Milan, Italy – 19 September 2012 – Newron Pharmaceuticals S.p.A. (“Newron”, SWX: NWRN), a research and development company focused on Central Nervous System (CNS) and pain therapies, announced that at its Shareholder’s Meeting held today, 19 September 2012, in Bresso (MI), Italy, the following decisions were taken:
As for the capital increase required for the acquisition of NeuroNova AB, although a clear simple majority of shares represented in the meeting voted in favour of the motion, the required 2/3rd majority was not met; therefore, the motion was rejected.
As a consequence, no vote was taken on the other dependent motions, including a waiver of a capital increase, a change of statutes and election of new board members.
At the Shareholders’ meeting, 49.67 % of the company’s total capital of 8,789,893 shares, were represented.
Rolf Stahel, Chairman of Newron, said: "We appreciate the significant increase of shareholders’ registering compared to the previous meeting. Still, the 2/3rd majority required for approval of the capital increase was very closely missed (at 66.32% of the required 66.67%), mostly because an important shareholder opposing the transaction with NeuroNova has significantly increased its stake ahead of today’s meeting. We accept the vote by the shareholders represented today. Newron’s Board and management will now assess the options going forward. Having recently raised limited new funds, our strategy remains to develop certain pipeline projects through to the next value inflexion point. Safinamide is still our key priority in terms of completing the preparations for submission to file. Strengthening Newron’s pipeline and shareholder base will stay in our focus.”
About Newron Pharmaceuticals
Newron (SIX: NWRN) is a biopharmaceutical company focused on novel therapies for diseases of the Central Nervous System (CNS) and pain. The Company is headquartered in .Bresso near Milan, Italy. Phase III trials of safinamide for the treatment of Parkinson’s disease (PD) have recently been completed. Based on the phase III results of safinamide, Newron is working to expedite the global filing of the compound, together with its partners. Zambon Group has the rights to commercialise safinamide globally, excluding Japan and other key Asian territories, and Meiji Seika has the rights to develop and commercialise safinamide in Japan and other key Asian territories. Newron’s additional projects are primarily addressed towards highly promising rare diseases and are at various stages of preclinical and clinical development, including sarizotane for Rett’s syndrome, ralfinamide for specific pain indications, and NW-3509 as potential first add-on therapy for the treatment of schizophrenia. http://www.newron.com
For more information, contact:
Media | Investors and analysts |
Italy Stefan Weber - CEO Phone: +39 02 6103 46 26 E-mail: pr@newron.com UK/Global media Julia Phillips FTI Consulting Phone: +44 (0) 20 7269 7187 Switzerland Martin Meier-Pfister IRF Communications Phone: +41 43 244 81 40
| Stefan Weber - CEO Phone: +39 02 6103 46 30 E-mail: ir@newron.com |
Important Notices
This document contains forward-looking statements, including (without limitation) about (1) Newron’s ability to develop and expand its business, successfully complete development of its current product candidates and current and future collaborations for the development and commercialisation of its product candidates and reduce costs (including staff costs), (2) the market for drugs to treat CNS diseases and pain conditions, (3) Newron’s anticipated future revenues, capital expenditures and financial resources, and (4) assumptions underlying any such statements. In some cases these statements and assumptions can be identified by the fact that they use words such as “will”, “anticipate”, “estimate”, “expect”, “project”, “intend”, “plan”, “believe”, “target”, and other words and terms of similar meaning. All statements, other than historical facts, contained herein regarding Newron's strategy, goals, plans, future financial position, projected revenues and costs and prospects are forward-looking statements.
By their very nature, such statements and assumptions involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described, assumed or implied therein will not be achieved. Future events and actual results could differ materially from those set out in, contemplated by or underlying the forward-looking statements due to a number of important factors. These factors include (without limitation) (1) uncertainties in the discovery, development or marketing of products, including without limitation negative results of clinical trials or research projects or unexpected side effects, (2) delay or inability in obtaining regulatory approvals or bringing products to market, (3) future market acceptance of products, (4) loss of or inability to obtain adequate protection for intellectual property rights, (5) inability to raise additional funds, (6) success of existing and entry into future collaborations and licensing agreements, (7) litigation, (8) loss of key executive or other employees, (9) adverse publicity and news coverage, and (10) competition, regulatory, legislative and judicial developments or changes in market and/or overall economic conditions.
Newron may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements and assumptions underlying any such statements may prove wrong. Investors should therefore not place undue reliance on them. There can be no assurance that actual results of Newron's research programmes, development activities, commercialisation plans, collaborations and operations will not differ materially from the expectations set out in such forward-looking statements or underlying assumptions.
Newron does not undertake any obligation to publicly up-date or revise forward looking statements except as may be required by applicable regulations of the SIX Swiss Exchange where the shares of Newron are listed.
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