VectivBio Publishes Invitation to the Extraordinary General Meeting of Shareholders

Rhea-AI Summary

VectivBio Holding AG (Nasdaq: VECT) announced an Extraordinary General Meeting set for December 9, 2022, in Basel, Switzerland, to elect Wouter Joustra to its Board of Directors. The meeting will occur virtually, in light of the ongoing COVID-19 pandemic, with shareholders represented by an independent proxy only. VectivBio is currently developing its lead product, apraglutide, aimed at treating rare gastrointestinal diseases, alongside its CoMET platform for inherited metabolic diseases.

Positive

• The election of Wouter Joustra as a new Board member could bring fresh perspectives to VectivBio's strategic direction.

Negative

• The Extraordinary General Meeting will be virtual, potentially limiting shareholder engagement.
• Ongoing risks from the COVID-19 pandemic may impact operational activities and shareholder participation.

BASEL, Switzerland, Nov. 16, 2022 (GLOBE NEWSWIRE) -- VectivBio Holding AG (“VectivBio”) (Nasdaq: VECT), a clinical-stage biopharmaceutical company pioneering novel transformational treatments for severe rare conditions, today published the invitation to the Extraordinary General Meeting, which will be held on Friday, December 9, 2022, at 10:00 a.m. CET / 4:00 a.m. EST at the offices of VectivBio Holding AG at Aeschenvorstadt 36, 4051 Basel, Switzerland.

The sole agenda item of the Extraordinary General Meeting will be the election of Wouter Joustra as a new member of the Board of Directors.

In view of the ongoing COVID-19 pandemic, and in accordance with the Ordinance 3 of the Swiss Federal Council regarding measures on combatting the coronavirus (COVID-19), the Extraordinary General Meeting will take place without the personal attendance of shareholders. Shareholders shall be represented at the Extraordinary General Meeting exclusively by the independent proxy. For information on how to exercise rights and issue voting instructions to the independent proxy, shareholders can access the invitation to the Extraordinary General Meeting at www.edocumentview.com/VECT.

About VectivBio AG

VectivBio is a global clinical-stage biotechnology company focused on transforming and improving the lives of patients with severe rare conditions. Lead product candidate apraglutide is a next-generation, long-acting synthetic GLP-2 analog being developed for a range of rare gastrointestinal diseases where GLP-2 can play a central role in addressing disease pathophysiology, including short bowel syndrome with intestinal failure (SBS-IF) and Acute Graft-Versus-Host Disease (aGVHD).

VectivBio is also advancing its modular, small molecule CoMET platform to address a broad range of previously undruggable Inherited Metabolic Diseases (IMDs). CoMET leverages innovative chemistry, based on a proprietary stabilized pantetheine backbone, to restore fundamental cellular metabolism in pediatric populations with IMDs characterized by a deficit of energy metabolism caused by the depletion of functional Coenzyme A (“CoA”). Candidates from the CoMET platform are initially being evaluated in methylmalonic acidemia (MMA), propionic acidemia (PA), and other organic acidemias.

Learn more at www.vectivbio.com, and follow us on LinkedIn and Twitter.

Forward Looking Statements:

Forward-looking statements are statements that are not historical facts. Words and phrases such as “anticipated,” “forward,” “will,” “would,” “may,” “remain,” “potential,” “prepare,” “expected,” “believe,” “plan,” “near future,” “belief,” “guidance,” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements concerning the timing of the Extraordinary General Meeting. Such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond VectivBio’s control, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking statements. Such risks and uncertainties include, but are not limited to: the impacts of the ongoing COVID-19 pandemic and those risks and uncertainties identified in the “Risk Factors” section of VectivBio’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on April 7, 2022 and its subsequent filings with the Securities and Exchange Commission. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, VectivBio undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

Contact:

Patrick Malloy
VectivBio SVP, Investor Relations and Strategic Communications
Patrick.Malloy@vectivbio.com

FAQ

What is the date of the upcoming Extraordinary General Meeting for VectivBio?

The Extraordinary General Meeting is scheduled for December 9, 2022.

Who is being elected to the Board of Directors during VectivBio's meeting?

Wouter Joustra is nominated for election to the Board of Directors.

How will VectivBio's Extraordinary General Meeting be conducted?

The meeting will be held virtually without personal attendance due to the COVID-19 pandemic.

What is VectivBio's lead product candidate?

VectivBio's lead product candidate is apraglutide, a treatment for rare gastrointestinal diseases.

What are the main focuses of VectivBio's research?

VectivBio focuses on severe rare conditions and developing treatments for gastrointestinal diseases and inherited metabolic disorders.