ASIT Biotech SA

11/14/2019 | Press release | Distributed by Public on 11/14/2019 16:08

ASIT biotech: Declaration of dissociation of a member of the Board of Directors at the General Assembly

ASIT biotech: Declaration of dissociation of a member of the Board of Directors at the General Assembly

14 Nov 2019 23:00 CET

Company Name

ASIT

ISN

BE0974289218

Market

Euronext

Symbol

ASIT

Regulatory News:

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ASIT biotech (BSE:ASIT) (Paris:ASIT) (ASIT - BE0974289218), a Belgian biopharmaceutical company specialized in research and development of innovative allergy immunotherapy products, announces that during today's Extraordinary General Assembly, one of its Directors, Mr Everard van der Straten, former Chief Financial Officer of ASIT biotech, whose functions and service agreement were terminated by decision of the Board of Directors on 14 January 2019, declared to dissociate itself from the decision of the Board of Directors to ratify the private placement of the convertible bonds issued by ASIT biotech on 28 June 2019. The minutes of today's Extraordinary General Assembly are hereby attached.

The rest of the members of the Board of Directors (8 out of 9), unanimously, considers that, following the placement and creation of a book building by Bryan Garnier & Co Limited, acting as bookrunner, the private placement of the convertible bonds issued on 28 June 2019 with an important discount compared to the stock market price, was carried out in accordance with the applicable provisions of the Belgian Companies Code and in accordance with the report of the Board of Directors of 28 May 2019 established according to Articles 583 and 596 of the Belgian Companies Code.

Louis Champion, Chairman of the Board of Directors, said: 'Each Director has the right to express his or her opinion, even if it does not reflect the majority of its members. The Board as a whole supports Michel Baijot and his team who have undertaken remarkable efforts to transform the company: successfully complete a pivotal Phase III study, the results of which are expected in the coming weeks, and ensure its independence in terms of manufacturing. I am proud of what the company has accomplished over the past year and will continue to strive for its success with the Board.'

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About ASIT biotech

ASIT biotech is a Belgian clinical stage biopharmaceutical company focused on the development and future commercialization of a range of breakthrough immunotherapy products for the treatment of allergies. Thanks to its innovative ASIT+™ technology platform, ASIT biotech is currently the only developer of allergy immunotherapy (AIT) product candidates consisting of a unique mixture of highly purified natural allergen fragments in an optimal size selection. This innovation results in a short treatment, expected to improve patient compliance and real-life effectiveness. ASIT biotech's product pipeline contains three novel ASIT+™ product candidates targeting respiratory allergies with the highest prevalence (i.e. grass pollen: gp-ASIT+™ - in ongoing phase III - and house dust mite: hdm-ASIT+™), and food allergies (peanut allergy: pnt-ASIT+™) that could significantly expand the current immunotherapy market. The Company believes that its innovative ASIT+™ platform is flexible and would be applicable across a range of allergies.

Further information can be found at www.asitbiotech.com.

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Legal notice

This announcement is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy or subscribe for the Company's shares in any jurisdiction. This announcement does not constitute a prospectus. Any purchase of, subscription for or application for, Shares to be issued in connection with the intended offering should only be made on the basis of information contained in the prospectus and any supplements thereto, as the case may be.

Forward-looking statements

This release may contain forward-looking statements. Such forward-looking statements are not guaranteeing future results. These forward-looking statements speak only as of the date of publication of this document. The Company expressly disclaims any obligation to update any forward-looking statements in this document, unless specifically required by law or regulation.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191114005896/en/

Company
Michel Baijot, CEO
ASIT biotech
Tel.: +32 2 264 03 90
[email protected]

Investor Relations
LifeSci Advisors LLC
Hans Herklots
Tel.: +41 79 598 7149
[email protected]

Media Relations
Sophie Baumont
Tel.: +33 627 74 74 49
[email protected]

Source

ASIT BIOTECH

Provider

BusinessWire