Pharnext announces approval of resolutions at its Annual General Meeting of 17 July 2020

Press Release

Pharnext announces approval of resolutions at its Annual General Meeting of 17 July 2020

PARIS, France, 20 July 2020 à 06.00 pm (CET) - Pharnext SA (FR0011191287 - ALPHA), a biopharmaceutical

company pioneering new approaches to develop innovative drug combinations based on big genomics data

and artificial intelligence, held its Annual General Meeting ("AGM") on Friday, July 17, 2020, in a closed session, pursuant to specific French government rules surrounding the Covid-19 pandemic.

All resolutions proposed by the Pharnext Bord of Directors (the "Board") were adopted during the AGM, including financial delegations granted to the Board and the nomination of six new administrators, as proposed by the Board:  Alexandre Berda, Dr. Jean Combalbert, Joshua Schafer, Dr. David Solomon (also CEO of Pharnext), Prof. Lawrence Steinman, Dr. Elisabeth Svanberg.

Following the departure of five Board members, the Board is now composed of the following ten administrators:  Alexandre Berda, Pierre Bastid, Jean Combalbert, Kenneth Lee (representing Tasly Hong-Kong Pharmaceutical Ltd), Philippe Pouletty (representing Truffle Capital SAS), Michel de Rosen, Joshua Schafer, David H. Solomon, Lawrence Steinman, Elisabeth Svanberg.

Michel de Rosen, President of the Board, commented:  "Our Board of Directors is a remarkable combination of experienced, diverse and talented individuals. The Board will be a strong resource to achieve upcoming key goals in Pharnext's clinical development in neurology, in our evolving portfolio and business development, while respecting good corporate governance principles. Thus the Board will help take Pharnext to the next level of its development. We are grateful for the support of our shareholders."

About Pharnext

Pharnext is an advanced clinical-stage biopharmaceutical company developing novel therapeutics for orphan and common neurodegenerative diseases that currently lack curative and/or disease-modifying treatments. Pharnext hastwo lead productsin clinical development. PXT3003 completed an international Phase 3 trial with positive topline results for the treatment of Charcot-Marie-Tooth disease type 1A and benefits from orphan drug status in Europe and the United States. PXT864 has generated encouraging Phase 2 results in Alzheimer's disease. Pharnext has developed a new drug discovery paradigm based on big genomics data and artificial intelligence: PLEOTHERAPY(TM). Pharnext identifies and develops synergic combinations of drugs called PLEODRUG(TM). The Company wasfounded by renowned scientists and entrepreneursincluding Professor Daniel Cohen, a pioneer in modern genomics, and is supported by a world-class scientific team. More information at www.pharnext.com. 

Pharnext is listed on the Euronext Growth Stock Exchange in Paris (code ISIN : FR0011191287).

Disclaimer

This press release contains certain forward-looking statements concerning Pharnext and its business. Such forward-looking statements are based on assumptions that Pharnext considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in Pharnext's document de base filed with the AMF on June 2, 2016 under number I.016-0050 as well as in its annual periodic management reports and press releases (copies of which are available on www.pharnext.com) and to the development of economic conditions, financial markets and the markets in which Pharnext operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Pharnext or not currently considered material by Pharnext. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Pharnext to be materially different from such forward-looking statements.

Pharnext disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

This press release and the information that it contains do not constitute an offer to sell or subscribe for, or a solicitation of an offer to purchase or subscribe for, Pharnext shares in any country.

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