MILANO, Italy--(BUSINESS WIRE)--Newron Pharmaceuticals S.p.A. (“Newron”), a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the central nervous system (CNS) and pain, announces that shareholders approved all motions on the agenda of its shareholders’ meeting held in Bresso (MI), Italy, today.
Motions on the agenda of the AGM included the re-election of all current directors to the board of directors for a three-year term, effective until the 2020 AGM, and the approval of the Company’s financial statements as of 31 December 2016. 31.1% of Newron’s total capital of 15,778,543 shares were represented at the meeting.
At the meeting, Chairman of the Board of Directors, Ulrich Köstlin underlined the successes Newron has achieved during 2016 and recently, with the approval of Xadago® by the FDA in the USA for the treatment of Parkinson’s disease, as well as the publication of promising results from a Phase IIa study with Evenamide. Ulrich Köstlin commented: “We are delighted to see that Xadago® is being made available to patients suffering from Parkinson’s disease in the European Union and in Switzerland by our partner, Zambon. We are looking forward to seeing this new treatment option soon become available to patients in the USA. Our sincere thanks go to our shareholders for their support and their continued expression of trust evidenced in today’s meeting.”
Stefan Weber, CEO of Newron commented: “We are successfully recruiting patients in our first potentially pivotal efficacy study performed in patients with Rett Syndrome, a debilitating rare disease in girls and women. Currently, we expect recruitment to complete this year. If successful, Sarizotan could become the first therapy to be commercialized directly by Newron. In parallel to that efficacy study, we are performing a burden of disease study aimed at delivering data and analytics to quantify the physical, emotional and financial challenges of Rett syndrome. These learnings can help identify improved intervention programs and services designed to complement the Rett care pathway.”
He continued: “We presented, last weekend at ICOSR in San Diego, exciting safety, tolerability and efficacy data from a Phase IIa study with Evenamide in patients with positive symptoms of schizophrenia. Evenamide is a voltage-gated sodium channel blocker being developed in that indication as add-on therapy. We are looking forward to the next development steps with the compound taken forward by either Newron or a potential partner.”
About Newron Pharmaceuticals
Newron (SIX: NWRN) is a biopharmaceutical company focused on the development of novel therapies for patients with diseases of the Central Nervous System (CNS) and pain. The Company is headquartered in Bresso near Milan, Italy. Xadago® (safinamide) has received marketing authorization for the treatment of Parkinson’s disease in the European Union, Switzerland and the USA, and is commercialized by Newron’s Partner Zambon. US WorldMeds holds the commercialization rights in the USA. Meiji Seika has the rights to develop and commercialize the compound in Japan and other key Asian territories. In addition to Xadago® for Parkinson’s disease, Newron has a strong pipeline of promising treatments for rare disease patients at various stages of clinical development, including sarizotan for patients with Rett syndrome and ralfinamide for patients with specific rare pain indications. Newron is also developing Evenamide as the potential first add-on therapy for the treatment of patients with positive symptoms of schizophrenia. www.newron.com
This document contains forward-looking statements, including (without limitation) about (1) Newron’s ability to develop and expand its business, successfully complete development of its current product candidates and current and future collaborations for the development and commercialisation of its product candidates and reduce costs (including staff costs), (2) the market for drugs to treat CNS diseases and pain conditions, (3) Newron’s anticipated future revenues, capital expenditures and financial resources, and (4) assumptions underlying any such statements. In some cases these statements and assumptions can be identified by the fact that they use words such as “ will”, anticipate”, “ estimate”, “ expect”, “ project”, “intend”, “ plan”, “believe”, “ target”, and other words and terms of similar meaning. All statements, other than historical facts, contained herein regarding Newron's strategy, goals, plans, future financial position, projected revenues and costs and prospects are forward-looking statements.
By their very nature, such statements and assumptions involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described, assumed or implied therein will not be achieved. Future events and actual results could differ materially from those set out in, contemplated by or underlying the forward-looking statements due to a number of important factors. These factors include (without limitation) (1) uncertainties in the discovery, development or marketing of products, including without limitation negative results of clinical trials or research projects or unexpected side effects, (2) delay or inability in obtaining regulatory approvals or bringing products to market, (3) future market acceptance of products, (4) loss of or inability to obtain adequate protection for intellectual property rights, (5) inability to raise additional funds, (6) success of existing and entry into future collaborations and licensing agreements, (7) litigation, (8) loss of key executive or other employees, (9) adverse publicity and news coverage, and (10) competition, regulatory, legislative and judicial developments or changes in market and/or overall economic conditions.
Newron may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements and assumptions underlying any such statements may prove wrong. Investors should therefore not place undue reliance on them. There can be no assurance that actual results of Newron's research programmes, development activities, commercialisation plans, collaborations and operations will not differ materially from the expectations set out in such forward-looking statements or underlying assumptions.
Newron does not undertake any obligation to publicly up-date or revise forward looking statements except as may be required by applicable regulations of the SIX Swiss Exchange where the shares of Newron are listed. This document does not contain or constitute an offer or invitation to purchase or subscribe for any securities of Newron and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.