Bulletin from the annual general meeting on 26 May 2023 in Chosa Oncology AB
The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.
Today, on 26 May 2023, the annual general meeting was held in Chosa Oncology AB. A summary of the adopted resolutions follows below.
Resolution on adoption of accounts and distribution of the company’s profit
The annual general meeting resolved to adopt the profit and loss statement and balance sheet as well as the consolidated profit and loss statement and consolidated balance sheet. The annual general meeting also resolved to distribute the company’s profit in accordance with the proposal from the board meaning that no dividends are paid and that available funds are carried forward.
Discharge from liability for the members of the board and the CEO
The annual general meeting resolved to discharge the members of the board and the CEO from liability for the financial year 2022.
Election of board members and auditor as well as remuneration for the board members and auditor
The annual general meeting resolved in accordance with the proposal from Buhl Krone Holding ApS (the ”Proposer”) to re-elect Neil Goldsmith, Ingrid Atteryd Heiman, Lars Hedbys, Claus Frisenberg Pedersen and Ulla Hald Buhl as ordinary board members. Lars Hedbys was elected as new Chairman of the board. The current Chairman of the board Neil Goldsmith had declined re-election as Chairman of the board. Remuneration to the board shall be paid with SEK 150,000 to the Chairman of the board and with SEK 75,000 to each of the other board members. Board remuneration shall not be paid to Claus Frisenberg Pedersen and Ulla Hald Buhl.
Furthermore, the annual general meeting resolved, in accordance with the proposal from the Proposer, to re-elect Deloitte AB as auditor and that remuneration for the auditor shall be paid in accordance with customary norms and approved invoice. Deloitte AB has informed that Magnus Andersson will continue to be appointed as the responsible auditor.
Resolution on authorization regarding issues
The annual general meeting resolved, in accordance with the proposal from the board of directors, to authorize the board of directors, up until the next annual general meeting, at one or several occasions, with or without deviation from the shareholders’ preferential rights and with or without provisions regarding contribution in kind, set-off or other conditions, to issue shares, convertibles and/or warrants.
The reason for why a deviation from the shareholders’ preferential rights should be possible is to enable the company to source working capital, to be able to execute acquisitions of companies or operating assets as well as to enable issues to industrial partners within the framework of partnerships and alliances. To the extent that the authorization is used for an issue with deviation from the shareholders’ preferential rights, the issue shall take place on market terms.
Lund on 26 May 2023
Chosa Oncology AB (publ)
For additional information contact:
Peter Buhl Jensen, CEO
pbj@buhloncology.com
+ 45 21 60 89 22
This information was submitted for publication, through the agency of the contact person set out above, on 26 May 2023.
CHOSA in short
CHOSA Oncology AB is an oncology biotechnology company led by a proven international team with veteran specialists in oncology; drug development; running clinical trials; regulatory expertise; and business development. CHOSA intends to enter into agreements for partnership or sublicensing of iCIP™.
About iCIP™
CHOSA is focused on late-stage clinical development of iCIP™ (LiPlaCis® and its DRP® companion diagnostic together) to which it has worldwide rights. The cisplatin DRP is the only proven test to foresee and thereby select who to treat and who will benefit from cisplatin. The cisplatin DRP has previously shown its ability to foresee the value of cisplatin therapy in lung cancer. Even when lung cancer surgery is successful in removing all visible tumor, too many patients have a re-emergence of cancer. Cisplatin therapy after surgery is a gold standard that clearly increases lung cancer cure, but not always, and until now the doctors do not know who will benefit from cisplatin and who should have something else. This is where the cisplatin DRP is a potential game changer. Cisplatin DRP was validated in a blinded retrospective study in two lung cancer patient cohorts receiving cisplatin after surgery to kill remaining tumor cells. Tissue from the patient’s lung cancers was tested with the cisplatin DRP technology to get the DRP scores. A high cisplatin DRP score was directly linked to high cisplatin efficacy. Thus, patients with the 10% highest scores had a 3-year survival of 90% whereas the patients with the lowest 10% score had much lower survival with only 40% surviving 3 years1.
1) Buhl et al PLOS One doi: 10.1371/journal.pone0194609
DRP® is a registered trademark of Allarity Therapeutics, Inc., and is used under license granted to CHOSA Oncology.
LiPlaCis is in-licensed from Allarity Therapeutics Ltd (previous Oncology Venture ApS) and LiPlasome Pharma ApS.