Novagali Pharma: Supervisory Board Strengthened Significantly
July 05 2011 - 3:15AM
Business Wire
Regulatory News:
Approval of all the resolutions proposed at
the Combined General Meeting of the shareholders on June 22,
2011
Novagali Pharma (Paris:NOVA), a pharmaceutical company
that develops innovative ophthalmic products, is today announcing
the approval by shareholders of all the resolutions proposed at the
Combined General Meeting that was held in Paris on June 22, 2011.
In particular, following this General Meeting, the Supervisory
board was strengthened significantly through the appointment of
prominent industry figures.
Shareholders approved all of the resolutions proposed, notably
the First and Second concerning the financial statements for the
year ended December 31, 2010, the appropriation of income and the
reconstitution of its equity capital. Shareholders noted at the
General Meeting that equity stood at €17,246,106 at
December 31, 2010.
In addition, the General Meeting approved the Sixth to Ninth
resolutions, as well as the Eleventh to Fourteenth resolutions,
respectively concerning the renewal of the terms of office of
certain Supervisory board members and the appointment of new
Supervisory board members.
Russell G. Greig, Bo Jesper Hansen and Nayan Greg Parekh thus
joined the Supervisory board of Novagali Pharma as independent
members:
- Mr Russell G. Greig is a doctor of
medicine. He spent around 30 years working for the GlaxoSmithKline
group, where he was notably Chief Executive Officer for the UK and
then Vice-President and Director of European Market Development for
SmithKline Beecham Pharmaceuticals. Following the merger of
SmithKline Beecham and Glaxo Wellcome in 2000, Dr Greig was
appointed Vice-President of Worldwide Business Development before
becoming President of GSK Pharmaceuticals International and then of
SR One, the GlaxoSmithKline group’s investment fund.
- Mr Bo Jesper Hansen is a doctor of
medicine. He is Chairman of the Board of Directors of Swedish
Orphan Biovitrum AB (listed company), and board member of MipSalus
ApS, TopoTarget A/S, Zymenex A/S, Incentive AB (part of the Gambro
group), Orphazyme A/S and Kontrast AB. He has held a number of
positions within Swedish Orphan International AB since 1993, before
becoming Chief Executive Officer in 1998 until 2010. He is also
Medical Advisor for Synthélabo, Pfizer, Pharmacia and Yamanouchi.
He founded Scandinavian Medical Research.
- Mr Nayan Greg Parekh is a doctor of
economics. Until 2010, he was head of mergers and acquisitions at
Novartis AG, overseeing more than 20 deals representing a total of
$70 billion, including the acquisition of Alcon (ophthalmology),
Ebewe (generics), Chiron (vaccines), Hexal (generics) and Eon Labs
(generics), as well as the sale of Gerber (food) and Medical
Nutrition (food). Before joining Novartis in 2004, he was
Vice-President of the healthcare team at Bear Stearns in New York,
and then headed up the European Healthcare Group at Deutsche Bank
AG in London for six years. He is the founder of the healthcare
investment fund New Rhein LLC Healthcare.
Moreover, Bernard Chauvin, who previously represented the
Siparex fund on the Supervisory board, has now joined Novagali
Pharma’s Supervisory board in a personal capacity.
The General Meeting also renewed the terms of office of Alain
Munoz and George Lasezkay, as well as of Edmond de Rothschild
Investment Partners and Auriga Partners, represented respectively
by Raphaël Wisniewski and Philippe Peltier.
Novagali Pharma’s Supervisory board now has nine members, six of
whom are independent. At its first meeting on June 22, 2011,
Russell G. Greig was elected as Chairman.
Jérôme Martinez, Chairman of Novagali Pharma’s Management board,
commented: “We are delighted to welcome prominent industry figures
Russell G. Greig, Bo Jesper Hansen and Nayan Greg Parekh as members
of our Supervisory Board. Their rich and eclectic careers reflect
the interest of the industry in the development of Novagali Pharma.
It represents a unique opportunity for Novagali Pharma to use this
expertise to capitalize successfully on its great potential.”
Russell G. Greig, Chairman of Novagali’s Supervisory board,
stated: “I have spent my whole career in the pharmaceutical
industry, and these many years of experience have also taught me to
spot the most promising companies. With a unique positioning as an
ophthalmology pure player, Novagali Pharma is active in a rapidly
growing market and is completing the development of products
satisfying unmet medical needs with proven medical value. I am
extremely pleased to be able to use my expertise to play a part in
accelerating the development of Novagali Pharma, a company with a
very bright future.”
About NOVAGALI Pharma
(www.novagali.com)Founded in 2000, Novagali Pharma SA is a
pharmaceutical company that develops ophthalmic innovative products
for all segments of the eye. Thanks to its three proprietary
technology platforms, the Company has an advanced portfolio of
highly innovative products, one of which is already on sale and two
of which are undergoing phase III clinical trials.In 2009, Frost
& Sullivan recognised Novagali with the Award for Industry
Innovation & Advancement of the Year, for its proprietary
emulsion technology platforms, and Siemens awarded the company the
“Health Award” Grand Prix de l’Innovation for Novasorb®. Novagali
Pharma carried out a successful IPO in July 2010 enabling the
Company to raise €22 million.Novagali Pharma is listed on NYSE
Euronext Paris - Compartment C. ISIN code: FR0010915553 - Ticker:
NOVA.
DisclaimerThis press release
contains forward-looking statements. Although Novagali Pharma
considers these statements to be based on reasonable assumptions,
they could be affected by risks and uncertainties causing actual
results to differ significantly from these forward-looking
statements. For details of the risks and uncertainties that could
potentially affect Novagali Pharma’s results, financial situation,
performances or achievements and thus result in a variation in
these figures compared to the forward-looking statements contained
in this document, please refer to the Risk Factors section of the
Document de Référence (reference document) registered with the
French Autorité des Marches Financiers (“AMF”) under n° R. 11-021
on April 29th 2011 and available on the AMF
(http://www.amf-france.org) and Novagali Pharma (www.novagali.com)
websites.This press release and the information contained herein do
not constitute an offer to sell or subscribe to, or a solicitation
of an offer to buy or subscribe to, shares in Novagali Pharma in
any country.
Next press
releaseRevenue for the 2nd quarter and
1st half of 2011:July 28, 2011 (after
market)
Novagali Pharma is listed on NYSE Euronext
Paris - Compartment CISIN code: FR0010915553 - Ticker: NOVA
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