VERAXA Biotech Shareholders Overwhelmingly Approve Key Proposals

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. This strong shareholder support underscores confidence in VERAXA's strategic direction as it advances its antibody-based cancer therapeutics and long-term value creation.

The company highlighted that 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. The BiTAC(R) platform, a registered trademark of VERAXA Biotech GmbH, represents a proprietary approach to bispecific T cell engagers and antibody-drug conjugates (ADCs). VERAXA was founded on scientific breakthroughs at the European Molecular Biology Laboratory (EMBL), a world-renowned institution for life science research. With this vote, management believes they are well-positioned to execute on their vision of building a premier engine for next-generation antibody-based therapeutics.

For more details, the full press release is available at https://ibn.fm/qfL87. Investors can also find the latest news and updates in the company's newsroom at https://ibn.fm/VRXA. This development signals a pivotal moment for VERAXA as it seeks to expand its pipeline and pursue transformative growth in the competitive oncology landscape.