Shareholders General Meeting
Machavert’s Shareholders General Meeting took place on February 6 in Prague, Czech Republic. Machavert’s management presented an exciting progress update. The main highlight on the R&D side were a very good toxicity data obtained on rodents. Also, great progress was made regarding unraveling the mechanism of action of MP1000 which was proposed to be immune related, namely NKT-cells activation. Indeed, the possible positioning of our leading program in immune-oncology was very well welcomed by our shareholders as immune-oncology represents one of the most promising directions in the cancer treatment of the future! Further, we approved the emission of new stock to raise $2 million in the tranche 2 of the Round A that should close soon. Lastly, we discussed a restructuring of the company so as to position us better toward the sought strategic partner in the future as we are now on the path toward investigational New Drug application (IND) and commencing of clinical trials.