Santhera Pharmaceuticals (SIX: SANN), a Swiss specialty pharmaceutical company focused on neuromuscular diseases, today announced that its Annual Shareholders' Meeting has approved the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements for 2008, as well as the proposed appropriation of the results. Shareholders also granted discharge to the members of the Board of Directors (Board) and management from liability. Jürg Ambühl was elected as new member of the Board while Michael Lytton, Hans Peter Hasler and Timothy Rink were re-elected. All motions passed with a vast majority. A total of 51.1% of the Company's share capital were represented at the Shareholders' Meeting.
Presentations to Shareholders
In his presentation to shareholders, Michael Lytton, Chairman of the Board, highlighted last year's successes. "2008 was a landmark year for Santhera as it became a product company. The launch of Catena® in Canada marks Santhera's transition from a development to an integrated specialty pharmaceutical company. With a commercial product in hand, we have laid the foundation for creating a sustainable business that will deliver novel neuromuscular therapeutics to orphan patient populations."
Klaus Schollmeier, Chief Executive Officer of Santhera, reported on the Company's significant achievements in 2008 and highlighted the successful launch of Catena® in Canada. Looking into 2009 and beyond, he said: "Santhera will generate important news flow in the upcoming months. This summer, we will report clinical data from our two core clinical development programs: the pivotal Phase III IONIA trial of Catena® for Friedreich's Ataxia in the United States, opening the path for regulatory submissions in the US and the EU; and the Phase IIb FJORD study of JP-1730/fipamezole for Dyskinesia in Parkinson's Disease, with the intention to partner this project for Phase III clinical development and subsequent commercialization. Another highlight of this summer will be the initiation of our pivotal Phase III trial with Catena® for the treatment of Duchenne Muscular Dystrophy. The outcome of these clinical trials will significantly shape the future of Santhera."
Approval of the financial report and appropriation of the results
Santhera's shareholders approved the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements for 2008. They also approved the proposed appropriation of the results, whereby the entire profit of CHF 25,842 was transferred to the free reserves. As a consequence, the Company's free reserves amount to CHF 148,418,397.
Discharge of and changes to the Board
Santhera's shareholders granted discharge to the members of the Board and to the members of the management from liability. The shareholders elected Jürg Ambühl, long-standing pharmaceutical executive and seasoned marketing specialist, as new member of the Company's Board for a term of two years until the ordinary Shareholders' Meeting in 2011. In addition, Michael Lytton and Hans Peter Hasler were re-elected for a term of one year each (until the Annual Shareholders' Meeting in 2010) and Timothy Rink for a term of three years (until the Annual Shareholders' Meeting in 2012). Rudolf Gygax, member of the Board since 2004, decided not to stand for re-election for personal reasons. Santhera expresses its sincerest thanks to Mr. Gygax for his merits and highly valued contributions. In its meeting immediately following the Shareholders' Meeting, the Board decided to replace Mr. Gygax by Mr. Ambühl as a member of the Board's Audit Committee and by Mr. Rink as a member of the Nomination & Compensation Committee.
Finally Ernst & Young was re-elected as auditors and group auditors for a period of one year.
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About Santhera
Santhera Pharmaceuticals (SIX: SANN) is a Swiss specialty pharmaceutical company focused on the discovery, development and commercialization of small-molecule pharmaceutical products for the treatment of severe neuromuscular diseases, an area of high unmet medical need which includes many orphan indications with no current therapy. Santhera's first product, Catena® has received marketing approval from Health Canada to treat Friedreich's Ataxia. The drug is investigated in two fully recruited pivotal trials in the United States and in Europe. The same compound has also shown efficacy in a clinical trial as a potential treatment for Duchenne Muscular Dystrophy. For further information, please visit the Company's Web site www.santhera.com.
Catena® is a trademark of Santhera Pharmaceuticals.
For further information, contact
Klaus Schollmeier, Chief Executive Officer
Phone: +41 (0)61 906 89 52
klaus.schollmeier@santhera.com
Barbara Heller, Chief Financial Officer
Phone: +41 (0)61 906 89 54
barbara.heller@santhera.com
Thomas Staffelbach, Head Public & Investor Relations
Phone: +41 (0)61 906 89 47
thomas.staffelbach@santhera.com
Disclaimer/Forward-looking statements
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Santhera Pharmaceuticals Holding AG. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.