Molecular Partners Announces All Board Proposals Approved at the Annual General Meeting

ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass., April 17, 2024 (GLOBE NEWSWIRE) — Molecular Partners AG (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin therapeutics, today announced that all motions proposed by the Board of Directors at the Annual General meeting were approved by the shareholders of the Company by a wide majority.

The Molecular Partners shareholders confirmed the approval of the annual review, the IFRS consolidated financial statements and the annual statements for the financial year 2023. They also fully approved the consultative vote on the compensation report and the proposal to carry forward the net loss for 2023 of CHF 56,285,222, thereby bringing the loss carried forward position from CHF 92,511,521 to CHF 148,796,743.

The Board of Directors and the members of the management board were granted discharge for the financial year 2023. Additionally, the shareholders approved amendments to the articles of incorporation regarding capital range and conditional share capital for employee participation.

The shareholders voted to re-elect all members of Molecular Partners’ Board of Directors for a term of office of one year. William “Bill” Burns was re-elected Chairman of the Board and re-appointed as the chairperson of the Board’s Nomination and Compensation Committee. Steven Holtzman and Michael Vasconcelles, M.D., were also re-elected to the Nomination and Compensation Committee. KPMG AG Zurich was re-elected as the Group’s statutory auditors for the financial year 2024 and Anwaltskanzlei Keller AG, Zurich, was elected as the independent proxy for a term of office until the 2025 Annual General Meeting.

The Annual General Meeting also approved all binding motions regarding compensation for both the Board of Directors and the Management Board.