BERLIN–(BUSINESS WIRE)–Regulatory news:
NOXXON Pharma NV (Euronext Growth Paris: ALNOX) (Paris:ALNOX), a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), today announced that the extraordinary general meeting of shareholders was held on Monday, May 16, 2022 at the offices of Freshfields Bruckhaus Deringer LLP, Strawinskylaan 10, 1077 XZ in Amsterdam, the Netherlands has approved the proposed share consolidation to be implemented by means of a partial amendment to the articles of association and, with respect to the share consolidation, to authorize the board of directors to cancel, to the extent necessary, up to the maximum number of shares held by the company in its own share capital. Shareholders representing an aggregate of 6.41% of the issued and outstanding share capital entitled to vote were represented by proxy.
Bryan Jennings, CFO of NOXXON commented: “The approval of NOXXON’s stock consolidation proposal is an important sign of shareholder support for the company’s plans to improve stock liquidity and stability. The consolidation, along with our compelling progress in the clinic, will strengthen our position with respect to potential future funding opportunities. We would like to thank our shareholders for their continued support in our transition to a more efficient capital structure.”
Draft minutes of the meeting will soon be available on the NOXXON website (www.noxxon.com).
NOXXON’s oncology-focused pipeline acts on the tumor microenvironment (TME) and cancer immunity cycle by breaking down the tumor protective barrier and blocking tumor repair. By neutralizing chemokines in the TME, NOXXON’s approach works in combination with other forms of treatment to weaken tumor defenses against the immune system and enable greater therapeutic impact. NOXXON’s main program, NOX-A12, provided the final front-line data from a Keytruda® combination trial in patients with metastatic colorectal and pancreatic cancer published at the ESMO conference in September 2020 and in July 2021 the company announced its phase 2 study, OPTIMUS, to further assess safety and efficacy NOX-A12 in combination with Keytruda from Merck® and two different chemotherapy regimens as second-line therapy in patients with metastatic pancreatic cancer. NOXXON is also studying NOX-A12 in brain cancer in combination with radiation therapy, which has been granted orphan drug status in the US and EU for the treatment of certain brain cancers. GLORIA, a trial of NOX-A12 in combination with radiation therapy in newly diagnosed brain cancer patients who will not clinically benefit from standard chemotherapy, provided frontline data from all three climbing cohorts of dose showing consistent tumor reductions and objective tumor responses. Additionally, GLORIA was expanded to assess the benefit of NOX-A12 with other treatment combinations, radiotherapy + bevacizumab and radiotherapy + pembrolizumab. The Company’s second clinical-stage asset, NOX-E36, is a Phase 2 TME asset targeting the innate immune system. NOXXON plans to test NOX-E36 in patients with solid tumors. Further information is available at: www.noxxon.com.
Keytruda® is a registered trademark of Merck Sharp & Dohme Corp.
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About the GLORIA study
GLORIA (NCT04121455) is NOXXON’s dose-escalating Phase 1/2 study of NOX-A12 in combination with radiation in first-line patients with partially resected or unresected glioblastoma (brain cancer) with a promoter Unmethylated MGMT (resistant to standard chemotherapy). GLORIA is further evaluating the safety and efficacy of NOX-A12 in three additional arms combining NOX-A12 with: A. radiation therapy in patients with complete tumor resection; B. radiotherapy and bevacizumab in patients with incomplete tumor resection; and C. radiation therapy and pembrolizumab in patients with incomplete tumor resection.
About the OPTIMUS study
OPTIMUS (NCT04901741) is NOXXON’s open-label, two-arm Phase 2 study of NOX-A12 plus pembrolizumab and nanoliposomal irinotecan/5-FU/leucovorin or gemcitabine/nab-paclitaxel in patients with stable microsatellite metastatic pancreatic cancer.
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