BASEL, Switzerland and BRIDGEWATER, N.J., April 10 /PRNewswire/ -- Speedel today announced that it has published its Annual Report 2005. This is the company’s first Annual Report as a public company since its listing on the SWX Swiss Exchange on 8 September 2005. The document is available in English, together with a short-form version in German. On 3 May 2006, the company will hold its Annual General Meeting (AGM) at the Fondation Beyeler, Riehen, Basel.
The Annual Report 2005, together with the invitation to the AGM, is being sent today to all shareholders. The admission card and voting material for the AGM will be sent to shareholders who are registered in the company’s share register as of 19 April 2006 at 17.00hrs.
Shareholders may address any enquiries about their shareholding or the procedure for voting at the AGM to:
SAG SIS Aktienregister AG Baslerstrasse 90 CH - 4600 Olten Switzerland Tel: +41 (0)62 205 36 95 Fax: +41 (0)62 205 39 66 mailto:christian.menzi@sag.ch
Non-shareholders may also order a copy of the Annual Report 2005 at the company’s website at: http://www.speedel.com/investor relations
A PDF version of the Annual Report 2005 may also be downloaded from the company’s website at: http://www.speedel.com/investor relations/financialdata
The programme and motions for the AGM may be downloaded from the company’s website at: http://www.speedel.com/investorrelations
About Speedel
Speedel is a public biopharmaceutical company that seeks to create value for patients, partners and investors by developing innovative therapies for cardiovascular and metabolic diseases. Speedel is a world leader in renin inhibition, a promising new approach with significant potential for treating cardiovascular diseases. Our lead compound SPP100 (Rasilez(1)), the first-in-class renin inhibitor, is partnered with Novartis for Phase III development and commercialization in hypertension. Our pipeline covers three different modes of action, and in addition to SPP100, includes SPP301 in Phase III, SPP200 in Phase II, SPP635 in Phase I, and several pre-clinical projects.
Speedel develops novel product candidates through focused innovation and smart drug development from lead identification to the end of Phase II. We either partner with big pharma for Phase III and commercialization in primary-care indications, or we may ourselves complete Phase III development in specialist indications. Candidate compounds for development and the company’s intellectual property come from our late-stage research unit Speedel Experimenta and from in-licensing.
Our team of approximately 70 employees, including over 30 experienced pharmaceutical scientists, is located at our headquarters and laboratories in Basel, Switzerland and at offices in New Jersey, USA and Tokyo, Japan. In March 2006, the company raised gross proceeds of CHF83.95 million (approximately EUR 53m or USD 64m) through the sale of 500,000 treasury shares. As a private company, we had previously raised gross proceeds of CHF 239 million (approximately EUR 154 million or USD 183 million) from private placements of equity securities and two convertible loans and we have had total revenues, principally from milestone payments, of CHF 57.7 million (approximately EUR 37 million or USD 44 million. The company’s shares were listed on the SWX Swiss Exchange under the symbol SPPN on 08 September 2005.
Forward looking statements
This press release includes forward-looking statements that involve substantial risks and uncertainties. These forward-looking statements are based on our current expectations and projections about future events. All statements, other than statements of historical facts, regarding our strategy, future operations, future financial position, future revenues, projected costs, prospects, plans and objectives of management are forward-looking statements. The word “may” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations described in these forward-looking statements and you should not place undue reliance on them. There can be no assurance that actual results of our research and development activities and our results of operations will not differ materially from these expectations. Factors that could cause actual results to differ from expectations include, among others: our or our partners’ ability to develop safe and efficacious products; our or our partners’ ability to achieve positive results in clinical trials; our or our partners’ ability to obtain marketing approval and market acceptance for our product candidates; our ability to enter into future collaboration and licensing agreements; the impact of competition and technological change; existing and future regulations affecting our business; changes in governmental oversight of pharmaceutical product development; the future scope of our patent coverage or that of third parties; the effects of any future litigation; general economic and business conditions, both internationally and within our industry, including exchange rate variations; and our future financing plans.
1. Rasilez (SPP100, aliskiren) is a Novartis trade name pending regulatory
approval
Speedel Pharmaceuticals Inc.
CONTACT: Nick Miles, Director Communications & Investor Relations, T:+41-61-206-40-00, D: +41-61-206-40-14, F: +41-61-206-40-01, M:+41-79-446-25-21, nick.miles@speedel.com, or Frank LaSaracina, ManagingDirector, T +1-732-537-2290, F:+1-732-537-2292, M: +1-908-338-0501,frank.lasaracina@speedel.com, both of Speedel Pharmaceuticals Inc.
