MetrioPharm Investor Relations News QII 2023
MetrioPharm AG Receives CHF 18 Million
MetrioPharm AG has started a new financing round and was able to issue new shares for CHF 18 million to two family offices in May 2023. The round will be continued from September 2023, thus all existing shareholders will also have the opportunity to participate at the same terms.
A total of CHF 20 to 40 million in new share capital is planned to be raised. These funds are earmarked for the further development of the lead compound MP1032 with a focus on the treatment of Duchenne muscular dystrophy. For this indication, the U.S. Food and Drug Administration (FDA) recently granted Orphan Drug Designation for MetrioPharm's lead compound MP1032.
MetrioPharm CEO Thomas Christély states: "We are very pleased to have raised such an amount at a reasonable valuation in the extremely difficult current investment environment. These investments will allow us to significantly advance the clinical development in Duchenne. Orphan Drug Designation is granted by the FDA only to drug candidates that are considered to be a promising new therapy for patients in a specific indication."
17th Annual General Meeting of MetrioPharm AG
On the 20th of June 2023, the 17th Annual General Meeting of MetrioPharm AG took place in the Plenarraum of the OBC Zurich. Presenting the Annual Report 2022, the Management, and the Board of Directors of MetrioPharm AG gave an overview of the company's activities during the last year. MetrioPharm AG had started preclinical studies in the indication Duchenne muscular dystrophy in October 2022. MetrioPharm was supported by a co-funding of the patient organization Duchenne UK. The decision by the US FDA in May 2023 to grant orphan drug designation was among other things based on these results.
In addition, the successful completion of the Phase II clinical trial in 2022 in the indication COVID-19 was reported. Notably, very good efficacy results were presented after evaluation of the data by Saarmetrics, a consulting company renowned for the analysis of COVID-19 data. Further development of MP1032 both for covid patients and as a preparatory drug for future infectious diseases with pandemic potential is intended to be accomplished through partnering with large pharmaceutical companies and through further public funding programs, respectively.
After approval of the annual report and financial statements 2022 and discharge of the Board of Directors Mr. Christoph von Moos was re-elected to the Board for another 3 years.
The Annual General Meeting of MetrioPharm AG also passed a resolution to amend Article 3 of the Articles of Incorporation in order to comply with the mandatory new Swiss stock corporation law, which has been in effect since January 1, 2023. Instead of the authorized capital, a capital band shall now be implemented, which allows the Board of Directors to increase the capital over a certain period within the framework approved by the Annual General Meeting, namely the capital band.
Of the total share capital of CHF 41,857,694.20, divided into 209,288,471 registered shares with a par value of CHF 0.20, 132,115,503 shares were represented. This corresponds to 63.13% of the shares issued.
MetrioPharm AG Company Calendar in H2 2023
- 29th June – 01st July: Parent Project Muscular Dystrophy Conference, Dallas, USA
- 20th – 21st September: ChinaBio Partnering Forum 2023, Shanghai, China
- 13th November: Inv€stival Showcase, London, UK
- 14th – 16th November: Jefferies Healthcare Conference, London, UK
MetrioPharm AG informs
- In addition to the quarterly newsletter, we also keep you informed about current events in the company with press releases. The press releases can also be found on our website here. If you have not yet been added to our distribution list for press releases, please send us an e-mail at email@example.com and we will add you to the distribution list as soon as possible.
- For background information on MetrioPharm, please visit our blog.
- In November 2021, MetrioPharm signed a grant agreement from the European Commission for € 7.9 million. The project "iMPact" was among the 6 initiatives selected by the Commission to work on compounds for the treatment of SARS-CoV-2. The project includes the conduct of a Phase II clinical trial with MetrioPharm's lead compound MP1032 against COVID-19, as well as preclinical studies on the effect of MP1032 on mutant variants of SARS-CoV-2. More information on the iMPact project can be found here.
- You can also network with MetrioPharm via LinkedIn. We use our LinkedIn profile to inform shareholders, experts and business partners about the latest company developments. Please feel free to include us in your LinkedIn community by invitation.
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