OSE Immunotherapeutics Announces Results of 2020 Virtual Combined General Meeting

Regulatory News:

OSE Immunotherapeutics (Paris:OSE) (ISIN: FR0012127173; Mnémo: OSE) today announced that all the resolutions submitted to a vote at the Combined General Shareholders’ Meeting were approved as proposed by OSE Immunotherapeutics’ Board of Directors. The Company conducted the General Meeting virtually following the provisions of the French ordinances related to Covid-19, dated March 25, 2020.

The results of each resolution voted on can be found on the Company’s website in the “Investor – General Shareholders’ Meeting” section: https://ose-immuno.com/en/general-shareholders-meetings/.

A total of 103 shareholders voted by mail, in accordance with the terms and conditions indicated in the notice of the Meeting. In total, the shareholders who voted hold 9 323 962 shares (representing 61,65 % of the share capital) and 14 190 017 voting rights (representing 67,58 % of the voting rights).

During the virtual meeting, Dominique Costantini, Chairman, and Alexis Peyroles, Chief Executive Officer of OSE Immunotherapeutics, provided an overview of the Company’s latest advances and growth strategy.

Alexis Peyroles, CEO of OSE Immunotherapeutics, commented: “2019 and the first semester of 2020 were marked by major clinical progress. Specifically, Tedopi showed positive results in Step-1 of its Phase 3 clinical trial in NSCLC patients after failure of checkpoint inhibitor treatments. This confirms the clinical benefit Tedopi can provide in patients with advanced stage cancer and who need new therapeutic options.”

In 2019, our partnered products also achieved key clinical milestones: BI 765063 entered Phase 1 in advanced solid tumors in partnership with Boehringer Ingelheim, and OSE-127 has shown positive Phase 1 results in partnership with Servier. The OSE-127 results provide a firm foundation for two Phase 2 trials planned to start in 2020: in ulcerative colitis, sponsored by OSE, and in Sjögren’s syndrome, sponsored by Servier.

Our cash position, recently reinforced by a € 7 million non-dilutive loan agreement granted by the French State, provides us with financial visibility until Q3 2021 to advance our clinical and preclinical programs in immuno-oncology and autoimmune diseases, as well as our recently-announced development of a prophylactic vaccine against the pandemic virus SARS-CoV-2. This cash position and flexibility should be further reinforced by the milestone payment which is due at first patient-in in the Sjögren’s Phase 2a study, demonstrating the resilience of our business model.