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Significant events after 1-3/2022
AGM — Nanoform Finland Plc’s Annual General Meeting (AGM), held on April 12, 2022, approved the financial statements, and discharged the members of the Board of Directors and the company’s CEO from liability for the financial year 2021. The AGM approved the Board of Directors’ proposal that no dividend will be paid. The AGM resolved that the Board of Directors consists of four members. Miguel Calado (chairperson), Mads Laustsen, Jeanne Thoma and Albert Hæggström were elected as ordinary members of the Board of Directors. Authorized Public Accountants PricewaterhouseCoopers Oy was elected as the Auditor of the company and Tomi Moisio, Authorized Public Accountant, will act as the auditor in charge. The AGM authorized the Board of Directors to repurchase Nanoform’s own shares. Altogether no more than 7,000,000 shares may be repurchased. Furthermore, the AGM authorized the Board of Directors to resolve upon the directed issuance of new shares and special rights entitling to shares, in the aggregate up to 7,000,000 shares. The authorization is in force until April 12, 2027.
On April 12, 2022, at the constitutive meeting following the annual general meeting, the Board of Directors resolved to elect as members of the Audit and Compensation Committee (AC): Miguel Calado (Chairperson), Jeanne Thoma (Ordinary member), and Mads Laustsen (Ordinary member). The Audit and Compensation Committee is a permanent committee of the Board of Directors and acts in accordance with its charter as adopted by the Board of Directors.
On April 12, 2022, the Board of Directors approved share subscriptions based on stock option programs (1/2019, 2/2019, 3/2019, 5/2019 and 1/2020). The entire subscription price for subscriptions made with stock options of EUR 203,500 will be booked in the reserve for invested unrestricted equity.
STARMAP® Online launched – On May 4, 2022, Nanoform announced that it has launched its sparse-data AI solution, STARMAP® as a secure online portal. STARMAP® Online creates the opportunity for clients to perform large numbers of in-silico CESS® experiments from their desktop, prior to approaching Nanoform to perform experimental validation. ?This approach further supports Nanoform’s green ambition by ensuring that Nanoform progresses the molecules with the greatest probability of success. STARMAP® Online offers increased user confidence through:
Security and safety – the interface has been developed in alignment with ISO27001:2017 standards.
Client submissions are seen only by clients (not by Nanoform), allowing molecules to be screened without sharing structures. Outputs are presented directly to the client via the system.
Scalability and agility: The ability to manage thousands of molecules in a single submission to support the selection of candidates from molecule libraries is possible.
Novel insights: STARMAP® Online holds a database of over 17,000 pre-analyzed, public-domain disclosed drugs and candidates. Clients can request thematic evaluations and understand the power of CESS® in different therapeutic areas, target classes, and disease areas.
Company near-term business targets for 2022 (reiterated)
2 new GMP lines (announced Feb-21)
Biologics pilot line for GMP (announced Nov-21)
At least 20 new customer non-GMP projects (announced Jan-22)
At least 3 new customer GMP projects (announced Jan-22)
Company mid-term business targets 2025 (reiterated)
To nanoform at least 70 new Active Pharmaceutical Ingredients (API) annually
To have in place 35 operating production lines of which 7 to 14 are expected to be GMP production lines
Over 90 percent gross margin
To have 200-250 employees
To be cash flow positive
For further information, please contact:
Albert Hæggström, CFO
albert.haeggstrom@nanoform.com / +358 29 370 0150
For investor relations queries, please contact:
Henri von Haartman, Director of Investor Relations
hvh@nanoform.com / +46 7686 650 11
About Nanoform
Nanoform is an innovative nanoparticle medicine enabling company. Nanoform works together with pharma and biotech partners globally to provide hope for patients in developing new and improved medicines utilizing Nanoform’s platform technologies. The company focuses on reducing clinical attrition and on enhancing drug molecules’ performance through its nanoforming technologies and formulation services. Nanoform’s capabilities include GMP manufacturing, and its services span the small to large molecule development space with a focus on solving key issues in drug solubility and bioavailability and on enabling novel drug delivery applications. Nanoform’s shares are listed on the Premier-segment of Nasdaq First North Growth Market in Helsinki (ticker: NANOFH) and Stockholm (ticker: NANOFS). Certified Adviser: Danske Bank A/S, Finland Branch, +358 40 744 1900. For more information, please visit www.nanoform.com.
Forward-Looking Statements
This press release contains forward-looking statements, including, without limitation, statements regarding Nanoform’s strategy, business plans and focus. The words may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “target” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, any related to Nanoform’s business, operations, clinical trials, supply chain, strategy, goals and anticipated timelines, competition from other companies, and other risks described in the Report of the Board of Directors and Financial Statements for the year ended December 31, 2021 as well as our other past disclosures. Nanoform cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Nanoform disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent Nanoform’s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.
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https://news.cision.com/nanoform/r/nanoform-1q-2022-report–quarterly-record-of-new-projects-and-new-customers,c3573074
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