invitation and agenda items for the Extraordinary General Meeting can be viewed on Santhera’s website at https://www.santhera.com/investors-and-media/investor-toolbox/share-bondholder-meetings.
Raxone® is a trademark of Santhera Pharmaceuticals.
Disclaimer / Forward-looking statements
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