Liminal Announces Voting Results of Its 2020 Annual And Special General Meeting of Shareholders (AGM)

June 9, 2020

LAVAL, QC, and CAMBRIDGE, UK – June 9, 2020 – Liminal BioSciences Inc. (Nasdaq & TSX: LMNL) (“Liminal BioSciences” or the “Company”), a clinical-stage biopharmaceutical company today announced the voting results from its Annual General and Special Meeting of Shareholders (“AGM”) held virtually on June 8, 2020. A total of 20,352,943 common shares were voted, representing 86.90%.  of the votes attached to the issued and outstanding common shares of Liminal BioSciences.

 

Election of Directors of the Company

The seven (7) nominees set forth in the Circular were elected as directors of the Company to hold office until the next annual meeting of shareholders or until their successors are elected or appointed.

 

Name of Nominee

 

For

 

Withheld / Abstain

 

 

Votes

%

 

Votes

%

Stefan Clulow

 

20,157,915

99.45

 

111,388

0.55

Simon Best

 

20,157,874

99.45

 

111,429

0.55

Kenneth Galbraith

 

20,218,093

99.75

 

51,210

0.25

Gary Bridger

 

20,217,198

99.74

 

52,105

0.26

Neil A. Klompas

 

20,217,670

99.75

 

51,633

0.25

Zachary Newton

 

20,218,262

99.75

 

51,041

0.25

Timothy Steven Wach

 

20,167,309

99.50

 

101,994

0.50

 

Appointment of Auditors

PricewaterhouseCoopers LLP were appointed as auditors of the Company to hold office until the next annual meeting of shareholders, and the board of directors was authorized to fix the auditors’ remuneration.

Articles of Amendment

The amendment to the articles of the Company to allow meetings of the shareholders of the Company to be held at certain places outside of Canada as described in the Circular was approved by special resolution.

By-Law

The amendments to By-Law No. 1 of the Company adopted by the board of directors of the Company (i) on March 16, 2020 in order to provide for meetings of shareholders to be held at certain places outside of Canada, and (ii) on April 3, 2020 in order to provide the possibility to hold shareholder meetings by electronic means, was ratified, confirmed and approved.

Amendment of the exercise price of Stock Options

The amendment of the exercise price of the stock options of the Company as describe in the Circular, subject to any necessary regulatory approval, was ratified and approved.

Detailed voting results for the 2020 AGM are available on SEDAR at www.sedar.com and the SEC at www.sec.gov

 

About Liminal BioSciences Inc.

Liminal BioSciences is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing novel treatments for patients suffering from diseases related to fibrosis, including respiratory, liver and kidney diseases that have high unmet medical need. Liminal BioSciences has a deep understanding of certain biological targets and pathways that have been implicated in the fibrotic process, including fatty acid receptors such as FFAR1(GPR40) or FFAR1, G-protein-coupled receptor 84, or GPR84, and peroxisome proliferator-activated receptors, or PPARs. In preclinical studies, we observed that targeting these receptors promoted normal tissue regeneration and scar resolution, including preventing the progression of, and reversing established fibrosis. We also have encouraging clinical data that we believe supports the translatability of our preclinical data observations to the clinic.  We have leveraged this understanding, as well as our experience with generating small molecules, to build a pipeline of differentiated product candidates. Our lead small molecule product candidate, fezagepras (PBI-4050), is expected to enter an additional Phase 1 clinical trial to evaluate multiple ascending doses of fezagepras in healthy volunteers, at daily dose exposures higher than those previously evaluated in our completed Phase 1 and Phase 2 clinical trials.

Liminal BioSciences has also leveraged its experience in bioseparation technologies through its wholly-owned subsidiary Prometic Bioproduction Inc. to isolate and purify biopharmaceuticals from human plasma. Our lead plasma-derived product candidate is Ryplazim® (plasminogen), for which the Company expects to resubmit a BLA with the FDA seeking approval to treat patients with congenital plasminogen deficiency.

Liminal BioSciences has active business operations in Canada, the United Kingdom and the United States.

Forward Looking Statement

This press release contains forward-looking statements about Liminal BioSciences’ objectives, strategies and businesses information that involve risks and uncertainties. Forward‐looking information includes statements concerning, among other things, statements with respect to the timing of any planned BLA resubmission, development of R&D programs, the timing of initiation of clinical trials, the exploration of alternatives for the future commercialization of Ryplazim®, if approved, including through a third-party marketing collaboration, and the potential commercial launch of Ryplazim®, if approved.

These statements are "forward-looking" because they are based on our current expectations about the markets we operate in and on various estimates and assumptions. Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect our business, or if our estimates or assumptions turn out to be inaccurate. At this stage, the product candidates of the Company have not been authorized for sale in any country. Among the factors that could cause actual results to differ materially from those described or projected herein include, but are not limited to, Liminal BioSciences’ ability to develop, manufacture, and successfully commercialize product candidates if ever, the impact of the COVID-19 crisis on its business operations, clinical development, regulatory activities and financial and other corporate impacts, the availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical trials, the ability of Liminal BioSciences to take advantage of business opportunities in the pharmaceutical industry, uncertainties associated generally with research and development, clinical trials and related regulatory reviews and approvals and general changes in economic conditions. You will find a more detailed assessment of these risks, uncertainties and other risks that could cause actual events or results to materially differ from our current expectations in the Company’s U.S. Securities and Exchange Commission and Canadian Securities Commissions filings and reports filings and reports, including in the Annual Report on Form 20-F for the year ended December 31, 2019 and future filings and reports by the Company, from time to time. As a result, we cannot guarantee that any forward-looking statement will materialize. Such risks may be amplified by the COVID-19 pandemic and its potential impact on Liminal BioSciences’ business and the global economy. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements and estimates, which speak only as of the date hereof.  We assume no obligation to update any forward-looking statement contained in this Press Release even if new information becomes available, as a result of future events or for any other reason, unless required by applicable securities laws and regulations.

 

For further information please contact:

Corporate Contacts                           

Bruce Pritchard

b.pritchard@liminalbiosciences.com

+1 450.781.0115

 

Patrick Sartore

p.sartore@liminalbiosciences.com

+1 450.781.0115

 

Shrinal Inamdar

s.inamdar@liminalbiosciences.com

+1 450.781.0115

 

Media Contact

Kaitlin Gallagher

kgallagher@berrypr.com

212.253.8881    

 

Investor Contact

Matt Lane

matt@gilmartinir.com

617.901.7698

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