Changes in Medivir's management and Board of Directors

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Mar 22, 2021, 16:07 ET

STOCKHOLM, March 22, 2021 /PRNewswire/ -- Medivir AB (Nasdaq Stockholm: MVIR) today announces that Yilmaz Mahshid leaves the position as CEO of Medivir. The nomination committee proposes that he is elected as Board Member of the company and that Uli Hacksell is elected new Chairman of the Board.

Medivir's CEO Yilmaz Mahshid has today tendered his resignation for personal reasons. Yilmaz Mahshid will remain as CEO until the Annual General Meeting 2021, which takes place on May 5, 2021. The nomination committee has informed the board that it will propose that Yilmaz Mahshid is elected to Medivir's Board of Directors at the Annual General Meeting.

- "We thank Yilmaz Mahshid for his efforts as CEO. Important parts of Medivir's transformational work has been carried out and an important financing has been completed during his leadership. It is very positive, and valuable for continuity, that he has accepted to be nominated for election to the Board of Directors at the upcoming Annual General Meeting", Medivir's Chairman Helena Levander says in a comment.

The process of recruiting a new CEO has been initiated. The board intends to appoint an interim CEO for the period from the Annual General Meeting until the new CEO is in place.

Medivir's nomination committee has informed the board that it will propose, in addition to election of Yilmaz Mahshid as new Board Member, that Uli Hacksell is elected as new Chairman of the Board. In addition, the committee will propose that Uli Hacksell, Lennart Hansson, An van Es Johansson and Bengt Westermark are re-elected as Board Members. Bengt Julander and Helena Levander have declined to be re-elected. The nomination committee's full proposal will be presented in the notice to the Annual General Meeting and the committee's motivated statement will then be available on Medivir's website.

For additional information, please contact
Helena Levander, Chairman of the Board
Telephone +46 70 817 97 88
E-mail: [email protected]

Medivir AB is obliged to make this information public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the agency of the contact person set out above, at 8.00 p.m. CET on 22 March 2021

Medivir in brief
Medivir develops innovative drugs with a focus on cancer where the unmet medical needs are high. The drug candidates are directed toward indication areas where available therapies are limited or missing and there are great opportunities to offer significant improvements to patients. Medivir is focusing on the development of MIV-818, a pro-drug designed to selectively treat liver cancer cells and to minimize side effects.

Collaborations and partnerships are important parts of Medivir's business model, and the drug development is conducted either by Medivir or in partnership. Birinapant, a SMAC mimetic, is exclusively outlicensed to IGM Biosciences (Nasdaq: IGMS) to be developed in combination with IGM-antibodies for the treatment of solid tumors. Medivir's share (ticker: MVIR) is listed on Nasdaq Stockholm's Small Cap list. www.medivir.com.

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SOURCE Medivir