2020

05.05.2020 – Polyphor AG

Polyphor publishes invitation to the Annual General Meeting 2020

Polyphor AG / Key word(s): AGMEGM
Polyphor publishes invitation to the Annual General Meeting 2020

05-May-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

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Allschwil, Switzerland, May 5, 2020

Polyphor publishes invitation to the Annual General Meeting 2020


Polyphor AG (SIX: POLN) a research-driven clinical-stage, Swiss
biopharmaceutical company committed to discovering and developing
first-in-class molecules in oncology and antimicrobial resistance today
published the invitation to the Annual General Meeting on June 4, 2020.

The Annual General Meeting 2020 will be held under conditions of the
COVID-19 Ordinance 2 of the Federal Council as in force today. Due to the
current restrictions resulting from the COVID-19 pandemic, physical
attendance to the meeting will not be possible and voting will take place by
independent proxy only. Despite the extraordinary circumstances, the company
seeks for a maximum of shareholders to execute their voting rights and will
therefore host a pre-AGM information call on May 18, 2020. Investors are
invited to submit their questions in advance by email to IR@polyphor.com.

In particular, the shareholders are invited to vote on the proposal of the
Board of Directors to renew the authorized share capital until May 27, 2022
by a maximum amount of CHF 11'063'206.00 by issuing a maximum of 5'531'603
registered shares and to create conditional share capital or bonds and other
debt instruments by a maximum amount of CHF 4'425'282.00 through the
issuance of a maximum of 2'212'641 registered shares. With this request, the
Company intends to gain strategic flexibility in the following 2 years which
will allow financing future phases of development at the appropriate time
and increasing pipeline opportunities and value growth.

Kuno Sommer, Chairman of the Polyphor Board of Directors said: "Although we
very much regret not meeting with our shareholders in person, we must adapt
during these extraordinary times." The Chairman continued: "The Board of
Directors and the Executive Management team firmly believe that given strong
trial progress with our unique asset balixafortide and the strategy to
enhance its pipeline in oncology and novel antibiotics, Polyphor has a great
potential in increasing the value in the next years substantially. While
company's operations are financed into Q1 2021, the financial flexibility
through the option for additional capital creation is needed until May 2022
to ensure continuous pipeline progression to increase shareholder value as
well as attracting partnership opportunities."

Jean-Pierre Obrecht, co-founder and long-time CEO of Polyphor and member of
the Board of Directors since 2013, has decided for personal reasons not to
stand for re-election to the Board of Directors at the 2020 Annual General
Meeting.

Kuno Sommer, Chairman of the Polyphor Board of Directors said: "Jean-Pierre
Obrecht has made an outstanding personal contribution to our company as
co-founder of Polyphor and as a long-standing CEO and member of the Board of
Directors. His dedication and passion were indispensable for the development
of Polyphor. On behalf of the Polyphor Board of Directors and all employees,
I would like to thank him warmly for this and wish him all the best for the
future".

"I am proud of how the company my brother and I founded in 1996 has
developed. At the same time, I am grateful to all those who have contributed
to this development. I am particularly pleased with the progress of
balixafortide, which is now in a Phase III clinical trial in patients with
metastatic breast cancer, and the advancement of the antibiotics program. I
have every confidence that the Board of Directors headed by Kuno Sommer and
the management team led by Gökhan Batur will realize the full potential of
Polyphor," said Jean-Pierre Obrecht.

All other members of the Board of Directors are standing for re-election.


The full AGM invitation can be found on our website:
www.polyphor.com/investor-relations/corporate-governance/

For further information please contact:

For Investors:
Hernan Levett
Chief Financial Officer
Polyphor Ltd.
Tel: +41 61 567 16 00
Email: IR@polyphor.com


For Media:
Stephan Feldhaus
Feldhaus & Partner GmbH
Tel: +41 79 865 92 56
Email: feldhaus@feldhaus-partner.ch


About Polyphor
Polyphor is a research-driven clinical-stage, Swiss biopharmaceutical
company committed to discovering and developing first-in-class molecules in
oncology and antimicrobial resistance leveraging the company's leading
macrocyclic peptide technology platform. Polyphor is advancing balixafortide
(POL6326) in a Phase III trial in combination with eribulin in patients with
advanced breast cancer and exploring its potential in other cancer
indications. In addition, it has discovered and is developing the Outer
Membrane Protein Targeting Antibiotics (OMPTA). OMPTA are potentially the
first new class of antibiotics in clinical development in the last 50 years
against Gram-negative bacteria. The company's lead OMPTA program is an
inhaled formulation of murepavadin for the treatment of Pseudomonas
aeruginosa infections in patients with cystic fibrosis. Polyphor is based in
Allschwil near Basel and is listed on the SIX Swiss Exchange (SIX: POLN).
For more information, please visit www.polyphor.com.

Disclaimer
This press release contains forward-looking statements which are based on
current assumptions and forecasts of the Polyphor management. Known and
unknown risks, uncertainties, and other factors could lead to material
differences between the forward-looking statements made here and the actual
development, in particular Polyphor's results, financial situation, and
performance. Readers are cautioned not to put undue reliance on
forward-looking statements, which speak only of the date of this
communication. Polyphor disclaims any intention or obligation to update and
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.


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