Addex Pharmaceuticals Ltd will ask shareholders on 28 April 2011 to elect Hoyoung Huh and Oleg Nodelman to its board of directors. Dr Huh is chairman of the board of BiPar Sciences Inc, a unit of Sanofi-Aventis SA, and of the boards of Geron Corp and Epizyme Inc. He was BiPar’s president and chief executive in 2009 when the company was acquired by Sanofi.
Mr Nodelman is a portfolio manager at the San Francisco-based Biotechnology Value Fund. The fund currently holds 15.15% of Addex, but this share will increase to 30% on 14 March following the conversion of outstanding notes into shares. This is below the mandatory 33% takeover threshold under Swiss securities laws.
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