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IMV Announces Annual and Special Meeting of Shareholders Voting Results
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
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Rhea-AI Summary
IMV Inc. announced the voting outcomes of its annual meeting held on June 29, 2022, where all resolutions, including the election of directors, were accepted. Shareholder voting percentages for candidates like Michael Bailey and Brittany Davison were notably high, with 99.11% and 99.32% approval, respectively. The meeting also approved the appointment of PricewaterhouseCoopers as independent auditor and an amendment to the deferred share unit plan increasing share reservation to 2 million. Former board chair Andrew Sheldon did not seek re-election, while Joy Bessenger left her position in an organizational shift.
Positive
All resolutions at the shareholder meeting were accepted, indicating strong support from investors.
High approval ratings for board nominees, with Michael Bailey receiving 99.11% of votes.
The appointment of PricewaterhouseCoopers as independent auditor was approved.
The amendment to increase share reserves under the DSU Plan by over 1 million shares.
IMV's lead candidate MVP-S shows promise with clinical proof of concept established.
Negative
None.
DARTMOUTH, Nova Scotia & CAMBRIDGE, Mass.--(BUSINESS WIRE)--
IMV Inc. (“IMV” or the “Company”) (NASDAQ: IMV; TSX: IMV), a clinical-stage company developing a portfolio of immune-educating therapies based on its novel DPX® platform to treat solid and hematologic cancers, today announced the voting results from its annual and special meeting of shareholders held on June 29, 2022 (the “Meeting”).
Based on the votes received, all resolutions were accepted, including the election of directors, for whom details of the votes are as follows:
Name of
nominee
Votes FOR
% of votes
FOR
Votes
Withheld
% of votes
Withheld
Michael Bailey
27,525,895
99.11%
246,171
0.89%
Brittany Davison
27,582,627
99.32%
189,439
0.68%
Julia P. Gregory
27,144,284
97.74%
627,782
2.26%
Andrew Hall
27,568,568
99.27%
203,498
0.73%
Michael Kalos
27,573,095
99.28%
198,970
0.72%
Kyle Kuvalanka
27,569,209
99.27%
202,856
0.73%
Shermaine Tilley
27,333,424
98.42%
438,641
1.58%
Markus Warmuth
27,354,231
98.50%
417,835
1.50%
Andrew Sheldon, former board chair, did not stand for re-election at the meeting. Michael Bailey, recently appointed Chairman of the Board, commented: “On behalf of my fellow board members and the IMV management team, I would like to thank Andy for his exceptional leadership and service to the Company over the past six years. During his tenure at IMV, Andy oversaw a number of important developments including establishing clinical proof of concept for our lead candidate, MVP-S. I know that Andy will be missed by the entire team and we wish him well in his future endeavors.”
Shareholders approved the appointment of PricewaterhouseCoopers, LLP, Chartered Professional Accountants, as independent auditor for the Company for the ensuing year and that the board of directors of the Company be authorized to fix its remuneration.
Shareholders approved an amendment to the Company’s deferred share unit plan (the “DSU Plan”) to increase of the number of Shares reserved for issuance under the DSU Plan by 1,031,250, bringing the share reserve up to 2,000,000 Shares.
The Company would also like to thank Joy Bessenger, who left her position of Senior Vice President, Investor Relations and Corporate Strategy of the Company on June 11, 2022 as part of an organizational realignment.
Please refer to the Circular available on SEDAR at www.sedar.com for more information on the business transacted at the Meeting. A report on voting results will also be filed on SEDAR.
A recording of the meeting will be available on the Company’s website under Events and Presentations.
About IMV
IMV Inc. is a clinical-stage immuno-oncology company advancing a portfolio of therapies based on the Company’s immune-educating platform: the DPX® technology. Through a differentiated mechanism of action, the DPX platform delivers instruction to the immune system to generate a specific, robust, and persistent immune response. IMV’s lead candidate, maveropepimut-S (MVP-S), delivers antigenic peptides from survivin, a well-recognized cancer antigen commonly overexpressed in advanced cancers. MVP-S also delivers an innate immunity activator and a universal CD4 T cell helper peptide. These elements foster maturation of antigen presenting cells as well as robust activation of CD8 T cell effector and memory function. MVP-S treatment has been well tolerated and has demonstrated defined clinical benefit in multiple cancer indications as well as the activation of a targeted and sustained, survivin-specific anti-tumor immune response. MVP-S is currently being evaluated in clinical trials for hematologic and solid cancers, including Diffuse Large B Cell Lymphoma (DLBCL) as well as ovarian, bladder and breast cancers. IMV is also developing a second immunotherapy leveraging the DPX immune delivery platform, DPX-SurMAGE. This dual-targeted immunotherapy combines antigenic peptides for both the survivin and MAGE-A9 cancer proteins to elicit immune responses to these two distinct cancer antigens simultaneously. A Phase 1 clinical trial in bladder cancer was initiated in early 2022. For more information, visit www.imv-inc.com and connect with us on Twitter and LinkedIn.
IMV Forward-Looking Statements
This press release contains forward-looking information under applicable securities law. All information that addresses activities or developments that we expect to occur in the future is forward-looking information. Forward-looking statements use such word as “will”, “may”, “potential”, “believe”, “expect”, “continue”, “anticipate” and other similar terminology. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements regarding the potential impact of the VITALIZE study and the anticipated date data from such study is available, the Company’s ability to advance its development strategy, as well as the prospects, for its lead immunotherapy and its other pipeline of immunotherapy candidates. However, they should not be regarded as a representation that any of the plans will be achieved. Actual results may differ materially from those set forth in this press release due to risks affecting the Company, including access to capital, the successful design and completion of clinical trials and the timely receipt of all regulatory approvals to commence, and then continue, clinical studies and trials and the receipt of all regulatory approvals to commercialize its products. IMV Inc. assumes no responsibility to update forward-looking statements in this press release except as required by law. These forward-looking statements involve known and unknown risks and uncertainties, and those risks and uncertainties include, but are not limited to, those related to the Company’s expected timeline associated with its cash runway; the Company’s priorities with MVP-S and its DPX delivery platform, the potential for its delivery platform and the anticipated timing of enrollment and results for its clinical trial programs and studies as others risks detailed from time to time in our ongoing quarterly filings and annual information form. Investors are cautioned not to rely on these forward-looking statements and are encouraged to read IMV’s continuous disclosure documents, including its current annual information form, as well as its audited annual consolidated financial statements which are available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov/edgar.
What were the voting results of IMV's shareholder meeting on June 29, 2022?
At IMV's shareholder meeting on June 29, 2022, all resolutions were accepted, including high percentages of votes for directors like Michael Bailey and Brittany Davison.
What changes occurred in IMV's board of directors during the June 2022 meeting?
Andrew Sheldon did not stand for re-election, while Michael Bailey was newly appointed as Chairman of the Board.
Who was appointed as IMV's independent auditor for the ensuing year?
PricewaterhouseCoopers was approved as the independent auditor for IMV Inc. at the June 29, 2022, meeting.
What amendment was made to IMV's deferred share unit plan during the shareholder meeting?
The amendment increased the number of shares reserved under the deferred share unit plan to 2 million shares.
What was the role of Joy Bessenger at IMV before her departure?
Joy Bessenger was the Senior Vice President of Investor Relations and Corporate Strategy before leaving the company on June 11, 2022.
