PRESS RELEASE
UPDATE FOLLOWING THE PUBLIC MEETING OF FEBRUARY 11, 2022 OF THE SANCTIONS COMMISSION OF THE FINANCIAL MARKETS AUTHORITY (AMF)
Paris, February 12, 2022, 20h30
AB Science SA (Euronext – FR0010557264 – AB) wishes to provide the following clarifications, following press articles published after the public session of Friday February 11, 2022 of the Sanctions Commission of the Autorité des Marchés Financiers (AMF).
As indicated in the Company’s annual report, the AMF’s Prosecuting Authority opened an investigation in September 2017 relating to financial information and the AB Science stock market. At the end of this investigation, AB Science and its manager Alain Moussy received a notification of grievances in the first quarter of 2021.
Following this notification of grievances, and as required by procedure, a rapporteur was then appointed by the Sanctions Committee. The rapporteur has drawn up an independent report of the investigation, incriminating and exculpating.
The AMF Sanctions Committee met on February 11, 2022 to hear the opinion of its rapporteur, the opinion of the AMF’s Prosecuting Authority, and the persons implicated.
The AMF’s Prosecuting Authority upheld the grievances notified (i) to AB Science for not having communicated to the market in due time information which it considers privileged relating to the procedure for authorization to market the masitinib in mastocytosis from March 7, 2017, and (ii) to Alain Moussy for having used this privileged information to sell part of his shares and has requested financial penalties.
AB Science and Alain Moussy have firmly and precisely contested these grievances.
The Rapporteur of the Sanctions Committee, on the basis of her report, considered that such privileged information did not exist during the fundraising carried out by AB Science on March 24 and 27, 2017 and during the sale carried out by Alain Moussy on March 31, 2017.
The decision of the Sanctions Committee should be made in four to six weeks.
AB Science remains confident in the arguments submitted to the Sanctions Commission and is awaiting the decision of this Commission.
About AB Science
Founded in 2001, AB Science is a pharmaceutical company specializing in the research, development and marketing of protein kinase (PIK) inhibitors, a class of targeted proteins whose action is decisive in cell signaling. Our programs only target pathologies with high medical need, often fatal with a low survival rate, rare, or resistant to a first line of treatment.
AB Science has developed its own portfolio of molecules and AB Science’s flagship molecule, masitinib, has already been registered in veterinary medicine and is being developed in humans in oncology, in neurodegenerative diseases, in inflammatory diseases and in viral diseases. The Company is headquartered in Paris and is listed on Euronext Paris (Ticker: AB).
More information about the Company on the website: www.ab-science.com
Forward-looking statements – AB Science
This press release contains forward-looking statements. These statements do not constitute historical facts. These statements include projections and estimates and the assumptions on which they are based, statements relating to plans, objectives, intentions and expectations regarding financial results, events, operations, future services, product development and their potential or future performance.
These forward-looking statements can often be identified by the words “expect”, “anticipate”, “believe”, “intend”, “estimate” or “plan”, and other similar terms. Although AB Science believes these forward-looking statements to be reasonable, investors are cautioned that these forward-looking statements are subject to numerous risks and uncertainties, which are difficult to predict and generally beyond AB Science’s control, which may mean that actual results and events realized differ materially from those expressed, implied or anticipated in the forward-looking information and statements. These risks and uncertainties include in particular the uncertainties inherent in the development of the Company’s products, which may not succeed, or in the issuance by the competent authorities of marketing authorizations or more generally any factors that may affect the ability to market. products developed by AB Science as well as those developed or identified in public documents published by AB Science. AB Science makes no commitment to update forward-looking information and statements subject to applicable regulations, in particular articles 223-1 et seq. of the AMF general regulations.
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