Helixmith Holds Annual General Meeting of Shareholders... "Committed to Enhancing Shareholder Value"

[Asia Economy Reporter Chunhee Lee] Helixmith has announced its commitment to enhancing information transparency and maximizing shareholder value.

Helixmith held its 25th general shareholders' meeting on the 31st of last month, where it presented its business achievements along with three major management policies: ▲early achievement of clinical goals ▲minimization of financial risks ▲active utilization of external resources.

At the meeting, the originally scheduled agenda items included ▲approval of the 2020 financial statements ▲amendment of the articles of incorporation ▲appointment of inside director Shin-Young Kim ▲approval of the director remuneration limit. However, following the resignation of former President Shin-Young Kim, these agenda items were excluded, and the resignation decision of CEO Seung-Shin Yoo, which was contingent upon Kim’s appointment as director, was also withdrawn accordingly. Among the other agenda items, only the approval of the financial statements passed, while the amendments to the articles of incorporation and the approval of the director remuneration limit were rejected.

On the same day, Helixmith held a shareholders' meeting along with a shareholders' briefing session. CEO Sun-Young Kim conducted an IR-style management status presentation and Q&A session. Through this briefing, CEO Kim presented the three major management directions.

First, the company plans to focus on the early achievement of clinical goals for 'Engensis (VM202)'. More than two-thirds of this year's budget will be concentrated to successfully complete the Phase 3-2 clinical trial for diabetic peripheral neuropathy (DPN) in the shortest possible time, and the Phase 3-2b and Phase 3-3 trials for DPN will be designed to meet the FDA’s Biologics License Application (BLA) requirements. Additionally, for rare disease targets such as amyotrophic lateral sclerosis (ALS) Phase 2a and Charcot-Marie-Tooth disease (CMT) Phase 1/2a, the company plans to create early licensing opportunities after clinical trials.

Second, the company aims to minimize financial risks. To this end, it plans to sell Xenophys, establish a strategic alliance with Barker, and implement tight management to eliminate financial risks over the next two years until the major clinical trials of Engensis are completed. Furthermore, it intends to strengthen internal controls and financial capabilities, and spin off or sell assets other than Engensis (VM202) as much as possible.

Lastly, the company intends to actively utilize external resources for the continuous development of mid- to long-term new candidate substances. This includes areas such as plasmid DNA, AAV gene therapy, CAR-T cancer therapy, antibodies, and natural product therapeutics.

CEO Sun-Young Kim stated, “Despite various difficulties during the global COVID-19 situation last year, diverse projects such as Engensis’ DPN Phase 3-2 trial in the U.S., ALS Phase 2 trial in the U.S., and CMT Phase 1/2a trial in Korea are progressing without major setbacks. This year, we will focus on advancing clinical trials in earnest to further enhance corporate value and do our best to improve shareholder value.”

This content was produced with the assistance of AI translation services.