Idorsia holds its Annual General Meeting of Shareholders
- All Board proposals approved by the shareholders
Allschwil, Switzerland – June 13, 2024
At today’s Annual General Meeting (AGM) of Idorsia Ltd (SIX: IDIA) held in Basel, Switzerland, shareholders voted in favor of all proposals by the Board of Directors with very large majorities.
The meeting was attended by 201 shareholders, representing a total of 90,297,668 shares, or 47.78% of the total outstanding shares.
Led by the Chairman of the Board, Mathieu Simon, and Jean-Paul Clozel, who was the Chief Executive Officer for the year under review, the company presented the progress being made by the team at Idorsia.
Mathieu Simon, MD, new Vice-Chairman and Lead Independent Director of Idorsia, commented:
“In the last seven years Idorsia has made huge progress on all fronts. We have brought three drugs to the market, built a global marketing organization, and launched QUVIVIQ in the US and main European countries. In addition, we created a late-stage pipeline, continued to discover new drugs, re-acquired aprocitentan from Johnson & Johnson, and secured financing for all these achievements. It is reassuring to see that our shareholders appreciate what has been achieved and believe in the future of Idorsia by giving the new management team and the Board their endorsement through their votes. I would like to welcome Bart Filius to the board and congratulate Jean-Paul for election as Chairman. I’m confident that with the new composition, we are well prepared for the next chapter of Idorsia’s story.”
Jean-Paul Clozel, MD, new Chairman of the Board of Directors, commented:
“I would like to thank our shareholders for the trust they place in the Board and in me as the new Chairman. Today, a new phase will begin for Idorsia. In the coming months, the priorities will be to finance Idorsia, improve the commercial performance with QUVIVIQ, prepare for the launch of TRYVIO, and reinforce the pipeline. I am confident that Idorsia will soon return to a situation where the priority will be scientific and commercial excellence rather than financing. This will require the full commitment of the whole Idorsia team, and as a Board we are here to support them wherever needed.”
The shareholders approved the Annual Report 2023, the Consolidated Financial Statements 2023, and the Statutory Financial Statements 2023. Shareholders also endorsed the Compensation Report 2023 and the Sustainability Report 2023 by way of consultative vote.
The shareholders approved the appropriation of available earnings and that the net profit for the year 2023 be carried forward.
The shareholders granted discharge to all members of the Board of Directors and of the Executive Committee for the financial year 2023.
The shareholders approved the amendments to the company Articles of Association regarding share capital.
The shareholders re-elected all Board members who stood for re-election and elected Bart Filius as a new Board member for a term of office until the conclusion of the AGM 2025. In addition, the shareholders elected Jean-Paul Clozel as Chairman of the Board, and the members of the Nominating, Governance and Compensation Committee: Srishti Gupta (Committee Chair), Sophie Kornowski, and Mathieu Simon.
Following the AGM, the Board of Directors of Idorsia comprises a total of 6 members: Jean-Paul Clozel (Chairman), Mathieu Simon (Vice-Chairman and Lead Independent Director), Srishti Gupta, Sophie Kornowski, Sandy Mahatme, and Bart Filius.
Shareholders approved the aggregate maximum amount of compensation for the Board of Directors (Non-Executive Directors) for the term of office until the AGM 2025 and aggregate maximum amount of compensation for the Idorsia Executive Committee (IEC) for the financial year 2025.
BachmannPartner AG, who was represented by Mr Alain Bachmann, was re-elected as Independent Proxy for a term of office until the conclusion of the AGM 2025.
Deloitte AG, Basel, was elected as the company's statutory auditors for the financial year 2024 (for a term of office until the conclusion of the AGM 2025).
Notes to the editor
About Idorsia
Idorsia Ltd is reaching out for more – We have more ideas, we see more opportunities and we want to help more patients. In order to achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.
Headquartered near Basel, Switzerland – a European biotech-hub – Idorsia is specialized in the discovery, development and commercialization of small molecules to transform the horizon of therapeutic options. Idorsia has a 25-year heritage of drug discovery, a broad portfolio of innovative drugs in the pipeline, an experienced team of professionals covering all disciplines from bench to bedside, and commercial operations in Europe and North America – the ideal constellation for bringing innovative medicines to patients.
Idorsia was listed on the SIX Swiss Exchange (ticker symbol: IDIA) in June 2017 and has over 750 highly qualified specialists dedicated to realizing our ambitious targets.
For further information, please contact
Andrew C. Weiss
Senior Vice President, Head of Investor Relations & Corporate Communications
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.com
media.relations@idorsia.com
www.idorsia.com
The above information contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected.
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