Pharnext could become an SCA controlled by Neovacs











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(Boursier.com) — The biopharmaceutical company Pharnext SA called its shareholders to a Combined General Meeting (ordinary and extraordinary) on February 24 at 4 p.m. in Suresnes. On this occasion, shareholders will be called upon to vote on:
– the establishment of a new legal structure with a transformation of the company, currently incorporated in the form of a public limited company, into a partnership limited by shares (SCA) and, consequently, of a new governance;
– various usual resolutions for the purpose of carrying out any financial transactions.

In order to legally reflect the commitment of its new management to the proper execution of its 2023 roadmap and to protect its activity in a crucial period of value creation, the board of directors of Pharnext has expressed the intention to transform the company , currently incorporated as a public limited company, as a partnership limited by shares.

In the event of transformation of Pharnext into a partnership limited by shares, the company Pharnext Développement, a simplified joint-stock company controlled by the company Neovacs SA would be the sole general partner, thus becoming jointly and severally liable for the debts of the company.

In terms of governance, Néovacs – represented by Hugo Brugière, CEO of Néovacs and current CEO of Pharnext – would become Chairman of Pharnext Développement, which in turn would be manager of Pharnext.

The supervisory board of Pharnext (incorporated as an SCA) would be made up of the current members of the board of directors (with the exception of Hugo Brugière), namely Joshua Schafer, Lawrence Steinman and James Kuo.


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