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Resolutions taken by Mithra’s Board of Directors

Liege, Belgium, 03 March 2023 – 21:15 CET – Meeting this Thursday 2nd and Friday 3rd March to discuss the approval of the 2022 annual results, R&D follow-up, and corporate governance topics, the Board of Directors of Mithra (Euronext Brussels: MITRA), a company dedicated to women’s health, would like to update the market on the resolutions decided today.

Considering the recent news flow completed by the Company, the Board of Directors strengthened its confidence that the company will deliver on its promises moving forward:

  • the positive safety profile of our product candidate Donesta® as outlined in a separate press release disclosed earlier today;
  • the BCI scientific achievements revealing that the Preclinical studies confirm the broad potential of innovative and proprietary inhibitors of CSF-1R to treat different pathologies, including endometriosis, cancer and inflammatory disorders. These results reinforce Mithra’s intent to acquire BCI Pharma’s IP rights and finalize the acquisition option to develop new tyrosine kinase inhibitors for the treatment of endometriosis, female cancers and other diseases;
  • the fact that Mithra’s management is looking to optimize the potential of our CDMO;
  • the perspectives in terms of business development for the US.

The Board of Directors also discussed the progress made on the selection of a new CEO. According to the mandate given a few months ago to a first-class head hunter in order to find a successor to Mr. Leon Van Rompay, the Company received pronounced interest for this position of international high profile candidates. Three candidates have been selected by the Nomination and Remuneration committee for presentation to the approval of the Board. Mithra’s new CEO should be announced as soon as possible.

Mr. Van Rompay confirmed his willingness to remain CEO of Mithra up until the end of this process.  Once it is completed, Mr. Van Rompay will continue assisting the Company for dedicated advices, like Mr. Fornieri is currently doing. The Board will be delighted to still have Mr. Van Rompay as a dedicated advisor, given his extensive experience in the pharmaceutical sector.

Additionally, the mandates of the Board members will expire at the end of the next Ordinary General Meeting.  The selection process is ongoing and Mithra aims to add new profiles whose expertise and competence in the pharmaceutical and financial sector will contribute to ensure the quality and relevance of the directions taken in the development and commercialization of its products.

Christian Moretti, Chairman of Mithra’s Board of Directors, commented:

“The Board of Directors has adopted constructive resolutions that will enable the company to build on the very encouraging progress made in recent weeks. These results once again attest to the many future possibilities that Mithra is able to offer.”

François Fornieri, Co-founder and largest shareholder of Mithra, added:

“I have obtained insurance that the R&D results and especially BCI achievements are very promising for the Company. The new CEO will have to bring on its extensive potential. In this regards, I am pleased to learn that high profile candidates are being considered and are rapidly available to lead Mithra into a new era. The new CEO will have to help Mithra regain the investor confidence it had in the past and still deserves. I will continue my role as an advisor to the Company if the new CEO so wishes.”

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