MedinCell: reporting of the Annual General Meeting


Adoption of all the proposed resolutions, except for the 34th and 36th resolutions, as recommended by the Management Board

Announcement of the departure of Jaime Arango, Chief Financial Officer, replaced by Stéphane Postic

MONTPELLIER, France--(BUSINESS WIRE)-- Regulatory News:

MedinCell's (Paris:MEDCL) Ordinary Annual and Extraordinary General Meeting was held on September 12, 2023, at the company's headquarters (3 rue des Frères Lumière, 34830 Jacou). It was chaired by Mr. Anh Nguyen, Chairman of MedinCell's Supervisory Board.

With a quorum of 62.70% the shareholders have adopted the resolutions proposed by the Management Board, including the approval of the annual consolidated accounts for exercise ended March 31, 2023, the remuneration policy applicable to the Chairman and members of the management board, to the Chairman and the members of the Supervisory Board as well as financial delegations granted to the management Board.

The General Meeting also renewed the mandates of four members of the Supervisory Board: Mr. Philippe Guy, Ms. Tone Kvåle, Ms. Virginie Lleu and Mr. Anh Nguyen.

As recommended by the Management Board, resolutions 34 and 36 were rejected.

The replay of the general meeting and the detailed voting results will soon be available on the MedinCell website.

MedinCell has also announced that its Chief Financial Officer and member of the Management Board, Jaime Arango, will leave the Company on September 27 to pursue other professional opportunities. He will be replaced by Stéphane Postic during a transition period. The company will take advantage of this period to adapt the financial and capital markets functions to its new challenges.

Graduated from EM Lyon, Stéphane Postic has more than 25 years of experience in finance, including 20 years in supporting biotechnology companies, including Genfit (Euronext: GNFT), Da Volterra, and Egle Therapeutics. He managed corporate finance, participated in financing and IPO operations and notably interacted with the European Investment Bank.

"I would like to thank Jaime for his commitment and contribution to MedinCell's success. He supported the Company through its IPO and the commercialization of our first product UZEDY,” said Christophe Douat, Chairman of MedinCell's Management Board. “MedinCell has entered a new era that will require strengthening our financial and capital markets functions to adapt them to the next stage of our growth. Welcome to Stéphane, who will give MedinCell the full benefit of his experience.”

About MedinCell

MedinCell is a commercial-stage technology pharmaceutical company developing long-acting injectable drugs in many therapeutic areas. Our innovative treatments aim to guarantee compliance with medical prescriptions, to improve the effectiveness and accessibility of medicines, and to reduce their environmental footprint. They combine already known and used active ingredients with our proprietary BEPO® technology which controls the delivery of a drug at a therapeutic level for several days, weeks or months from the subcutaneous or local injection of a simple deposit of a few millimeters, entirely bioresorbable. The first treatment based on BEPO technology, intended for the treatment of schizophrenia, was approved by the FDA in April 2023, and is now distributed in the United States by Teva under the name UZEDY™ (BEPO technology is licensed to Teva under the name SteadyTeq™).

We collaborate with leading pharmaceutical companies and foundations to improve global health through new treatment options. Based in Montpellier, MedinCell currently employs more than 140 people representing more than 25 different nationalities.

UZEDY™ and SteadyTeq™ are trademarks of Teva Pharmaceuticals.

This press release is for information purposes only. The information contained herein 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, in particular in France. Similarly, this press release does not constitute investment advice and should not be treated as such. It is not related to the investment objectives, financial situation, or specific needs of any recipient. It should not deprive the recipients of the opportunity to exercise their own judgment. All opinions expressed in this document are subject to change without notice. The distribution of this press release may be subject to legal restrictions in certain jurisdictions. Persons who come to know about this press release are encouraged to inquire about, and required to comply with, these restrictions.

David Heuzé - Head of Communications / +33 (0)6 83 25 21 86

Investor Relations France Louis-Victor Delouvrier/Alban Dufumier / +33 (0)1 44 71 94 94

Media Relations Nicolas Mérigeau / +33 (0)1 44 71 94 94

Head of US Strategy – Investor Relations Grace Kim / +1 (646) 991-4023

Source: MedinCell