Idogen to convene major owners for election to Board

Idogen AB (publ) announced today that an Extraordinary General Shareholder Meeting will be convened to propose the election of two new members to the Board of Directors: Joakim Söderström and Niklas Wallett, representing a consortium that owns approximately 17% of the votes. The election of Joakim Söderström as new Chairman of the Board has also been proposed. Current Board members Leif G. Salford and Lennart Svensson have yielded their positions and their removal from office has been proposed in conjunction with the election of the two new Board members. Current Chairman of the Board Agneta Edberg will remain on the Board.

The Board of Directors of Idogen have concluded discussions with a new grouping of principal owners that wishes to promote the company’s long-term development and two of their members have therefore been proposed for election to the Board. The notice to attend an Extraordinary General Shareholder Meeting on September 6, 2022 will be issued in a separate press release. If the meeting resolves in accordance with the proposals, the Board of Directors after the Extraordinary General Shareholder Meeting will consist of Joakim Söderström (Chairman), Niklas Wallett, Agneta Edberg, Christina Herder and Sharon Longhurst.

“We see Joakim Söderström and Niklas Wallett as a welcome future addition to the Board, and we are very pleased that representatives of Idogen’s principal owners wish to be part of developing the company,” says Chairman of the Board Agneta Edberg.

“With its ground-breaking technology platform in cell therapy, Idogen is undoubtedly one of the most exciting companies in biotech today. I am certain that with its three fields of therapy, a strong patent portfolio and an innovative form of treatment, this company will revolutionize today’s treatment of autoimmune disorders and prevention of organ rejection in transplants – something that will be of great value for both patients and shareholders,” explains Joakim Söderström, the proposed new Chairman of the Board.

“I am very much looking forward to playing an active role on Idogen’s board, and I believe it is extremely important for the company that major owners like Joakim and I are involved in Idogen’s future development. My involvement in Idogen is for the long term, and my extensive experience of the capital market and networks will greatly benefit the company. I expect to be able to contribute know-how in investor relations and communication with the market. Idogen has been conducting research for years and is now at last in a phase where the company is ready to commence its first clinical trial,” says Niklas Wallett, proposed Board member.

Joakim Söderström, born 1984, is a successful entrepreneur and investor with a focus on biotech. His previous roles include CEO of SäkerhetsBranschen, Vice President of Euralarm and several different senior positions in the Swedish Police Authority.

Other ongoing assignments: Board member and Chief Executive Officer of J-TAC AB.

Joakim Söderström holds 2,880,500 shares, both directly and indirectly, in Idogen AB. Joakim Söderström is deemed to be independent in relation to both the company and its management, as well as to the major shareholders.

Niklas Wallett, born 1976, has extensive experience as a professional investor and a broad network in the financial market. He has worked at institutions including Erik Penser Bank and Handelsbanken in various roles, with a focus on the capital market.

Other ongoing assignments: Board member of Wallett & Jefferyd AB.

Niklas Wallett holds 2,593,873 shares, both directly and indirectly (including via family), in Idogen AB. Niklas Wallett is deemed to be independent in relation to both the company and its management, as well as to the major shareholders.

For further information, please contact:

Agneta Edberg, Chairman of the Board, Idogen AB

Tel: +46 70 555 75 18

Joakim Söderström, proposed Chairman of the Board

Tel: +46 70 159 56 96

Niklas Wallett, proposed Board member

Tel: +46 70 970 42 43  

Certified Adviser:
Vator Securities AB, Kungsgatan 34, SE-111 35 Stockholm

Email: ca@vatorsec.se.

Tel: +46 (0)8-580 065 99

This information is information that Idogen AB is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above on August 17, 2022 at 07:58 CEST.

Idogen (Nasdaq First North Growth Market: IDOGEN) develops tolerogenic cell therapies to prevent the patient’s immune system from attacking biological agents, transplanted organs or the body's own cells or tissue. The company’s most advanced project, IDO 8, is designed to restore the efficacy of hemophilia drugs in patients who have developed neutralizing antibodies. The company’s second project, IDO T, is being developed to prevent kidney transplant rejection. In a third program, IDO AID, Idogen is focused on the treatment of autoimmune diseases. The treatment for all indications is based on the patient's own cells and is expected to have a favorable safety profile and long-lasting effect. The potential for a short-term treatment intervention to yield a long-term effect is a major advantage in health economics for both patients and divisions providing care. More information about Idogen is available via https://www.idogen.com