('Synairgen' or the 'Company')
Directorate Change, Posting of Annual Report, and Notice of AGM
Southampton, UK - 18 April 2019: Synairgen (LSE: SNG), the respiratory drug discovery and development company, today announces that Paul Clegg has notified the Company of his intention to retire from the Board as a non-executive director after the Company's 2019 Annual General Meeting on 3 June 2019. Iain Buchanan, non-executive director, will take on the Chairmanship of the Remuneration and Nomination Committee from that date.
Synairgen also announces that it has posted its Annual Report and Accounts for the twelve months ended 31 December 2018 to its shareholders together with the Notice of Annual General Meeting ("AGM"). The Company's AGM will be held at the offices of Fladgate LLP, 16 Great Queen Street, London WC2B 5DG on 3 June 2019 at 11 am.
Simon Shaw, Chairman of Synairgen, said: "On behalf of the Board, and personally, I would like to thank Paul for his significant contribution and advice to Synairgen over the last 10 years and for his Chairmanship of the Remuneration and Nomination Committee. We wish him well for the future."
The Annual Report and Notice of AGM are also available on the Company's website www.synairgen.com.
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For further enquiries, please contact:
Richard Marsden, Chief Executive Officer
John Ward, Finance Director
Tel: + 44 (0) 23 8051 2800
Geoff Nash, Max Bullen-Smith (Corporate Finance)
Alice Lane (ECM)
Tel: + 44 (0) 20 7220 0500
Consilium Strategic Communications (Financial Media and Investor
Mary-Jane Elliott, Sue Stuart, Olivia Manser
Tel: +44 (0) 20 3709 5700
Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on asthma and COPD, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease. Leveraging its scientific and clinical facilities at Southampton General Hospital, the Company uses in vitro and ex vivo models to progress opportunities into clinical development. The BioBank of human samples is used in these models to increase confidence in the likelihood of successful drug development.
Synairgen is currently conducting a two-part Phase II trial evaluating SNG001, the Company's inhaled interferon beta (IFN-beta) product. The Phase II trial, called SG015, has been designed to assess the safety of SNG001 in COPD patients and its clinical benefit in these patients when they have a cold or flu infection, a major driver of COPD exacerbations.
Core to Synairgen's business strategy is the realisation of value via licensing transactions. In August 2015 the Company entered into a collaboration with Pharmaxis to develop an oral LOXL2 inhibitor to reduce fibrosis in patients with idiopathic pulmonary fibrosis (IPF). In December 2017, the collaboration agreement was amended as Pharmaxis took on full responsibility for the programme, with Synairgen receiving a £5 million upfront payment and a share of at least 17% (net of allowable expenses) of any receipts from any onward licensing by Pharmaxis of the LOXL2 inhibitors in fibrotic indications.
Synairgen is quoted on AIM (LSE: SNG). For more information about Synairgen, please see www.synairgen.com
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