NOXXON Announces Results of the Extraordinary General Meeting of Shareholders

Regulatory News:

NOXXON Pharma N.V. (Euronext Growth Paris: ALNOX) (Paris:ALNOX), a biotechnology company focused on improving cancer treatments by targeting the tumor microenvironment (TME), announced today that the extraordinary general meeting of shareholders held on Monday, May 16, 2022 at the offices of Freshfields Bruckhaus Deringer LLP, Strawinskylaan 10, 1077 XZ in Amsterdam, the Netherlands approved the proposed share consolidation to be implemented by way of partial amendment of the Articles of Association and in relation to the share consolidation to authorize the Board of Directors to insofar necessary cancel up to the maximum number of shares held by the company in its own share capital. Shareholders representing a total of 6.41% of the total issued and outstanding share capital entitled to vote were represented by proxy.

Bryan Jennings, CFO of NOXXON commented: "The approval of NOXXON's proposed share consolidation is an important sign of shareholder support for the company’s plans to improve share liquidity and stability. The consolidation, along with our compelling progress in the clinic, will strengthen our position with respect to potential future financing opportunities. We would like to thank our shareholders for their continuing support as we transition towards a more efficient capital structure."

The draft minutes of the meeting will soon be available on the NOXXON website (www.noxxon.com).

About NOXXON

NOXXON’s oncology-focused pipeline acts on the tumor microenvironment (TME) and the cancer immunity cycle by breaking the tumor protection 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 lead program NOX-A12 has delivered final top-line data from a Keytruda combination trial in metastatic colorectal and pancreatic cancer patients published at the ESMO conference in September 2020 and in July 2021 the company announced its Phase 2 study, OPTIMUS, to further evaluate safety and efficacy of NOX-A12 in combination with Merck’s Keytruda 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 radiotherapy 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 radiotherapy in newly diagnosed brain cancer patients who will not benefit clinically from standard chemotherapy has delivered top-line data from all three dose-escalation cohorts showing consistent tumor reductions and objective tumor responses. Additionally, GLORIA has been 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 can be found at: www.noxxon.com.