BASEL, Switzerland, March 7, 2007 (PRIME NEWSWIRE) -- Basilea Pharmaceutica Ltd. (SWX:BSLN) shareholders approve all Board of Directors' proposals at Annual General Meeting.
Basilea's shareholders approved today the annual report, the 2006 statutory and consolidated financial statements, as well as the release of the members of the Board of Directors and management. Shareholders also approved a release from the reserve. In addition, shareholders re-elected Mr. Werner Henrich and Dr. Andreas Wicki as members of the Board of Directors. Mr. Peter Friedli did not stand for another term of office. Mr. Claude Schreiner was elected as a new member of the Board of Directors. Mr. Henrich, Dr. Wicki and Mr. Schreiner are elected for a term of three years. The shareholders approved the extension of term and the increase of the authorized capital and the increase of the conditional capital. PricewaterhouseCoopers AG, Basel, was re-elected as statutory auditor and group auditor for the business year 2007. In the following meeting of the Board of Directors, Mr. Henrich was confirmed as the Chairman of the Board, and Dr. Wicki as the Vice-Chairman.
The Annual General Meeting was attended by shareholders who represented 42.9% of the total share capital of the Company.
In his presentation to shareholders, Anthony Man, MD, Basilea's CEO, commented, "The last year was filled with significant, tangible achievements as a result of our intense focus on maximizing the value of shareholders' assets. Basilea again achieved major milestones with three significant drugs in phase III clinical development that aim to satisfy high medical needs. With the positive outcomes of our phase III clinical trials for ceftobiprole and alitretinoin at the beginning of 2007, we look forward to two product registration filings this year, a major achievement for a young company. We are currently building a commercial organisation and anticipate a very exciting and decisive year on our way to fulfill our vision of being a leader in the hospital and speciality pharmaceutical business."
About Basilea
Basilea Pharmaceutica Ltd. is an independent biopharmaceutical company headquartered in Basel, Switzerland, and listed on the SWX Swiss Exchange (SWX:BSLN). Basilea's fully integrated research and development operations are currently focused on new antibacterial and antifungal agents to fight drug resistance and on the development of dermatology drugs. Basilea's products are targeted to satisfy high medical and patient needs in the hospital and specialty care setting. The company owns a diversified portfolio including three investigational phase III drugs of which two have shown positive pivotal phase III results. Basilea is building a sustainable hospital and specialty pharmaceutical business. The company is integrating commercialization into its organization, in a first step through co-promoting ceftobiprole with its partner Cilag GmbH International, a Johnson & Johnson company.
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Basilea Pharmaceutica Ltd. and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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