VERAXA Biotech (NASDAQ: VRXA) announced that shareholders overwhelmingly approved all proposals presented at its Extraordinary General Meeting, with more than 99.94% of votes cast in favor and 72.20% of the company’s outstanding share capital represented. The approved measures include the introduction of conditional share capital for shareholder options and warrants, implementation of a capital band through Dec. 31, 2030 and an increase in the maximum size of the board of directors from five to seven members.
The company said the enhanced corporate and financing framework is intended to support its long-term growth strategy by providing greater flexibility for potential acquisitions, strategic collaborations, investment projects, capital markets activities and continued development of its BiTAC(R) technology platform and oncology pipeline. Management said the vote reflects strong shareholder support for VERAXA’s strategy of advancing antibody-based cancer therapeutics while pursuing long-term value creation.
To view the full press release, visit https://ibn.fm/5zqa0
About VERAXA Biotech AG (NASDAQ: VRXA)
At VERAXA, we are building a premier engine for the discovery and development of next-generation antibody-based therapeutics, including bispecific T cell engagers, bispecific ADCs and other innovative formats. Powered by a suite of transformative technologies and guided by rigorous quality-by-design principles, we are rapidly advancing our pipeline of ADCs and proprietary BiTAC formats into clinical development and beyond. VERAXA was founded on scientific breakthroughs made at the European Molecular Biology Laboratory (EMBL), a world-renowned institution known for pioneering life science research and cutting-edge technology.
BiTAC(R) is a registered trademark of VERAXA Biotech GmbH.
NOTE TO INVESTORS: The latest news and updates relating to VRXA are available in the company’s newsroom at http://ibn.fm/VRXA
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