ADC Therapeutics Shareholders Approve All Resolutions at the Annual General Meeting

Rhea-AI Summary

ADC Therapeutics (NYSE:ADCT) announced that shareholders approved all resolutions proposed at the Annual General Meeting (AGM). Key decisions include the election of Viviane Monges to the Board, who brings over 30 years of financial experience in the pharmaceutical sector.

The re-election of the current Board members and Compensation Committee was also confirmed, along with an increase in the maximum Board size to 12 members. Financial proposals were approved, including an increase in Authorized Share Capital by CHF 1,170,800, ensuring continued operational capacity for advancing ADC technology in cancer treatment.

Positive

• Election of Viviane Monges to the Board adds executive financial expertise.
• All resolutions, including financial proposals, were approved.
• Increase in Authorized Share Capital by CHF 1,170,800 supports future growth.

Negative

• None.

ADC Therapeutics SA (NYSE:ADCT), a commercial-stage biotechnology company leading the development of novel antibody drug conjugates (ADCs) to treat hematological malignancies and solid tumors, today announced that shareholders approved all of the resolutions as proposed by the Board of Directors at yesterday's Annual General Meeting (AGM).

Election of new Board member Viviane Monges

Shareholders approved the election of Viviane Monges to the board of directors. Ms. Monges has 30 years of executive-level financial leadership experience with global corporations, predominantly in the pharmaceutical industry. She is a veteran Chief Financial Officer (CFO) who has worked cross-functionally at both large and small companies deploying innovative strategies and building out finance teams.

Ms. Monges was CFO of the Business Excellence Division at Nestlé. Prior to that, she spent nearly two decades leading financial operations for divisions of three pharmaceutical companies. She served as Group CFO at Galderma S.A., a multinational dermatology company. Ms. Monges served at Novartis A/G as EMEA CFO and then as Global CFO of the OTC Division. At Wyeth Pharmaceuticals/Pfizer she served as CFO of the Europe Region unit and as CFO of the Global Pharma Business unit.

Ms. Monges provides financial and leadership counsel to companies as a board member of several innovative healthcare corporations, including DBV Technologies and Voluntis in France, UCB in Belgium, and Novo Holdings A/S in Denmark. Until May 2021, Ms. Monges also served on the board of Idorsia Pharmaceuticals.

Re-election of the Board and Compensation Committee

• Shareholders approved the re-election of Chairman of the Board Ron Squarer and all members of the Board who stood for re-election, for a term of one year.

• Shareholders approved the proposed compensation of the Board of Directors and the Executive Committee, for a term of one year.

• Shareholders approved an amendment to the Company’s Articles of Association to increase the maximum size of the Board of Directors to 12 members.

• Shareholders approved the re-election of all members of the Compensation Committee, each for a term of one year.

Other proposals

• All financial and capital proposals were approved including the increase and renewal of the Company’s Authorized Share Capital by CHF 1,170,800.

• Shareholders approved the re-election of the independent proxy and statutory auditor, each for a term of one year.

For a complete overview of the results of the Company’s AGM please refer to the Form 6-K filing at https://ir.adctherapeutics.com/sec-filings.

About ADC Therapeutics

ADC Therapeutics (NYSE: ADCT) is a commercial-stage biotechnology company improving the lives of cancer patients with its next-generation, targeted antibody drug conjugates (ADCs). The Company is advancing its proprietary PBD-based ADC technology to transform the treatment paradigm for patients with hematologic malignancies and solid tumors.

ADC Therapeutics’ CD19-directed ADC ZYNLONTA™ (loncastuximab tesirine-lpyl) is approved by the FDA for the treatment of relapsed or refractory diffuse large B-cell lymphoma after two or more lines of systemic therapy. ZYNLONTA is also in late-stage clinical trials in combination with other agents. Cami (camidanlumab tesirine) is being evaluated in a late-stage clinical trial for relapsed or refractory Hodgkin lymphoma and in a Phase 1b clinical trial for various advanced solid tumors. In addition to ZYNLONTA and Cami, the Company has multiple PBD-based ADCs in ongoing clinical and preclinical development.

ADC Therapeutics is based in Lausanne (Biopôle), Switzerland and has operations in London, the San Francisco Bay Area and New Jersey. For more information, please visit https://adctherapeutics.com/ and follow the Company on Twitter and LinkedIn.

ZYNLONTA™ is a trademark of ADC Therapeutics SA.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210611005063/en/

FAQ

What were the results of ADC Therapeutics' AGM on the stock symbol ADCT?

Shareholders approved all resolutions, including the election of Viviane Monges to the Board and financial proposals.

Who is Viviane Monges elected to the Board of ADC Therapeutics (ADCT)?

Viviane Monges is a veteran CFO with 30 years of experience in the pharmaceutical industry.

What financial changes were approved at ADC Therapeutics' AGM?

An increase in Authorized Share Capital by CHF 1,170,800 was approved.

What is ADC Therapeutics' focus as a biotechnology company?

ADC Therapeutics focuses on developing novel antibody drug conjugates for cancer treatment.