VERAXA Biotech Shareholders Overwhelmingly Approve Corporate Governance and Financing Measures

VERAXA Biotech (NASDAQ: VRXA) announced that shareholders overwhelmingly approved all proposals presented at its Extraordinary General Meeting, with more than 99.94% of votes cast in favor and 72.20% of the company’s outstanding share capital represented. The approved measures include the introduction of conditional share capital for shareholder options and warrants, implementation of a capital band through Dec. 31, 2030 and an increase in the maximum size of the board of directors from five to seven members.

The company said the enhanced corporate and financing framework is intended to support its long-term growth strategy by providing greater flexibility for potential acquisitions, strategic collaborations, investment projects, capital markets activities and continued development of its BiTAC(R) technology platform and oncology pipeline. Management said the vote reflects strong shareholder support for VERAXA’s strategy of advancing antibody-based cancer therapeutics while pursuing long-term value creation.

The approval of these measures is significant because it equips VERAXA with the financial and structural tools needed to execute its ambitious pipeline goals. The BiTAC platform, which focuses on bispecific T cell engagers and antibody-drug conjugates (ADCs), represents a promising approach in oncology, and the enhanced capital flexibility could accelerate clinical development and potential partnerships. With a high shareholder turnout and near-unanimous support, the vote signals confidence in management's direction and the company's scientific foundation, which originated from breakthroughs at the European Molecular Biology Laboratory (EMBL).

For more details on the approved measures, the full press release is available at https://ibn.fm/qfL87. Updates and further news regarding VRXA can be found in the company’s newsroom at https://ibn.fm/VRXA.

Forward-looking statements in this release involve risks and uncertainties, and investors should refer to the company's SEC filings for a full discussion of risk factors.