Press release
2018-03-16
Xbrane Biopharma hereby calls for an extraordinary general meeting on Tuesday, April 3, 2018 at. 17.30 in Spårvagnshallarna, Birger Jarlsgatan 57 A, Stockholm. The reason for the call for extraordinary general meeting is that Serendipity Group, which owns 11.47% of the shares in Xbrane, proposes to elect a new Chairman of the Board and to offer the Board of Directors the option to subscribe for shares and warrants in the company. The Board also proposes that persons in the management team who participated in the previous Long Term Incentive Program are offered to subscribe for warrants in the company. The shares and warrants are subscribed according to market conditions. The proposed issuance of shares and warrants would provide capital of ca. 3,4 million SEK to the company.
The proposal of new Chairman of the Board is Anders Tullgren. Anders Tullgren has over 30 years of global experience in the pharmaceutical industry with senior leadership roles in the United States, Germany, France, the United Kingdom and the Nordic region. The latest role he left in 2017 was as President of the Intercontinental region of Bristol Myers Squibb with responsibility for over 30 countries, 5,000 employees and a turnover of over 20 billion SEK.
The purpose of offering the board and management team to subscribe for shares and options is to ensure a common interest with the shareholders in the company.
"When the company gradually begins to establish sales through partners of its products, I think it is important to broaden the board with a person with solid experience in marketing and marketing of drugs. Anders has a long and successful commercial career behind the pharmaceutical industry and I am convinced that he would complement the board in an excellent way. It is encouraging to see that the the Board of Directors, and in particular the new proposed Chairman of the Board, makes a substantial investment in Xbrane which demonstrates its confidence in the company", comments Saeid Esmaeilzadeh, Chairman of the Board, Xbrane.
About Xbrane
Xbrane is a commercial phase Swedish biopharmaceutical company specialized in biosimilars and long-acting injectables. Xbrane has world leading expertise in developing generics for long-acting injectable drugs and proprietary high-yield protein expression technology for the development of biosimilars. Xbrane's headquarter is located in Stockholm and the company's in-house research and development facilities are in Sweden and Italy. Xbrane is listed at Nasdaq First North since February 3rd, 2016 under the name XBRANE and Avanza Bank AB is Xbrane's certified adviser. For more information see www.xbrane.com.
For further information, please contact:
Saeid Esmaeilzadeh, Chairman of he Board of Directors
M: +46 (0) 70 718 70 61
E: saeid@sdip.se
