Cellectis Reports Results from Shareholders Meeting Held on December 22, 2023
Cellectis (Euronext Growth: ALCLS; Nasdaq: CLLS) held a shareholders general meeting at which resolutions 1 through 5 and 7 and 8 were adopted and resolution 6 was rejected. Shareholders supported a contemplated $140M additional investment by AstraZeneca, subject to clearance from the French Ministry of Economy. Mr. Marc Dunoyer and Dr. Tyrell Rivers were approved as directors of the Cellectis board of directors.
The recent shareholders meeting of Cellectis, a biotechnology firm, resulted in significant corporate decisions including the approval of a substantial $140M investment by AstraZeneca. This capital injection, through the issuance of convertible preferred shares, indicates a robust partnership between the two entities and underscores AstraZeneca's confidence in Cellectis' gene-editing technologies.
From a financial perspective, the investment could enhance Cellectis' liquidity, potentially accelerating its research and development activities. The pricing of the shares at $5.00 suggests a strategic valuation which stakeholders should compare with the current market price to assess dilution effects. The transaction's dependency on regulatory approval is a critical factor that investors should monitor, as any hurdles could affect the expected capital flow and project timelines.
The strategic partnership with AstraZeneca could expedite Cellectis' pursuit of innovative cell and gene therapies. The additional funds might enable the company to progress through clinical trials more swiftly, which is crucial in the highly competitive biotech landscape. The appointment of industry veterans Mr. Dunoyer and Dr. Rivers to the board may bring valuable pharmaceutical expertise and strategic insights, potentially leading to more informed decision-making and governance.
Investors should consider the implications of this partnership on Cellectis' pipeline and its position within the gene-editing field. The potential for accelerated development of therapies for unmet medical needs may not only benefit patients but could also enhance Cellectis' market position and long-term profitability.
The biotechnology sector is witnessing increased collaboration and Cellectis' alliance with AstraZeneca exemplifies this trend. The investment and board appointments signify deeper ties that could foster innovation and operational synergies. Stakeholders should evaluate how these moves align with industry trends of consolidation and strategic partnerships aimed at sharing risks and benefits in drug development.
It is also pertinent to analyze the broader impact on the industry, including potential shifts in competitive dynamics and how such collaborations may drive consolidation or encourage further investments in gene-editing technology.
12/22/2023 - 04:30 PM
NEW YORK, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Cellectis (Euronext Growth: ALCLS; Nasdaq: CLLS), a clinical-stage biotechnology company using its pioneering gene-editing platform to develop life-saving cell and gene therapies, held today a shareholders general meeting at 2:30 p.m. CET at the Biopark auditorium, 11 rue Watt, 4th floor, 75013 Paris, France.
At the meeting, resolutions 1 through 5 as well as resolutions 7 and 8 were adopted and resolution 6 was rejected, consistent with the recommendations of the board of directors.
Cellectis’ shareholders supported the contemplated $140M additional investment by AstraZeneca in the Company, to be effected by way of subscription of 10,000,000 newly created “class A” convertible preferred shares and 18,000,000 newly created “class B” convertible preferred shares, in each case at a price of $5.00 per share (the “Additional Investment”).
The completion of the Additional Investment remains subject to the clearance of such investment from the French Ministry of Economy pursuant to applicable foreign direct investment regulations, and other customary closing conditions.
The Company’s shareholders also approved the appointments of Mr. Marc Dunoyer and Dr. Tyrell Rivers as directors of the Cellectis board of directors, which appointment remains subject to the completion of the Additional Investment.
“We are grateful to our shareholders for supporting the Additional Investment and we are looking forward to welcoming Mr. Dunoyer and Dr. Rivers to our board of directors. Their extensive experience in the pharma industry will be an additional asset for the Company. This Additional Investment would provide meaningful and valued perspectives to our common ambition of bringing potentially life-saving therapies to patients with unmet medical needs ” said Jean Pierre Garnier, Chairman of the Board of Directors at Cellectis.
Mr. Marc Dunoyer is Chief Strategy Officer of AstraZeneca and Chief Executive Officer of Alexion, AstraZeneca Rare Disease. He had previously served as an Executive Director and AstraZeneca’s Chief Financial Officer from November 2013. Mr. Marc Dunoyer’s career in pharmaceuticals, which has included periods with Roussel Uclaf, Hoechst Marion Roussel and GSK, has given him extensive industry experience. He is a qualified accountant and joined AstraZeneca in 2013, serving as Executive Vice-President, Global Product and Portfolio Strategy from June to October 2013. Prior to that, he served as Global Head of Rare Diseases at GSK and (concurrently) Chairman, GSK Japan. Mr. Dunoyer is a member of the Boards of Orchard Therapeutics Plc and JCR Pharmaceuticals. He holds an MBA from HEC Paris and a Bachelor of Law degree from Paris University.
Dr. Tyrell Rivers is Executive Director of Corporate Ventures at AstraZeneca, where he is responsible for creating and executing innovative, value-enhancing business strategies. Prior to assuming this role in 2014, he worked at MedImmune Ventures, specializing in life science investing. Earlier in his career, Dr. Rivers held various positions at Merck & Co., where he led technical support for commercial vaccines and directed global business initiatives for accessing key technologies for research and development. He currently serves as a Board member of ADC Therapeutics, Cerapedics, and Quell Therapeutics. Dr. Rivers holds his B.S. in Chemical Engineering from the Massachusetts Institute of Technology, a Ph.D. in Chemical Engineering from the University of Texas at Austin, and an M.B.A. from the New York University Stern School of Business.
The detailed results of the vote and the resolutions are available on Cellectis’ website:https://www.cellectis.com/en/investors/general-meetings/
About Cellectis
Cautionary Statement www.cellectis.com ), may adversely affect such forward-looking statements and cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future.
For further information on Cellectis, please contact:
Media contact: media@cellectis.com
Investor Relations contacts: investors@cellectis.com
Resolutions 1 through 5 and 7 and 8 were adopted, and resolution 6 was rejected. Shareholders supported a contemplated $140M additional investment by AstraZeneca.
AstraZeneca plans to invest $140M in Cellectis by subscribing to 10,000,000 newly created 'class A' convertible preferred shares and 18,000,000 newly created 'class B' convertible preferred shares at a price of $5.00 per share.
Mr. Marc Dunoyer and Dr. Tyrell Rivers were approved as directors of the Cellectis board of directors.
The completion of the additional investment remains subject to clearance from the French Ministry of Economy and other customary closing conditions.
