Bulletin from shareholders' meeting: Diamyd stands stronger than ever
At Diamyd Medical’s ordinary Annual General Meeting on December 11, CEO Elisabeth Lindner announced that Diamyd stands stronger than ever before. The first of the company’s Phase III studies of the Diamyd® diabetes vaccine is fully recruited and the recruitment of the other Phase III study is steadily increasing. Additionally, several children have been vaccinated in a Swedish prevention study of the Diamyd® diabetes vaccine with the aim of preventing type 1 diabetes.
“It has been an incredibly exciting and intense year for Diamyd where a number of important events have contributed to our current position of strength,” says Elisabeth Lindner, CEO and President at Diamyd Medical. “As a result of the fully recruited European Phase III study and the progress in the American study we can better assess the future development of the Diamyd® project and the company as a whole.” During the year the company has continued its positioning towards a market oriented diabetes company with the Nordic market as a base. The following matters were discussed at the meeting: Diamyd Medical's President and CEO Elisabeth Lindner gave a retrospective view of and summarized the important events during and after the past fiscal year. The most important and decisive events were the progress of the Phase III studies with the Diamyd® diabetes vaccine and that the company with margin has secured its financing until data from the current Phase III program is expected to be available. The company's income statement and balance sheet were adopted, and the Board and CEO were discharged from liability for the 2008/2009 fiscal year. Anders Essen-Möller was re-elected as Chairman of the Board, and Lars Jonsson, Sam Lindgren and Henrik Bonde were re-elected to the Board, while Maria-Teresa Essen-Möller and Göran Pettersson were elected as new Board members. Maria-Teresa Essen-Möller, b. 1970, is a brand and market strategy consultant who has also done work with Diamyd Medical AB and Elekta AB. She has a Master's degree in Economics from Linköping University. Göran Pettersson, with degrees in Pharmacy and Marketing, has a long background from leading business functions in the Astra group, KabiVitrum AB, KabiPharmacia/Pharmacia&Upjohn AB and Meda AB. He is currently a Director of the Boards of Medivir AB, OxyPharma AB, Recipharm AB, Swedish Orphan AB and Vivoxid, Oy. The annual meeting approved the Board's proposed guidelines for compensation and terms of employment for the CEO and other key executives. The meeting approved the Board's proposal to amendments to the Articles of Incorporation concerning an execution of a 2:1 division of shares (i.e. a split), meaning that each share is divided into two shares, and that the summons to the shareholders' meeting is adjusted to the new regulations expected to come into force in 2010. In addition, the meeting approved the Board's proposal that the provisions concerning prior application to and right to attend shareholders' meeting are adjusted to the Companies Act. The meeting mandated the Board to decide on new share issues of a maximum total of 10 percent of the number of shares on one or more occasions before the next Annual General Meeting. In addition, the meeting approved the Board's proposal to institute an employee option program.
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