January 2019: Resignations from the Board of Directors
The two Board members Dr. Herbert Früh and Manuel Frick resigned from the Board of Directors of InnoMedica Holding AG as of mid-January 2019. Herbert Früh has been a member of the Board of Directors since 2000 and acting as president from 2003 to 2018. With many years of industry and leadership experience, he has made a valuable contribution to the successful development of InnoMedica’s product pipeline and operations. Manuel Frick was elected to the Board of Directors in 2017 and has been particularly active in the area of compliance.
Background to the resignation of the Board of Directors
The resignations take place in the context of differing views on the strategic direction of the company. This includes the functional separation of the Board of Directors from the Executive Board and the formation of a Holding structure. The resignation of the two board members brings clarity regarding the responsibilities and ensures the efficient management of the company by the board of directors. The remaining three directors are well familiar with the challenges and decisions that lie ahead thanks to their years of experience and of working together and represent a well-rehearsed team. For the next General Assembly, the Board will make a proposal for the extension of the Board.
Successful development of the operational business
The projects most important for the operational success of InnoMedica are all making good progress:
- Personnel: The existing team was moderately expanded in 2018 through recruiting of qualified specialists.
- Talidox: The clinical trial with the cancer drug Talidox started in November 2018 and is proceeding according to plan.
- Infrastructure: During the expansion of the production facility at the Marly site, the installation of the new cleanroom began in January, marking a major milestone in scaling production.
- Talineuren: The preclinical phase of Talineuren is largely completed, the toxicology study and the Phase I clinical trial are already in planning. The collaboration with TRB Chemedica ensures the supply of key active ingredients and provides access to additional production capacity as well as TRB’s worldwide distribution network.
- Capital increase: In order to further consolidate InnoMedica’s good operating position, the company is planning a capital increase in the second quarter of 2019. Preparations have already begun.